Side-by-Side
New
For Sale
$449,000
317 Washington Avenue S, Edina, MN 55343
The 1958 property has two side-by-side units, with recent paint and concrete entry improvements to both sides.
Property Size1,717 SF
Price / SF$261.50
Days on Market2
Property Features for 317 Washington Avenue S
General Information
Standard status
Active
Size
1,717 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1958
Buildings
1
Listing Agency:
RE/MAX Results Duluth
Listed By:
Jay Hancock Real Estate
(612) 916-0245
Source:
Jayhancockrealestate
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 9 at 7:09PM
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 Results Duluth
Investment Insights
Based on property information with market context.
This Edina duplex contains 1,717 square feet across two side-by-side units and was built in 1958. Unit 319 received fresh interior and exterior paint. Unit 317 has a new concrete front sidewalk and stoop, providing distinct updates at each unit’s entrance.
Downtown Hopkins and its Mainstreet offerings are a short drive from the property at 317 Washington Avenue S.
Downtown Hopkins and its Mainstreet offerings are a short drive from the property at 317 Washington Avenue S.
Key Highlights
- 1,717‑square‑foot side‑by‑side duplex
- Built in 1958
- Unit 319 has fresh interior and exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,251
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,020
$445.0K
Cap Rate 7%
$317,871
$317.9K
Cap Rate 9%
$247,233
$247.2K
Market Conditions
NOI Build-Up for 1,717 SF
Gross rent
$34.0K $19.80/SF
− Vacancy
−$2.2K −$1.29/SF
EGI
$31.8K $18.51/SF
− OpEx
−$9.5K −$5.55/SF
NOI
$22.3K $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%
$445,020
Cap Rate 7%
$317,871
Cap Rate 9%
$247,233
Alternative Uses
Best Use
Multifamily LT 5
$317.9K
$278.1K – $370.9K
NOI $22,251 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$286.7K
$250.9K – $334.5K
NOI $20,069 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$409.6K
$358.4K – $477.9K
NOI $28,675 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The 1958 property has two side-by-side units, with recent paint and concrete entry improvements to both sides.
Where is this duplex located?
The property is located at 317 Washington Avenue S Edina, MN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,717‑square‑foot side‑by‑side duplex; Built in 1958; Unit 319 has fresh interior and exterior paint
