Updated Duplex with Two 3-Bedroom
For Sale
$474,900
3733 Portland Ave, Minneapolis, MN 55407
Each residence has a separate kitchen and bath, with recent interior and building-system improvements.
Property Size2,474 SF
Price / SF$191.96
Days on Market8
Property Features for 3733 Portland Ave
General Information
Standard status
Active
Size
2,474 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,781
Building Details
Buildings
1
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Todd K Harrington
(952) 388-9002
Source:
Exprealty
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 15 at 3:42AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
At 3733 Portland Ave in Minneapolis, this 2,474-square-foot duplex contains two residences, each with three bedrooms and one bathroom. Interior work includes refreshed kitchens with granite counters and stainless steel appliances, newly tiled bathrooms, refinished hardwood floors, and new flooring and carpet. Electrical and plumbing systems have been updated, and the property has new water heaters, a roof, and windows.
The property occupies a fenced lot measuring 63 feet wide. Lake Street, transit, parks, and downtown are identified as nearby destinations. The two-unit layout provides separate three-bedroom living spaces within one building.
The property occupies a fenced lot measuring 63 feet wide. Lake Street, transit, parks, and downtown are identified as nearby destinations. The two-unit layout provides separate three-bedroom living spaces within one building.
Key Highlights
- Two units, each with 3 bedrooms and 1 bathroom
- 2,474 square feet
- Fenced lot with 63 feet of width
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,147
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,940
$722.9K
Cap Rate 7%
$516,386
$516.4K
Cap Rate 9%
$401,633
$401.6K
Market Conditions
NOI Build-Up for 2,474 SF
Gross rent
$54.9K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$51.6K $20.87/SF
− OpEx
−$15.5K −$6.26/SF
NOI
$36.1K $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 Rate 5%
$722,940
Cap Rate 7%
$516,386
Cap Rate 9%
$401,633
Alternative Uses
Best Use
Multifamily LT 5
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$474.3K
$415.0K – $553.3K
NOI $33,200 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$590.2K
$516.5K – $688.6K
NOI $41,317 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
853
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 a separate kitchen and bath, with recent interior and building-system improvements.
Where is this duplex located?
The property is located at 3733 Portland Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 bathroom; 2,474 square feet; Fenced lot with 63 feet of width
