Side-by-Side Duplex With
For Sale
$600,000
6024 W 35th Street, Saint Louis Park, MN 55416
Residential Income, Saint Louis Park, MN
Property Size2,830 SF
Lot Size0.24 Acres
Price / SF$212.01
Days on Market35
Property Features for 6024 W 35th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 7, Bedroom 5, Bathroom 3, Basement, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 4, Laundry Room, Bedroom 1
Parking features
Garage - Attached
Fencing
Chain Link
Subdivision
St Louis Park
Lot features
Tree Coverage - Medium
High school district
St. Louis Park
Directions
Take the MN-7 W exit from MN-100 S Continue on MN-7 W. Drive to W 35th St
Standard status
Active
APN
1611721320084
Size
2,830 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8161
Utilities
Heating system
Forced Air
Amenities
fenced-in yard
Building Details
Year built
1951
Building materials
Block
Roof type
Shingle
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Adam Tafel
(612) 600-6000
Added: Aug 25
Changed: Sep 24
Last Checked: Sep 28 at 4:06AM
MLS# 7132255
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1951, this side-by-side duplex contains 2,830 square feet across two residential units. The layouts include one 3-bedroom, 2-bath unit and one 4-bedroom, 2-bath unit, providing substantially sized living arrangements on both sides. Each unit has a separate driveway and attached garage, while one unit is currently vacant. The property also includes a fenced yard on a 0.24-acre lot.
Located in Saint Louis Park, the property has block construction, forced-air heating, and a shingle roof. Capital improvements have been completed during the past 10 years. The separate entrances, parking arrangements, and unit configurations support both conventional rental use and owner occupancy of one side, as reflected by the current vacancy.
Located in Saint Louis Park, the property has block construction, forced-air heating, and a shingle roof. Capital improvements have been completed during the past 10 years. The separate entrances, parking arrangements, and unit configurations support both conventional rental use and owner occupancy of one side, as reflected by the current vacancy.
Key Highlights
- 2,830‑square‑foot side‑by‑side duplex built in 1951
- Unit mix includes 3 bedrooms and 2 baths on one side, plus 4 bedrooms and 2 baths on the other
- Separate driveways and attached garages serve each unit
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
$36,674
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
6.11%
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%
$733,480
$733.5K
Cap Rate 7%
$523,914
$523.9K
Cap Rate 9%
$407,489
$407.5K
Market Conditions
NOI Build-Up for 2,830 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
$56.0K $19.80/SF
− Vacancy
−$3.6K −$1.29/SF
EGI
$52.4K $18.51/SF
− OpEx
−$15.7K −$5.55/SF
NOI
$36.7K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /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%
$733,480
Cap Rate 7%
$523,914
Cap Rate 9%
$407,489
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.2K
NOI $36,674 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$472.5K
$413.5K – $551.3K
NOI $33,078 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$675.2K
$590.8K – $787.7K
NOI $47,263 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,817
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two residential units offer separate driveways, attached garages, and distinct living spaces.
Where is this duplex located?
The property is located at 6024 W 35th Street Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,830‑square‑foot side‑by‑side duplex built in 1951; Unit mix includes 3 bedrooms and 2 baths on one side, plus 4 bedrooms and 2 baths on the other; Separate driveways and attached garages serve each unit
