Renovated Up/Down
For Sale
$700,000
812 7th St SE, Minneapolis, MN 55414
Updated two-level duplex with off-street parking and substantial bedroom capacity near the University of Minnesota’s East Bank campus.
Property Size3,686 SF
Price / SF$189.91
Days on Market8
Property Features for 812 7th St SE
General Information
Standard status
Active
Size
3,686 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 7BR/2BA
Multifamily Units
2
Building Details
Year Built
1900
Year Renovated
2023
Buildings
1
Listing Agency:
eXp Realty
(612) 306-5277
Listed By:
Viet Le
Source:
Chrisfritchteam
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 30 at 8:18PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 812 7th St SE in Minneapolis, this up/down duplex provides 3,686 square feet across two residential units. The main-level apartment contains 4 bedrooms and 2 bathrooms, while the upper apartment offers 7 bedrooms and 2 bathrooms. Both units include common living areas and natural light, with the property renovated in 2023 with new flooring, vinyl, and upgraded windows.
The property is in Minneapolis’s Marcy-Holmes neighborhood, near the University of Minnesota’s East Bank campus, Dinkytown, Northeast Minneapolis, and the Stone Arch Bridge. Restaurants, coffee shops, trails, and the riverfront are within walking distance. Off-street parking is located behind the building, adding practical functionality for residents.
The property is in Minneapolis’s Marcy-Holmes neighborhood, near the University of Minnesota’s East Bank campus, Dinkytown, Northeast Minneapolis, and the Stone Arch Bridge. Restaurants, coffee shops, trails, and the riverfront are within walking distance. Off-street parking is located behind the building, adding practical functionality for residents.
Key Highlights
- 3,686‑square‑foot duplex built in 1900
- Main‑level unit includes 4 bedrooms and 2 bathrooms
- Upper unit includes 7 bedrooms and 2 bathrooms
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
$53,855
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
7.69%
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%
$1,077,100
$1.1M
Cap Rate 7%
$769,357
$769.4K
Cap Rate 9%
$598,389
$598.4K
Market Conditions
NOI Build-Up for 3,686 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
$81.8K $22.20/SF
− Vacancy
−$4.9K −$1.33/SF
EGI
$76.9K $20.87/SF
− OpEx
−$23.1K −$6.26/SF
NOI
$53.9K $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 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%
$1,077,100
Cap Rate 7%
$769,357
Cap Rate 9%
$598,389
Alternative Uses
Best Use
Multifamily LT 5
$769.4K
$673.2K – $897.6K
NOI $53,855 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$706.6K
$618.3K – $824.4K
NOI $49,465 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$879.4K
$769.5K – $1.03M
NOI $61,558 @ 7.0% cap · market cap 8.79%
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
2,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 55414, MN
36,600
Population
15,541
Households
2.4
Avg Household Size
26
Median Age
68%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
11,806
Density / Sq Mi
$47,004
Median Household Income
$18,386
Median Earnings
$1,368
Median Rent
$454,200
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 - Updated two-level duplex with off-street parking and substantial bedroom capacity near the University of Minnesota’s East Bank campus.
Where is this duplex located?
The property is located at 812 7th St SE Minneapolis, MN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,686‑square‑foot duplex built in 1900; Main‑level unit includes 4 bedrooms and 2 bathrooms; Upper unit includes 7 bedrooms and 2 bathrooms
