MLS: #7038928, Listed By: Karen Murray, Keller Williams Realty Integrity, Source:FargoMoorhead Area Association of REALTORS
2616 39th Avenue
Minneapolis, MN 55406
2
Bed
2
Bath
1,500Sqft
0.12Acre(Lot)
Turnkey Duplex Investment! Strong In-Place Income in Rare River-Adjacent Micro-Location! This fully renovated side-by-side duplex presents a compelling, numbers-driven investment opportunity with immediate cash flow, low capital risk, and a highly defensible location premium. Income & Financial Metrics: Unit 1 Rent: $1,495/mo on month-to-month lease. Unit 2 Rent: $1,545/mo on month-to-month lease. Total Monthly Income: $3,040. Annual Gross Income: $36,480. Key Investment Metrics (Pro Forma): GRM: 11.5. Estimated Expenses (25%): $9,120/year ($760/month). Estimated NOI: $27,360/year ($2,280/month). Estimated Cap Rate: 6.5%. Estimated Cash Flow (Before Financing): $2,280/mo. Estimated Cash Flow (With Financing – Illustrative): 25% down ~$180–$300/mo positive. 30% down ~$350–$500/mo positi
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 2Bathroom Information
Total Baths: 2Room Information
Has Basement: Yes Basement: Full, Block, Concrete -
Roofing Information
Asphalt, Shingle -
Interior Features
Roof: Asphalt, Shingle -
Heating & Cooling
Has Heating: Yes Heating: Forced Air
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Building Information
Year Built: 1957 Building Area Total: 2844 Stories: 1 Private Pool: No
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Lot Information
Lot Dimensions: 40x129.23x40x129.23 Main Square Feet: 0.12 Acres Lot Size Acres: 0.12 Lot Size Square Feet: 5227.2 Lot Description: Near Public TransitProperty Information
Subdivision: Dormans 1st Add Source Property Type: Residential Income Property SubType: Duplex Levels: One Property Age: 69
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Listing Price Information
Listing Price: $399000 Original Price: $420000 Cash, Conventional, FHA
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Tax Information
Parcel Number: 3102923420116 Annual Tax: $7225
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Parking Information
Other
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Location Information
Direction: 94 to Riverside, to E Franklin, to Seabury Ave to S 39th Ave. WaterSource: Public
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 4518 Minnehaha Avenue, Minneapolis, MN, 55406 | $430,000 | 4 | 2 | 2,532 | 2,532 SqFt |
| 4348 Minnehaha Avenue, Minneapolis, MN, 55406 | $645,000 | 8 | 4 | 2,912 | 2,912 SqFt |
| 3609 E 42nd Street, Minneapolis, MN, 55406 | $335,000 | 3 | 2 | 1,335 | 1,335 SqFt |
| 2921 33rd Avenue, Minneapolis, MN, 55406 | $300,000 | 6 | 3 | 2,006 | 2,006 SqFt |
| 3305 32nd Avenue, Minneapolis, MN, 55406 | $535,000 | 4 | 3 | 2,140 | 2,140 SqFt |
| 3017 29th Avenue, Minneapolis, MN, 55406 | $425,000 | 5 | 2 | 2,354 | 2,354 SqFt |
| 3221 Minnehaha Avenue, Minneapolis, MN, 55406 | $445,000 | 4 | 3 | 2,428 | 2,428 SqFt |
| 3213 Minnehaha Avenue, Minneapolis, MN, 55406 | $475,000 | 9 | 3 | 3,370 | 3,370 SqFt |
| 3132 Minnehaha Avenue, Minneapolis, MN, 55406 | $599,900 | 8 | 4 | 4,488 | 4,488 SqFt |
Similar Multifamily To 2616 39th Avenue
Nearby For Sale
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ByOwner last updated this listing 06/11/2026 @ 14:44
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