Two-Unit Multi-Story
3045 Harriet Avenue, Minneapolis, MN 55408
For Sale
$350,000
Residential Income, Minneapolis, MN
Property Size1,115 SF
Lot Size0.11 Acres
Price / SF$313.90
Days on Market50
Property Features for 3045 Harriet Avenue
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Fencing
Subdivision
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
shared laundry
storage
Building Details
Year built
Roof type
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Michelle Fussy Peterson · License MN NST505003859
(651) 494-4000
Added: Sep 24
Changed: Nov 10
Last Checked: Nov 12 at 7:06AM
MLS# 7149022
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2.5-story duplex contains two separate residences: a two-bedroom unit on the main floor and a three-bedroom residence occupying the second and third floors. The main-floor home has a kitchen, living room, decorative fireplace, and hardwood flooring. In the upper residence, the third-floor bedroom includes a walk-in closet and can also serve as office or flex space. Shared laundry and storage are located below grade. The property was built in 1900 and includes driveway parking for up to four vehicles.
The parcel measures 0.11 acres, and the property size is listed as 1,115 square feet.
The parcel measures 0.11 acres, and the property size is listed as 1,115 square feet.
Key Highlights
- Two residences: a 2‑bedroom main‑floor unit and a 3‑bedroom upper residence
- 2.5‑story building constructed in 1900
- Upper residence spans the second and third floors; third‑floor bedroom has 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.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,621
Businesses Nearby
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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
$387,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer distinct bedroom layouts, with shared laundry and storage on the lower level.
Where is this duplex located?
The property is located at 3045 Harriet Avenue 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: Two residences: a 2‑bedroom main‑floor unit and a 3‑bedroom upper residence; 2.5‑story building constructed in 1900; Upper residence spans the second and third floors; third‑floor bedroom has a walk‑in closet
