Duplex Near Lake
For Sale
$725,000
5004 Logan Avenue S, Minneapolis, MN 55419
Charming Minneapolis duplex near Minnehaha Parkway and Lake Harriet.
Property Size3,387 SF
Lot Size0.12 Acres
Days on Market361
Property Features for 5004 Logan Avenue S
General Information
Standard status
Active
Size
3,387 SF
Lot size
0.12 Acres
Property subtype
Duplex
Amenities
Forced Air
Radiant Floor
Dishwasher
Stainless Steel Appliances
Range
Age 8 Years or Less, Asphalt
Building Details
Building Size
3,387 SF
Year Built
1948
Listing Agency:
(612) 741-6425
Listed By:
Perry Hurth · License #RS0025658
(612) 741-6425
Source:
Kw
Added: Aug 26, 2025
Changed: Aug 9
Last Checked: Aug 20 at 7:32PM
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 Perry Hurth
Investment Insights
Based on property information with market context.
This up-and-down duplex is located a half block from Minnehaha Parkway and two blocks from Lake Harriet. Both units feature identical layouts with old-world charm and modern updates. Details include hardwood floors, gas fireplaces, granite counters, and stainless steel appliances. The units also have nice-sized bedrooms and a new front east-facing porch. A bonus garden-level unit is completely updated with another bedroom and heated bathroom flooring. The property is near shops, restaurants, schools and a church. It is located in Minneapolis' most sought-after neighborhoods.
Key Highlights
- Prime location: Half block to Minnehaha Parkway and two blocks to Lake Harriet.
- Up‑and‑down duplex: Ideal for investors or owner‑occupants seeking rental income.
- Identical unit layouts: Showcasing old‑world charm with modern updates.
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
$49,486
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
6.83%
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%
$989,720
$989.7K
Cap Rate 7%
$706,943
$706.9K
Cap Rate 9%
$549,844
$549.8K
Market Conditions
NOI Build-Up for 3,387 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
$75.2K $22.20/SF
− Vacancy
−$4.5K −$1.33/SF
EGI
$70.7K $20.87/SF
− OpEx
−$21.2K −$6.26/SF
NOI
$49.5K $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 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%
$989,720
Cap Rate 7%
$706,943
Cap Rate 9%
$549,844
Alternative Uses
Best Use
Multifamily LT 5
$706.9K
$618.6K – $824.8K
NOI $49,486 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$649.3K
$568.2K – $757.6K
NOI $45,453 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$808.1K
$707.1K – $942.8K
NOI $56,565 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 55419, MN
27,919
Population
12,119
Households
2.3
Avg Household Size
39
Median Age
72%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
6,647
Density / Sq Mi
$143,254
Median Household Income
$77,467
Median Earnings
$1,476
Median Rent
$479,000
Median Home Value
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 - Charming Minneapolis duplex near Minnehaha Parkway and Lake Harriet.
Where is this duplex located?
The property is located at 5004 Logan Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Prime location: Half block to Minnehaha Parkway and two blocks to Lake Harriet.; Up‑and‑down duplex: Ideal for investors or owner‑occupants seeking rental income.; Identical unit layouts: Showcasing old‑world charm with modern updates.
