Two-Unit Duplex with
For Sale
$415,000
921 Weeks Ave Se, Minneapolis, MN 55414
Both units are rented and offer two bedrooms plus one bathroom.
Property Size2,288 SF
Price / SF$181.38
Days on Market109
Property Features for 921 Weeks Ave Se
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
University
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,038
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Corey Brenner
(651) 303-0955
Source:
Exprealty
Added: Jul 16
Changed: Oct 31
Last Checked: Nov 1 at 7:10AM
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
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Investment Insights
Based on property information with market context.
Located at 921 Weeks Ave SE in Minneapolis, this up-and-down duplex contains two 1,144-square-foot units, each configured with two bedrooms and one bathroom. Both apartments are currently rented. The property also includes a detached two-car garage, a second driveway, and an unfinished basement.
The home is within walking distance of the University of Minnesota and near coffee shops, restaurants, and parks. The basement may provide an avenue for adding a third unit, subject to city approval and permitting. This property supports both continued rental use and owner occupancy with an additional rented unit.
The home is within walking distance of the University of Minnesota and near coffee shops, restaurants, and parks. The basement may provide an avenue for adding a third unit, subject to city approval and permitting. This property supports both continued rental use and owner occupancy with an additional rented unit.
Key Highlights
- Two 1,144‑square‑foot units, each with 2 bedrooms and 1 bathroom
- Both units are currently rented
- Detached 2‑car garage plus an additional driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,429
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$668,580
$668.6K
Cap Rate 7%
$477,557
$477.6K
Cap Rate 9%
$371,433
$371.4K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$50.8K $22.20/SF
− Vacancy
−$3.0K −$1.33/SF
EGI
$47.8K $20.87/SF
− OpEx
−$14.3K −$6.26/SF
NOI
$33.4K $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%
$668,580
Cap Rate 7%
$477,557
Cap Rate 9%
$371,433
Alternative Uses
Best Use
Multifamily LT 5
$477.6K
$417.9K – $557.2K
NOI $33,429 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$438.6K
$383.8K – $511.7K
NOI $30,704 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$545.9K
$477.6K – $636.9K
NOI $38,211 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
822
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both units are rented and offer two bedrooms plus one bathroom.
Where is this duplex located?
The property is located at 921 Weeks Ave Se Minneapolis, MN.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two 1,144‑square‑foot units, each with 2 bedrooms and 1 bathroom; Both units are currently rented; Detached 2‑car garage plus an additional driveway
