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2616 39th Avenue S, 
Minneapolis, MN 55406

$420,000


2

Beds


2

Baths


2,844

Sq Ft


Multi-Family

Active

Listed by

Karen Murray

Keller Williams Realty Integrity

952-938-6100

Last updated:

May 24, 2026, 03:07 PM

MLS#

7038928

Source:

ND FMAAR

About This Home

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!

Home Facts

Multi-Family

2 Baths

2 Bedrooms

Built in 1957

Price Summary

420,000

$147 per Sq. Ft.

MLS #:

7038928

Last Updated:

May 24, 2026, 03:07 PM

Added:

14 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

2

Bathrooms

Total Bathrooms:

2

Interior

Living Area:

2,844 Sq. Ft.


Structure

Structure

Building Area:

2,844 Sq. Ft.

Year Built:

1957


Lot

Lot Size (Sq. Ft):

5,227


Finances & Disclosures

Finances

Price:

$420,000

Price per Sq. Ft:

$147 per Sq. Ft.

Source:ND FMAAR
The information being provided by Fargo-Moorhead Area Association Of REALTORS® Mls is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Fargo-Moorhead Area Association Of REALTORS® Mls All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.