Two-Unit Duplex with
For Sale
$449,900
5001 Thomas Avenue S, Minneapolis, MN 55410
Residential Income, Minneapolis, MN
Property Size1,730 SF
Lot Size0.11 Acres
Price / SF$260.06
Days on Market185
Property Features for 5001 Thomas Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Basement, Bedroom 1, Laundry Room, Bathroom 2
Parking features
Garage - Attached, Open, Garage, Driveway
Patio and Porch features
Porch
Subdivision
Reeve Park 3rd Div
Lot features
Tree Coverage - Light
High school district
Minneapolis
Directions
50th to Thomas, S to property
Standard status
Active
APN
1702824410108
Size
1,730 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7961
Utilities
Heating system
Forced Air
Amenities
hardwood floors
sunroom
shared basement laundry
Building Details
Year built
1941
Roof type
Shingle
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(952) 226-7700
Listed By:
Jason Walgrave · License #MN 20359201
(612) 419-9425
Added: Apr 9
Changed: Oct 9
Last Checked: Oct 10 at 11:06AM
MLS# 7052362
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 1,730-square-foot duplex contains two residences, each arranged with one bedroom and one bathroom. Hardwood flooring, a kitchen with adjoining dining space, and a sunroom are present in both units. The building also has shared basement laundry and storage. Built in 1941, it features forced-air heating and a shingle roof.
Each residence has a separate garage and driveway, with additional open parking. The property occupies a 0.11-acre lot in Minneapolis, Minnesota.
Each residence has a separate garage and driveway, with additional open parking. The property occupies a 0.11-acre lot in Minneapolis, Minnesota.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,730 square feet on a 0.11‑acre lot
- Sunroom, hardwood floors, and kitchen with adjoining dining area in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,277
Cap Rate
5.62%
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 5.62%
Second Best
Apartment 5plus
$331.7K
$290.2K – $386.9K
NOI $23,216 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$412.7K
$361.2K – $481.5K
NOI $28,892 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
525
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a one-bedroom, one-bath layout, sunroom, and access to shared laundry and basement storage.
Where is this duplex located?
The property is located at 5001 Thomas Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two units, each with 1 bedroom and 1 bathroom; 1,730 square feet on a 0.11‑acre lot; Sunroom, hardwood floors, and kitchen with adjoining dining area in each unit
