Two-Unit Duplex with Detached
New
For Sale
$400,000
5749 Bloomington Avenue, Minneapolis, MN 55417
Each residence has two bedrooms, one bathroom, original hardwood flooring, and an unfinished lower level.
Property Size1,844 SF
Price / SF$216.92
Days on Market6
Property Features for 5749 Bloomington Avenue
General Information
Standard status
Active
Size
1,844 SF
Property subtype
Multi-Family
Building Details
Year Built
1960
Listing Agency:
Edina Realty, Inc
Listed By:
Michael Bartus
(952) 400-7000
Source:
Hometwincities
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 9:35AM
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 Edina Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1960, this one-level duplex contains two separate residences, each arranged with two bedrooms, one bathroom, a main-floor living room and kitchen, and an unfinished lower level. Original hardwood flooring runs through both units. Insulation and windows in each residence were upgraded through the MSP Residential Noise Mitigation Program. A detached two-car garage serves 5749 Bloomington Avenue; the other unit is 5751 Bloomington Avenue.
The property is near MSP, Edward C. Solomon Park, Taft Lake and Park, Lake Nokomis, the 5-8 Club, and Fat Lorenzo’s. The tenant at 5751 has indicated interest in continuing the lease with a new owner. That tenant owns the microwave, washer, and dryer in the unit.
The property is near MSP, Edward C. Solomon Park, Taft Lake and Park, Lake Nokomis, the 5-8 Club, and Fat Lorenzo’s. The tenant at 5751 has indicated interest in continuing the lease with a new owner. That tenant owns the microwave, washer, and dryer in the unit.
Key Highlights
- Two separate residences, each with 2 bedrooms and 1 bathroom
- One‑level duplex built in 1960
- Detached two‑car garage assigned to 5749 Bloomington Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,942
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,840
$538.8K
Cap Rate 7%
$384,886
$384.9K
Cap Rate 9%
$299,356
$299.4K
Market Conditions
NOI Build-Up for 1,844 SF
Gross rent
$40.9K $22.20/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$38.5K $20.87/SF
− OpEx
−$11.5K −$6.26/SF
NOI
$26.9K $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%
$538,840
Cap Rate 7%
$384,886
Cap Rate 9%
$299,356
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.0K
NOI $26,942 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$353.5K
$309.3K – $412.4K
NOI $24,746 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$439.9K
$385.0K – $513.3K
NOI $30,796 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 55417, MN
26,259
Population
11,556
Households
2.3
Avg Household Size
40
Median Age
62%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
5,968
Density / Sq Mi
$122,639
Median Household Income
$71,250
Median Earnings
$1,377
Median Rent
$368,400
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 - Each residence has two bedrooms, one bathroom, original hardwood flooring, and an unfinished lower level.
Where is this duplex located?
The property is located at 5749 Bloomington Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two separate residences, each with 2 bedrooms and 1 bathroom; One‑level duplex built in 1960; Detached two‑car garage assigned to 5749 Bloomington Avenue
