2-Unit Duplex with Detached
For Sale
$329,000
3732 3rd Street NE, Columbia Heights, MN 55421
Residential Income, Columbia Heights, MN
Property Size1,407 SF
Lot Size0.14 Acres
Price / SF$233.83
Days on Market446
Property Features for 3732 3rd Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Garage - Detached
Exterior features
Stucco
Subdivision
Columbia Heights Annex
Lot features
Irregular Lot
High school district
Columbia Heights
Directions
University (47) to 37th AVE NE, WEST 1 BLK THEN NORTH TO HOME
Standard status
Active
APN
353024330101
Size
1,407 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5793
Utilities
Heating system
Forced Air
Amenities
private entrance
2-car garage
off-street parking
spacious yard
Building Details
Year built
1958
Roof type
Shingle
Listing Agency:
RES Realty
(952) 898-5760
Listed By:
Hyder Jaweed
(952) 898-5760
Added: Jun 13, 2025
Changed: Aug 19
Last Checked: Sep 1 at 6:06PM
MLS# 7108812
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-unit duplex contains 1,407 square feet in an up-and-down layout. The upper residence has 2 bedrooms and 1 bathroom, while the lower residence offers 1 bedroom and 1 bathroom. Both units have private entrances. The property also includes a detached 2-car garage, additional off-street parking, and a yard on a 0.138-acre lot. Built in 1958, the building features stucco siding, a shingle roof, and forced-air heating.
The property is located in Columbia Heights near parks, schools, shopping, restaurants, and public transportation. Its setting also provides access to downtown Minneapolis and major highways. The combination of separate entrances, distinct unit layouts, garage parking, and outdoor space supports use as a two-unit residential income property or an owner-occupied duplex.
The property is located in Columbia Heights near parks, schools, shopping, restaurants, and public transportation. Its setting also provides access to downtown Minneapolis and major highways. The combination of separate entrances, distinct unit layouts, garage parking, and outdoor space supports use as a two-unit residential income property or an owner-occupied duplex.
Key Highlights
- 1,407‑square‑foot duplex with 2 bedrooms and 1 bathroom upstairs; 1 bedroom and 1 bathroom downstairs
- Separate private entrances serve both units
- Detached 2‑car garage plus off‑street parking
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
$17,426
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
5.30%
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%
$348,520
$348.5K
Cap Rate 7%
$248,943
$248.9K
Cap Rate 9%
$193,622
$193.6K
Market Conditions
NOI Build-Up for 1,407 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
$26.7K $18.96/SF
− Vacancy
−$1.8K −$1.27/SF
EGI
$24.9K $17.69/SF
− OpEx
−$7.5K −$5.31/SF
NOI
$17.4K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /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%
$348,520
Cap Rate 7%
$248,943
Cap Rate 9%
$193,622
Alternative Uses
Best Use
Multifamily LT 5
$248.9K
$217.8K – $290.4K
NOI $17,426 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$229.4K
$200.7K – $267.6K
NOI $16,058 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$390.8K
$342.0K – $456.0K
NOI $27,357 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down configuration with private entrances, off-street parking, and a spacious yard.
Where is this duplex located?
The property is located at 3732 3rd Street NE Columbia Heights, MN.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 1,407‑square‑foot duplex with 2 bedrooms and 1 bathroom upstairs; 1 bedroom and 1 bathroom downstairs; Separate private entrances serve both units; Detached 2‑car garage plus off‑street parking
