Side-by-Side Brick
New
For Sale
$400,000
5040 Nicollet Avenue, Minneapolis, MN 55419
Residential Income, Minneapolis, MN
Property Size2,346 SF
Lot Size0.17 Acres
Price / SF$170.50
Days on Market5
Property Features for 5040 Nicollet Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family, Residential-Single Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Basement
Parking features
Garage, Driveway, Garage - Detached
Patio and Porch features
Porch
Subdivision
Washburn hill Addn to Mpls
Lot features
Public Transit (w/in 6 blks), Irregular Lot, Tree Coverage - Light
High school district
Minneapolis
Directions
50th St. to Nicollet, South to Home
Standard status
Active
APN
1502824310099
Size
2,346 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9052
Utilities
Heating system
Forced Air
Amenities
hardwood floors
in-unit laundry
Building Details
Year built
1940
Building materials
Block, Brick, Concrete, Frame
Roof type
Shingle
Listing Agency:
Keller Williams Preferred Rlty · Keller Williams Realty
Listed By:
Lance Berwald
(952) 746-9696
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 16 at 10:06AM
MLS# 7157503
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.
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Investment Insights
Based on property information with market context.
This side-by-side duplex at 5040 Nicollet Avenue contains two residences, each with hardwood floors and in-unit laundry. The property also includes a detached two-car garage, additional off-street parking, and a porch. It was built in 1940 and sits on a 0.17-acre lot, with 2,346 square feet of property size reported.
The property is in Tangletown, near the 50th and Nicollet intersection. Minnehaha Creek, lakes, parks, schools, shops, restaurants, and transit options are within walking distance.
The property is in Tangletown, near the 50th and Nicollet intersection. Minnehaha Creek, lakes, parks, schools, shops, restaurants, and transit options are within walking distance.
Key Highlights
- Side‑by‑side brick duplex
- 2,346 square feet on a 0.17‑acre lot
- Built in 1940
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.
How Realmo checks its estimates
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 - Both residences feature hardwood flooring and in-unit laundry.
Where is this duplex located?
The property is located at 5040 Nicollet Avenue 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; 2,346 square feet on a 0.17‑acre lot; Built in 1940
