Side-by-Side Duplex with
For Sale
$515,000
5433 /5435 Penn Ave S, Minneapolis, MN 55419
Two residential units offer distinct lower-level layouts, attached garages, laundry areas, and individual heating and cooling systems.
Property Size2,101 SF
Price / SF$245.12
Days on Market44
Property Features for 5433 /5435 Penn Ave S
General Information
Standard status
Active
Size
2,101 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1947
Listing Agency:
Side by Side Realty LLC
Listed By:
Garrett Gordon
(970) 571-3904
Source:
Searchhousesnow
Added: Jul 21
Changed: Aug 28
Last Checked: Sep 1 at 9:58PM
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 Side by Side Realty LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,101 square feet and was built in 1947. Both main levels include 2 bedrooms, 1 bathroom, a kitchen, dining area, and living room. Unit 5433 has an unfinished basement with mechanical systems, laundry, a 1-car attached garage, and roughed-in plumbing for a second bathroom. Unit 5435 has a finished lower level with a third bedroom, 3/4 bathroom, laundry room, and 1-car attached garage.
Each unit is equipped with forced-air heating through an individual furnace and central air conditioning. The property also features a newer sewer liner and newer roof. Located at 5433 /5435 Penn Ave S in Minneapolis, the duplex is near Colita, Book Club, Red Wagon Pizza, Settergren’s Hardware, and Saturday Dumpling.
Each unit is equipped with forced-air heating through an individual furnace and central air conditioning. The property also features a newer sewer liner and newer roof. Located at 5433 /5435 Penn Ave S in Minneapolis, the duplex is near Colita, Book Club, Red Wagon Pizza, Settergren’s Hardware, and Saturday Dumpling.
Key Highlights
- Side‑by‑side duplex with 2,101 square feet, built in 1947
- Each main level includes 2 bedrooms, 1 bathroom, kitchen, dining area, and living room
- Unit 5435 has a finished lower level with a third bedroom and 3/4 bathroom
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
$30,697
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
5.96%
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%
$613,940
$613.9K
Cap Rate 7%
$438,529
$438.5K
Cap Rate 9%
$341,078
$341.1K
Market Conditions
NOI Build-Up for 2,101 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
$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 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%
$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
NOI $30,697 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$402.8K
$352.4K – $469.9K
NOI $28,195 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$501.3K
$438.6K – $584.8K
NOI $35,088 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct lower-level layouts, attached garages, laundry areas, and individual heating and cooling systems.
Where is this duplex located?
The property is located at 5433 /5435 Penn Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,101 square feet, built in 1947; Each main level includes 2 bedrooms, 1 bathroom, kitchen, dining area, and living room; Unit 5435 has a finished lower level with a third bedroom and 3/4 bathroom
