For Sale: Minneapolis MLS# 7094390
Active
NEW!
$360,000
Multi-family: Duplex Up and Down
2 br • 2 ba • Built 1900
1,531 sqft • 0.051 acres
Minneapolis schools
MLS# 7094390
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Property Description
Rare opportunity to own a cash-flowing Northeast duplex with reduced taxes (only $1, 111.50!) and built-in rent growth. Ideal for both owner-occupants and investors, with a flexible layout featuring a 1-bedroom upper unit with a non-conforming 2nd bedroom in the attic and 1-bedroom main-level unit.
Current rents provide solid cash flow with built-in annual increases, while the City of Minneapolis 4D program delivers meaningful tax savings for the next two years. Owner-occupants can offset their mortgage by renting one unit, while investors benefit from stable, predictable income in a high-demand Northeast location. Opportunity to increase value over time as 4D program restrictions expire.
Property includes a 1-car garage and is well positioned steps from the best of Northeast. Walking distance to coffee shops (Dogwood Coffee, Spyhouse Coffee Roasters), breweries (Bauhaus Brew Labs, Earl Giles, Indeed Brewing Company, Sociable Cider Works), restaurants (Centro, Chimborazo, Sample Room, Stanley's Northeast Bar Room), and more. Walk to Logan Park and Beltrami Park, with easy access to Boom Island’s riverfront trails.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$360,000
Price per sq ft:
$235
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
1
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55413
Neighborhood/Area:
71
Subdivision Name:
Sibley Add To St Anth
Interior
Bedrooms:
2
Bathrooms:
2
Finished Area:
1,531 ft2
Living Area:
1,531 ft2
Refrigerators:
Two
Basement Details:
Unfinished
Exterior
Stories:
Two
Garage Spaces:
1
Garage Size:
240 ft2
Foundation Size:
684 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Attached Garage
Road Frontage:
City Street
Pool:
None
Roof Details:
- Age 8 Years or Less
- Asphalt
Rooms
Laundry:
- In Basement
- Laundry Room
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.051
Geolocation:
44.995332, -93.254265
Lot Dimensions:
28 x 80
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,023
Annual Maintenance Expense:
$2,500
Annual Trash Expense:
$1,019
Annual Water/Sewer Expense:
$1,019
Tenant Expenses:
Broadband, Cable TV, Electricity, Grounds Care, Heat, Hot Water, Lawn Care, Parking Fee, Snow Removal
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$1,112
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$1,112
Income
Annual Gross Income:
$33,816
Misc. Annual Income:
None
Misc. Monthly Income:
None
Rent
Annual Net Income:
$24,756
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Compass.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.