Updated Side-by-Side
For Sale
$499,990
3822 3rd St NE, Columbia Heights, MN 55421
Two matching residences offer spacious layouts, private basement laundry, fenced outdoor space, and detached-garage parking.
Property Size3,052 SF
Price / SF$163.82
Days on Market50
Property Features for 3822 3rd St NE
General Information
Standard status
Active
Size
3,052 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
basement laundry
fully fenced yard
detached garage
Building Details
Year Built
1963
Listing Agency:
The Firm Realty LLC
Listed By:
Brett R Malinski
(612) 590-1500
Source:
Homesminn
Added: Aug 26
Changed: Sep 13
Last Checked: Oct 7 at 1:11PM
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 The Firm Realty LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residences with matching layouts, each offering 4 bedrooms and full baths. Both units include private basement laundry, access to a fully fenced yard, a detached garage, and two parking spaces. The property has completed its city rental inspection and has received updates across both units.
At 3822 3rd St NE in Columbia Heights, the improvements include a new basement ¾ bath, 2024 furnace, 2023 water heater, new sump pump, stainless steel refrigerator, updated kitchen and bathroom plumbing, tile flooring, and exterior enhancements. The 3824 unit includes a new basement full bath, December 2025 furnace, January 2026 water heater, and new washer/dryer.
The duplex is near Northeast Minneapolis and minutes from Downtown, with shops, restaurants, and public transportation nearby.
At 3822 3rd St NE in Columbia Heights, the improvements include a new basement ¾ bath, 2024 furnace, 2023 water heater, new sump pump, stainless steel refrigerator, updated kitchen and bathroom plumbing, tile flooring, and exterior enhancements. The 3824 unit includes a new basement full bath, December 2025 furnace, January 2026 water heater, and new washer/dryer.
The duplex is near Northeast Minneapolis and minutes from Downtown, with shops, restaurants, and public transportation nearby.
Key Highlights
- 2‑unit side‑by‑side duplex with matching 4‑bedroom layouts
- City rental inspection completed
- Each unit includes basement laundry, a fully fenced yard, detached garage, and two parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,800
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$756,000
$756.0K
Cap Rate 7%
$540,000
$540.0K
Cap Rate 9%
$420,000
$420.0K
Market Conditions
NOI Build-Up for 3,052 SF
Gross rent
$57.9K $18.96/SF
− Vacancy
−$3.9K −$1.27/SF
EGI
$54.0K $17.69/SF
− OpEx
−$16.2K −$5.31/SF
NOI
$37.8K $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 Rate 5%
$756,000
Cap Rate 7%
$540,000
Cap Rate 9%
$420,000
Alternative Uses
Best Use
Multifamily LT 5
$540.0K
$472.5K – $630.0K
NOI $37,800 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$497.6K
$435.4K – $580.5K
NOI $34,832 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$847.8K
$741.8K – $989.1K
NOI $59,343 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
307
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer spacious layouts, private basement laundry, fenced outdoor space, and detached-garage parking.
Where is this duplex located?
The property is located at 3822 3rd St NE Columbia Heights, MN.
What is the asking price?
The asking price for this property is $499,990.
What are key features of this property?
This property features: 2‑unit side‑by‑side duplex with matching 4‑bedroom layouts; City rental inspection completed; Each unit includes basement laundry, a fully fenced yard, detached garage, and two parking spaces
