Duplex with Rooftop
For Sale
$425,000
4029 11th Ave S, Minneapolis, MN 55407
Vacant two-unit property with updated kitchens, original hardwood floors, and dedicated outdoor areas for each residence.
Property Size2,080 SF
Price / SF$204.33
Days on Market24
Property Features for 4029 11th Ave S
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,034
Amenities
original hardwood floors
updated kitchens
basement
rooftop deck
private balcony
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty Integrity
(612) 290-5998
Listed By:
Kari M Lundin
(612) 290-5998
Source:
Exprealty
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 11 at 11:57AM
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 Keller Williams Realty Integrity
Investment Insights
Based on property information with market context.
This 2,080-square-foot duplex includes two vacant units with a blend of preserved character and contemporary improvements. Original hardwood flooring extends through the residences, while updated kitchens provide refreshed functionality. The property also includes a deep basement suited to storage or workshop use, along with a rooftop deck and private balcony that provide separate outdoor areas for the units.
Located at the end of a dead-end street in Minneapolis’ Bancroft neighborhood, the property offers a more private setting within the city. Its vacant status supports flexible occupancy planning, whether used as a primary residence with a second unit or operated as a two-unit investment property.
Located at the end of a dead-end street in Minneapolis’ Bancroft neighborhood, the property offers a more private setting within the city. Its vacant status supports flexible occupancy planning, whether used as a primary residence with a second unit or operated as a two-unit investment property.
Key Highlights
- Two‑unit duplex with 2,080 SF of building area
- Both units are vacant
- Updated kitchens paired with original hardwood floors
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
$30,390
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
7.15%
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%
$607,800
$607.8K
Cap Rate 7%
$434,143
$434.1K
Cap Rate 9%
$337,667
$337.7K
Market Conditions
NOI Build-Up for 2,080 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
$46.2K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$43.4K $20.87/SF
− OpEx
−$13.0K −$6.26/SF
NOI
$30.4K $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 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%
$607,800
Cap Rate 7%
$434,143
Cap Rate 9%
$337,667
Alternative Uses
Best Use
Multifamily LT 5
$434.1K
$379.9K – $506.5K
NOI $30,390 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$398.8K
$348.9K – $465.2K
NOI $27,913 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$496.2K
$434.2K – $579.0K
NOI $34,737 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,343
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 - Vacant two-unit property with updated kitchens, original hardwood floors, and dedicated outdoor areas for each residence.
Where is this duplex located?
The property is located at 4029 11th Ave S 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 duplex with 2,080 SF of building area; Both units are vacant; Updated kitchens paired with original hardwood floors
