Building Details

Year Built 1947

Buildings 1

Listing Agency: Side by Side Realty LLC

Listed By: Garrett Gordon Show Phone

Source: C21atwood

Added: Apr 17 Changed: Oct 11 Last Checked: Oct 16 at 8:45AM

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Investment Insights

Based on property information with market context.

Built in 1947, this duplex contains 2,101 square feet across two attached residences. Each main floor has two bedrooms, one bathroom, a kitchen, dining area, and living room. One lower level remains unfinished and includes laundry, mechanicals, and roughed-in plumbing for a second bathroom; its counterpart adds a third bedroom, a three-quarter bathroom, and a laundry room. Both units have an attached one-car garage, forced-air heat, and central air conditioning. Improvements include a newer roof and sewer liner.

The property is near Colita, Book Club, Red Wagon Pizza, Settergren's Hardware, and Saturday Dumpling, all identified as neighborhood destinations.

Key Highlights

• 2,101 square feet; built in 1947
• Two residences, each with an attached one‑car garage
• Both units have forced‑air heating, individual furnaces, and central air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,697

Cap Rate

6.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$613,940 $613.9K

Cap Rate 7%

$438,529 $438.5K

Cap Rate 9%

$341,078 $341.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,101 SF

Gross rent

$46.6K $22.20/SF

− Vacancy

−$2.8K −$1.33/SF

EGI

$43.9K $20.87/SF

− OpEx

−$13.2K −$6.26/SF

NOI

$30.7K $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%

$613,940

Cap Rate 7%

$438,529

Cap Rate 9%

$341,078

Alternative Uses

Best Use

Multifamily LT 5

$438.5K

$383.7K – $511.6K (±1% cap)

NOI $30,697 @ 7.0% cap · market cap 6.20%

Second Best

Apartment 5plus

$402.8K

$352.4K – $469.9K (±1% cap)

NOI $28,195 @ 7.0% cap · market cap 5.70%

Theoretical Best

Office A

$501.3K

$438.6K – $584.8K (±1% cap)

NOI $35,088 @ 7.0% cap · market cap 7.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Dental Office Law Firm Spa & Massage Center Restaurant Hair Salon Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

340

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Individual furnaces and central air conditioning serve both residences.

Where is this duplex located?

The property is located at 5433/5435 Penn Avenue S Minneapolis, MN.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 2,101 square feet; built in 1947; Two residences, each with an attached one‑car garage; Both units have forced‑air heating, individual furnaces, and central air conditioning