Side-by-Side Duplex with
For Sale
$450,000
508 Shadyside Cir, Hopkins, MN 55343
Two residential units feature three-bedroom layouts, two bathrooms, and unfinished basement space for additional flexibility.
Property Size2,548 SF
Price / SF$176.61
Days on Market207
Property Features for 508 Shadyside Cir
General Information
Standard status
Active
Size
2,548 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,685
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Advantage Plus
(612) 208-3859
Listed By:
Brian Leneweaver
(612) 208-3859
Source:
Exprealty
Added: Jan 15
Changed: Aug 3
Last Checked: Aug 9 at 11:40AM
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 RE/MAX Advantage Plus
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units, each offering more than 1,200 square feet with three bedrooms and two bathrooms. Both units also include unfinished basement areas that provide additional storage or future customization potential. The property totals 2,548 square feet.
The duplex is located at 508 Shadyside Cir in Hopkins, Minnesota, near schools, parks, and everyday conveniences. Its configuration supports separate occupancy of the units, subject to applicable requirements and lease terms.
The duplex is located at 508 Shadyside Cir in Hopkins, Minnesota, near schools, parks, and everyday conveniences. Its configuration supports separate occupancy of the units, subject to applicable requirements and lease terms.
Key Highlights
- Side‑by‑side duplex with two separate residential units
- 2,548 SF total property size
- Each unit offers over 1,200 sq ft
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
$33,020
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
7.34%
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%
$660,400
$660.4K
Cap Rate 7%
$471,714
$471.7K
Cap Rate 9%
$366,889
$366.9K
Market Conditions
NOI Build-Up for 2,548 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
$50.5K $19.80/SF
− Vacancy
−$3.3K −$1.29/SF
EGI
$47.2K $18.51/SF
− OpEx
−$14.2K −$5.55/SF
NOI
$33.0K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /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%
$660,400
Cap Rate 7%
$471,714
Cap Rate 9%
$366,889
Alternative Uses
Best Use
Multifamily LT 5
$471.7K
$412.8K – $550.3K
NOI $33,020 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$425.5K
$372.3K – $496.4K
NOI $29,782 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$607.9K
$531.9K – $709.2K
NOI $42,553 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Explore this area
Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature three-bedroom layouts, two bathrooms, and unfinished basement space for additional flexibility.
Where is this duplex located?
The property is located at 508 Shadyside Cir Hopkins, MN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two separate residential units; 2,548 SF total property size; Each unit offers over 1,200 sq ft
