Duplex with Attached Tuck-Under
For Sale
$275,000
3236 James Avenue N, Minneapolis, MN 55412
MULTI_FAMILY - Minneapolis, MN
Property Size1,824 SF
Lot Size0.11 Acres
Price / SF$150.77
Days on Market97
Property Features for 3236 James Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2
Parking features
Garage - Attached, Garage, Driveway
Exterior features
Vinyl
Subdivision
Sylvan Park Add
Lot features
Tree Coverage - Light
High school district
Minneapolis
Directions
Take Lowry Ave to N James Ave, go North to property on your right.
Standard status
Active
APN
0902924240205
Size
1,824 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3665
Utilities
Heating system
Forced Air
Building Details
Year built
1910
Roof type
Shingle
Listing Agency:
Wits Realty
(612) 444-5507
Listed By:
Samuel Andrews
(612) 444-5507
Added: May 15
Changed: Aug 15
Last Checked: Aug 19 at 8:06AM
MLS# 7073439
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.
Investment Insights
Based on property information with market context.
This duplex at 3236 James Avenue N offers a functional two-unit layout with vinyl exterior, forced-air heating, and a shingle roof. The property includes a basement and multiple bedrooms and bathrooms across the rooms listed, supporting a comfortable resident experience.
A standout feature is the attached tuck-under two-stall garage with covered, attached parking for two. Parking is described as a driveway/garage setup with the garage categorized as attached. Built in 1910, the home sits on a 0.11-acre lot and has space considerations suited to owners looking for a straightforward, in-place holding property.
The rooms list includes Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, and Bathroom 2, along with basement space, giving the next owner a clear starting point for how the interior is organized.
A standout feature is the attached tuck-under two-stall garage with covered, attached parking for two. Parking is described as a driveway/garage setup with the garage categorized as attached. Built in 1910, the home sits on a 0.11-acre lot and has space considerations suited to owners looking for a straightforward, in-place holding property.
The rooms list includes Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, and Bathroom 2, along with basement space, giving the next owner a clear starting point for how the interior is organized.
Key Highlights
- 0.11‑acre lot for this duplex
- Attached tuck‑under two‑stall garage with covered parking for two
- Forced‑air heating and vinyl exterior
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
2
Residential units
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 - Duplex on a 0.11-acre lot featuring vinyl exterior, forced-air heat, and an attached two-stall tuck-under garage.
Where is this duplex located?
The property is located at 3236 James Avenue 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: 0.11‑acre lot for this duplex; Attached tuck‑under two‑stall garage with covered parking for two; Forced‑air heating and vinyl exterior
