Residential Income
New
For Sale
$475,000
2814 Colfax Avenue S, Minneapolis, MN 55408
MULTI_FAMILY - Minneapolis, MN
Property Size2,824 SF
Lot Size0.14 Acres
Price / SF$168.20
Days on Market3
Property Features for 2814 Colfax Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 7, Bedroom 5, Bathroom 1, Basement, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 6
Parking features
Driveway, Garage - Detached
Exterior features
Vinyl
Subdivision
Windoms Add
Lot features
Tree Coverage - Light
High school district
Minneapolis
Directions
Take exit 15A toward Lake St/31st St Merge onto Stevens Ave 472 ft Turn right onto E Lake St Turn right onto Colfax Ave S Destination will be on the left
Standard status
Active
APN
3302924440052
Size
2,824 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6317
Utilities
Heating system
Forced Air
Building Details
Year built
1907
Building materials
Block
Roof type
Shingle
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Jacqueline Sandoval
(651) 494-4000
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 31 at 5:06PM
MLS# 7118542
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 residential income duplex offers a total of seven bedrooms and two full bathrooms. The property is currently in need of rehabilitation, presenting an opportunity for buyers looking to add value through improvements.
Located at 2814 Colfax Avenue S in Minneapolis, MN 55408, the home includes a private driveway and two garage spaces, helping with parking convenience in a more urban setting.
Located at 2814 Colfax Avenue S in Minneapolis, MN 55408, the home includes a private driveway and two garage spaces, helping with parking convenience in a more urban setting.
Key Highlights
- Multi‑family building with 7 bedrooms and 2 full bathrooms
- Year built 1907; block construction with vinyl exterior
- Forced‑air heating and shingle roof
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 | $62.7k | $22.20 |
| − Vacancy | −$3.7k | −$1.33 |
| EGI | $58.9k | $20.87 |
| − OpEx | −$17.7k | −$6.26 |
| NOI | $41.3k | $14.61 |
2,824 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$589.4K
$515.8K – $687.7K
NOI $41,261 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$541.4K
$473.7K – $631.6K
NOI $37,897 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$673.7K
$589.5K – $786.0K
NOI $47,162 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,556
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Private driveway and two garage spaces accompany a seven-bedroom, two-bath residential income duplex.
Where is this duplex located?
The property is located at 2814 Colfax Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Multi‑family building with 7 bedrooms and 2 full bathrooms; Year built 1907; block construction with vinyl exterior; Forced‑air heating and shingle roof
