Two-Unit Duplex with Off-Street
For Sale
$350,000
3208 19th Ave S, Minneapolis, MN 55407
Updated interiors feature hardwood and tiled floors, refreshed appliances, fresh paint, and shared basement laundry.
Property Size1,608 SF
Price / SF$217.66
Days on Market10
Property Features for 3208 19th Ave S
General Information
Standard status
Active
Size
1,608 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
shared laundry
hardwood and tiled floors
air conditioning
new appliances
Building Details
Year Built
1900
Construction
stucco
Listing Agency:
eXp Realty
(651) 503-2625
Listed By:
Artemisa Boston
Source:
Thehomeadvantagegroup
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 31 at 6:39PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This above-and-below duplex contains two residential units, each arranged with two bedrooms, a full bathroom, kitchen, and dining room. Improvements include updated flooring, new appliances, fresh paint, and a new air-conditioning system in the second unit. Hardwood and tiled surfaces add to the interior finish, while shared laundry is located in the basement. Ample off-street parking serves the property.
Built in 1900, the duplex is located at 3208 19th Ave S in Minneapolis, Minnesota’s Corcoran neighborhood. Schools and parks are nearby, providing established neighborhood surroundings for the two-unit configuration.
Built in 1900, the duplex is located at 3208 19th Ave S in Minneapolis, Minnesota’s Corcoran neighborhood. Schools and parks are nearby, providing established neighborhood surroundings for the two-unit configuration.
Key Highlights
- Two above‑and‑below residential units, each with 2 bedrooms and 1 full bath
- New A/C installed in the second unit
- Updated floors, new appliances, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,494
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$469,880
$469.9K
Cap Rate 7%
$335,629
$335.6K
Cap Rate 9%
$261,044
$261.0K
Market Conditions
NOI Build-Up for 1,608 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.7K $22.20/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$33.6K $20.87/SF
− OpEx
−$10.1K −$6.26/SF
NOI
$23.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$469,880
Cap Rate 7%
$335,629
Cap Rate 9%
$261,044
Alternative Uses
Best Use
Multifamily LT 5
$335.6K
$293.7K – $391.6K
NOI $23,494 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$308.3K
$269.7K – $359.7K
NOI $21,579 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$383.6K
$335.7K – $447.6K
NOI $26,854 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,308
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
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 - Updated interiors feature hardwood and tiled floors, refreshed appliances, fresh paint, and shared basement laundry.
Where is this duplex located?
The property is located at 3208 19th Ave S 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 above‑and‑below residential units, each with 2 bedrooms and 1 full bath; New A/C installed in the second unit; Updated floors, new appliances, and fresh paint
