Updated
New
For Sale
$574,900
5570 & 5580 Shorewood Lane, Excelsior, MN 55331
Residential Income, Excelsior, MN
Property Size2,230 SF
Lot Size0.46 Acres
Price / SF$257.80
Days on Market7
Property Features for 5570 & 5580 Shorewood Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Basement, Bedroom 1, Laundry Room, Bathroom 2, Bedroom 4
Parking features
Garage - Attached, Driveway
Patio and Porch features
Patio
Lot features
Irregular Lot, Tree Coverage - Heavy
High school district
Minnetonka
Directions
Co. Rd. 9 to Shorewood Lane to duplex on left.
Standard status
Active
APN
3311723110091
Size
2,230 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7026
Utilities
Heating system
Forced Air
Water source
Well
Building Details
Year built
1968
Roof type
Shingle
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka · Keller Williams Realty
(952) 475-0111
Listed By:
The Holmers Group
(612) 998-4010
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 14 at 6:06PM
MLS# 7157563
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.
Investment Insights
Based on property information with market context.
This 1968 duplex contains 2,230 square feet across two residences on a 0.46-acre lot. Both units have received 2026 interior work, including replacement floor finishes, fresh paint, updated switches and new appliances. Garage and utility-room floors were also painted. The property has forced-air heat, well water, a shingle roof, an attached garage, driveway parking and a patio. Furnaces were installed within the past five years.
Exterior work in 2010 included columns, shutters, paint and landscaping. The property is near the Lake Minnetonka Regional Trail, with access toward downtown Excelsior. Restaurants and shops are located in downtown Excelsior, and additional dining options are noted in nearby Tonka Bay.
Exterior work in 2010 included columns, shutters, paint and landscaping. The property is near the Lake Minnetonka Regional Trail, with access toward downtown Excelsior. Restaurants and shops are located in downtown Excelsior, and additional dining options are noted in nearby Tonka Bay.
Key Highlights
- Duplex with 2,230 square feet on 0.46 acres
- Two residences updated with interior finishes and appliances in 2026
- Six bedrooms listed across the property’s room details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,899
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,980
$578.0K
Cap Rate 7%
$412,843
$412.8K
Cap Rate 9%
$321,100
$321.1K
Market Conditions
NOI Build-Up for 2,230 SF
Gross rent
$44.2K $19.80/SF
− Vacancy
−$2.9K −$1.29/SF
EGI
$41.3K $18.51/SF
− OpEx
−$12.4K −$5.55/SF
NOI
$28.9K $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 Rate 5%
$577,980
Cap Rate 7%
$412,843
Cap Rate 9%
$321,100
Alternative Uses
Best Use
Multifamily LT 5
$412.8K
$361.2K – $481.7K
NOI $28,899 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$372.4K
$325.8K – $434.4K
NOI $26,065 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$532.0K
$465.5K – $620.7K
NOI $37,242 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 55331, MN
19,568
Population
8,275
Households
2.4
Avg Household Size
46
Median Age
71%
College-Educated
99%
High-School Grad
16.3 sq mi
ZIP Area
1,200
Density / Sq Mi
$160,029
Median Household Income
$75,771
Median Earnings
$1,208
Median Rent
$707,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences received interior finish and appliance updates, with newer furnaces in place.
Where is this duplex located?
The property is located at 5570 & 5580 Shorewood Lane Excelsior, MN.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Duplex with 2,230 square feet on 0.46 acres; Two residences updated with interior finishes and appliances in 2026; Six bedrooms listed across the property’s room details
