Historic Tudor Duplex with
New
For Sale
$775,000
4145 Colfax Avenue S, Minneapolis, MN 55409
Residential Income, Minneapolis, MN
Property Size3,034 SF
Lot Size0.19 Acres
Price / SF$255.44
Days on Market7
Property Features for 4145 Colfax Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6
Parking features
Driveway, Garage - Detached, Open
Exterior features
Brick/Stone, Stucco
Fireplace
1
Subdivision
Remingtons 3rd Add
High school district
Minneapolis
Directions
To Colfax Avenue south, to home.
Standard status
Active
APN
0902824140169
Size
3,034 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
13724
Utilities
Heating system
Oil, Other (Heating), Fireplace(s)
Amenities
shared cobblestone patio
Building Details
Year built
1931
Building materials
Concrete, Stone
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Kurt J Faber
(952) 829-2900
Added: Aug 31
Changed: Sep 5
Last Checked: Sep 6 at 7:06AM
MLS# 7132772
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.
Built in 1931, this brick-and-stucco Tudor duplex contains 3,034 square feet across two three-bedroom, two-bath residences. Each unit includes a full bathroom with built-in vanity, a 3/4 Jack-and-Jill bath serving the secondary bedrooms, formal dining room, eat-in kitchen nook, large pantry, living room fireplace, and access to a shared cobblestone patio. Detached garage parking provides two spaces for each residence, totaling four stalls.
Property improvements include a 2017 roof, one newer boiler, and reconstruction of the upper 17 feet of the chimney masonry with new brick, a limestone overhang, and reinforced concrete cap. The property occupies 0.19 acres at 4145 Colfax Avenue S in Minneapolis, less than two blocks from Lake Harriet and 1.5 blocks from the Rose Garden.
Property improvements include a 2017 roof, one newer boiler, and reconstruction of the upper 17 feet of the chimney masonry with new brick, a limestone overhang, and reinforced concrete cap. The property occupies 0.19 acres at 4145 Colfax Avenue S in Minneapolis, less than two blocks from Lake Harriet and 1.5 blocks from the Rose Garden.
Key Highlights
- Two 3‑bedroom, 2‑bath residences totaling 3,034 square feet
- Four garage stalls, with a detached 2‑car garage serving each unit
- 1931 Tudor‑style construction with brick/stone and stucco exterior
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
$44,329
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
5.72%
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%
$886,580
$886.6K
Cap Rate 7%
$633,271
$633.3K
Cap Rate 9%
$492,544
$492.5K
Market Conditions
NOI Build-Up for 3,034 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
$67.4K $22.20/SF
− Vacancy
−$4.0K −$1.33/SF
EGI
$63.3K $20.87/SF
− OpEx
−$19.0K −$6.26/SF
NOI
$44.3K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /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%
$886,580
Cap Rate 7%
$633,271
Cap Rate 9%
$492,544
Alternative Uses
Best Use
Multifamily LT 5
$633.3K
$554.1K – $738.8K
NOI $44,329 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$581.6K
$508.9K – $678.6K
NOI $40,715 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$723.8K
$633.4K – $844.5K
NOI $50,669 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 55409, MN
11,843
Population
5,488
Households
2.2
Avg Household Size
37
Median Age
63%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
9,110
Density / Sq Mi
$98,056
Median Household Income
$59,430
Median Earnings
$1,364
Median Rent
$365,500
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?
Duplex - Two spacious residences combine period details, updated systems, private garage parking, and shared outdoor space near Lake Harriet.
Where is this duplex located?
The property is located at 4145 Colfax Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath residences totaling 3,034 square feet; Four garage stalls, with a detached 2‑car garage serving each unit; 1931 Tudor‑style construction with brick/stone and stucco exterior
