Two-Unit Duplex with
For Sale
$349,900
Pending
4556 Fillmore St Ne, Columbia Heights, MN 55421
Separate utilities and flexible occupancy create a practical setup for rental operations or owner occupancy.
Property Size2,098 SF
Days on Market109
Property Features for 4556 Fillmore St Ne
General Information
Standard status
Pending
Size
2,098 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,771
Building Details
Buildings
1
Listing Agency:
RE/MAX Results
(651) 274-0025
Listed By:
Nicole L Stone
(651) 274-0025
Source:
Exprealty
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 10:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
Investment Insights
Based on property information with market context.
This 2,098-square-foot duplex at 4556 Fillmore St NE in Columbia Heights, MN contains two distinct residential units. The upper apartment has 3 bedrooms and 1 bath, while the main-level apartment provides 2 bedrooms and 1 bath. The upper unit is occupied, and the lower unit is vacant, allowing the next owner to select a tenant or use the space for owner occupancy. Separate utilities support straightforward unit-level operations.
The property includes a 2-car garage, additional off-street parking, and a low-maintenance exterior and yard. Shopping, parks, transit, and local amenities are readily accessible from the property, adding convenience for residents. The duplex configuration offers a defined two-unit layout with living areas designed for everyday residential use.
The property includes a 2-car garage, additional off-street parking, and a low-maintenance exterior and yard. Shopping, parks, transit, and local amenities are readily accessible from the property, adding convenience for residents. The duplex configuration offers a defined two-unit layout with living areas designed for everyday residential use.
Key Highlights
- 2,098‑square‑foot duplex at 4556 Fillmore St NE, Columbia Heights, MN
- Two units: upper 3‑bedroom, 1‑bath and main‑level 2‑bedroom, 1‑bath layouts
- Upper unit occupied; lower unit vacant for tenant selection or owner occupancy
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
$25,985
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
7.43%
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%
$519,700
$519.7K
Cap Rate 7%
$371,214
$371.2K
Cap Rate 9%
$288,722
$288.7K
Market Conditions
NOI Build-Up for 2,098 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
$39.8K $18.96/SF
− Vacancy
−$2.7K −$1.27/SF
EGI
$37.1K $17.69/SF
− OpEx
−$11.1K −$5.31/SF
NOI
$26.0K $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%
$519,700
Cap Rate 7%
$371,214
Cap Rate 9%
$288,722
Alternative Uses
Best Use
Multifamily LT 5
$371.2K
$324.8K – $433.1K
NOI $25,985 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,944 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$582.8K
$509.9K – $679.9K
NOI $40,793 @ 7.0% cap · market cap 11.66%
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
443
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
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 - Separate utilities and flexible occupancy create a practical setup for rental operations or owner occupancy.
Where is this duplex located?
The property is located at 4556 Fillmore St 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: 2,098‑square‑foot duplex at 4556 Fillmore St NE, Columbia Heights, MN; Two units: upper 3‑bedroom, 1‑bath and main‑level 2‑bedroom, 1‑bath layouts; Upper unit occupied; lower unit vacant for tenant selection or owner occupancy
