Up-and-Down
For Sale
$350,000
3045 Harriet Ave, Minneapolis, MN 55408
The two residences include a two-bedroom main-floor unit and a three-bedroom upper unit, with laundry and storage below.
Property Size1,115 SF
Price / SF$313.90
Days on Market8
Property Features for 3045 Harriet Ave
General Information
Standard status
Active
Size
1,115 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Amenities
shared lower-level laundry and storage
Building Details
Year Built
1900
Buildings
1
Listing Agency:
National Realty Guild
Listed By:
Michelle Fussy Peterson · License #NST505003859
(612) 987-4771
Source:
Agoodlifegroup
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 4 at 3:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of National Realty Guild
Investment Insights
Based on property information with market context.
Built in 1900, this 1,115-square-foot duplex has a 2.5-story configuration with a two-bedroom residence on the main floor and a three-bedroom residence across the second and third floors. The upper unit includes a third-floor bedroom with a walk-in closet. Hardwood floors and a decorative fireplace are among the main-floor features, and shared laundry and storage are located on the lower level.
The property is at 3045 Harriet Ave in Minneapolis. Off-street parking accommodates up to four vehicles.
The property is at 3045 Harriet Ave in Minneapolis. Off-street parking accommodates up to four vehicles.
Key Highlights
- 1,115‑square‑foot duplex built in 1900
- 2.5‑story layout with a two‑bedroom main‑floor unit and a three‑bedroom upper unit
- Upper residence has a third‑floor bedroom with a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,291
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,820
$325.8K
Cap Rate 7%
$232,729
$232.7K
Cap Rate 9%
$181,011
$181.0K
Market Conditions
NOI Build-Up for 1,115 SF
Gross rent
$24.8K $22.20/SF
− Vacancy
−$1.5K −$1.33/SF
EGI
$23.3K $20.87/SF
− OpEx
−$7.0K −$6.26/SF
NOI
$16.3K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,820
Cap Rate 7%
$232,729
Cap Rate 9%
$181,011
Alternative Uses
Best Use
Multifamily LT 5
$232.7K
$203.6K – $271.5K
NOI $16,291 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$213.8K
$187.0K – $249.4K
NOI $14,963 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$266.0K
$232.8K – $310.4K
NOI $18,621 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,621
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - The two residences include a two-bedroom main-floor unit and a three-bedroom upper unit, with laundry and storage below.
Where is this duplex located?
The property is located at 3045 Harriet Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,115‑square‑foot duplex built in 1900; 2.5‑story layout with a two‑bedroom main‑floor unit and a three‑bedroom upper unit; Upper residence has a third‑floor bedroom with a walk‑in closet
