2616 39th Avenue S, Minneapolis, MN 55406

Minneapolis
Local realty services provided by:ERA Gillespie Real Estate
2616 39th Avenue S,Minneapolis, MN 55406
$399,000
  • 2 Beds
  • 2 Baths
  • 1,500 sq. ft.
  • Multi-family
  • Pending
Listed by: karen murray
Office: keller williams realty integrity
MLS#:7038928
Source:NSMLS

Price summary

  • Price:$399,000
  • Price per sq. ft.:$140.3

About this home

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...

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Home facts

  • Year built:1957
  • Listing ID #:7038928
  • Added:46 day(s) ago
  • Updated:June 27, 2026 at 08:37 AM

Rooms and interior

  • Bedrooms:2
  • Total bathrooms:2
  • Basement:Yes
  • Basement Description:Block, Full
  • Living area:1,500 sq. ft.

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Roof:Age Over 8 Years, Asphalt
  • Year built:1957
  • Building area:1,500 sq. ft.
  • Lot area:0.12 Acres
  • Lot Features:Public Transit (w/in 6 blks)
  • Levels:1 Story

Utilities

  • Water:City Water - Connected
  • Sewer:City Sewer - Connected

Finances and disclosures

  • Price:$399,000
  • Price per sq. ft.:$140.3
  • Tax amount:$7,225 (2026)
Data is deemed reliable but is not guaranteed accurate by the MLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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