Updated Side-by-Side
For Sale
$465,000
5820 Nicollet Ave, Minneapolis, MN 55419
Two matching units offer updated interiors, private mechanical systems, fenced outdoor space, and unfinished basement storage.
Property Size1,998 SF
Price / SF$232.73
Days on Market88
Property Features for 5820 Nicollet Ave
General Information
Standard status
Active
Size
1,998 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,267
Amenities
fenced backyard
central air conditioning
laundry
Building Details
Buildings
1
Listing Agency:
Side by Side Realty LLC
(970) 571-3904
Listed By:
Garrett Gordon
(970) 571-3904
Source:
Exprealty
Added: May 14
Changed: Aug 5
Last Checked: Aug 8 at 9:10AM
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 1,998 SF with two matching units arranged across two levels. Each residence has an eat-in kitchen with granite countertops, hardwood flooring, and an open connection to the living area. Two bedrooms and a full bathroom are located upstairs, while the unfinished basement provides laundry, utilities, and storage. Central air conditioning and an individual furnace serve each side. Improvements include renovated kitchens and bathrooms, new siding, a newer roof, gutters, and a sewer liner.
The property includes a fenced backyard and is located at 5820 Nicollet Ave in Minneapolis. Restaurants, shopping, public transportation, Cub Foods, Tailgate, Patty Wagon, Sabores De Mexico, Orale Mexican Grill, and Diamond Lake Hardware are nearby. One unit was vacant as of 06/30, creating an owner-occupant option while retaining the second unit's duplex configuration.
The property includes a fenced backyard and is located at 5820 Nicollet Ave in Minneapolis. Restaurants, shopping, public transportation, Cub Foods, Tailgate, Patty Wagon, Sabores De Mexico, Orale Mexican Grill, and Diamond Lake Hardware are nearby. One unit was vacant as of 06/30, creating an owner-occupant option while retaining the second unit's duplex configuration.
Key Highlights
- Side‑by‑side duplex with 1,998 SF and matching unit layouts
- Each unit includes 2 bedrooms, 1 full bath, and an unfinished basement
- Granite kitchen counters and hardwood flooring in both units
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
$29,192
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
6.28%
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%
$583,840
$583.8K
Cap Rate 7%
$417,029
$417.0K
Cap Rate 9%
$324,356
$324.4K
Market Conditions
NOI Build-Up for 1,998 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
$44.4K $22.20/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$41.7K $20.87/SF
− OpEx
−$12.5K −$6.26/SF
NOI
$29.2K $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%
$583,840
Cap Rate 7%
$417,029
Cap Rate 9%
$324,356
Alternative Uses
Best Use
Multifamily LT 5
$417.0K
$364.9K – $486.5K
NOI $29,192 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$383.0K
$335.2K – $446.9K
NOI $26,813 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$476.7K
$417.1K – $556.1K
NOI $33,368 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
586
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 matching units offer updated interiors, private mechanical systems, fenced outdoor space, and unfinished basement storage.
Where is this duplex located?
The property is located at 5820 Nicollet Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 1,998 SF and matching unit layouts; Each unit includes 2 bedrooms, 1 full bath, and an unfinished basement; Granite kitchen counters and hardwood flooring in both units
