Duplex for Sale Minnesota Seward Minneapolis
Buyer’s Agent: Jason Reed
Seller’s Agent: Jason Reed
We wanted to celebrate another duplex that we listed and sold in the Seward neighborhood in Minneapolis. Seward is a great neighborhood in Minneapolis right on the triangle borders of Hiawatha, midtown Greenway, and the Mississippi River around Interstate 94.
These are also very desirable neighborhoods to purchase duplexes and triplexes in around the Cooper, Longfellow, East Phillips, Ventura, and Cedar-Riverside areas.
This neighborhood is where the Milwaukeee Avenue Historic District, Northern Clay Center and Seward Co-Ops are.
This neighborhood is kind of funny because it was rated by City Pages as one of the “Best Hipster Neighborhoods in Minneapolis.”
Because this is becoming such a desirable place to live, being a landlord and owning a duplex or triplex positions yourself to be in the neighborhood that’s heading in an upward and forward direction.
If you’re thinking about buying a new home in the Seward neighborhood and you’ve been googling homes for sale in Seward Minneapolis – you should definitely consider purchasing a duplex or triplex instead of a single-family home.
Remember that when you purchase a duplex or triplex as an owner occupant, you will be able to use the projected rent as income towards your approval process when getting a mortgage. This means that you might be able to purchase just a little bit more home if it’s a duplex or triplex rather than a single-family home.
Not only will you be able to qualify for a larger asking price, but your overall expenses will probably be much lower as long as you can create a place the tenants want to rent. Rental income from a duplex unit can often cover a large portion or the entire portion of your mortgage.
This means that you can live in this hipster neighborhood in Minneapolis nearly rent free, and depending on the situation you end up investing in, you might be able to create cash flow.
If you have a healthy down payment to put towards a duplex purchase in Minneapolis, you will probably be able to find an amazing value that creates positive cash flow that can actually build wealth over time. Remember that after a duplex property is paid off, it will turn into a cash machine and pay out like an annuity overtime.
It’s also important to remember that the income from an investment property in Minneapolis is going to be considered passive income, which is not subject to self-employment taxes and will also be offset by any expenses, interest payments, and other write offs.
When you end up investing in a duplex in Minneapolis or St. Paul and you rent it out as an investment, you’ll find that the rental property is a lot like owning a business. You will now be able to use other people’s money and other people’s efforts to pay off the mortgage on your investment.
We cover this in almost every post we write, but we want to keep the vision of how amazing a duplex or triplex is in front of readers. There are very few cities around the United States that have as many duplexes as Saint Paul, Minneapolis, and the surrounding Twin Cities region. This means that there is an opportunity for people to purchase a duplex or triplex, and create income for themselves whether they live in it as an owner occupied unit, or if they decide to use it just as an investment property.
There are so many reasons that a duplex or triplex can be one of the best financial choices you make in your life. When people retire, their home is often the largest asset that they have, and yet it’s been nothing but an expense their entire life. When you have a rental property investment, your home is not simply an expense, it is an income-producing asset.
When you calculate the opportunity cost of your own cash flow, you’ll realize that making the choice to live in a duplex or triplex in Minneapolis can significantly change your financial future.
It’s important for millennials, baby boomers, and those looking for alternative investments to consider the low Complexity scope of triplex or duplex investments. While owning a multi-family home can sometimes be overwhelming and create headaches for landlords, a duplex or triplex tends to be a much easier investment to manage. Rather than having more than four units, your scope of management is reduced to one or two additional units – and if you owner occupy, you will be living within proximity of your tenants and be able to establish a friendly and respectful culture around your property.
We are absolutely thrilled about how 2017 is wrapping up, and this is just another victory for a buyer and seller of a duplex in Minneapolis.
Also published on Medium.