Side-by-Side Duplex with Double
For Sale
$550,000
3707-3709 Joppa Ave S, Saint Louis Park, MN 55416
Fully rented two-story units offer private entrances, full basements, and updated kitchens.
Property Size2,400 SF
Price / SF$229.17
Days on Market28
Property Features for 3707-3709 Joppa Ave S
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1947
Buildings
1
Construction
Georgian Colonial
Listing Agency:
RE/MAX Advantage Plus
(651) 283-8251
Listed By:
Mark P. Abdel
Source:
Thehomeadvantagegroup
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 25 at 5:39AM
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 RE/MAX Advantage Plus
Investment Insights
Based on property information with market context.
Built in 1947, this side-by-side duplex contains two two-story units with separate entrances and individual full basements. The full-brick Georgian Colonial design includes oak hardwood flooring, updated kitchens, and finished interiors with distinct character. Each residence provides a separate living arrangement within the same well-maintained property.
A newer 20’ x 22’ detached double garage serves both units. The property is located at 3707-3709 Joppa Ave S in Saint Louis Park, near Bde Maka Ska, parks, restaurants, shopping, and walking and biking trails. Highway 100, I-394, Highway 7, downtown Minneapolis, and amenities in Saint Louis Park and Minneapolis are all described as nearby.
A newer 20’ x 22’ detached double garage serves both units. The property is located at 3707-3709 Joppa Ave S in Saint Louis Park, near Bde Maka Ska, parks, restaurants, shopping, and walking and biking trails. Highway 100, I-394, Highway 7, downtown Minneapolis, and amenities in Saint Louis Park and Minneapolis are all described as nearby.
Key Highlights
- Fully rented side‑by‑side duplex with two two‑story units
- Separate private entrances and full basements for both units
- Full‑brick Georgian Colonial built in 1947
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
$31,102
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
5.65%
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%
$622,040
$622.0K
Cap Rate 7%
$444,314
$444.3K
Cap Rate 9%
$345,578
$345.6K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$3.1K −$1.29/SF
EGI
$44.4K $18.51/SF
− OpEx
−$13.3K −$5.55/SF
NOI
$31.1K $12.96/SF
Area
Hennepin County, MN
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 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%
$622,040
Cap Rate 7%
$444,314
Cap Rate 9%
$345,578
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$400.7K
$350.7K – $467.5K
NOI $28,052 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$572.6K
$501.0K – $668.0K
NOI $40,081 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 55416, MN
34,129
Population
19,197
Households
1.8
Avg Household Size
36
Median Age
73%
College-Educated
98%
High-School Grad
7.3 sq mi
ZIP Area
4,675
Density / Sq Mi
$105,926
Median Household Income
$70,993
Median Earnings
$1,701
Median Rent
$457,300
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 - Fully rented two-story units offer private entrances, full basements, and updated kitchens.
Where is this duplex located?
The property is located at 3707-3709 Joppa Ave S Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Fully rented side‑by‑side duplex with two two‑story units; Separate private entrances and full basements for both units; Full‑brick Georgian Colonial built in 1947
