Side-by-Side Duplex with Remodeled
New
For Sale
$499,000
9522 Pleasant Avenue S, Bloomington, MN 55420
Two-bedroom units offer basement areas and substantial backyard space in Bloomington.
Property Size1,550 SF
Price / SF$321.94
Days on Market6
Property Features for 9522 Pleasant Avenue S
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1967
Buildings
1
Listing Agency:
Lakes Sotheby's International Realty
(952) 992-9279
Listed By:
The BPR Experience
(952) 992-9279
Source:
Thebprexperience
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 8:51AM
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 Lakes Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1967, this side-by-side duplex contains 1,550 square feet with two residential units. Each unit includes two bedrooms, one bathroom, and a basement area, while both units have received recent updates. The right-hand unit at 9522 Pleasant Avenue S has undergone a complete remodel and is ready for occupancy or leasing.
The left unit is occupied by a tenant who has lived there for two years and is expected to remain through 2027. Both sides benefit from large backyard areas, adding usable outdoor space to the property. The duplex is located in Bloomington, Minnesota, at 9522 Pleasant Avenue S.
The left unit is occupied by a tenant who has lived there for two years and is expected to remain through 2027. Both sides benefit from large backyard areas, adding usable outdoor space to the property. The duplex is located in Bloomington, Minnesota, at 9522 Pleasant Avenue S.
Key Highlights
- Side‑by‑side duplex with 1,550 square feet
- Two units, each with 2 bedrooms and 1 bathroom
- Both units include basement areas
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
$20,087
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
4.03%
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%
$401,740
$401.7K
Cap Rate 7%
$286,957
$287.0K
Cap Rate 9%
$223,189
$223.2K
Market Conditions
NOI Build-Up for 1,550 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
$30.7K $19.80/SF
− Vacancy
−$2.0K −$1.29/SF
EGI
$28.7K $18.51/SF
− OpEx
−$8.6K −$5.55/SF
NOI
$20.1K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /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%
$401,740
Cap Rate 7%
$286,957
Cap Rate 9%
$223,189
Alternative Uses
Best Use
Multifamily LT 5
$287.0K
$251.1K – $334.8K
NOI $20,087 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$258.8K
$226.5K – $302.0K
NOI $18,117 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$369.8K
$323.6K – $431.4K
NOI $25,886 @ 7.0% cap · market cap 5.19%
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
951
Businesses Nearby
Explore this area
Business Placement
Demographics for 55420, MN
23,128
Population
9,638
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
3,452
Density / Sq Mi
$77,539
Median Household Income
$42,441
Median Earnings
$1,277
Median Rent
$306,600
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 - Two-bedroom units offer basement areas and substantial backyard space in Bloomington.
Where is this duplex located?
The property is located at 9522 Pleasant Avenue S Bloomington, MN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 1,550 square feet; Two units, each with 2 bedrooms and 1 bathroom; Both units include basement areas
