Market Spotlight - North Minneapolis

North Minneapolis is located in the Northwest corner of the city.

North Minneapolis is a generalized term that refers to the communities of Near North and Camden. Each of these communities is made up of several different neighborhoods.

	Near North Community: Harrison Hawthorne Jordan Near North Sumner-Glenwood Willard Hay
	Camden Community: Cleveland Folwell Lind-Bohanon McKinley Shingle Creek Victory Webber-Camden

Each of the communities also happens to correlate to a different zip code. Near North matches the zip code 55411 and Camden matches the zip code 55412.

According to Costar there are 103 multi family properties in Near North (55411) and 58 multi family properties in Camden (55412). For the purposes of this report, multi family properties are defined as those that include four or more separate units.

*The following graphs were originally posted with the information for 2023 Q1. The current graphs have been corrected to include this information.

What's impacting multi family sales?

Macro Economy

• Interest Rates

• Inflation

Local Policies & Demographics

• Possibility Of Rent Control?

• Population Shift

Investor Motivations

• Low Inventory

• Risk Adjusted Returns

• Still High Demand For Housing

Specific Sale Example

2115 N 44th, Minneapolis, MN 55412

Units: 6

• 3 - 2BR

• 2 - 1BR

• 1 - Studio

Closed on 06/20/2023

Sale Price: $702,001

Price Per Unit: $117,000

Price Per Sq Ft: $138

Gross Monthly Rent: $7,030

Net Operating Income: $53,940

Gross Rent Multiplier: 8

Cap Rate: 7.68%

If you'd like a personalized analysis of your multi family property please contact John Stiles at Apartment Cash Flow, Inc.