5727 Goodrich Avenue, Saint Louis Park, MN 55416

Building Details

Year Built 1905 More

Buildings 1 More

Stories 2 More

Listing Agency: Avenue Realty s***@avenuerealtymn.com Show Phone

Listed By: Georgie Christian Show Phone

Source: Obviousrealestate

Added: Sep 17 Changed: Nov 9 Last Checked: Nov 8 at 2:21PM

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Investment Insights

Based on property information with market context.

This 2,810-square-foot duplex, built in 1905, contains two three-bedroom, one-bathroom residences. Each unit has its own laundry. The main-level home was renovated in 2020 and features an open kitchen and living area, a three-season porch, and deck access. Two of the garage’s three stalls are allocated to this unit. The upper residence has new carpet in its living area and hallway, along with a large dining room.

Set on a corner lot in Saint Louis Park, the property also has landscaped areas and garden spaces. Walking trails, parks, shopping, dining, and entertainment are among the area amenities identified for the location.

Key Highlights

• Two residences, each with three bedrooms and one bathroom
• 2,810 square feet; built in 1905
• Main‑level residence renovated in 2020

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,056

Cap Rate

7.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$821,120 $821.1K

Cap Rate 7%

$586,514 $586.5K

Cap Rate 9%

$456,178 $456.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,810 SF

Gross rent

$62.4K $22.20/SF

− Vacancy

−$3.7K −$1.33/SF

EGI

$58.7K $20.87/SF

− OpEx

−$17.6K −$6.26/SF

NOI

$41.1K $14.61/SF

Area

Hennepin County, 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%

$821,120

Cap Rate 7%

$586,514

Cap Rate 9%

$456,178

Alternative Uses

Best Use

Multifamily LT 5

$586.5K

$513.2K – $684.3K (±1% cap)

NOI $41,056 @ 7.0% cap · market cap 7.20%

Second Best

Apartment 5plus

$469.2K

$410.6K – $547.4K (±1% cap)

NOI $32,844 @ 7.0% cap · market cap 5.76%

Theoretical Best

Office A

$670.4K

$586.6K – $782.2K (±1% cap)

NOI $46,929 @ 7.0% cap · market cap 8.23%

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

Property Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

843

Businesses Nearby

Explore this area Business Placement

Demographics for 55416, MN

34,129

Population

19,197

Households

1.8

Avg Household Size

36

Median Age

73%

College-Educated

98%

High-School Grad

7.3 sq mi

ZIP Area

4,675

Density / Sq Mi

$105,926

Median Household Income

$70,993

Median Earnings

$1,701

Median Rent

$457,300

Median Home Value

Market

Average Price Trend$/SF for Duplexes in Hennepin County, MN

$188 Jul

$184 Aug

$181 Sep

$179 Oct

Properties on Market for Duplexes in Hennepin County

Jul

Aug

Sep

Oct

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 - Each residence has three bedrooms, one bathroom, and its own laundry; the property includes a three-stall garage.

Where is this duplex located?

The property is located at 5727 Goodrich Avenue Saint Louis Park, MN.

What is the asking price?

The asking price for this property is $569,900.

What are key features of this property?

This property features: Two residences, each with three bedrooms and one bathroom; 2,810 square feet; built in 1905; Main‑level residence renovated in 2020