Renovated Duplex with Attached Two-Car
For Sale
$899,900
3724 Joppa Avenue S, Saint Louis Park, MN 55416
MULTI_FAMILY - Saint Louis Park, MN
Property Size2,500 SF
Lot Size0.18 Acres
Price / SF$359.96
Days on Market66
Property Features for 3724 Joppa Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 3, Basement, Bedroom 1, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 8, Bedroom 5
Parking features
Driveway, Open, Garage - Attached
Exterior features
Fiber Board, Metal, Wood
Fencing
Chain Link
Subdivision
Bassfords Add To St Louis Park
Lot features
Public Transit (w/in 6 blks), Irregular Lot, Tree Coverage - Medium, Underground Utilities
High school district
St. Louis Park
Directions
From Hwy 100: East on Excelsior Blvd, South on Joppa Ave S, Property on right.
Standard status
Active
APN
0602824430092
Size
2,500 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7835
Utilities
Heating system
Forced Air
Amenities
Ecobee thermostats
electric shades
dimmable smart switches
EV charger capability
Edco Arrowline metal roof
Carrier high-efficiency HVAC
white quartz countertops
textured subway tile backsplash
stainless steel appliances
dimmable recessed LED lighting
under-cabinet kitchen lighting
waterproof LVP flooring
in-unit washer/dryer
water softeners
fenced yard
private deck
professional landscaping
Building Details
Year built
1979
Building materials
Block, Frame
Roof type
Metal, Shingle
Listing Agency:
Pro Flat Fee Realty LLC
(612) 998-1919
Listed By:
David B Hitchcock
(612) 998-1919
Added: Jun 10
Changed: Aug 3
Last Checked: Aug 14 at 10:06AM
MLS# 7089360
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 completely renovated duplex on a 0.18-acre lot was built in 1979 and is configured with two separate sides, each functioning like its own single-family home. Each side features four bedrooms and two full bathrooms, an open-concept living area, a private deck, and its own separate basement. The garage is attached with a two-car setup per unit, and the properties include separately metered utilities.
Smart home features include Ecobee thermostats, electric shades, and dimmable smart switches. The garage electrical has been upgraded to support an EV charger or sauna. The renovation includes a premium metal roof (also described as metal and shingle roofing), Carrier forced-air HVAC with Ecobee thermostats, updated electrical panels, new hot water tanks, remodeled bathrooms, white quartz countertops, textured subway tile backsplash, new stainless steel appliances, dimmable recessed LED lighting, under-cabinet kitchen lighting, waterproof LVP flooring, and in-unit washer/dryer. Outdoor space includes a fenced yard with chain-link fencing for pets.
The property is located at 3724 Joppa Avenue S in Saint Louis Park, within walking distance to Trader Joe’s and nearby dining and shopping, with convenient access to major routes and downtown, and it is described as being on the bus line.
Smart home features include Ecobee thermostats, electric shades, and dimmable smart switches. The garage electrical has been upgraded to support an EV charger or sauna. The renovation includes a premium metal roof (also described as metal and shingle roofing), Carrier forced-air HVAC with Ecobee thermostats, updated electrical panels, new hot water tanks, remodeled bathrooms, white quartz countertops, textured subway tile backsplash, new stainless steel appliances, dimmable recessed LED lighting, under-cabinet kitchen lighting, waterproof LVP flooring, and in-unit washer/dryer. Outdoor space includes a fenced yard with chain-link fencing for pets.
The property is located at 3724 Joppa Avenue S in Saint Louis Park, within walking distance to Trader Joe’s and nearby dining and shopping, with convenient access to major routes and downtown, and it is described as being on the bus line.
Key Highlights
- 0.18‑acre duplex built in 1979 with two fully separate sides
- Each side has four bedrooms and two full bathrooms
- Attached two‑car garages per unit plus separate basements
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
$32,398
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
3.60%
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%
$647,960
$648.0K
Cap Rate 7%
$462,829
$462.8K
Cap Rate 9%
$359,978
$360.0K
Market Conditions
NOI Build-Up for 2,500 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
$49.5K $19.80/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$46.3K $18.51/SF
− OpEx
−$13.9K −$5.55/SF
NOI
$32.4K $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%
$647,960
Cap Rate 7%
$462,829
Cap Rate 9%
$359,978
Alternative Uses
Best Use
Multifamily LT 5
$462.8K
$405.0K – $540.0K
NOI $32,398 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$417.4K
$365.3K – $487.0K
NOI $29,221 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$596.4K
$521.9K – $695.9K
NOI $41,751 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
962
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 - Completely renovated duplex with four bedrooms per side, two full baths, and attached two-car garages plus private decks.
Where is this duplex located?
The property is located at 3724 Joppa Avenue S Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 0.18‑acre duplex built in 1979 with two fully separate sides; Each side has four bedrooms and two full bathrooms; Attached two‑car garages per unit plus separate basements
