Updated Duplex with Detached
For Sale
$499,000
3714 Bloomington Avenue, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size2,658 SF
Lot Size0.14 Acres
Price / SF$187.74
Days on Market10
Property Features for 3714 Bloomington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 1
Parking features
Driveway, Garage - Detached
Exterior features
Steel Siding
Subdivision
Jennie R F Blaisdells Add
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
Minneapolis
Directions
Hwy 55 S, W onto E 38th St, N onto Bloomington Ave, property on left.
Standard status
Active
APN
0202824430190
Size
2,658 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5237
Utilities
Heating system
Forced Air
Amenities
deck
gas grill
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
Lakes Area Realty
(612) 874-1916
Listed By:
Carrie E Augst
(612) 867-5624
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 6 at 9:06PM
MLS# 7133348
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 2,658-square-foot duplex, built in 1900, includes a one-bedroom, one-bath apartment at the rear with its own entrance. Recent work includes a new roof, steel siding, updated kitchen with stainless steel appliances and quartz countertops, new skylights, bedroom carpeting, and a sewer line replacement completed in 2025. Windows are less than five years old, while the furnace is newer. The home also offers basement storage, multiple bathrooms, and additional storage capacity.
A detached two-car garage and driveway provide parking options, with further off-street parking available. The property includes a deck with a connected gas grill, and televisions and the grill remain with the home. Located in Minneapolis, the duplex combines a primary residence with a separate apartment configuration.
A detached two-car garage and driveway provide parking options, with further off-street parking available. The property includes a deck with a connected gas grill, and televisions and the grill remain with the home. Located in Minneapolis, the duplex combines a primary residence with a separate apartment configuration.
Key Highlights
- 2,658‑square‑foot duplex on a 0.14‑acre lot
- Rear 1 bed, 1 bath apartment with separate entrance
- New roof, steel siding, skylights, and bedroom carpet
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
$38,835
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
7.78%
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%
$776,700
$776.7K
Cap Rate 7%
$554,786
$554.8K
Cap Rate 9%
$431,500
$431.5K
Market Conditions
NOI Build-Up for 2,658 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
$59.0K $22.20/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$55.5K $20.87/SF
− OpEx
−$16.6K −$6.26/SF
NOI
$38.8K $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 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%
$776,700
Cap Rate 7%
$554,786
Cap Rate 9%
$431,500
Alternative Uses
Best Use
Multifamily LT 5
$554.8K
$485.4K – $647.3K
NOI $38,835 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$509.6K
$445.9K – $594.5K
NOI $35,670 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$634.1K
$554.9K – $739.8K
NOI $44,390 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
846
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
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 - Separate-entry one-bedroom apartment complements recent interior and exterior improvements.
Where is this duplex located?
The property is located at 3714 Bloomington Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,658‑square‑foot duplex on a 0.14‑acre lot; Rear 1 bed, 1 bath apartment with separate entrance; New roof, steel siding, skylights, and bedroom carpet
