Two-Unit Duplex with Detached
For Sale
$349,900
Pending
4556 Fillmore Street NE, Columbia Heights, MN 55421
MULTI_FAMILY - Columbia Heights, MN
Property Size2,098 SF
Lot Size0.18 Acres
Days on Market94
Property Features for 4556 Fillmore Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2
Parking features
Garage - Detached
Exterior features
Stucco
Fencing
Chain Link
Subdivision
Sheffields 2nd Sub
Lot features
Public Transit (w/in 6 blks), Corner Lot
High school district
Columbia Heights
Directions
65/Central to 45th Ave NE to Fillmore St NE - Property on corner
Standard status
Pending
APN
253024330107
Size
2,098 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5771
Utilities
Heating system
Forced Air
Building Details
Year built
1959
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 475-8000
Listed By:
Nicole L Stone
(952) 829-2900
Added: May 13
Changed: Aug 7
Last Checked: Aug 14 at 11:06AM
MLS# 7074057
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.
A well-maintained two-unit duplex built in 1959 offering steady rental income potential. The upper unit is occupied and features a spacious 3-bedroom, 1-bath layout with generous living areas and abundant natural light. The main level unit is intentionally vacant and offers a 2-bedroom, 1-bath floor plan. Separate utilities support convenient tenant management.
The exterior includes stucco construction and chain link fencing, with a shingle roof and forced-air heating. Parking is provided via a detached 2-car garage plus off-street parking.
Set on a 0.175-acre lot, this duplex is designed for low-maintenance living and offers easy access to shopping, parks, transit, and local amenities.
The exterior includes stucco construction and chain link fencing, with a shingle roof and forced-air heating. Parking is provided via a detached 2-car garage plus off-street parking.
Set on a 0.175-acre lot, this duplex is designed for low-maintenance living and offers easy access to shopping, parks, transit, and local amenities.
Key Highlights
- Upper unit occupied; main level intentionally vacant for owner use or tenant selection
- Upper: 3‑bedroom, 1‑bath with generous living areas and abundant natural light
- Lower: 2‑bedroom, 1‑bath floor plan, well‑kept and designed for efficient living
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
438
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 - Two-unit duplex with separate utilities, forced-air heat, and a detached garage with off-street parking in Columbia Heights.
Where is this duplex located?
The property is located at 4556 Fillmore Street 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: Upper unit occupied; main level intentionally vacant for owner use or tenant selection; Upper: 3‑bedroom, 1‑bath with generous living areas and abundant natural light; Lower: 2‑bedroom, 1‑bath floor plan, well‑kept and designed for efficient living
