Duplex With Detached
For Sale
$349,900
Pending
4509 Fillmore Street NE, Columbia Heights, MN 55421
Residential Income, Columbia Heights, MN
Property Size1,850 SF
Lot Size0.14 Acres
Days on Market56
Property Features for 4509 Fillmore Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Basement
Parking features
Garage - Detached
Exterior features
Aluminum Siding, Stucco
Fencing
Chain Link
Lot features
Tree Coverage - Light
High school district
Columbia Heights
Directions
Central To 45th, East To Filmore, North To Home.
Standard status
Pending
APN
253024340100
Size
1,850 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6006
Utilities
Heating system
Hot Water(Heating), Forced Air
Building Details
Year built
1959
Building materials
Block, Concrete
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Lucas Hansen
(952) 829-2900
Added: Jul 22
Changed: Sep 13
Last Checked: Sep 15 at 9:06AM
MLS# 7114454
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.
This duplex, built in 1959, contains 1,850 square feet on a 0.143-acre parcel. The interior includes five bedrooms, two bathrooms, and a basement. Exterior materials include aluminum siding and stucco, with block and concrete used in construction.
The property includes a detached garage and chain-link fencing. Heating is provided through forced air and hot water systems. It is located in Columbia Heights, Minnesota, within Anoka County.
The property includes a detached garage and chain-link fencing. Heating is provided through forced air and hot water systems. It is located in Columbia Heights, Minnesota, within Anoka County.
Key Highlights
- Duplex with 1,850 square feet of property size
- Five bedrooms, two bathrooms, and a basement
- Detached garage included
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
$22,913
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
6.55%
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%
$458,260
$458.3K
Cap Rate 7%
$327,329
$327.3K
Cap Rate 9%
$254,589
$254.6K
Market Conditions
NOI Build-Up for 1,850 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
$35.1K $18.96/SF
− Vacancy
−$2.3K −$1.27/SF
EGI
$32.7K $17.69/SF
− OpEx
−$9.8K −$5.31/SF
NOI
$22.9K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$458,260
Cap Rate 7%
$327,329
Cap Rate 9%
$254,589
Alternative Uses
Best Use
Multifamily LT 5
$327.3K
$286.4K – $381.9K
NOI $22,913 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$301.6K
$263.9K – $351.9K
NOI $21,114 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$513.9K
$449.6K – $599.5K
NOI $35,971 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a basement, five bedrooms, two bathrooms, and a detached garage.
Where is this duplex located?
The property is located at 4509 Fillmore Street NE Columbia Heights, MN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Duplex with 1,850 square feet of property size; Five bedrooms, two bathrooms, and a basement; Detached garage included
