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For Sale:  Minneapolis MLS# 7149370

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Active NEW!
$325,000
/mo Edit
Multi-family:  Duplex Up and Down
6 br • 2 ba • Built 1909
2,278 sqft • 0.12 acres
Minneapolis schools
MLS# 7149370
763-576-8286
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    Property Description

    Welcome to 501 Newton Ave N, a spacious up/down duplex in Minneapolis’ Bryn Mawr/Harrison neighborhood offering an excellent opportunity for an investor at the 1% RULE or owner-occupant looking to house hack! See Supplements for RentOMeter rental analysis of ~$1, 800/unit With approximately 1, 200 finished square feet per unit, this corner property features generous room sizes, hardwood floors, in-unit laundry, and the character you’d expect from a classic Minneapolis duplex. Each unit offers flexible living space with plenty of natural light and comfortable common areas. Live in one unit while renting the other, add this property to your rental portfolio, or explore the potential to maximize rental income over time. Located just minutes from downtown Minneapolis with convenient access to Theodore Wirth Park, bike trails, neighborhood amenities, coffee shops, bus line and lightrial. Whether you're looking for your first investment property or another solid Minneapolis duplex to add to your portfolio, 501 Newton offers space, location and versatility in one package.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $325,000
    Price per sq ft: $143
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 0
    County: Hennepin
    Year Built: 1909
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55405
    Neighborhood/Area: 30
    Subdivision Name: Drews ADD

    Interior

    Bedrooms: 6
    Bathrooms: 2
    Finished Area: 2,278 ft2
    Living Area: 2,278 ft2
    Refrigerators: Two
    Basement Details:
    • Full
    • Unfinished

    Exterior

    Stories: Two
    Garage Spaces: 0
    Foundation Size: 1,200 ft2
    Fencing: Chain Link
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Boiler
    • Forced Air
    Parking Features: Concrete
    Shared Amenities: Porch
    Road Frontage:
    • City Street
    • Paved Streets
    Exterior Material:
    • Block
    • Frame
    • Post and Beam
    Pool: None
    Roof Details:
    • Asphalt
    • Pitched

    Rooms

    Laundry:
    • In Basement
    • In Unit
    • Lower Level
    • Upper Level
    • Washer Hookup

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.12
    Geolocation: 44.9827880859, -93.3061676025
    Lot Dimensions: 128 x 40
    Zoning: Residential-Multi-Family
    Lot Description:
    • Corner Lot
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Light

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None
    Tenant Expenses: Cable TV, Electricity, Gas

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $4,791
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $4,791

    Income

    Annual Gross Income: None

    Rent

    Annual Net Income: None

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Pemberton RE.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.