Updated Duplex with Two-Car
For Sale
$330,000
4165 Aldrich Avenue N, Minneapolis, MN 55412
Residential Income, Minneapolis, MN
Property Size2,172 SF
Lot Size0.19 Acres
Price / SF$151.93
Days on Market13
Property Features for 4165 Aldrich Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2
Parking features
Garage - Detached
Exterior features
Brick/Stone, Stucco, Vinyl
Subdivision
Auditors Sub 198
Lot features
Irregular Lot
High school district
Minneapolis
Directions
Lyndale Ave N to 42nd Ave N, West 1 block to Aldrich Ave N
Standard status
Active
APN
0402924110027
Size
2,172 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6192
Utilities
Heating system
Forced Air
Amenities
laundry
Building Details
Year built
1925
Building materials
Block, Brick, Concrete, Stone
Roof type
Shingle
Listing Agency:
Keller Williams Integrity NW · Keller Williams Realty
(763) 441-2248
Listed By:
Steven Degreeff
(612) 247-7588
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 27 at 12:06PM
MLS# 7138595
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 2,172-square-foot duplex contains an up-and-down configuration with two separate residences. The main-level apartment offers 3 bedrooms and 1 bathroom, while the upper apartment includes 2 bedrooms and 1 bathroom. Updates were completed in 2023, and the building uses forced-air heating.
Laundry is provided for both units, with basement laundry serving the main-level residence and living-level laundry in the upper apartment. The property also includes a detached 2-car garage on a 0.19-acre lot. Built in 1925, the exterior incorporates brick/stone, stucco, and vinyl finishes, with a shingle roof.
Laundry is provided for both units, with basement laundry serving the main-level residence and living-level laundry in the upper apartment. The property also includes a detached 2-car garage on a 0.19-acre lot. Built in 1925, the exterior incorporates brick/stone, stucco, and vinyl finishes, with a shingle roof.
Key Highlights
- Updated in 2023
- Fully occupied duplex with one 3‑bedroom, 1‑bathroom unit and one 2‑bedroom, 1‑bathroom unit
- 2,172 square feet on a 0.19‑acre lot
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
$29,148
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
8.83%
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%
$582,960
$583.0K
Cap Rate 7%
$416,400
$416.4K
Cap Rate 9%
$323,867
$323.9K
Market Conditions
NOI Build-Up for 2,172 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
$56.6K $26.04/SF
− Vacancy
−$3.6K −$1.64/SF
EGI
$53.0K $24.40/SF
− OpEx
−$23.8K −$10.98/SF
NOI
$29.1K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$582,960
Cap Rate 7%
$416,400
Cap Rate 9%
$323,867
Alternative Uses
Best Use
Multifamily LT 5
$453.3K
$396.7K – $528.9K
NOI $31,734 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$416.4K
$364.4K – $485.8K
NOI $29,148 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$518.2K
$453.4K – $604.6K
NOI $36,274 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Explore this area
Business Placement
Demographics for 55412, MN
23,800
Population
9,676
Households
2.5
Avg Household Size
33
Median Age
28%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
7,000
Density / Sq Mi
$71,905
Median Household Income
$42,494
Median Earnings
$1,340
Median Rent
$226,400
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
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with separate laundry arrangements and a detached garage.
Where is this duplex located?
The property is located at 4165 Aldrich Avenue N Minneapolis, MN.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Updated in 2023; Fully occupied duplex with one 3‑bedroom, 1‑bathroom unit and one 2‑bedroom, 1‑bathroom unit; 2,172 square feet on a 0.19‑acre lot
