Updated Two-Unit
For Sale
$750,000
3420 Humboldt Ave S, Minneapolis, MN 55411
Two spacious residential units feature extensive recent renovations near Minneapolis lakes, parks, dining, and shopping.
Property Size4,800 SF
Price / SF$156.25
Days on Market97
Property Features for 3420 Humboldt Ave S
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,906
Listing Agency:
Real Broker, LLC
(608) 347-5356
Listed By:
Abby Berrospid
(608) 347-5356
Source:
Exprealty
Added: May 15
Changed: Aug 10
Last Checked: Aug 19 at 12:32PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 4,800-square-foot duplex offers a four-bedroom residence on each level, combining a spacious layout with classic Minneapolis character. Recent improvements include a replacement roof, refreshed bathrooms, new appliances, interior paint, refinished floors, replacement windows, a new retaining wall, and a finished basement.
The property is located at 3420 Humboldt Ave S in Minneapolis, a few short blocks from Bde Maka Ska. Uptown dining and shopping, along with nearby parks and lakes, are also within close proximity.
The property is located at 3420 Humboldt Ave S in Minneapolis, a few short blocks from Bde Maka Ska. Uptown dining and shopping, along with nearby parks and lakes, are also within close proximity.
Key Highlights
- 4,800‑square‑foot duplex with 4bd Up/4bd Down configuration
- Extensive recent renovations include a new roof, bathrooms, appliances, paint, floors, and windows
- New retaining wall and newly finished basement
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
$64,415
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
8.59%
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%
$1,288,300
$1.3M
Cap Rate 7%
$920,214
$920.2K
Cap Rate 9%
$715,722
$715.7K
Market Conditions
NOI Build-Up for 4,800 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
$125.0K $26.04/SF
− Vacancy
−$7.9K −$1.64/SF
EGI
$117.1K $24.40/SF
− OpEx
−$52.7K −$10.98/SF
NOI
$64.4K $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%
$1,288,300
Cap Rate 7%
$920,214
Cap Rate 9%
$715,722
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$876.6K – $1.17M
NOI $70,131 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$920.2K
$805.2K – $1.07M
NOI $64,415 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,163 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
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 - Two spacious residential units feature extensive recent renovations near Minneapolis lakes, parks, dining, and shopping.
Where is this duplex located?
The property is located at 3420 Humboldt Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,800‑square‑foot duplex with 4bd Up/4bd Down configuration; Extensive recent renovations include a new roof, bathrooms, appliances, paint, floors, and windows; New retaining wall and newly finished basement
