Italianate Triplex Residential
444-446 Madison Street NE Minneapolis, MN 55413
444-446 Madison Street NE, Minneapolis, MN, 55413
$885,000
For Sale
$885,000
MULTI_FAMILY - Minneapolis, MN
Property Size3,560 SF
Lot Size0.15 Acres
Price / SF$248.60
Days on Market9
Property Features for 444-446 Madison Street NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 6, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 5, Bedroom 4, Bathroom 2, Basement, Bedroom 7, Bedroom 2
- Parking features
- Driveway, Garage - Detached
- Exterior features
- Stucco
- Standard status
- Active
- APN
- 1402924430038
- Size
- 3,560 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 11187
Utilities
- Heating system
- Other (Heating), Forced Air
Building Details
- Year built
- 1888
- Building materials
- Frame
- Roof type
- Flat, Rubber
Listing Agency
Luke Real Estate
(763) 463-9490
16211 Turnberry Turn NW, Ramsey, MN
Listed by
Jennifer J Geisinger
(763) 441-0570
Added: Jul 10 Checked: Jul 18 at 12:06 am
MLS# 7105425
Listing URL
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 Italianate triplex at 444–446 Madison Street NE offers three rental units with distinctive interior finishes, including hardwood floors, exposed brick, and stained glass. The property also includes private laundry in three units, large kitchens, a front porch, and shared rear porches. Each unit has secured storage, and the building provides plenty of off-street parking for residents.
The seller reports an exceedingly low vacancy history, with less than 30 days of vacancy across all units over the past 16 years. The building sits on a 0.15-acre lot and totals 3,560 square feet.
Configured as a three-unit residential income property, the asset is designed to support straightforward, unit-based occupancy with dedicated in-unit laundry and storage for each tenant.
The seller reports an exceedingly low vacancy history, with less than 30 days of vacancy across all units over the past 16 years. The building sits on a 0.15-acre lot and totals 3,560 square feet.
Configured as a three-unit residential income property, the asset is designed to support straightforward, unit-based occupancy with dedicated in-unit laundry and storage for each tenant.
Key Highlights
- Vacancy has been less than 30 days between all units over the past 16 years
- 1888 frame building with stucco exterior, featuring hardwood floors, exposed brick, and stained glass
- Private laundry available in 3 units plus secured storage rooms for each unit
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 | $79.0k | $22.20 |
| − Vacancy | −$4.7k | −$1.33 |
| EGI | $74.3k | $20.87 |
| − OpEx | −$22.3k | −$6.26 |
| NOI | $52.0k | $14.61 |
3,560 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$743.1K
$650.2K – $866.9K
NOI $52,014 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$682.5K
$597.2K – $796.2K
NOI $47,774 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$849.3K
$743.2K – $990.9K
NOI $59,454 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Italianate triplex with hardwood floors, exposed brick, stained glass, private laundry, and off-street parking, each unit with storage.
Where is this triplex located?
The property is located at 444-446 Madison Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Vacancy has been less than 30 days between all units over the past 16 years; 1888 frame building with stucco exterior, featuring hardwood floors, exposed brick, and stained glass; Private laundry available in 3 units plus secured storage rooms for each unit
