Building Details

Year Built 1900

Construction stucco

Listing Agency: eXp Realty

Listed By: Artemisa Boston Show Phone

Source: Brickandbanister

Added: Aug 23 Changed: Oct 10 Last Checked: Oct 15 at 4:27AM

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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

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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.

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 / Yr

$23,494

Cap Rate

6.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,880 $469.9K

Cap Rate 7%

$335,629 $335.6K

Cap Rate 9%

$261,044 $261.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,608 SF

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 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 (±1% cap)

NOI $23,494 @ 7.0% cap · market cap 6.71%

Second Best

Apartment 5plus

$308.3K

$269.7K – $359.7K (±1% cap)

NOI $21,579 @ 7.0% cap · market cap 6.17%

Theoretical Best

Office A

$383.6K

$335.7K – $447.6K (±1% cap)

NOI $26,854 @ 7.0% cap · market cap 7.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic HVAC Service Electrical Service Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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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