101 7th Ave W Floodwood, MN 55736
Estimated payment $1,427/month
About This Home
Awesome 4-plex on the main drag in Floodwood with freshly painted exterior and basement! Investor opportunity! Fully occupied four-unit apartment building with a strong rental history and excellent income potential. Current scheduled gross rents total $3,700 per month ($44,400 annually). Historical operating expenses indicate an estimated Net Operating Income (NOI) of approximately $33,449 per year, resulting in an estimated 15.9% cap rate at the current asking price. Estimated cash flow analysis and income/expense summary are available upon request. One long-term tenant is currently paying below-market rent, providing additional upside potential for future income growth. Buyer to verify all financial information. The selling entity is owned by two licensed real estate professionals.
Listing Agent
Michael Hoffman Realty Brokerage Phone: License #MN 40616883 Listed on: 07/28/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,536
Year Built
- Built in 1965
Parking
- No Garage
Home Design
- Quadruplex
- Poured Concrete
- Rubber Roof
- Wood Siding
- Stucco
Interior Spaces
- 3,120 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Bathrooms
Additional Features
- Public Water Access
- Lot Dimensions are 53x121
Community Details
- 4 Units
Listing and Financial Details
- The owner pays for fuel, trash collection, water, sewer
- Assessor Parcel Number 125-0010-03130
Map
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $4,604 | $126,700 | $3,900 | $122,800 |
| 2023 | $4,062 | $111,800 | $4,900 | $106,900 |
| 2022 | $1,422 | $44,600 | $4,600 | $40,000 |
| 2021 | $1,368 | $38,800 | $4,200 | $34,600 |
| 2020 | $1,388 | $38,800 | $4,200 | $34,600 |
| 2019 | $1,252 | $38,800 | $4,200 | $34,600 |
| 2018 | $1,166 | $38,000 | $7,500 | $30,500 |
| 2017 | $1,108 | $36,700 | $7,500 | $29,200 |
| 2016 | $1,124 | $36,700 | $7,500 | $29,200 |
| 2015 | $1,078 | $36,700 | $7,500 | $29,200 |
| 2014 | $1,078 | $36,700 | $7,500 | $29,200 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/11/2026 08/11/26 | Price Changed | $205,900 | -1.9% | $66 / Sq Ft |
| 07/28/2026 07/28/26 | For Sale | $209,900 | -- | $67 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $140,000 | Pioneer Title | |
| Warranty Deed | $90,000 | Pioneer Title | |
| Land Contract | $90,000 | None Available | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $77,000 | Ctac |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $112,000 | New Conventional | |
| Previous Owner | $67,000 | Commercial | |
| Previous Owner | $56,892 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $61,600 | Commercial |
Source: Lake Superior Area REALTORS®
MLS Number: 6127016
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Ask me questions while you tour the home.