Lake Calhoun Minneapolis Duplex for Sale
Buyer’s Agent: Lakes Area Realty
Seller’s Agent: Jason Reed
This was an amazing Minneapolis duplex that we ended up listing and having great success with right in the Uptown neighborhood. This is right down the road from Lake St., Irving, Laguna Avenue and the amazing neighborhoods next to Lake Calhoun, Lake of the Isles, and Cedarlake.
These neighborhoods are becoming extremely desirable and owning a house that has a unit for rent can drastically reduce the cost of living and ownership.
It’s critically important when you are selling or buying in some of these areas to understand not only the market value of the surrounding single-family homes but also the rental market. You will want to be able to project what kind of rent you should expect and what kind of utility and expenses will eat into your net profit.
Remember that because of the booming economic situation in Minneapolis and the job market in Minnesota, there are many millennials and others that want to live near the Calhoun Isles neighborhood in Minneapolis. Whether they’re trying to enjoy the miles of trails around these parks, the amazing food establishments, or simply the idea of having a short commute in a wonderful community, duplexes near the Chain of Lakes have been amazing properties to both own and to rent out.
While some of these homes might be more expensive because they’re a duplex or triplex, the overall economic impact to your cash flow is going to be much more significant than what you might expect if you’re familiar with single-family home ownership.
We’re always amazed that the secret hasn’t seemed to have gotten out yet and that duplexes and triplexes aren’t the kind of property that everyone’s gunning for.
If you’re looking to buy a house in Lindale, Central, Powderhorn Park, Ecco, Bancroft, Calhoun Isles, Linden Hills, Tangletown, or any of these desirable neighborhoods, consider looking at multi-family options so you can lower your cost of living.
Also published on Medium.