Duplex with Finished Lower
For Sale
$439,900
3847 Cedar Avenue S, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size2,646 SF
Lot Size0.11 Acres
Price / SF$166.25
Days on Market214
Property Features for 3847 Cedar Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Basement, Bathroom 2
Parking features
Garage - Detached
Subdivision
Cedar Ave Heights 3rd Add
High school district
Minneapolis
Directions
From Hiawatha Ave, west to Cedar Ave, House is between E 39th St and Cedar Ave
Standard status
Active
APN
1202824220105
Size
2,646 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5035
Utilities
Heating system
Oil
Building Details
Year built
1927
Listing Agency:
Keller Williams Classic Realty · Keller Williams Realty
Listed By:
Julia Wang
(763) 746-4900
Added: Apr 2
Changed: Oct 27
Last Checked: Nov 1 at 10:06PM
MLS# 7048325
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.
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Investment Insights
Based on property information with market context.
Built in 1927, this 2,646-square-foot duplex contains two apartments, each with two bedrooms and one bathroom. The finished lower level adds flexible rooms and a three-quarter bath. The property also has oil heat and a detached garage.
Recent improvements include two boilers, two water heaters, a washer and dryer, and fresh interior paint throughout. The 0.11-acre property is in Minneapolis, with shopping, dining, parks, schools, and major highways nearby.
Recent improvements include two boilers, two water heaters, a washer and dryer, and fresh interior paint throughout. The 0.11-acre property is in Minneapolis, with shopping, dining, parks, schools, and major highways nearby.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- Finished lower level with flex rooms and a 3/4 bath
- 2,646 square feet on a 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,660
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,200
$773.2K
Cap Rate 7%
$552,286
$552.3K
Cap Rate 9%
$429,556
$429.6K
Market Conditions
NOI Build-Up for 2,646 SF
Gross rent
$58.7K $22.20/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$55.2K $20.87/SF
− OpEx
−$16.6K −$6.26/SF
NOI
$38.7K $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%
$773,200
Cap Rate 7%
$552,286
Cap Rate 9%
$429,556
Alternative Uses
Best Use
Multifamily LT 5
$552.3K
$483.3K – $644.3K
NOI $38,660 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$507.3K
$443.9K – $591.8K
NOI $35,509 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$631.3K
$552.4K – $736.5K
NOI $44,190 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
654
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 - Two matching apartments are complemented by additional finished space and a three-quarter bath below grade.
Where is this duplex located?
The property is located at 3847 Cedar Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; Finished lower level with flex rooms and a 3/4 bath; 2,646 square feet on a 0.11‑acre lot
