Updated Side-by-Side
For Sale
$499,900
309 Washington Ave S, Edina, MN 55343
One-level layout includes private patios and separate basements with laundry and storage.
Property Size2,125 SF
Price / SF$235.25
Days on Market99
Property Features for 309 Washington Ave S
General Information
Standard status
Active
Size
2,125 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private rear patios
in-unit laundry
Building Details
Year Built
1958
Buildings
1
Stories
1
Listing Agency:
RE/MAX Advantage Plus
Listed By:
Jim DiOrio
(612) 366-1627
Source:
Searchhousesnow
Added: Jul 11
Changed: Oct 11
Last Checked: Oct 7 at 3:20PM
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 RE/MAX Advantage Plus
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Investment Insights
Based on property information with market context.
This one-level duplex at 309 Washington Ave S in Edina features a side-by-side configuration with spacious living areas, hardwood floors, and private rear patios. Each unit has a separate basement with in-unit laundry and substantial storage. Double-pane windows tilt inward for easier cleaning and improved energy efficiency.
Exterior upgrades include a new roof and siding completed in 2025. Unit 311 has a furnace and central air system installed in 2019. The unfinished basement areas provide additional storage and may support future finished space, while Unit 311 may accommodate a third bedroom with installation of an egress window. The property was built in 1958 and is positioned near shopping, dining, parks, bike trails, and major commuter routes in the Hopkins/Edina area.
Exterior upgrades include a new roof and siding completed in 2025. Unit 311 has a furnace and central air system installed in 2019. The unfinished basement areas provide additional storage and may support future finished space, while Unit 311 may accommodate a third bedroom with installation of an egress window. The property was built in 1958 and is positioned near shopping, dining, parks, bike trails, and major commuter routes in the Hopkins/Edina area.
Key Highlights
- Side‑by‑side duplex with a one‑level layout
- New roof and siding completed in 2025
- Separate basements include in‑unit laundry and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,538
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,760
$550.8K
Cap Rate 7%
$393,400
$393.4K
Cap Rate 9%
$305,978
$306.0K
Market Conditions
NOI Build-Up for 2,125 SF
Gross rent
$42.1K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$39.3K $18.51/SF
− OpEx
−$11.8K −$5.55/SF
NOI
$27.5K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,760
Cap Rate 7%
$393,400
Cap Rate 9%
$305,978
Alternative Uses
Best Use
Multifamily LT 5
$393.4K
$344.2K – $459.0K
NOI $27,538 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$354.8K
$310.5K – $414.0K
NOI $24,838 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$507.0K
$443.6K – $591.5K
NOI $35,489 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - One-level layout includes private patios and separate basements with laundry and storage.
Where is this duplex located?
The property is located at 309 Washington Ave S Edina, MN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Side‑by‑side duplex with a one‑level layout; New roof and siding completed in 2025; Separate basements include in‑unit laundry and storage
