Two-Unit Duplex with
For Sale
$459,900
5001 Thomas Ave S, Minneapolis, MN 55410
Each residence offers hardwood floors, a dining area, a sunroom, and access to a separate garage and driveway.
Property Size1,730 SF
Price / SF$265.84
Days on Market86
Property Features for 5001 Thomas Ave S
General Information
Standard status
Active
Size
1,730 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
shared basement laundry
ample storage
Building Details
Year Built
1941
Listing Agency:
RE/MAX Advantage Plus
Listed By:
Jason Walgrave · License #MN 20359201
(612) 419-9425
Source:
Vibemn
Added: Jul 26
Changed: Oct 10
Last Checked: Oct 7 at 1:48PM
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 RE/MAX Advantage Plus
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Investment Insights
Based on property information with market context.
Built in 1941, this 1730 SF duplex contains two residences, each arranged with one bedroom and one bathroom. Both units feature hardwood floors, well-lit living areas, kitchens connected to dining spaces, and an additional sunroom. Shared basement laundry and storage support the property’s practical layout, while separate garages and driveways serve each residence.
The property is located at 5001 Thomas Ave S in Minneapolis, near Lake Harriet, Bde Maka Ska, scenic trails, and neighborhood parks. Its two-unit configuration provides flexibility for an owner-occupant or an investor planning rental use, including short- or long-term tenancy.
The property is located at 5001 Thomas Ave S in Minneapolis, near Lake Harriet, Bde Maka Ska, scenic trails, and neighborhood parks. Its two-unit configuration provides flexibility for an owner-occupant or an investor planning rental use, including short- or long-term tenancy.
Key Highlights
- 1730 SF duplex constructed in 1941
- Two units, each with 1 bedroom and 1 bath
- Sunroom included in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,277
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,540
$505.5K
Cap Rate 7%
$361,100
$361.1K
Cap Rate 9%
$280,856
$280.9K
Market Conditions
NOI Build-Up for 1,730 SF
Gross rent
$38.4K $22.20/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$36.1K $20.87/SF
− OpEx
−$10.8K −$6.26/SF
NOI
$25.3K $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 Rate 5%
$505,540
Cap Rate 7%
$361,100
Cap Rate 9%
$280,856
Alternative Uses
Best Use
Multifamily LT 5
$361.1K
$316.0K – $421.3K
NOI $25,277 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$331.7K
$290.2K – $386.9K
NOI $23,216 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$412.7K
$361.2K – $481.5K
NOI $28,892 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 55410, MN
21,352
Population
8,685
Households
2.5
Avg Household Size
40
Median Age
78%
College-Educated
99%
High-School Grad
3.1 sq mi
ZIP Area
6,888
Density / Sq Mi
$144,973
Median Household Income
$77,518
Median Earnings
$1,622
Median Rent
$597,400
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 - Each residence offers hardwood floors, a dining area, a sunroom, and access to a separate garage and driveway.
Where is this duplex located?
The property is located at 5001 Thomas Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 1730 SF duplex constructed in 1941; Two units, each with 1 bedroom and 1 bath; Sunroom included in both residences
