Side-by-Side Duplex
5038 Nicollet Avenue Minneapolis, MN 55419
5038 Nicollet Avenue, Minneapolis, MN, 55419
$524,900
For Sale
$524,900
MULTI_FAMILY - Minneapolis, MN
Property Size1,867 SF
Lot Size0.17 Acres
Price / SF$281.15
Days on Market11
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 Agency
Tangletown Realty
(612) 296-6900
1705 Marion St, Roseville, MN
Listed by
Angela P. Larson
(651) 203-1788
Added: Jul 8 Checked: Jul 18 at 2:06 pm
MLS# 7104971
Listing URL
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 side-by-side duplex offers classic character alongside multiple updates and long-term ownership. The interior features recently refinished hardwood floors, some original cabinetry, built-ins, and period-appropriate bathroom details. Externally, the home presents a brick exterior with mature landscaping. A full basement provides additional storage for the property. The backyard includes a separated, fenced area associated with one unit, offering a practical outdoor space with pet-friendly separation.
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.
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 |
1,867 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$389.7K
$341.0K – $454.6K
NOI $27,278 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$357.9K
$313.2K – $417.6K
NOI $25,055 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$445.4K
$389.8K – $519.7K
NOI $31,180 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Side-by-side duplex with refinished hardwoods, brick exterior, and a fenced backyard area for one unit.
Where is this duplex located?
The property is located at 5038 Nicollet Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 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
