USAMNMinneapolisDormans 1St Add2616 39Th Ave S

2616 39Th Ave S, Minneapolis, MN

Name: 2616 39Th Ave S, For Sale in Minneapolis - eXp Realty
Brand: Keller Williams Realty Integrity
SKU: 7038928
Price: 420000 USD

House

For Sale

Listed price in listed location currency (USD).

$420,000

220

MLS® 7038928

Key Facts
Description
Map

Key Facts

Type Duplex

Levels Residential Income

Size 1500 sqft

Garage

Taxes $7,225

Days Active 2

Lot Size

Approx. Age 1957

Avg. Price Per Sqft $280

MLS® Number 7038928

Property Address: 2616 39th Ave S, Minneapolis, MN, 55406-1861

Average square foot calculated using Size range provided by listing agent.

Description

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 positive. 40% down ~$700–$900/mo positive. These metrics position the asset competitively, offering both stability and yield. Tenant Profile: Fully leased with two A+ tenants. Immediate income continuity. Reduced vacancy risk. Capital Improvements: $30, 000 invested (Q4 2025). Updated kitchens, lighting, flooring, and finishes. Hardwood floors, updated counters/backsplash, newer appliances (gas stoves). Minimal near-term capital needs. Property Configuration: Side-by-side duplex (preferred layout). Each unit: 1 bed, 1 bath (750 sq ft). Separate entrances, Private basements with laundry. Alley access with off-street pluls street parking. Location – Rare, Micro-Market Advantage: Located on a quiet, dead-end street lined with mature trees & historic homes, just one block off West River Road, this property sits in a high-demand micro-location that is exceptionally difficult to replicate. Direct access to West River Parkway and Mississippi River trails offering premier biking, walking, and outdoor lifestyle appeal. Key advantages: Dead-end street. Privacy and low traffic. Walkability to parks, transit, shopping, and restaurants. Strong tenant demand drivers. Surrounded by higher-value homes supporting long-term stability. Opportunities in this specific pocket are extremely limited, reinforcing long-term value. Investment Summary: Proven income. Attractive cap rate. Recent improvements. Strong tenants. Irreplaceable location. This property offers a balanced profile of immediate cash flow and long-term upside in a location that stands apart from typical duplex offerings!

MLS® Number7038928

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1957

BasementBlock, Full

DrivewayOther

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

May 11, 2026List Date

$420,000List Price

Home Appraisal

This property is estimated to sell between: $391,000 and $435,000.

Similar properties in this area sold on average for: $391,600

Expected to sell in 14 days. Similar properties sold in 16 days. This home has been on eXp Realty for 2 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

Commute

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Starting Address

Destination Address

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