Quadplex with Detached
For Sale
$414,900
2721 Columbus Avenue, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size2,658 SF
Lot Size0.12 Acres
Price / SF$156.09
Days on Market82
Property Features for 2721 Columbus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2
Parking features
Garage, Garage - Detached
Exterior features
Brick/Stone, Stucco
Subdivision
Woodburn Add
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Medium
High school district
Minneapolis
Directions
26th to Columbus, S to property.
Standard status
Active
APN
3502924320332
Size
2,658 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5916
Utilities
Heating system
Oil
Building Details
Year built
1906
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Timothy L Fisher
(612) 821-7400
Added: Jun 1
Changed: Aug 19
Last Checked: Aug 21 at 8:06AM
MLS# 7084022
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
2721 Columbus Avenue, a four-unit quadplex built in 1906, offers a historic Minneapolis residence with a garage setup that supports tenant parking needs. The exterior features brick/stone and stucco finishes, and the property is heated with oil. Interiors are configured for four separate units, including bedrooms and four bathrooms, with a basement as part of the overall building.
The property sits on a 0.12-acre lot in the Phillips West neighborhood, on a quiet, tree-lined block. The building’s total size is listed at 2,658 square feet, providing a compact multi-unit footprint for an investor or owner-occupant seeking on-site living alongside rental income.
For buyers evaluating a small residential income asset, this quadplex combines period construction details with straightforward, self-contained unit living under one roof, along with detached garage parking and garage parking at the property.
The property sits on a 0.12-acre lot in the Phillips West neighborhood, on a quiet, tree-lined block. The building’s total size is listed at 2,658 square feet, providing a compact multi-unit footprint for an investor or owner-occupant seeking on-site living alongside rental income.
For buyers evaluating a small residential income asset, this quadplex combines period construction details with straightforward, self-contained unit living under one roof, along with detached garage parking and garage parking at the property.
Key Highlights
- Four‑unit quadplex with a basement
- Built in 1906
- 2,658 square feet total building area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,670
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,400
$713.4K
Cap Rate 7%
$509,571
$509.6K
Cap Rate 9%
$396,333
$396.3K
Market Conditions
NOI Build-Up for 2,658 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.2K $26.04/SF
− Vacancy
−$4.4K −$1.64/SF
EGI
$64.9K $24.40/SF
− OpEx
−$29.2K −$10.98/SF
NOI
$35.7K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,400
Cap Rate 7%
$509,571
Cap Rate 9%
$396,333
Alternative Uses
Best Use
Multifamily LT 5
$554.8K
$485.4K – $647.3K
NOI $38,835 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$509.6K
$445.9K – $594.5K
NOI $35,670 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$634.1K
$554.9K – $739.8K
NOI $44,390 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,696
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex built in 1906 with oil heat, brick/stone stucco exterior, and detached garages for parking.
Where is this quadplex located?
The property is located at 2721 Columbus Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Four‑unit quadplex with a basement; Built in 1906; 2,658 square feet total building area
