Duplex with Park-Adjacent
For Sale
$350,000
Pending
826 20th Ave Ne, Minneapolis, MN 55418
Updated two-unit property with separate entrances, off-street parking, and a yard bordering a park.
Property Size1,500 SF
Days on Market71
Property Features for 826 20th Ave Ne
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,939
Listing Agency:
Coldwell Banker Realty
(612) 701-3124
Listed By:
Drew Hueler
(612) 701-3124
Source:
Exprealty
Added: Jun 12
Changed: Aug 21
Last Checked: Aug 21 at 9:58AM
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
Investment Insights
Based on property information with market context.
Located at 826 20th Ave NE in Minneapolis, this 1,500-square-foot up-and-down duplex includes two residential units, each with 2 bedrooms and 1 full bath. Separate entrances serve the units, while updated kitchens, baths, appliances, flooring, trim, and painted interior stairs provide refreshed interiors. HVAC, the roof, and windows have also been updated.
The property sits at the end of a quiet cul-de-sac with a spacious yard bordering a park. A shared driveway provides off-street parking and access to the backyard. The surrounding Northeast Minneapolis Arts District includes restaurants, breweries, galleries, and local shops within steps of the property.
The property sits at the end of a quiet cul-de-sac with a spacious yard bordering a park. A shared driveway provides off-street parking and access to the backyard. The surrounding Northeast Minneapolis Arts District includes restaurants, breweries, galleries, and local shops within steps of the property.
Key Highlights
- Two‑unit duplex with 1,500 square feet of building area
- Each unit includes 2 bedrooms and 1 full bath
- Separate entrances provide independent access to both units
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
$21,916
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
6.26%
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%
$438,320
$438.3K
Cap Rate 7%
$313,086
$313.1K
Cap Rate 9%
$243,511
$243.5K
Market Conditions
NOI Build-Up for 1,500 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
$33.3K $22.20/SF
− Vacancy
−$2.0K −$1.33/SF
EGI
$31.3K $20.87/SF
− OpEx
−$9.4K −$6.26/SF
NOI
$21.9K $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%
$438,320
Cap Rate 7%
$313,086
Cap Rate 9%
$243,511
Alternative Uses
Best Use
Multifamily LT 5
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$287.6K
$251.6K – $335.5K
NOI $20,130 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$357.9K
$313.1K – $417.5K
NOI $25,051 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
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-unit property with separate entrances, off-street parking, and a yard bordering a park.
Where is this duplex located?
The property is located at 826 20th Ave Ne Minneapolis, MN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,500 square feet of building area; Each unit includes 2 bedrooms and 1 full bath; Separate entrances provide independent access to both units
