Updated Duplex with Two Three-Bedroom
For Sale
$480,000
5844 Washburn Ave S, Minneapolis, MN 55410
Two-unit property with refreshed interiors, central air, and separate living spaces suited to rental or owner-occupant use.
Property Size2,142 SF
Price / SF$224.09
Days on Market101
Property Features for 5844 Washburn Ave S
General Information
Standard status
Active
Size
2,142 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Coldwell Banker Realty - Southwest Regional
Listed By:
Jay Hancock
(612) 916-0245
Source:
Putyourrootsdown
Added: Jul 11
Changed: Oct 11
Last Checked: Oct 7 at 3:00PM
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 - Southwest Regional
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Investment Insights
Based on property information with market context.
This 2,142-square-foot duplex, built in 1961, contains two three-bedroom, one-bathroom units. Each residence includes a living room and eat-in kitchen, with the upper apartment vacant and ready for occupancy or leasing. The lower apartment is leased month-to-month, subject to 60 days’ notice.
Property improvements include a roof installed in 2021, newer furnaces, upgraded electrical panels, and central A/C serving both units. Additional work includes refinished hardwood flooring, new carpet, updated windows, fresh paint in the common areas and upper unit, and refinished cast iron tubs. The property is located at 5844 Washburn Ave S in Minneapolis, MN 55410.
Property improvements include a roof installed in 2021, newer furnaces, upgraded electrical panels, and central A/C serving both units. Additional work includes refinished hardwood flooring, new carpet, updated windows, fresh paint in the common areas and upper unit, and refinished cast iron tubs. The property is located at 5844 Washburn Ave S in Minneapolis, MN 55410.
Key Highlights
- 2,142 SF duplex with two 3‑bedroom, 1‑bathroom units
- Upper unit is vacant; lower unit is rented month‑to‑month with 60‑day notice required
- New roof installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,296
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,920
$625.9K
Cap Rate 7%
$447,086
$447.1K
Cap Rate 9%
$347,733
$347.7K
Market Conditions
NOI Build-Up for 2,142 SF
Gross rent
$47.6K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$44.7K $20.87/SF
− OpEx
−$13.4K −$6.26/SF
NOI
$31.3K $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%
$625,920
Cap Rate 7%
$447,086
Cap Rate 9%
$347,733
Alternative Uses
Best Use
Multifamily LT 5
$447.1K
$391.2K – $521.6K
NOI $31,296 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$410.6K
$359.3K – $479.1K
NOI $28,745 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$511.0K
$447.2K – $596.2K
NOI $35,773 @ 7.0% cap · market cap 7.45%
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
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 55410, MN
21,352
Population
8,685
Households
2.5
Avg Household Size
40
Median Age
78%
College-Educated
99%
High-School Grad
3.1 sq mi
ZIP Area
6,888
Density / Sq Mi
$144,973
Median Household Income
$77,518
Median Earnings
$1,622
Median Rent
$597,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors, central air, and separate living spaces suited to rental or owner-occupant use.
Where is this duplex located?
The property is located at 5844 Washburn Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,142 SF duplex with two 3‑bedroom, 1‑bathroom units; Upper unit is vacant; lower unit is rented month‑to‑month with 60‑day notice required; New roof installed in 2021
