Up-and-Down
For Sale
$599,000
416 8th Ave SE, Minneapolis, MN 55414
Two-unit multifamily property with shared areas, outdoor space, and off-street parking near the University of Minnesota.
Property Size2,922 SF
Price / SF$204
Days on Market10
Property Features for 416 8th Ave SE
General Information
Standard status
Active
Size
2,922 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
backyard
off-street parking
outdoor space
Building Details
Year Built
1900
Listing Agency:
eXp Realty
Listed By:
Herman S Antonov
(612) 840-6507
Source:
Searchhousesnow
Added: Sep 18
Last Checked: Sep 26 at 9:56AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,922-square-foot duplex, built in 1900, is arranged as two units in an up-and-down configuration. The property includes functional layouts, shared interior areas, abundant natural light, a large backyard, and additional outdoor space. Its layout also offers the stated ability to convert the property into a triplex.
Located in Minneapolis’s Marcy-Holmes neighborhood, the property is near the University of Minnesota, Dinkytown, and Northeast Minneapolis. Neighborhood shops, restaurants, parks, trails, public transportation, and major highways are also identified nearby. Generous off-street parking adds practical convenience for residents.
Located in Minneapolis’s Marcy-Holmes neighborhood, the property is near the University of Minnesota, Dinkytown, and Northeast Minneapolis. Neighborhood shops, restaurants, parks, trails, public transportation, and major highways are also identified nearby. Generous off-street parking adds practical convenience for residents.
Key Highlights
- 2,922‑square‑foot duplex with two units
- Built in 1900 with an up‑and‑down unit configuration
- Stated ability to convert the property into a triplex
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
$42,692
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
7.13%
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%
$853,840
$853.8K
Cap Rate 7%
$609,886
$609.9K
Cap Rate 9%
$474,356
$474.4K
Market Conditions
NOI Build-Up for 2,922 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
$64.9K $22.20/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$61.0K $20.87/SF
− OpEx
−$18.3K −$6.26/SF
NOI
$42.7K $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 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%
$853,840
Cap Rate 7%
$609,886
Cap Rate 9%
$474,356
Alternative Uses
Best Use
Multifamily LT 5
$609.9K
$533.7K – $711.5K
NOI $42,692 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$560.2K
$490.2K – $653.5K
NOI $39,212 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$697.1K
$610.0K – $813.3K
NOI $48,799 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,715
Businesses Nearby
Explore this area
Business Placement
Demographics for 55414, MN
36,600
Population
15,541
Households
2.4
Avg Household Size
26
Median Age
68%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
11,806
Density / Sq Mi
$47,004
Median Household Income
$18,386
Median Earnings
$1,368
Median Rent
$454,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit multifamily property with shared areas, outdoor space, and off-street parking near the University of Minnesota.
Where is this duplex located?
The property is located at 416 8th Ave SE Minneapolis, MN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,922‑square‑foot duplex with two units; Built in 1900 with an up‑and‑down unit configuration; Stated ability to convert the property into a triplex
