Duplex with Separate
For Sale
$280,000
3504 Cedar Avenue S, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size1,486 SF
Lot Size0.13 Acres
Price / SF$188.43
Days on Market137
Property Features for 3504 Cedar Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Laundry Room, Basement
Parking features
Driveway
Subdivision
Monroe Bros Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
South of 35th Street on Cedar Ave to the immediate South of Matt's Bar
Standard status
Active
APN
0202824410200
Size
1,486 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4478
Utilities
Heating system
Forced Air
Building Details
Year built
1914
Building materials
Block
Roof type
Shingle
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Michelle Fussy Peterson · License #NST505003859
(651) 494-4000
Added: May 22
Changed: Oct 3
Last Checked: Oct 5 at 4:06PM
MLS# 7076832
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 Minneapolis duplex contains 1,486 square feet across two units: a one-bedroom apartment on the main level and a two-bedroom residence above. Each unit has its own laundry, and the property includes three off-street parking spaces. Built in 1914, the building has block construction, forced-air heating, and a shingle roof.
The property sits next to Matt’s Bar on Cedar Avenue. The lot measures 0.13 acres.
The property sits next to Matt’s Bar on Cedar Avenue. The lot measures 0.13 acres.
Key Highlights
- Two‑unit layout with one‑bedroom main‑level and two‑bedroom upper residence
- Each unit has its own laundry
- Three off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,712
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,240
$434.2K
Cap Rate 7%
$310,171
$310.2K
Cap Rate 9%
$241,244
$241.2K
Market Conditions
NOI Build-Up for 1,486 SF
Gross rent
$33.0K $22.20/SF
− Vacancy
−$2.0K −$1.33/SF
EGI
$31.0K $20.87/SF
− OpEx
−$9.3K −$6.26/SF
NOI
$21.7K $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%
$434,240
Cap Rate 7%
$310,171
Cap Rate 9%
$241,244
Alternative Uses
Best Use
Multifamily LT 5
$310.2K
$271.4K – $361.9K
NOI $21,712 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,942 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$354.5K
$310.2K – $413.6K
NOI $24,817 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - The two residences comprise a one-bedroom main-level unit and a two-bedroom apartment upstairs.
Where is this duplex located?
The property is located at 3504 Cedar Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit layout with one‑bedroom main‑level and two‑bedroom upper residence; Each unit has its own laundry; Three off‑street parking spaces
