Duplex with
New
For Sale
$599,000
416 8th Avenue SE, Minneapolis, MN 55414
Residential Income, Minneapolis, MN
Property Size2,922 SF
Price / SF$204
Days on Market6
Property Features for 416 8th Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 8, Bedroom 7
High school district
Minneapolis
Directions
UNIVERSITY AVE TO 8TH AVE N TO 416
Standard status
Active
APN
2402924320012
Size
2,922 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10487
Utilities
Heating system
Hot Water(Heating)
Amenities
large backyard
additional outdoor space
Building Details
Year built
1900
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Herman S Antonov
(612) 751-9303
Added: Sep 15
Changed: Sep 19
Last Checked: Sep 20 at 4:06AM
MLS# 7140761
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 2,922-square-foot duplex, built in 1900, contains two residential units with eight bedrooms, three bathrooms, functional layouts, shared areas, and a basement. Hot-water heating serves the property, while the exterior includes a large backyard, additional outdoor space, and off-street parking. The configuration is described as offering the ability to convert to a triplex.
Located at 416 8th Avenue SE in Minneapolis, 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 in the surrounding area. The property’s two-unit format and stated conversion possibility provide a range of residential income configurations, subject to applicable requirements.
Located at 416 8th Avenue SE in Minneapolis, 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 in the surrounding area. The property’s two-unit format and stated conversion possibility provide a range of residential income configurations, subject to applicable requirements.
Key Highlights
- 2,922‑square‑foot duplex with two residential units
- Eight bedrooms, three bathrooms, and a basement
- Built in 1900 with hot‑water heating
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
Location Intelligence
Trade Area within ½ mile
1,479
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
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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 a basement, off-street parking, and flexible residential layouts.
Where is this duplex located?
The property is located at 416 8th Avenue 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 residential units; Eight bedrooms, three bathrooms, and a basement; Built in 1900 with hot‑water heating
