Updated Duplex with Detached
For Sale
$865,000
5005 Oliver Ave S, Minneapolis, MN 55411
Two three-bedroom units feature separate boilers, shared laundry, and an insulated detached garage with three stalls.
Property Size3,864 SF
Price / SF$223.86
Days on Market42
Property Features for 5005 Oliver Ave S
General Information
Standard status
Active
Size
3,864 SF
Total Parking Spaces
3
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,858
Amenities
central air conditioning
sunroom
shared laundry area
solar panels
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Compass
(952) 847-3406
Listed By:
Paul Begich
(952) 847-3406
Source:
Exprealty
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 19 at 10:19AM
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 Compass
Investment Insights
Based on property information with market context.
This Minneapolis duplex contains two residences, each with approximately 1,288 finished square feet, three bedrooms, and one full bathroom. The upper home includes a renovated kitchen and bathroom, central air conditioning, a sunroom, and substantial natural light; its third bedroom is currently used as an office. Separate boilers serve the units independently. The property also includes owned solar panels, a finished shared laundry area, a new sewer line, a new A/C condenser, and refreshed exterior paint.
An insulated detached three-stall garage provides two stalls for the upper residence and one for the lower. The property is located at 5005 Oliver Ave S in Minneapolis, within the Lynnhurst neighborhood and a short distance from Lake Harriet. The lower unit is leased through July 31, 2027, while the upper lease ends September 30, 2026.
An insulated detached three-stall garage provides two stalls for the upper residence and one for the lower. The property is located at 5005 Oliver Ave S in Minneapolis, within the Lynnhurst neighborhood and a short distance from Lake Harriet. The lower unit is leased through July 31, 2027, while the upper lease ends September 30, 2026.
Key Highlights
- Two‑unit duplex with approximately 1,288 finished square feet per residence
- Each unit includes three bedrooms and one full bathroom
- Insulated detached three‑stall garage allocated two stalls upstairs and one downstairs
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
$56,456
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
6.53%
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%
$1,129,120
$1.1M
Cap Rate 7%
$806,514
$806.5K
Cap Rate 9%
$627,289
$627.3K
Market Conditions
NOI Build-Up for 3,864 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
$85.8K $22.20/SF
− Vacancy
−$5.1K −$1.33/SF
EGI
$80.7K $20.87/SF
− OpEx
−$24.2K −$6.26/SF
NOI
$56.5K $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%
$1,129,120
Cap Rate 7%
$806,514
Cap Rate 9%
$627,289
Alternative Uses
Best Use
Multifamily LT 5
$806.5K
$705.7K – $940.9K
NOI $56,456 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$740.8K
$648.2K – $864.2K
NOI $51,854 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$921.9K
$806.6K – $1.08M
NOI $64,531 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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 - Two three-bedroom units feature separate boilers, shared laundry, and an insulated detached garage with three stalls.
Where is this duplex located?
The property is located at 5005 Oliver Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 1,288 finished square feet per residence; Each unit includes three bedrooms and one full bathroom; Insulated detached three‑stall garage allocated two stalls upstairs and one downstairs
