Side-by-Side Duplex Near Lake
5636 Cedar Ave S, Minneapolis, MN 55404
For Sale
$549,000
Two residences offer separate utilities, central air, private laundry rooms, and a detached three-car garage.
Property Size2,815 SF
Price / SF$195.03
Days on Market56
Property Features for 5636 Cedar Ave S
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
central air
private lower-level laundry room
Building Details
Buildings
Construction
Listing Agency:
Coldwell Banker Realty - Lakes
(612) 920-5605
Listed By:
Christopher J Carrow
(612) 802-5592
Source:
Exprealty
Added: Sep 15
Changed: Oct 26
Last Checked: Nov 8 at 6:57AM
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 Coldwell Banker Realty - Lakes
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Investment Insights
Based on property information with market context.
This side-by-side duplex at 5636 Cedar Ave S includes two separate residences, each with two bathrooms, central air, and a private lower-level laundry room. The 5636 unit has two main-floor bedrooms plus a lower-level bedroom, while the 5638 unit offers three second-floor bedrooms. Kitchens were updated in 2016 and 2023, respectively. Oak hardwood floors remain beneath newer living room carpeting.
The property is located a half-block from Lake Nokomis in Minneapolis. A detached three-car garage with automatic openers is supplemented by one additional off-street parking space. Separate tenant-paid heat and electricity support divided utility service. The exterior features stucco construction, gutter protection, mature pines, young quaking aspen trees, and accent boulders.
The property is located a half-block from Lake Nokomis in Minneapolis. A detached three-car garage with automatic openers is supplemented by one additional off-street parking space. Separate tenant-paid heat and electricity support divided utility service. The exterior features stucco construction, gutter protection, mature pines, young quaking aspen trees, and accent boulders.
Key Highlights
- Side‑by‑side duplex at 5636 Cedar Ave S, a half‑block from Lake Nokomis
- 5636 unit includes 2 main‑floor bedrooms plus a lower‑level bedroom
- 5638 unit features 3 second‑floor bedrooms and a kitchen updated in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,129
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$822,580
$822.6K
Cap Rate 7%
$587,557
$587.6K
Cap Rate 9%
$456,989
$457.0K
Market Conditions
NOI Build-Up for 2,815 SF
Gross rent
$62.5K $22.20/SF
− Vacancy
−$3.7K −$1.33/SF
EGI
$58.8K $20.87/SF
− OpEx
−$17.6K −$6.26/SF
NOI
$41.1K $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%
$822,580
Cap Rate 7%
$587,557
Cap Rate 9%
$456,989
Alternative Uses
Best Use
Multifamily LT 5
$587.6K
$514.1K – $685.5K
NOI $41,129 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$539.7K
$472.2K – $629.6K
NOI $37,776 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$671.6K
$587.7K – $783.5K
NOI $47,012 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
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Business Placement
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate utilities, central air, private laundry rooms, and a detached three-car garage.
Where is this duplex located?
The property is located at 5636 Cedar Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Side‑by‑side duplex at 5636 Cedar Ave S, a half‑block from Lake Nokomis; 5636 unit includes 2 main‑floor bedrooms plus a lower‑level bedroom; 5638 unit features 3 second‑floor bedrooms and a kitchen updated in 2023
