Prime Lyn-Lake Investment Opportunity
An exceptional chance to acquire a well-maintained duplex in one of Minneapolis’ most vibrant neighborhoods. Steps to the Greenway Bike Trail, Soo Line, top restaurants, and retail, this property offers both immediate cash flow and long-term appreciation potential.
Recent capital improvements include: new roof, siding, Rusco windows, and refinished hardwood floors (all 2019), plus updated kitchens, baths, light fixtures, and stainless appliances. A 4-car parking area adds rare convenience.
Utilities are separately metered for gas and electric, reducing owner overhead. Current income streams:
Upper Unit – Market-rate tenant paying $1,775/month.
Lower 3BR Unit – Proven Airbnb performer, averaging an estimated $3,500/month.
Flexible for investors or owner-occupants: live in one unit and generate income from the other, or maximize both as cash-flowing rentals. Strong fundamentals today and positioned for future redevelopment or land value play in this high-demand corridor.
Exceptional value. Strong income. Limited opportunity. Act now.
Active
Price cut: $30K (11/22)
$499,000
2809 Garfield Ave, Minneapolis, MN 55408
5beds
2baths
2,863sqft
Est.:
Duplex Up and Down
Built in 1900
-- sqft lot
$-- Zestimate®
$174/sqft
$-- HOA
What's special
- 64 days |
- 425 |
- 54 |
Zillow last checked: 8 hours ago
Listing updated: December 06, 2025 at 06:46am
Listed by:
Shane Spencer 614-256-8500,
Coldwell Banker Realty,
Todd Nelson 612-875-0200
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6800669
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
Heating
- Forced Air, Radiant, Space Heater
Features
- Basement: Single Tenant Access,Unfinished
Interior area
- Total structure area: 2,863
- Total interior livable area: 2,863 sqft
- Finished area above ground: 2,863
- Finished area below ground: 0
Property
Parking
- Parking features: Open
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Patio & porch: Covered, Front Porch
Lot
- Size: 5,227.2 Square Feet
- Dimensions: 40 x 129
- Features: Irregular Lot
Details
- Foundation area: 1560
- Parcel number: 3402924330161
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex Up and Down
Materials
- Vinyl Siding, Wood Siding
- Roof: Age 8 Years or Less
Condition
- Age of Property: 125
- New construction: No
- Year built: 1900
Utilities & green energy
- Gas: Other
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Haywoods Add
HOA
- Amenities included: Common Garden
Location
- Region: Minneapolis
Financial & listing details
- Price per square foot: $174/sqft
- Tax assessed value: $394,100
- Annual tax amount: $7,489
- Date on market: 10/7/2025
- Cumulative days on market: 61 days
- Tenant pays: Cable TV, Electricity, Gas
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 11/22/2025 | Price change | $499,000-5.7%$174/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6800669 Report a problem | ||
| 11/3/2025 | Price change | $529,000-3.6%$185/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6800669 Report a problem | ||
| 10/10/2025 | Listed for sale | $549,000+22%$192/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6800669 Report a problem | ||
| 9/16/2019 | Sold | $450,000+2.5%$157/sqft |
Source: NorthstarMLS as distributed by MLS GRID #5213023 Report a problem | ||
| 8/20/2019 | Pending sale | $439,000$153/sqft |
Source: Kris Lindahl Real Estate #5213023 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,489 +3.3% | $394,100 -4.3% |
| 2024 | $7,247 +3.9% | $412,000 -9.3% |
| 2023 | $6,978 -2.4% | $454,000 +4.6% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,061/mo
Principal & interest
$2416
Property taxes
$470
Home insurance
$175
Climate risks
Neighborhood: Whittier
Nearby schools
GreatSchools rating
- 2/10Whittier InternationalGrades: PK-5Distance: 0.3 mi
- NAAndersen CommunityGrades: PK-8Distance: 1.4 mi
- 6/10South Senior High SchoolGrades: 9-12Distance: 2.1 mi
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