Two-Unit Duplex with Detached
For Sale
$440,000
Pending
3427 Garfield Avenue, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size2,164 SF
Lot Size0.13 Acres
Days on Market67
Property Features for 3427 Garfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 3
Parking features
Garage - Detached, Parking Lot, Driveway
Exterior features
Vinyl
Fencing
Chain Link
Subdivision
Bakers Add
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Medium
High school district
Minneapolis
Directions
35TH ST TO GARFIELD AVE, NORTH TO PROPERTY
Standard status
Pending
APN
0302824320083
Size
2,164 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7343
Utilities
Heating system
Forced Air
Amenities
covered porch
shared laundry
Building Details
Year built
1900
Building materials
Block, Stone
Roof type
Shingle
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Michelle Fussy Peterson · License #NST505003859
(651) 494-4000
Added: Jul 31
Changed: Oct 3
Last Checked: Oct 5 at 4:06PM
MLS# 7120152
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 two-unit duplex contains 2164 square feet across two distinct apartments. The main-floor residence includes two bedrooms, one bathroom, a living room bay window, hardwood and tile flooring, and a decorative fireplace in the primary bedroom. The upper apartment provides three bedrooms and two bathrooms, including a primary suite with an updated bath, walk-in closet, and additional flexible room. A kitchen opens to a large deck, while covered front and rear porches serve the property. Shared laundry is located in the lower level with a separate rear entry.
The property sits at 3427 Garfield Avenue in Minneapolis’ Lyndale neighborhood. Parking includes a detached single-car garage, driveway, and additional off-street capacity for 3-4 vehicles. Built in 1900, the exterior features vinyl siding, block and stone construction, a shingle roof, forced-air heat, and chain-link fencing. The lot measures 0.13 acres.
The property sits at 3427 Garfield Avenue in Minneapolis’ Lyndale neighborhood. Parking includes a detached single-car garage, driveway, and additional off-street capacity for 3-4 vehicles. Built in 1900, the exterior features vinyl siding, block and stone construction, a shingle roof, forced-air heat, and chain-link fencing. The lot measures 0.13 acres.
Key Highlights
- Two‑unit duplex with 2164 square feet of property size
- Main apartment has 2 bedrooms and 1 bathroom
- Upper apartment offers 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,618
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,360
$632.4K
Cap Rate 7%
$451,686
$451.7K
Cap Rate 9%
$351,311
$351.3K
Market Conditions
NOI Build-Up for 2,164 SF
Gross rent
$48.0K $22.20/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$45.2K $20.87/SF
− OpEx
−$13.6K −$6.26/SF
NOI
$31.6K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,360
Cap Rate 7%
$451,686
Cap Rate 9%
$351,311
Alternative Uses
Best Use
Multifamily LT 5
$451.7K
$395.2K – $527.0K
NOI $31,618 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$414.9K
$363.0K – $484.0K
NOI $29,040 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$516.3K
$451.8K – $602.3K
NOI $36,140 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments offer two- and three-bedroom layouts with shared lower-level laundry.
Where is this duplex located?
The property is located at 3427 Garfield Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑unit duplex with 2164 square feet of property size; Main apartment has 2 bedrooms and 1 bathroom; Upper apartment offers 3 bedrooms and 2 bathrooms
