Renovated Duplex with Updated
For Sale
$350,000
3104 Oliver Ave N, Minneapolis, MN 55411
Two-unit residential property with contemporary interiors, new appliances, and substantial mechanical and electrical improvements.
Property Size2,288 SF
Price / SF$152.97
Days on Market81
Property Features for 3104 Oliver Ave N
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1891
Buildings
1
Listing Agency:
Compass
Listed By:
Jado Hark · License #40577949
(612) 483-1742
Source:
Tayloronken
Added: Jul 30
Changed: Oct 11
Last Checked: Oct 16 at 2:32PM
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 Compass
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Investment Insights
Based on property information with market context.
This 2,288-square-foot duplex includes two residential units and dates to 1891. The property has been extensively renovated, with updated electrical service, new HVAC systems, new appliances, refreshed interiors, and modern finishes carried throughout both units. The improvements address both the building’s operating systems and its interior presentation.
Located at 3104 Oliver Ave N in Minneapolis, the property is near parks, shopping, and dining, with access to downtown Minneapolis. The combination of two units, updated building systems, and completed interior work creates a residential income property with a substantially refreshed configuration.
Located at 3104 Oliver Ave N in Minneapolis, the property is near parks, shopping, and dining, with access to downtown Minneapolis. The combination of two units, updated building systems, and completed interior work creates a residential income property with a substantially refreshed configuration.
Key Highlights
- 2,288‑square‑foot duplex with two residential units
- Originally constructed in 1891
- New HVAC systems and updated electrical
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,704
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,080
$614.1K
Cap Rate 7%
$438,629
$438.6K
Cap Rate 9%
$341,156
$341.2K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$59.6K $26.04/SF
− Vacancy
−$3.8K −$1.64/SF
EGI
$55.8K $24.40/SF
− OpEx
−$25.1K −$10.98/SF
NOI
$30.7K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,080
Cap Rate 7%
$438,629
Cap Rate 9%
$341,156
Alternative Uses
Best Use
Multifamily LT 5
$477.6K
$417.9K – $557.2K
NOI $33,429 @ 7.0% cap · market cap 9.55%
Second Best
Apartment 5plus
$438.6K
$383.8K – $511.7K
NOI $30,704 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$545.9K
$477.6K – $636.9K
NOI $38,211 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with contemporary interiors, new appliances, and substantial mechanical and electrical improvements.
Where is this duplex located?
The property is located at 3104 Oliver Ave N 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: 2,288‑square‑foot duplex with two residential units; Originally constructed in 1891; New HVAC systems and updated electrical
