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For Sale:  Minneapolis MLS# 7068074

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Active NEW!
$525,000
/mo Edit
Multi-family:  Duplex Up and Down
6 br • 3 ba • Built 1900
3,151 sqft • 0.13 acres
Minneapolis schools
MLS# 7068074
763-576-8286
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    Property Description

    A prime opportunity for owner-occupants or investors, this classic 1900s duplex at 2447 Colfax is situated in a vibrant neighborhood filled with parks, trails, and diverse entertainment. Recognized by the Betsy-Tacy Society for its literary significance, this historic site was once the home of author Maud Hart Lovelace’s sister and brother-in-law. The property features expansive upper and lower wrap-around porches, a shared patio, and a two-car detached garage. Above the garage, a finished 16x19 climate-controlled studio provides additional income, currently rented for $350/month. Inside, Unit 1 ($1, 700/mo) offers an open-concept layout with high ceilings, hardwood floors, and central air. Unit 2 ($2, 200/mo) spans two floors, including a fully finished third-floor loft with its own kitchenette and living space. Significant updates provide peace of mind, including a 2023 roof, newer Carrier furnaces, and updated electrical. This solid, well-maintained duplex is ready for its next chapter—come see it for yourself!

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $525,000
    Price per sq ft: $167
    Property Type: Multi-family
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1900
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 55405
    Neighborhood/Area: 47

    Interior

    Bedrooms: 6
    Bathrooms: 3
    Finished Area: 3,151 ft2
    Living Area: 3,151 ft2
    Refrigerators: Three
    Basement Details:
    • Daylight/Lookout Windows
    • Full

    Exterior

    Stories: More Than 2 Stories
    Garage Spaces: 2
    Garage Dimensions: 24x24
    Garage Size: 576 ft2
    Garage Door Height: 6
    Garage Door Width: 16
    Foundation Size: 672 ft2
    Fencing: None
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System:
    • Baseboard
    • Ductless Mini-Split
    • Forced Air
    • Humidifier
    • Other
    Parking Features:
    • Concrete
    • Detached Garage
    • Electric
    • Finished Garage
    • Garage Door Opener
    • Heated Garage
    • No Int Access to Dwelling
    • Storage
    Shared Amenities:
    • Laundry
    • Patio
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    • Sidewalks
    • Storm Sewer
    • Street Lights
    Pool: None
    Roof Details:
    • Age 8 Years or Less
    • Age Over 8 Years
    • Asphalt
    • Pitched

    Rooms

    Laundry:
    • In Basement
    • Lower Level
    • Washer Hookup

    Lot & Land

    Acres: 0.13
    Geolocation: 44.957609, -93.291487
    Lot Dimensions: 45 x 128
    Zoning: Residential-Multi-Family
    Lot Description:
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Light

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $3,331
    Annual Fuel Expense: $2,276
    Annual Insurance Expense: $4,270
    Annual Maintenance Expense: $425
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $2,654
    Tenant Expenses: Electricity, Gas

    Financial & Taxes

    Tax Year: 2026
    Annual Taxes: $9,449
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $9,449

    Income

    Annual Gross Income: $51,000

    Rent

    Annual Net Income: $14,060

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected
    Power Company Name: Xcel Energy

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Coldwell Banker Realty - Southwest Regional.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.