Duplex with In-Unit
For Sale
$449,999
713 2nd St NE, Minneapolis, MN 55413
Two residential units offer private laundry and off-street parking.
Property Size1,774 SF
Price / SF$253.66
Days on Market68
Property Features for 713 2nd St NE
General Information
Standard status
Active
Size
1,774 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
off-street parking
Building Details
Year Built
1900
Listing Agency:
REMAX Results
Listed By:
Peter Trinh · License #40551281
(612) 225-8006
Source:
Searchhousesnow
Added: Aug 10
Changed: Oct 13
Last Checked: Oct 16 at 11:30AM
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 REMAX Results
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Investment Insights
Based on property information with market context.
This duplex contains 1,774 square feet across two residential units, each configured with two bedrooms and one bathroom. Both units include in-unit laundry, while the property also provides off-street parking. Built in 1900, the building offers a straightforward multifamily configuration for an owner or investor seeking a compact residential income property.
The property is located at 713 2nd St NE in Minneapolis, within Northeast Minneapolis. The surrounding area includes restaurants, coffee shops, breweries, parks, and access to downtown Minneapolis. Its two-unit layout, individual laundry, and on-site parking provide practical features for residential occupancy.
The property is located at 713 2nd St NE in Minneapolis, within Northeast Minneapolis. The surrounding area includes restaurants, coffee shops, breweries, parks, and access to downtown Minneapolis. Its two-unit layout, individual laundry, and on-site parking provide practical features for residential occupancy.
Key Highlights
- Two‑unit duplex with 1,774 square feet
- Each unit has 2 bedrooms and 1 bathroom
- In‑unit laundry in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,919
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,380
$518.4K
Cap Rate 7%
$370,271
$370.3K
Cap Rate 9%
$287,989
$288.0K
Market Conditions
NOI Build-Up for 1,774 SF
Gross rent
$39.4K $22.20/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$37.0K $20.87/SF
− OpEx
−$11.1K −$6.26/SF
NOI
$25.9K $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%
$518,380
Cap Rate 7%
$370,271
Cap Rate 9%
$287,989
Alternative Uses
Best Use
Multifamily LT 5
$370.3K
$324.0K – $432.0K
NOI $25,919 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$340.1K
$297.6K – $396.8K
NOI $23,807 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$423.2K
$370.3K – $493.8K
NOI $29,627 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 55413, MN
13,914
Population
8,080
Households
1.7
Avg Household Size
34
Median Age
58%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
4,488
Density / Sq Mi
$84,252
Median Household Income
$57,091
Median Earnings
$1,497
Median Rent
$354,200
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 residential units offer private laundry and off-street parking.
Where is this duplex located?
The property is located at 713 2nd St NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Two‑unit duplex with 1,774 square feet; Each unit has 2 bedrooms and 1 bathroom; In‑unit laundry in both residences
