1407 Madison St NE Minneapolis, MN 55413
Logan Park NeighborhoodEstimated payment $4,403/month
Total Views
3,669
6
Beds
3
Baths
2,836
Sq Ft
$235
Price per Sq Ft
Highlights
- Porch
- Hot Water Heating System
- 4-minute walk to Logan Park
About This Home
Turnkey Non-conforming Triplex in Prime NE Minneapolis!
An exceptional opportunity to own a fully leased, well-maintained non-conforming triplex in the heart of Northeast Minneapolis. This building features three, 2 bedroom, 1 bathroom units, each offering in-unit laundry and separate utilities.
All units are currently tenant-occupied with leases in place, making this a true plug and play investment. Positioned on a quiet, tree-lined street with easy access to Logan Park, dining, breweries, coffee shops and all the charm of the NE Arts District, this property offers strong rental appeal and future value growth. Tenants enjoy natural light, and access to a shared backyard and enclosed porches perfect for relaxation or extra storage.
Ideal for both seasoned investors and house hackers. Live in one unit and rent the others or enjoy steady cash flow with three performing units. A rare chance to secure a multifamily property in one of Minneapolis’s most desirable rental markets.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,973
Year Built
- Built in 1916
Parking
- 2 Car Garage
Home Design
- Triplex
Interior Spaces
- 2-Story Property
- Partially Finished Basement
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Bathrooms
Additional Features
- Porch
- Lot Dimensions are 40x127
- Hot Water Heating System
Community Details
- 3 Units
- Monroe Street Add Subdivision
Listing and Financial Details
- Assessor Parcel Number 1402924120185
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| 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 |
|---|---|---|---|---|
| 2023 | $8,062 | $489,000 | $138,000 | $351,000 |
| 2022 | $6,048 | $379,000 | $125,000 | $254,000 |
| 2021 | $5,474 | $356,000 | $69,000 | $287,000 |
| 2020 | $5,904 | $333,000 | $41,900 | $291,100 |
| 2019 | $5,565 | $305,500 | $27,900 | $277,600 |
| 2018 | $5,135 | $277,500 | $27,900 | $249,600 |
| 2017 | $4,773 | $224,000 | $25,400 | $198,600 |
| 2016 | $4,745 | $214,000 | $25,400 | $188,600 |
| 2015 | $3,682 | $179,500 | $25,400 | $154,100 |
| 2014 | -- | $163,000 | $24,200 | $138,800 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/12/2025 08/12/25 | Price Changed | $667,500 | -1.1% | $235 / Sq Ft |
| 06/18/2025 06/18/25 | For Sale | $675,000 | +274.0% | $238 / Sq Ft |
| 07/03/2012 07/03/12 | Sold | $180,500 | +13.5% | $77 / Sq Ft |
| 06/06/2012 06/06/12 | Pending | -- | -- | -- |
| 05/30/2012 05/30/12 | For Sale | $159,000 | -- | $68 / Sq Ft |
Source: NorthstarMLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | $3,000 | Land Title | |
| Warranty Deed | $450,000 | Executive Title Services | |
| Quit Claim Deed | -- | None Available | |
| Limited Warranty Deed | $180,500 | Home Title | |
| Sheriffs Deed | $255,352 | -- | |
| Warranty Deed | $312,000 | -- | |
| Warranty Deed | $301,000 | -- | |
| Warranty Deed | $93,850 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $440,000 | New Conventional | |
| Previous Owner | $439,450 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $99,000 | New Conventional | |
| Previous Owner | $234,000 | Adjustable Rate Mortgage/ARM |
Source: Public Records
Similar Homes in Minneapolis, MN
Source: NorthstarMLS
MLS Number: 6737235
APN: 14-029-24-12-0185
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