Duplex with Updated
3307 29th Avenue S, Minneapolis, MN 55406
For Sale
$385,000
Residential Income, Minneapolis, MN
Property Size1,721 SF
Lot Size0.15 Acres
Price / SF$223.71
Days on Market53
Property Features for 3307 29th Avenue S
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Subdivision
Lot features
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Roof type
Listing Agency:
Keller Williams Realty Integrity
(952) 938-6100
Listed By:
Nicoli Holm · License MN #40553866
(612) 998-8959
Added: Sep 21
Changed: Nov 2
Last Checked: Nov 12 at 7:06AM
MLS# 7059135
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.
This 1,721-square-foot duplex contains two residences, each with a private entrance, separate utilities, laundry, and bedrooms. Hardwood floors and neutral finishes appear in both units. The main- and upper-level kitchens were renovated in 2019/2020 with granite counters, stainless steel appliances, tile backsplashes, recessed lighting, and cabinetry. The 0.15-acre property also includes a backyard and front porch, with city-maintained green space alongside it.
Exterior work includes a 2022 roof replacement and updates to the siding, fascia, soffits, gutters, and front porch. Heating is provided by radiant, hot water, and baseboard systems. The property is on a bus line, two blocks from light rail, and about three blocks from Lake Street. Wildflyer Coffee is steps from the front porch.
Exterior work includes a 2022 roof replacement and updates to the siding, fascia, soffits, gutters, and front porch. Heating is provided by radiant, hot water, and baseboard systems. The property is on a bus line, two blocks from light rail, and about three blocks from Lake Street. Wildflyer Coffee is steps from the front porch.
Key Highlights
- Two‑residence duplex with 1,721 square feet on a 0.15‑acre lot
- Separate utilities, laundry, and private entrances for both residences
- Main- and upper‑level kitchens updated in 2019/2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,303
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,060
$446.1K
Cap Rate 7%
$318,614
$318.6K
Cap Rate 9%
$247,811
$247.8K
Market Conditions
NOI Build-Up for 1,721 SF
Gross rent
$34.1K $19.80/SF
− Vacancy
−$2.2K −$1.29/SF
EGI
$31.9K $18.51/SF
− OpEx
−$9.6K −$5.55/SF
NOI
$22.3K $12.96/SF
Area
ZIP 55406
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,060
Cap Rate 7%
$318,614
Cap Rate 9%
$247,811
Alternative Uses
Best Use
Multifamily LT 5
$318.6K
$278.8K – $371.7K
NOI $22,303 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$296.5K
$259.5K – $346.0K
NOI $20,758 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$502.9K
$440.0K – $586.7K
NOI $35,202 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
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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
$335,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private entrances, individual laundry, and utility service for each unit.
Where is this duplex located?
The property is located at 3307 29th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑residence duplex with 1,721 square feet on a 0.15‑acre lot; Separate utilities, laundry, and private entrances for both residences; Main- and upper‑level kitchens updated in 2019/2020
