Duplex With Tuck-Under
For Sale
$275,000
3236 James Ave N, Minneapolis, MN 55412
Well-maintained duplex with two covered attached parking spaces and an established two-unit configuration.
Property Size1,824 SF
Price / SF$150.77
Days on Market92
Property Features for 3236 James Ave N
General Information
Standard status
Active
Size
1,824 SF
Total Parking Spaces
2
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,665
Building Details
Tenancy
Multi
Abandoned
No
Listing Agency:
Wits Realty
(402) 432-5729
Listed By:
Samuel Andrews
(402) 432-5729
Source:
Exprealty
Added: May 20
Changed: Aug 11
Last Checked: Aug 18 at 10:55AM
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 Wits Realty
Investment Insights
Based on property information with market context.
This 1,824-square-foot duplex at 3236 James Ave N in Minneapolis offers a two-unit residential income property with a tuck-under two-stall garage. The covered, attached parking accommodates two vehicles, while the property’s condition and layout support immediate use without a renovation-first approach. Public remarks identify rents of $1,200 and $1,300 for the two units.
The property includes a lot described as providing space and curb appeal, with the address located in North Minneapolis. Its duplex format and attached two-stall garage provide a practical configuration for an investor or owner-occupant seeking a house-hack property.
The property includes a lot described as providing space and curb appeal, with the address located in North Minneapolis. Its duplex format and attached two-stall garage provide a practical configuration for an investor or owner-occupant seeking a house-hack property.
Key Highlights
- 1,824‑square‑foot duplex
- Two residential units with rents of $1,200 and $1,300
- Rare tuck‑under two‑stall garage
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
$24,478
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
8.90%
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%
$489,560
$489.6K
Cap Rate 7%
$349,686
$349.7K
Cap Rate 9%
$271,978
$272.0K
Market Conditions
NOI Build-Up for 1,824 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
$47.5K $26.04/SF
− Vacancy
−$3.0K −$1.64/SF
EGI
$44.5K $24.40/SF
− OpEx
−$20.0K −$10.98/SF
NOI
$24.5K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$489,560
Cap Rate 7%
$349,686
Cap Rate 9%
$271,978
Alternative Uses
Best Use
Multifamily LT 5
$380.7K
$333.1K – $444.2K
NOI $26,650 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$349.7K
$306.0K – $408.0K
NOI $24,478 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$435.2K
$380.8K – $507.7K
NOI $30,462 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 55412, MN
23,800
Population
9,676
Households
2.5
Avg Household Size
33
Median Age
28%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
7,000
Density / Sq Mi
$71,905
Median Household Income
$42,494
Median Earnings
$1,340
Median Rent
$226,400
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 - Well-maintained duplex with two covered attached parking spaces and an established two-unit configuration.
Where is this duplex located?
The property is located at 3236 James Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,824‑square‑foot duplex; Two residential units with rents of $1,200 and $1,300; Rare tuck‑under two‑stall garage
