Side-by-Side Brick
New
For Sale
$400,000
5040 Nicollet Ave, Minneapolis, MN 55419
Two residences feature hardwood flooring and private laundry, with a detached garage and additional off-street parking.
Property Size2,346 SF
Price / SF$170.50
Days on Market5
Property Features for 5040 Nicollet Ave
General Information
Standard status
Active
Size
2,346 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,052
Amenities
hardwood floors
in-unit laundry
Building Details
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Preferred Rlty
(952) 746-9696
Listed By:
Lance Berwald
(612) 669-0596
Source:
Exprealty
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:02AM
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 Keller Williams Preferred Rlty
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Investment Insights
Based on property information with market context.
This Minneapolis duplex pairs two side-by-side brick residences, each with hardwood floors and in-unit laundry. The property totals 2,346 square feet and includes a detached two-car garage, along with additional off-street parking.
At 5040 Nicollet Ave, the property is near 50th & Nicollet in the Tangletown neighborhood. Minnehaha Creek, lakes, parks, schools, shops, restaurants, and transit options are within walking distance.
At 5040 Nicollet Ave, the property is near 50th & Nicollet in the Tangletown neighborhood. Minnehaha Creek, lakes, parks, schools, shops, restaurants, and transit options are within walking distance.
Key Highlights
- Side‑by‑side brick duplex totaling 2,346 square feet
- Hardwood floors and in‑unit laundry in each residence
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,277
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$685,540
$685.5K
Cap Rate 7%
$489,671
$489.7K
Cap Rate 9%
$380,856
$380.9K
Market Conditions
NOI Build-Up for 2,346 SF
Gross rent
$52.1K $22.20/SF
− Vacancy
−$3.1K −$1.33/SF
EGI
$49.0K $20.87/SF
− OpEx
−$14.7K −$6.26/SF
NOI
$34.3K $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%
$685,540
Cap Rate 7%
$489,671
Cap Rate 9%
$380,856
Alternative Uses
Best Use
Multifamily LT 5
$489.7K
$428.5K – $571.3K
NOI $34,277 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$449.8K
$393.5K – $524.7K
NOI $31,483 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$559.7K
$489.7K – $653.0K
NOI $39,179 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
696
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature hardwood flooring and private laundry, with a detached garage and additional off-street parking.
Where is this duplex located?
The property is located at 5040 Nicollet Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Side‑by‑side brick duplex totaling 2,346 square feet; Hardwood floors and in‑unit laundry in each residence; Detached two‑car garage
