Building Details

Year Built 1961

Buildings 1

Listing Agency: Coldwell Banker Realty - Southwest Regional

Listed By: Ryan M Platzke, Ryan Quade Show Phone

Source: Agoodlifegroup

Added: Aug 26 Changed: Oct 4 Last Checked: Oct 7 at 2:16PM

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Investment Insights

Based on property information with market context.

This 2,220-square-foot duplex, built in 1961, contains two vacant residences with updated kitchens and bathrooms. Each unit includes three bedrooms, one bathroom, hardwood flooring throughout, and a newer AC unit serving its level. The property is in excellent condition and presents a clear two-unit layout for a rental investor or owner-occupant.

Located at 5936 Washburn Ave S in Minneapolis, the property also includes a basement with the potential to add finished square footage and expand the available living area.

Key Highlights

• 2,220‑square‑foot duplex with two currently vacant units
• Each unit includes 3 bedrooms and 1 bath
• Updated kitchens and bathrooms in both residences

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,436

Cap Rate

6.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$648,720 $648.7K

Cap Rate 7%

$463,371 $463.4K

Cap Rate 9%

$360,400 $360.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,220 SF

Gross rent

$49.3K $22.20/SF

− Vacancy

−$2.9K −$1.33/SF

EGI

$46.3K $20.87/SF

− OpEx

−$13.9K −$6.26/SF

NOI

$32.4K $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%

$648,720

Cap Rate 7%

$463,371

Cap Rate 9%

$360,400

Alternative Uses

Best Use

Multifamily LT 5

$463.4K

$405.5K – $540.6K (±1% cap)

NOI $32,436 @ 7.0% cap · market cap 6.36%

Second Best

Apartment 5plus

$425.6K

$372.4K – $496.5K (±1% cap)

NOI $29,792 @ 7.0% cap · market cap 5.84%

Theoretical Best

Office A

$529.6K

$463.4K – $617.9K (±1% cap)

NOI $37,075 @ 7.0% cap · market cap 7.27%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm HVAC Service Electrical Service Garden Center Storage Facility Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

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 - Two vacant residences offer refreshed interiors, newer air-conditioning systems, and flexibility for an investor or owner-occupant.

Where is this duplex located?

The property is located at 5936 Washburn Ave S Minneapolis, MN.

What is the asking price?

The asking price for this property is $510,000.

What are key features of this property?

This property features: 2,220‑square‑foot duplex with two currently vacant units; Each unit includes 3 bedrooms and 1 bath; Updated kitchens and bathrooms in both residences