Renovated Duplex with Separate
New
For Sale
$329,900
3609 E 42nd Street, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size1,335 SF
Lot Size0.14 Acres
Price / SF$247.12
Days on Market3
Property Features for 3609 E 42nd Street
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, Laundry Room, Basement, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking features
Driveway
Subdivision
Edridge Add
High school district
Minneapolis
Directions
From I-94, take Hiawatha Ave (MN-55) south to E 42nd St. Head east on 42nd St to the property on the right.
Standard status
Active
APN
0702823310022
Size
1,335 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4649
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
1900
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Hannah Dahlstrom
(612) 821-7400
Added: Oct 20
Changed: Oct 22
Last Checked: Oct 22 at 9:06PM
MLS# 7162686
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 1,335-square-foot up-down duplex, built in 1900, sits on a 0.1365-acre lot. The upper apartment has one bedroom, one bathroom, a separate entrance, and an updated kitchen and bath. Both residences include in-unit laundry, and forced-air heating serves the property. Improvements completed in 2025 include a roof, gutters, exterior paint, landscaping, fencing, and added air conditioning. Interior updates include refreshed bathrooms, lighting, paint, smart locks, and blackout bedroom blinds.
The property is a short distance from the Mississippi River, neighborhood parks, trails, restaurants, and light rail access. The upper apartment has month-to-month occupancy.
The property is a short distance from the Mississippi River, neighborhood parks, trails, restaurants, and light rail access. The upper apartment has month-to-month occupancy.
Key Highlights
- 1,335 square feet on a 0.1365‑acre lot
- Up‑down duplex built in 1900
- Upper apartment has 1 bedroom, 1 bathroom, a private entrance, and month‑to‑month occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,300
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,000
$346.0K
Cap Rate 7%
$247,143
$247.1K
Cap Rate 9%
$192,222
$192.2K
Market Conditions
NOI Build-Up for 1,335 SF
Gross rent
$26.4K $19.80/SF
− Vacancy
−$1.7K −$1.29/SF
EGI
$24.7K $18.51/SF
− OpEx
−$7.4K −$5.55/SF
NOI
$17.3K $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%
$346,000
Cap Rate 7%
$247,143
Cap Rate 9%
$192,222
Alternative Uses
Best Use
Multifamily LT 5
$247.1K
$216.3K – $288.3K
NOI $17,300 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$230.0K
$201.3K – $268.4K
NOI $16,102 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$390.1K
$341.3K – $455.1K
NOI $27,307 @ 7.0% cap · market cap 8.28%
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
754
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
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has in-unit laundry, while the upper apartment has its own entrance and month-to-month occupancy.
Where is this duplex located?
The property is located at 3609 E 42nd Street Minneapolis, MN.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,335 square feet on a 0.1365‑acre lot; Up‑down duplex built in 1900; Upper apartment has 1 bedroom, 1 bathroom, a private entrance, and month‑to‑month occupancy
