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2616 39th Avenue S
Minneapolis MN 55406 US

$420,000

Active Listing ID 7038928
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2 bed
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Lot: 0.12 Acres
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Other

$420,000

Active Listing ID 7038928
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2616 39th Avenue S 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!

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Property Features

  • Facts
  • Lot Size: 0.12 Acres
  • Property Type: Other
  • Property Sub-type: Other
  • Features
  • Exterior Finish: Brick/Stone, Fiber Board
  • Roof Type: Asphalt, Shingle
  • Heating Fuels: Forced Air

Property

  • propertytype: Other
  • propertysubtype: Other
  • listprice: 420000
  • unparsedaddress: 2616 39th Avenue S
  • postalcity: Minneapolis
  • stateorprovince: MN
  • country: US
  • postalcode: 55406
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 0.12
  • lotsizeunits: Acres
  • lotsizearea: 0.12
  • livingarea: 1500
  • livingareaunits: Square Feet
  • latitude: 44.954929
  • longitude: -93.216925
  • listagentfullname: Karen Murray
  • listagentemail: karenmurray@kw.com
  • listagentkey: 3yd-RMLSMN-502046485
  • listagentmlsid: 502046485
  • listagentpreferredphone: 6125997173
  • listagentofficephone: 9529386100
  • listofficekey: 3yd-RMLSMN-40547
  • listofficemlsid: 40547
  • disclaimer: Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: RMLSMN
  • yearbuilt: 1957
  • listingcontractdate: 2026-05-11
  • listagenturl: http://edina.yourkwoffice.com/
  • countyorparish: Hennepin
  • parcelnumber: 3102923420116
  • heating: Forced Air
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • parkingfeatures: Other
  • roof: Asphalt, Shingle
  • waterfrontyn: False
  • franchiseaffiliation: Keller Williams Realty
  • exteriorfeatures: Brick/Stone, Fiber Board
  • architecturalstyle: Other
  • rooms: Bedroom 1, Bedroom 2
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: False
  • location: -93.21693, 44.95493
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Pinnacle Real Estate Group LLC", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"karenmurray@kw.com", "ListBrokerageCity":"Edina", "ListBrokerageCountry":"US", "ListBrokerageEmail":"klrw876@kw.com", "ListBrokerageLogoUrl":"http://brokerlogos.listhub.net/RMLSMN/6b815c01f1a211df819400219b994c72/20101117113808395.png", "ListBrokerageName":"Pinnacle Real Estate Group LLC", "ListBrokeragePhone":"(612) 998-8959", "ListBrokeragePostalCode":"55439", "ListBrokerageStateOrProvince":"MN", "ListBrokerageUnitNumber":"Suite 350", "ListBrokerageUnparsedAddress":"7401 Metro Blvd", "ListBrokerageWebsiteUrl":"http://edina.yourkwoffice.com/", "ListOfficeAddress1":"7401 Metro Blvd No. 350", "ListOfficeAddress2":"Edina", "ListOfficeBrokerMlsId":null, "ListOfficeCity":"Edina", "ListOfficeCountry":"US", "ListOfficeEmail":"klrw876@kw.com", "ListOfficePostalCode":"55439", "ListOfficeStateOrProvince":"MN", "ListPriceCurrencyType":"USD", "ListingTitle":"Multi-Family - Minneapolis, MN", "ListingURL":"https://listings.listhub.net/pages/RMLSMN/7038928/?channel=rexren", "MLSModificationTimestamp":"2026-05-14T05:05:38Z", "Neighborhoods":[], "PostalCode":null, "RawPropertySubType":null, "RawPropertyType":"Multi-Family", "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":7225, "TaxDescription":null, "TaxYear":"2026"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 5/14/2026 12:03:28 PM GMT
Source Updated Date: 5/18/2026 12:43:10 PM GMT

Courtesy of: Karen Murray, Keller Williams Realty Integrity, karenmurray@kw.com

Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.