Updated Two-Unit
For Sale
$449,000
Pending
4230 39th Avenue S, Minneapolis, MN 55406
Separate residences include flexible lower-level space and a private entrance for the upper unit.
Property Size2,626 SF
Days on Market50
Property Features for 4230 39th Avenue S
General Information
Standard status
Pending
Size
2,626 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Longfellow
Units
Unit Mix
3BR/2BA, 1BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
private exterior entrance
walk-in closet
shop space
garage door opener
Building Details
Year Built
1925
Listing Agency:
Arc Properties
Listed By:
Eric Eickhof
(952) 472-6200
Source:
Fultonrealty
Added: Sep 6
Changed: Oct 25
Last Checked: Oct 24 at 4:34PM
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 Arc Properties
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Investment Insights
Based on property information with market context.
Built in 1925, this Minneapolis duplex contains 2,626 square feet across two residences. The main-floor unit includes 3 bedrooms, 2 bathrooms, a large kitchen, in-unit laundry, and a finished lower level with egress, storage, and space for additional living or work areas. The upper unit has 1 bedroom, 1 bathroom, a separate exterior entrance, and a large walk-in closet with storage.
Recent property improvements include a new roof, siding, gutters, and a furnace with a new heat exchanger. A 2.5-car garage adds shop space, 220-amp service, and an app-controlled door opener, while the driveway provides additional off-street parking. The property is located at 4230 39th Avenue S in Minneapolis, approximately 5 minutes from Minnehaha Falls.
Recent property improvements include a new roof, siding, gutters, and a furnace with a new heat exchanger. A 2.5-car garage adds shop space, 220-amp service, and an app-controlled door opener, while the driveway provides additional off-street parking. The property is located at 4230 39th Avenue S in Minneapolis, approximately 5 minutes from Minnehaha Falls.
Key Highlights
- 2,626‑square‑foot duplex with 2 residential units
- Main unit offers 3 bedrooms, 2 bathrooms, in‑unit laundry, and a finished egress‑equipped lower level
- Upper unit includes 1 bedroom, 1 bathroom, private exterior entrance, and large walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,031
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,620
$680.6K
Cap Rate 7%
$486,157
$486.2K
Cap Rate 9%
$378,122
$378.1K
Market Conditions
NOI Build-Up for 2,626 SF
Gross rent
$52.0K $19.80/SF
− Vacancy
−$3.4K −$1.29/SF
EGI
$48.6K $18.51/SF
− OpEx
−$14.6K −$5.55/SF
NOI
$34.0K $12.96/SF
Area
ZIP 55406
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,620
Cap Rate 7%
$486,157
Cap Rate 9%
$378,122
Alternative Uses
Best Use
Multifamily LT 5
$486.2K
$425.4K – $567.2K
NOI $34,031 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$452.5K
$395.9K – $527.9K
NOI $31,673 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$767.3K
$671.4K – $895.2K
NOI $53,713 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
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Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences include flexible lower-level space and a private entrance for the upper unit.
Where is this duplex located?
The property is located at 4230 39th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,626‑square‑foot duplex with 2 residential units; Main unit offers 3 bedrooms, 2 bathrooms, in‑unit laundry, and a finished egress‑equipped lower level; Upper unit includes 1 bedroom, 1 bathroom, private exterior entrance, and large walk‑in closet
