Occupied Duplex Near
For Sale
$409,900
808 9th Ave Se, Minneapolis, MN 55413
Two leased units provide an established residential income setup near transit, dining, shopping, and the University of Minnesota.
Property Size2,079 SF
Price / SF$197.16
Days on Market60
Property Features for 808 9th Ave Se
General Information
Standard status
Active
Size
2,079 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$39,900
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,592
Listing Agency:
Coldwell Banker Realty - Southwest Regional
(952) 844-6000
Listed By:
Al Theisen
(612) 616-0198
Source:
Exprealty
Added: Aug 7
Changed: Oct 4
Last Checked: Oct 4 at 1:31PM
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
Investment Insights
Based on property information with market context.
This Minneapolis duplex contains two residential units totaling 2,079 square feet, with both units currently leased. The fully occupied configuration provides an established rental operation for an owner seeking a two-unit residential income property.
The property is located at 808 9th Ave SE near the University of Minnesota, public transportation, restaurants, and shopping. Its proximity to these destinations adds convenient access for residents while placing the building within an active university-area setting.
The property is located at 808 9th Ave SE near the University of Minnesota, public transportation, restaurants, and shopping. Its proximity to these destinations adds convenient access for residents while placing the building within an active university-area setting.
Key Highlights
- Two‑unit duplex totaling 2,079 square feet
- Both units are currently leased
- Fully occupied residential income property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,376
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,520
$607.5K
Cap Rate 7%
$433,943
$433.9K
Cap Rate 9%
$337,511
$337.5K
Market Conditions
NOI Build-Up for 2,079 SF
Gross rent
$46.2K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$43.4K $20.87/SF
− OpEx
−$13.0K −$6.26/SF
NOI
$30.4K $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%
$607,520
Cap Rate 7%
$433,943
Cap Rate 9%
$337,511
Alternative Uses
Best Use
Multifamily LT 5
$433.9K
$379.7K – $506.3K
NOI $30,376 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$398.6K
$348.8K – $465.0K
NOI $27,900 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$496.0K
$434.0K – $578.7K
NOI $34,720 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,289
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
Check the figures for this property
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 leased units provide an established residential income setup near transit, dining, shopping, and the University of Minnesota.
Where is this duplex located?
The property is located at 808 9th Ave Se Minneapolis, MN.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,079 square feet; Both units are currently leased; Fully occupied residential income property
