Duplex with Private
For Sale
$375,000
606 20th Ave S, Minneapolis, MN 55454
Both residences offer hardwood flooring and direct access to private outdoor porches.
Property Size2,052 SF
Price / SF$182.75
Days on Market40
Property Features for 606 20th Ave S
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
All that's left are just your personal touches.
Additional Details
Multifamily Units
2
Amenities
private porch
hardwood floors
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty Integrity
(612) 290-5998
Listed By:
Kari M Lundin
Source:
Vibemn
Added: Jul 25
Changed: Aug 27
Last Checked: Aug 30 at 8:48PM
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 Keller Williams Realty Integrity
Investment Insights
Based on property information with market context.
This two-unit property contains 2,052 square feet and dates to 1900. Each residence includes hardwood flooring and a private porch, while recent improvements include a new roof and new siding. The layout supports either owner occupancy with rental income from the second unit or leasing both residences.
The duplex is directly across from Augsburg University and a few blocks from Carlson and the University of Minnesota’s West Bank campus. Fairview is within walking distance, and a community park sits behind the building. Downtown Minneapolis, the Mississippi River, and restaurants are also nearby, with several dining options accessible on foot.
The duplex is directly across from Augsburg University and a few blocks from Carlson and the University of Minnesota’s West Bank campus. Fairview is within walking distance, and a community park sits behind the building. Downtown Minneapolis, the Mississippi River, and restaurants are also nearby, with several dining options accessible on foot.
Key Highlights
- 2,052‑square‑foot duplex built in 1900
- Private porch and hardwood flooring in each unit
- New roof and new exterior siding
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
$29,981
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
7.99%
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%
$599,620
$599.6K
Cap Rate 7%
$428,300
$428.3K
Cap Rate 9%
$333,122
$333.1K
Market Conditions
NOI Build-Up for 2,052 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
$45.6K $22.20/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$42.8K $20.87/SF
− OpEx
−$12.8K −$6.26/SF
NOI
$30.0K $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%
$599,620
Cap Rate 7%
$428,300
Cap Rate 9%
$333,122
Alternative Uses
Best Use
Multifamily LT 5
$428.3K
$374.8K – $499.7K
NOI $29,981 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$393.4K
$344.2K – $459.0K
NOI $27,537 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$489.6K
$428.4K – $571.2K
NOI $34,270 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,483
Businesses Nearby
Explore this area
Business Placement
Demographics for 55454, MN
8,279
Population
3,823
Households
2.2
Avg Household Size
28
Median Age
27%
College-Educated
67%
High-School Grad
0.6 sq mi
ZIP Area
13,798
Density / Sq Mi
$26,429
Median Household Income
$16,150
Median Earnings
$947
Median Rent
$184,700
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 - Both residences offer hardwood flooring and direct access to private outdoor porches.
Where is this duplex located?
The property is located at 606 20th Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,052‑square‑foot duplex built in 1900; Private porch and hardwood flooring in each unit; New roof and new exterior siding
