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 Market13
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
(612) 616-0198
Listed By:
Al Theisen
(612) 616-0198
Source:
Exprealty
Added: Aug 7
Changed: Aug 18
Last Checked: Aug 19 at 1:29PM
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 = 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
$30,376
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
7.41%
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%
$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
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
$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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
