Multifamily property is a great way for investors to diversify their holdings. The asset class offers instant cash flow, future appreciation potential, and are a safeguard for equity over time.
Investors in Minnesota who are just looking to dip their toes in the water may want to start by looking at duplexes for sale.
How to Find a Duplex for Sale in MN
The Twin Cities metropolis has experienced a major construction boom in recent years. Unlike other major cities, where its only large multi family apartments being built, the Twin Cities has benefitted from an array of construction types.
Notably, there’s been a major influx of small multi family properties being built. Investors looking to purchase property here will have several options when searching for a duplex for sale in MN.
In this article, we take a look at some of the most popular MLS platforms to use when searching for duplexes for sale in Minnesota. We’ll also explore ways to find off-market duplexes in MN, and those for sale by owner.
Searching Off-Market: Benefits and Tips
Going off-market has tremendous upside for both brokers and investors.
For brokers, going off-market allows you to discover prime investment properties that are likely to sell, so you can very quickly source your next deal.
For investors, searching off-market cuts out the competition of other buyers, and eliminates the need for intermediaries, which can save you a ton on the cost of acquisition, and make communicating with the property’s decision-makers a breeze.
With the Reonomy Platform, brokers and investors gain access to the entire supply of commercial real estate—from duplexes and triplexes, up to skyscrapers, land, and massive warehouses.
Using Reonomy, you can search off-market in any U.S. market, and filter properties based on their sales and debt history, building and lot size and age, and much more.
From there, you can dive in to those properties to analyze sales history, past values, recent tax changes, and most importantly, unlock the TrueOwner of the property—including the names and contact information of those masked by an LLC—so you can reach out directly and land a deal in an instant.
With the technology in place, off-market deal-making could be the future standard of CRE.
Commercial and Residential Real Estate Listings
Whether you want to invest in a 200+ unit apartment community, or a small duplex for sale in St. Paul MN, there are several online platforms that exist to connect you with sellers.
Here are a few of the most prominent websites that feature commercial and residential real estate listings in Minnesota:
Looking for a duplex for sale St. Paul MN? How about a triplex for sale in Minneapolis? Look no further than Zillow.
Zillow is a fantastic resource for those looking for on-market, MLS listed investment properties. The user-friendly website also allows people to search for recently sold properties, providing useful comparable data for those looking to invest in a duplex for sale MN.
LoopNet is one of the nation’s leading mobile and online real estate marketplaces that is used by investors to locate multi family apartments for sale in MN.
It is essentially Zillow for commercial real estate.
The site tends to feature larger investment opportunities, so this would not be the first stop for someone in search of a duplex for sale MN, for example. However, LoopNet is an excellent resource for those scouting out 4+ unit multi family properties.
Redfin is a fan favorite for those looking to easily search for duplexes for sale in MN.
The website provides useful market insights, such as average sale prices (including year-over-year changes), average days on market, and even provides data about what it took for their buyers to win in a competitive bidding situation.
Homes.com is a useful online platform for those looking to find the perfect duplex for sale MN as an investment property.
The website features all available duplexes for sale in St Paul, Minneapolis, Duluth and Minnesota’s other major markets.
CREXi is a national marketplace used by investors looking for large multi family homes for sale in Minnesota. Occasionally the website also features smaller investment opportunities, such as duplex for sale St. Paul and duplex for sale Duluth.
More seasoned investors may also find CREXi helpful for reaching outside of their comfort zone—beyond multi family investment property for sale to include retail, office and industrial properties for sale in MN, which CREXi also tends to feature.
Minnesota Brokerage Group
Those looking to work with a local multi family broker may want to begin their search by speaking with someone at the Minnesota Brokerage Group.
MGB specializes in selling multi family real estate for sale in Minneapolis.
The team was founded in 1990 and has since brokered more than $100 million in commercial real estate transactions.
Marcus & Millichap
Marcus & Millichap may be known as a national brokerage company, but they have a team based out of Minneapolis that served the entire Minneapolis-St. Paul-Bloomington metro region.
Marcus & Millichap’s local multi family investment team specializes in selling apartment buildings for sale.
They also provide helpful multi family investment forecasts for those looking at smaller investment opportunities, such as duplex for sale St Paul.
Whereas some companies solely connect investors and brokers with multi family homes for sale in Minnesota, there are also a handful of companies like NTH that provide a more comprehensive set of services.
NTH is a locally owned and operated real estate and project management firm that frequently works with investors searching for multi family properties for sale in places like St. Paul, Minneapolis and Duluth, MN.
For Sale by Owner Listings
While online platforms like LoopNet and Zillow are certainly valuable tools for those searching for duplexes for sale MN, some of the best deals to be had are usually found off-market.
Finding off-market deals is no easy task, but there are a few tried and true ways to find for sale by owner (FSBO) duplexes for sale in MN.
Craigslist is a popular go-to website for owners looking to unload their duplex for sale MN without engaging the help of a broker.
Craigslist can be a great site to uncover hidden opportunities, particularly when searching for smaller investment properties such as a duplex for sale St Paul.
FSBO.com has been around for more than two decades at this point, so the online marketplace has become a go-to source for people searching for off-market deals listed FSBO.
Whether you’d like to invest in a condo for sale at Bryan Lake, or a duplex for sale Duluth, there are deals to be had on FSBO.com.
Many people do not realize that they can narrow their Zillow search results to instead, only view properties for sale by owner.
Simply refine your results by using this for-sale-by-owner filter to locate potential off-market deals.
Note: some of these listings may listed by the owner without using a broker, but they may have paid the fee to load their listing to the MLS database, thereby making these listings available to the broader MLS marketplace as well.
How to Search Popular Platforms (with Examples)
Ready to get your search started? Here’s a practical look at how to search some of these platforms for duplexes for sale MN.
Minneapolis MN Multi Family Search with LoopNet
One of the best features of LoopNet is how detailed of information the platform provides about investment opportunities.
For instance, those searching LoopNet for a duplex for sale in Minneapolis will find the site easy to navigate, with pertinent information displayed such as cap rents and gross rent multipliers – highly valuable metrics for those in search of multi family investment properties for sale in Minneapolis.
Each listing also calls out property highlights, such as the location and availability of parking. Agents can easily upload marketing brochures to provide polished details for potential buyers to review.
St. Paul MN Duplex Search with Zillow
Those looking for a St. Paul MN duplex for sale can navigate Zillow with ease.
As you’ll see below, consider searching for both “For Sale” listings (shown as red dots) as well as “Potential” listings (blue dots).
Zillow has a unique algorithm for identifying potential multi family homes for sale in MN, which can give investors a slight advantage when searching for opportunities.
Be sure to filter the search using the “apartments” button to narrow the search results to multi family homes for sale in St. Paul.
Otherwise, you may end up having to filter through dozens of single-family homes for sale that are included in the mix.
Duluth MN Multi Family Search with CREXi
While CREXi tends to feature larger multi family homes for sale, there are occasionally duplex and triplex for sale in Duluth MN as well.
Because CREXi is geared toward more sophisticated investors, each listing goes to great lengths to provide detailed metrics about the property – such as current cash flow, utility costs, and more.
Listings tend to include marketing flyers and occasionally, as we see here, the profit & loss (P&L) statement provided by current owners.
Minnesota Multi Family Search with MN Brokerage Group
Anyone looking for some of the premier multi family investment opportunities in Minnesota will want to consult with MN Brokerage Group.
Simply go to the website and click the “Listings” tab at the top to preview the listings currently offered through MBG.
These multi family listings tend to skew toward the larger side, or those with 20+ units each. These listings typically include townhouse complexes and bigger apartment communities for sale in Minnesota.
You can always try Reonomy as well to go off-market and access the full supply of duplexes and other multi family properties in Minnesota—with the added ability to get directly in touch with decision makers in an instant.