RealtyLens
for saleRealtyLens property overview
$479,000

2809 Garfield Ave

Minneapolis, MN, 55408
View more Minneapolis, MN property pages
5Beds
2Baths
2,863Sqft
$167$/sqft

Listing Notes

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 through June 2026. Main Floor Unit - Market-rate tenant paying $1, 600/month with 12-month lease beginning March 2026. This unit has previously been a 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.

Market Insights

Below nearby median-35%

$167/sqft vs a nearby median of $256/sqft.

Nearby median$256/sqft
Nearby properties12
Property size2,863 sqft
  • -35% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 2,863 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$751k$683k$819k · 50% confidence
vs ask $479k−$272k (−56.8%)

Asking price is about 56.8% below the fair value — likely to draw competing offers if it's still on market.

$256/sqft median across 12 tight comps × 2,863 sqft= $733k
  • Pre-war character+$18k +2.5%
Cumulative NYC adjustments+$18k+2.5%

Property Read

FreshnessVerification recommended

The page is useful for research, but the status and price should be verified before acting.

Market Position-35% vs nearby

The asking price per square foot is below the nearby median, which can be worth a closer comp check.

Price MovementInitial price point

Price history is still limited; review again as more market activity becomes available.

Diligence Read2 items to check
AI ReadinessReady to analyze
Assistant read

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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.

Listing Details

Days on market
6 days
Last price change
No change recorded
Listed
May 6, 2026
Photos
34 photos
Property type
multi family
Status
for sale

Photos

Price History

May 8, 2026Initial record
$479,000for sale

You can also find this listing on Realtor.com.

Listing data sourced from realtor.com. RealtyLens enriches and contextualises it for you, but the original listing lives on the source.