Duplex with Hardwood
For Sale
$459,900
3213 Minnehaha Avenue, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size3,370 SF
Lot Size0.20 Acres
Price / SF$136.47
Days on Market92
Property Features for 3213 Minnehaha Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bedroom 1, Basement, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 7, Bedroom 3, Bathroom 2, Bedroom 4
Subdivision
Adams Rgt In 2nd Add
High school district
Minneapolis
Directions
On Minnehaha and between E 32nd St and E 33rd St
Standard status
Active
APN
0102824140011
Size
3,370 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8389
Utilities
Heating system
Oil
Building Details
Year built
1905
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Paulo Mora
(952) 829-2900
Added: Jul 17
Changed: Oct 16
Last Checked: Oct 16 at 2:06PM
MLS# 7102970
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1905, this Minneapolis duplex contains 3,370 square feet on a 0.2-acre lot. Original hardwood floors, newer windows, fresh paint, and a recently replaced roof are among its documented features. The property has oil heat.
The address is on Minnehaha Avenue, with light rail service, restaurants, distilleries, and coffee shops described as nearby.
The address is on Minnehaha Avenue, with light rail service, restaurants, distilleries, and coffee shops described as nearby.
Key Highlights
- 3,370‑square‑foot duplex on a 0.2‑acre lot
- Original hardwood floors
- Recently replaced roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,647
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,940
$812.9K
Cap Rate 7%
$580,671
$580.7K
Cap Rate 9%
$451,633
$451.6K
Market Conditions
NOI Build-Up for 3,370 SF
Gross rent
$78.5K $23.28/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$73.9K $21.93/SF
− OpEx
−$33.3K −$9.87/SF
NOI
$40.6K $12.06/SF
Area
ZIP 55406
Vacancy
5.80%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,940
Cap Rate 7%
$580,671
Cap Rate 9%
$451,633
Alternative Uses
Best Use
Multifamily LT 5
$623.9K
$545.9K – $727.9K
NOI $43,672 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$580.7K
$508.1K – $677.5K
NOI $40,647 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$984.7K
$861.6K – $1.15M
NOI $68,931 @ 7.0% cap · market cap 14.99%
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
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
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 - Updated windows and a recently replaced roof complement the property's original interior finishes.
Where is this duplex located?
The property is located at 3213 Minnehaha Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 3,370‑square‑foot duplex on a 0.2‑acre lot; Original hardwood floors; Recently replaced roof
