2616 39th Ave S Minneapolis, MN 55406
Seward NeighborhoodEstimated payment $2,762/month
Highlights
- Popular Property
- Forced Air Heating System
- 5-minute walk to Brackett Field Park
- 1-Story Property
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 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!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,225
Year Built
- Built in 1957
Home Design
- Duplex
- Block Foundation
- Fiberglass Siding
Interior Spaces
- 1,500 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Basement
- Basement Fills Entire Space Under The House
- Block Basement Construction
Additional Features
- Lot Dimensions are 40x129.23x40x129.23
- Forced Air Heating System
Community Details
- 2 Units
- Dormans 1St Add Subdivision
Listing and Financial Details
- The owner pays for repairs, sewer, trash collection, water
- Assessor Parcel Number 3102923420116
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $6,256 | $343,000 | $188,000 | $155,000 |
| 2023 | $5,487 | $343,000 | $188,000 | $155,000 |
| 2022 | $4,655 | $298,000 | $159,000 | $139,000 |
| 2021 | $4,264 | $274,000 | $123,000 | $151,000 |
| 2020 | $4,154 | $261,000 | $78,200 | $182,800 |
| 2019 | $3,875 | $235,000 | $52,100 | $182,900 |
| 2018 | $3,743 | $213,500 | $52,100 | $161,400 |
| 2017 | $3,825 | $192,500 | $47,400 | $145,100 |
| 2016 | $3,606 | $175,000 | $47,400 | $127,600 |
| 2015 | $3,412 | $157,000 | $47,400 | $109,600 |
| 2014 | -- | $144,000 | $47,400 | $96,600 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/28/2026 05/28/26 | Price Changed | $399,000 | -5.0% | $266 / Sq Ft |
| 05/14/2026 05/14/26 | For Sale | $420,000 | -- | $280 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $82,900 | -- | |
| Warranty Deed | $68,000 | -- |
Source: NorthstarMLS
MLS Number: 7038928
APN: 31-029-23-42-0116
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Listings courtesy of NorthstarMLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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Ask me questions while you tour the home.