Updated Side-by-Side
For Sale
$495,000
3952 Bloomington Ave, Minneapolis, MN 55407
Two residences feature refreshed kitchens, modern finishes, and finished lower-level areas.
Property Size2,454 SF
Price / SF$201.71
Days on Market12
Property Features for 3952 Bloomington Ave
General Information
Standard status
Active
Size
2,454 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,066
Building Details
Buildings
1
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Caleb Carlson
(701) 520-8569
Source:
Exprealty
Added: Aug 25
Changed: Sep 3
Last Checked: Sep 5 at 2:00PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex at 3952 Bloomington Ave in Minneapolis, MN, contains two separate residences, each with two bedrooms and two full bathrooms. Both units include updated kitchens, modern finishes, comfortable living areas, and completed lower-level space. Separate entrances support independent occupancy, while the fenced outdoor area adds private exterior space.
The property was previously operated as furnished short-term rentals. Its existing configuration also supports a transition to long-term rental use or an owner-occupant arrangement with one residence occupied and the other producing income.
The property was previously operated as furnished short-term rentals. Its existing configuration also supports a transition to long-term rental use or an owner-occupant arrangement with one residence occupied and the other producing income.
Key Highlights
- Side‑by‑side duplex with two bedrooms and two full bathrooms in each unit
- Updated kitchens and modern finishes throughout both residences
- Finished lower‑level areas provide additional usable space
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
$35,855
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
7.24%
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%
$717,100
$717.1K
Cap Rate 7%
$512,214
$512.2K
Cap Rate 9%
$398,389
$398.4K
Market Conditions
NOI Build-Up for 2,454 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
$54.5K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$51.2K $20.87/SF
− OpEx
−$15.4K −$6.26/SF
NOI
$35.9K $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 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%
$717,100
Cap Rate 7%
$512,214
Cap Rate 9%
$398,389
Alternative Uses
Best Use
Multifamily LT 5
$512.2K
$448.2K – $597.6K
NOI $35,855 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$470.5K
$411.7K – $548.9K
NOI $32,932 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$585.5K
$512.3K – $683.1K
NOI $40,983 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
725
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
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 - Two residences feature refreshed kitchens, modern finishes, and finished lower-level areas.
Where is this duplex located?
The property is located at 3952 Bloomington Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two bedrooms and two full bathrooms in each unit; Updated kitchens and modern finishes throughout both residences; Finished lower‑level areas provide additional usable space
