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$350,000

  • For Sale
  • Active
  • Duplex
  • 6 Beds
  • 2 Total Baths
  • 2,006 Sq. Ft.
  • Updated 7 days ago
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Fantastic investment opportunity! This well-maintained and updated true up-and-down duplex offers strong rental income, excellent potential, and easy rental appeal. Top Unit is owner occupied and the bottom unit is 1200/month Each spacious unit features 3 bedrooms, 1 bathroom, beautiful hardwood floors, a separate furnace and water heater, and tenant-paid utilities. Built in 1963, this solid duplex also features coin-operated laundry, off-street parking, and numerous updates throughout. The basement offers additional space with potential to add a third unit, subject to city approval. With large units, separate utilities, strong rents, and a desirable layout, this is a great opportunity for an investor looking for a turn-key, income-producing property with additional upside.

Full Property Details for 3229 Penn Ave N

General

  • Price: $350,000
  • Taxes: $4,038 (2026)
  • Status: Active
  • Type: Duplex
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7146328
  • Updated: 9/18/2026
  • Added to Site: 8 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 2

Bedrooms

  • Total Bedrooms: 6

Other Rooms

  • Laundry: Common Area, Lower Level, Common Area, Lower Level

Parking

  • Parking Features: Parking Lot, Paved Lot

Location

  • County: Hennepin
  • Township: Minneapolis
  • Subdivision: Rheems Add
  • Neighborhood: 12
  • Driving Directions: LOWRY AND PENN NO ON PENN TO HOME

School Information

  • School District: 1 - Minneapolis
  • High School District: Minneapolis

Heating & Cooling

  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Basement: Yes
  • Basement Desc.: Daylight/Lookout Windows, Full, Shared Access, Unfinished
  • Foundation Size: 1008
  • Roof: Age Over 8 Years
  • Disability Access: None
  • Square Feet: 2,006
  • Above Ground: 2,016 Sq. Ft.
  • Finished Down/Base.: 2,016 Sq. Ft.
  • Year Built: 1963

Unit Information

  • Units w/Refrigerators: 2

Lot Features

  • Lot Size (Acres): 0.12
  • Lot Dimensions: 40 x 126
  • Frontage: City Street
  • Lot Description: Light Tree Coverage

Financial Considerations

  • Operating Expenses: $3,000
  • Tax Amount: $4,038.98
  • Tax Year: 2026

Disclosures and Reports

  • Legal Description: LOT 008 BLOCK 001 RHEEMS ADDN TO MPLS
  • Property ID: 802924140155

Listed by RE/MAX Results

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— 3229 Penn Ave N —

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NMLS#: 1598647

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Schools serving 3229 Penn Ave N

School District:Minneapolis Public School District
NameGradesDistance
Lucy Laney @ Cleveland Park Elementary School
3333 North Penn Avenue, Minneapolis, MN 55412
PK-50.1 mi
Olson Middle School, Minneapolis, MN
1607 51st Avenue North, Minneapolis, MN 55430
6-82.3 mi
Henry Senior High School
4320 North Newton Avenue, Minneapolis, MN 55412
9-121.4 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 3229 Penn Ave N Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/17/2026
Listed
$350,000
7.69%
MLS
6/30/2023
Sold
$325,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 3229 Penn Ave N

Year
Property Taxes
Change
Tax Assessment
Change
2025
$4,040
7%
$282,500
2%
2025
$3,785
23%
$276,000
10%
2023
$3,081
-21%
$251,000
3%
2023
$3,886
—
$244,000
-2%
2023
$3,886
5%
$249,000
18%
2020
$3,695
12%
$211,000
15%
2019
$3,302
15%
$183,500
19%
2018
$2,872
11%
$154,000
14%
2017
$2,576
13%
$134,500
13%
2016
$2,284
10%
$119,500
15%
2015
$2,084
—
$104,000
8%
2014
$2,075
-9%
$96,500
-5%
2013
$2,274
—
$101,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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3229 Penn Avenue N, Minneapolis, MN 55412 (MLS# 7146328) is a Duplex property with 6 bedrooms and 0 full bathrooms. 3229 Penn Avenue N is currently listed for $350,000 and was received on September 17, 2026. Want to learn more about 3229 Penn Avenue N? Do you have questions about finding other Duplex real estate for sale in Minneapolis? You can browse all Minneapolis real estate or contact a Coldwell Banker agent to request more information.

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