Vacant Two-Unit
429 2nd Avenue E, Shakopee, MN 55379
For Sale
$319,990
Residential Income, Shakopee, MN
Property Size1,784 SF
Lot Size0.23 Acres
Price / SF$179.37
Days on Market48
Property Features for 429 2nd Avenue E
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Buildings
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Taylor Doolittle
(952) 829-2900
Added: Sep 23
Changed: Oct 23
Last Checked: Nov 9 at 4:06AM
MLS# 7149241
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.
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,784 square feet on a 0.23-acre lot. Each residence has two bedrooms and a full bathroom. The main-level unit includes an eat-in kitchen, stacked laundry, and a covered front porch, while the upper unit features a living room with knotty pine finishes, a private bath, and a kitchen with a gas range. Both units are vacant, freshly painted, and carpeted, with independent electric meters.
A detached two-car garage opens to the alley, with gravel parking alongside it and additional yard area on the lot. The property at 429 2nd Avenue E is within walking distance of downtown Shakopee shops and restaurants. Highway 169, Canterbury Park, and the Minnesota River are a short drive away.
A detached two-car garage opens to the alley, with gravel parking alongside it and additional yard area on the lot. The property at 429 2nd Avenue E is within walking distance of downtown Shakopee shops and restaurants. Highway 169, Canterbury Park, and the Minnesota River are a short drive away.
Key Highlights
- 1,784‑square‑foot duplex on a 0.23‑acre lot
- Two units, each with 2 bedrooms and 1 full bathroom
- Both units are vacant, freshly painted, and carpeted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,066
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,320
$521.3K
Cap Rate 7%
$372,371
$372.4K
Cap Rate 9%
$289,622
$289.6K
Market Conditions
NOI Build-Up for 1,784 SF
Gross rent
$39.6K $22.20/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$37.2K $20.87/SF
− OpEx
−$11.2K −$6.26/SF
NOI
$26.1K $14.61/SF
Area
Scott County, 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 Rate 5%
$521,320
Cap Rate 7%
$372,371
Cap Rate 9%
$289,622
Alternative Uses
Best Use
Multifamily LT 5
$372.4K
$325.8K – $434.4K
NOI $26,066 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$342.0K
$299.3K – $399.0K
NOI $23,941 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$425.6K
$372.4K – $496.6K
NOI $29,794 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 55379, MN
48,254
Population
18,028
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
93%
High-School Grad
57.9 sq mi
ZIP Area
833
Density / Sq Mi
$109,824
Median Household Income
$55,390
Median Earnings
$1,540
Median Rent
$366,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate electric metering and detached garage parking.
Where is this duplex located?
The property is located at 429 2nd Avenue E Shakopee, MN.
What is the asking price?
The asking price for this property is $319,990.
What are key features of this property?
This property features: 1,784‑square‑foot duplex on a 0.23‑acre lot; Two units, each with 2 bedrooms and 1 full bathroom; Both units are vacant, freshly painted, and carpeted
