2541 3rd Ave S Minneapolis, MN 55404
Whittier NeighborhoodEstimated payment $3,973/month
Total Views
5,983
6
Beds
3
Baths
3,260
Sq Ft
$181
Price per Sq Ft
About This Home
Cash Cow! Long term tenants combined with college freshmen (who have to live near campus, which this property qualifies for now! Lots of opportunity to add an additional 4 bedroom unit in the basement! Zoned as a Corridor 4!
Unit #2 is recently renovated and rented at $1,873/month. Unit #1 is 2,000/month
Hugely desirable rental area in the Whittier neighborhood being located directly across from the Minneapolis College of Art and Design (MCAD) and Minneapolis Institute of Art (MIA). New kitchen counters, cabinets and appliances. Newer windows, fresh paint, buffed floors – this house shines! Buyers to verify all measurements. Layout is unique. Unit #1 has front half of 1st floor and all of 2nd floor. Unit #2 has back half of 1st floor (rear entrance door) and all of 3rd floor.
General layout of what a 4 bedroom unit sketched up, but not approved by city of Minneapolis, available in supplements
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,644
Year Built
- Built in 1900
Parking
- 2 Car Garage
Home Design
- Duplex
Interior Spaces
- 3,260 Sq Ft Home
- 2-Story Property
- Unfinished Basement
- Basement Storage
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Bathrooms
Additional Features
- Lot Dimensions are 50x128
- Boiler Heating System
Community Details
- 2 Units
- Geo Galpins Add Subdivision
Listing and Financial Details
- Assessor Parcel Number 3402924140039
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 | $10,214 | $509,000 | $100,000 | $409,000 |
| 2022 | $7,864 | $509,000 | $93,000 | $416,000 |
| 2021 | $5,101 | $451,000 | $60,000 | $391,000 |
| 2020 | $5,294 | $299,500 | $83,900 | $215,600 |
| 2019 | $5,173 | $299,500 | $76,600 | $222,900 |
| 2018 | $4,547 | $285,000 | $76,600 | $208,400 |
| 2017 | $4,039 | $215,500 | $69,600 | $145,900 |
| 2016 | $4,382 | $211,000 | $69,600 | $141,400 |
| 2015 | $3,571 | $176,000 | $69,600 | $106,400 |
| 2014 | -- | $185,000 | $61,900 | $123,100 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2025 06/30/25 | Price Changed | $589,000 | -2.6% | $181 / Sq Ft |
| 05/03/2025 05/03/25 | Price Changed | $605,000 | -3.2% | $186 / Sq Ft |
| 03/25/2025 03/25/25 | For Sale | $625,000 | -- | $192 / Sq Ft |
Source: NorthstarMLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $513,000 | -- | |
| Warranty Deed | $513,000 | None Listed On Document | |
| Warranty Deed | $500,000 | Titlesmart Inc | |
| Warranty Deed | $349,900 | Titlesmart Inc | |
| Deed | $22,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $375,000 | New Conventional | |
| Previous Owner | $343,561 | FHA | |
| Previous Owner | $250,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $245,000 | Construction |
Source: Public Records
Similar Homes in Minneapolis, MN
Source: NorthstarMLS
MLS Number: 6680722
APN: 34-029-24-14-0039
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