Up-and-Down Duplex with
For Sale
$435,000
3116 17th Ave S, Minneapolis, MN 55407
Separate utilities, shared basement laundry, and a fenced backyard support the property's two-unit layout.
Property Size2,638 SF
Price / SF$164.90
Days on Market10
Property Features for 3116 17th Ave S
General Information
Standard status
Active
Size
2,638 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
fenced backyard
storage rooms
shared basement laundry
Building Details
Year Built
1908
Listing Agency:
LaBelle Real Estate Group Inc
Listed By:
Crush Real Estate Group - Jennifer A. Tillges
(651) 705-0166
Source:
Brickandbanister
Added: Oct 7
Last Checked: Oct 7 at 12:08PM
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 LaBelle Real Estate Group Inc
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Investment Insights
Based on property information with market context.
This 2,638-square-foot duplex has one residence above the other, with hardwood floors, stained-glass windows, and refreshed kitchen cabinetry on the main level. Improvements include Marvin windows, a newer roof, basement glass-block windows, fresh-air intakes, and sound separation added between the units. The basement provides two storage rooms and shared laundry, while a detached two-car garage and fenced backyard round out the property.
The duplex is in Minneapolis's Powderhorn Park neighborhood, with access to Powderhorn Park and Lake, a recreation center, and the dining and retail offerings at Midtown Global Market. Separate utilities serve the units. An assumable FHA loan at 3.25% is subject to buyer qualification and lender approval.
The duplex is in Minneapolis's Powderhorn Park neighborhood, with access to Powderhorn Park and Lake, a recreation center, and the dining and retail offerings at Midtown Global Market. Separate utilities serve the units. An assumable FHA loan at 3.25% is subject to buyer qualification and lender approval.
Key Highlights
- 2,638‑square‑foot up‑and‑down duplex
- Assumable FHA loan at 3.25%, subject to buyer qualification and lender approval
- Detached two‑car garage and fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,543
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,860
$770.9K
Cap Rate 7%
$550,614
$550.6K
Cap Rate 9%
$428,256
$428.3K
Market Conditions
NOI Build-Up for 2,638 SF
Gross rent
$58.6K $22.20/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$55.1K $20.87/SF
− OpEx
−$16.5K −$6.26/SF
NOI
$38.5K $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%
$770,860
Cap Rate 7%
$550,614
Cap Rate 9%
$428,256
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,543 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,401 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$629.4K
$550.7K – $734.3K
NOI $44,056 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,383
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
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 - Separate utilities, shared basement laundry, and a fenced backyard support the property's two-unit layout.
Where is this duplex located?
The property is located at 3116 17th Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 2,638‑square‑foot up‑and‑down duplex; Assumable FHA loan at 3.25%, subject to buyer qualification and lender approval; Detached two‑car garage and fenced backyard
