Duplex with Detached
For Sale
$425,000
3954 Portland Avenue, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size2,491 SF
Lot Size0.11 Acres
Price / SF$170.61
Days on Market117
Property Features for 3954 Portland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Laundry Room, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Basement, Bathroom 3
Parking features
Garage - Detached
Fencing
Chain Link
Subdivision
Wolverton & Lewis Add
Lot features
Corner Lot
High school district
Minneapolis
Directions
Corner lot at Portland Ave S and E 40th St.
Standard status
Active
APN
1002824110170
Size
2,491 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6426
Utilities
Heating system
Radiant, Forced Air
Amenities
shared laundry
Building Details
Year built
1889
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Alyssa Strom
(612) 821-7400
Added: Jun 11
Changed: Oct 1
Last Checked: Oct 5 at 3:06PM
MLS# 7091487
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 1889 duplex on a 0.11-acre corner lot has two units with different layouts. The main-floor residence includes two bedrooms, one bathroom, and hardwood floors. The upper apartment spans two levels and has three bedrooms and two bathrooms. Kitchens and bathrooms have been updated, and laundry is shared between the units.
A detached two-car garage provides additional on-site parking. The property is at 3954 Portland Avenue in Minneapolis, Minnesota.
A detached two-car garage provides additional on-site parking. The property is at 3954 Portland Avenue in Minneapolis, Minnesota.
Key Highlights
- Two‑unit property on a 0.11‑acre corner lot
- Main‑level unit has 2 bedrooms, 1 bathroom, and hardwood floors
- Upper unit spans two levels and includes 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,395
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$727,900
$727.9K
Cap Rate 7%
$519,929
$519.9K
Cap Rate 9%
$404,389
$404.4K
Market Conditions
NOI Build-Up for 2,491 SF
Gross rent
$55.3K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$52.0K $20.87/SF
− OpEx
−$15.6K −$6.26/SF
NOI
$36.4K $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%
$727,900
Cap Rate 7%
$519,929
Cap Rate 9%
$404,389
Alternative Uses
Best Use
Multifamily LT 5
$519.9K
$454.9K – $606.6K
NOI $36,395 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$477.6K
$417.9K – $557.2K
NOI $33,429 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$594.3K
$520.0K – $693.4K
NOI $41,601 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
866
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two distinct unit layouts include updated kitchens and bathrooms, with shared laundry and a detached garage.
Where is this duplex located?
The property is located at 3954 Portland Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit property on a 0.11‑acre corner lot; Main‑level unit has 2 bedrooms, 1 bathroom, and hardwood floors; Upper unit spans two levels and includes 3 bedrooms and 2 bathrooms
