603 23rd Avenue SW, Rochester, MN 55902
MULTI_FAMILY - Rochester, MN
- Added:
- Apr 6, 2026
- Days on Market:
- 87
- Last Refresh:
- Jul 1 at 7:06 am
Property Features for 603 23rd Avenue SW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Basement, Bedroom 3
- Exterior features
- Vinyl
- Standard status
- Active
- APN
- 640414042631
- Size
- 1,638 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3740
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1900
- Building materials
- Frame
- Roof type
- Shingle
Listing agent James John Clark (507) 424-4422
Listing office Keller Williams Premier Realty 2765 Commerce Dr NW Suite 100, Rochester, MN (507) 424-4422
Listing date Apr 6, 2026
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.
HighLights
- Licensed duplex with two separate units in southwest Rochester
- Central air conditioning and new appliances in both units
- 4 bedrooms and 2 bathrooms plus a basement (rooms listed include Bedroom 1‑4 and Bathroom 1‑2)
- Frame construction with vinyl exterior and a shingle roof
- Forced‑air heating; year built 1900
Overview
Located in southwest Rochester, the property is described as being just minutes from Mayo Clinic, along with nearby shopping, dining, and major roadways. The lot size is listed at 0.109 acres, and the total property size is listed at 1,638 square feet.
As a purchase, this duplex may fit buyers looking for ownership of a multi-family asset where both units can be occupied for rental use, or where one unit could support owner occupancy while the second helps offset expenses. The recent repair history and ongoing updates may also be of interest to tenants, owner-occupants, and investors who want a duplex with completed work and additional improvements underway. The property is offered for sale at $249,500.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.5k | $16.20 |
| − Vacancy | −$1.3k | −$0.81 |
| EGI | $25.2k | $15.39 |
| − OpEx | −$7.6k | −$4.62 |
| NOI | $17.6k | $10.77 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Olmsted
- State
- Minnesota
- Longitude
- -92.499351
- Latitude
- 44.017057
