Duplex with Detached
For Sale
$365,000
918 18 1/2 Ave NE, Minneapolis, MN 55418
Two-bedroom units with separate entrances, shared laundry, and individually metered gas and electric service.
Property Size1,815 SF
Price / SF$201.10
Days on Market35
Property Features for 918 18 1/2 Ave NE
General Information
Standard status
Active
Size
1,815 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
shared basement laundry
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Results
Listed By:
Lars Anderson
(651) 497-1666
Source:
Tayloronken
Added: Jul 30
Changed: Aug 28
Last Checked: Sep 1 at 10:09PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 1,815-square-foot up-and-down duplex, built in 1900, contains two 2-bedroom, 1-bathroom residences. Each unit has its own entrance along with a full kitchen, living room, two bedrooms, and a full bathroom. Gas and electric are separately metered for each unit, while the basement provides shared laundry space.
The property includes a detached 2-stall garage and additional off-street parking. It is located in Logan Park in Northeast Minneapolis, near Indeed Brewing, Dangerous Man, neighborhood businesses, the Mississippi riverfront, and area parks and trails. The existing two-unit layout supports separate residential occupancy within a single property.
The property includes a detached 2-stall garage and additional off-street parking. It is located in Logan Park in Northeast Minneapolis, near Indeed Brewing, Dangerous Man, neighborhood businesses, the Mississippi riverfront, and area parks and trails. The existing two-unit layout supports separate residential occupancy within a single property.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units with separate entrances
- 1,815 square feet; built in 1900
- Separate gas and electric meters for 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
$26,518
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
7.27%
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%
$530,360
$530.4K
Cap Rate 7%
$378,829
$378.8K
Cap Rate 9%
$294,644
$294.6K
Market Conditions
NOI Build-Up for 1,815 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
$40.3K $22.20/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$37.9K $20.87/SF
− OpEx
−$11.4K −$6.26/SF
NOI
$26.5K $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%
$530,360
Cap Rate 7%
$378,829
Cap Rate 9%
$294,644
Alternative Uses
Best Use
Multifamily LT 5
$378.8K
$331.5K – $442.0K
NOI $26,518 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,357 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$433.0K
$378.9K – $505.2K
NOI $30,311 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,699
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units with separate entrances, shared laundry, and individually metered gas and electric service.
Where is this duplex located?
The property is located at 918 18 1/2 Ave NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units with separate entrances; 1,815 square feet; built in 1900; Separate gas and electric meters for both units
