5038 Nicollet Avenue Minneapolis, MN 55419
MULTI_FAMILY - Minneapolis, MN
- Added:
- Jul 8, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 11 at 1:06 pm
Property Features for 5038 Nicollet Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 1, Basement
- Parking features
- Garage - Detached, Garage
- Exterior features
- Brick/Stone
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 1502824310100
- Size
- 1,867 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7151
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1940
- Building materials
- Brick, Frame
Listing agent Angela P. Larson (651) 203-1788
Listing office Tangletown Realty 1705 Marion St, Roseville, MN (612) 296-6900
Listing date Jul 8, 2026
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.
The property is located in Minneapolis, MN 55419, at 5038 Nicollet Avenue. With a lot size of 0.17 acres and a total property size of 1,867 square feet, it is configured as a compact, two-unit residential income asset within the Minneapolis market.
This duplex can suit buyers looking to owner-occupy while maintaining rental income potential, or investors seeking a residential income property with updated finishes and a layout designed for two households. The combination of interior updates, basement storage, and separated outdoor space for one unit supports everyday livability and tenant functionality.
Key Highlights
- Side‑by‑side duplex with brick/stone exterior and frame construction (Year built 1940)
- Refinished hardwood floors and period features including original cabinetry, built‑ins, and period‑appropriate bathroom elements
- Two bathrooms, plus 4 bedrooms (Bedroom 1, 2, 3, and 4) and a full basement for extra storage
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.4k | $22.20 |
| − Vacancy | −$2.5k | −$1.33 |
| EGI | $39.0k | $20.87 |
| − OpEx | −$11.7k | −$6.26 |
| NOI | $27.3k | $14.61 |
