NOT LISTED FOR SALE

3340 Colfax Ave S Minneapolis, MN 55408

South Uptown Neighborhood

Estimated Value: $378,000 - $553,061

4 Beds
2 Baths
2,115 Sq Ft
$218/Sq Ft Est. Value

Last Sold December 14, 2023

Last sale price $450,000 $213 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $2,835/month

54 Days on Market

Highlights

  • Guest Parking
  • Detached Carport Space
  • 4-minute walk to Painter Park

About This Home

As of December 2023

Discover 3340 Colfax Ave S, where historic charm meets modern convenience. This converted duplex, upgraded in September 2023, presents a golden investment opportunity. Recent enhancements encompass a new roof, electrical, plumbing, and luxurious interiors in both units, ensuring immediate occupancy & rental income.The main-floor apartment boasts a fully revamped kitchen, bathroom, and energy-efficient LED lighting. Meanwhile, the garden-level apartment dazzles with a fresh kitchen, remodeled bathroom, and in-unit laundry. Privacy and serenity are guaranteed with a new staircase and sound/fire barrier between units.Embrace versatility, whether you prefer owner occupancy with rental income or leasing both units for a savvy investment. With parking for 2-3 cars and a coveted Uptown location, this property is a rare treasure. Seize the chance to own this income-generating gem in Minneapolis' most sought-after neighborhoods!Some photos virtually altered. All measurements approximate.

Last Agent to Sell the Property

Steven Taylor

AiRe Brokers Listed on: 10/11/2023

AiRe Brokers

Last Buyer's Agent

Claire Persaud Ferrell

Coldwell Banker Realty

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,941

Year Built

  • Built in 1909

Lot Details

  • Lot Dimensions are 40 x 129
  • Few Trees

Home Design

  • Duplex
  • Architectural Shingle Roof

Interior Spaces

  • 1.5-Story Property
  • Finished Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Parking

  • Detached Carport Space
  • Guest Parking

Utilities

  • Boiler Heating System

Community Details

  • 2 Units
  • Remingtons 2Nd Add Subdivision

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Assessor Parcel Number 0402824140173

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,941

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Subtype 1: Duplex Up and Down
  • Accessibility Features: None
  • Water Source: City Water/Connected
  • Year Built: 1909
  • Above Grade Finished Sq Ft: 1315
  • Unit Levels: One and One Half
  • New Construction: No
  • FractionalOwnershipYN: No
  • Rental License?: No
  • InternetOptions: Cable,DSL,Fiber Optic,Satellite
  • FoundationDimensions: 1015
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Finished
  • Living Area: 2115
  • Below Grade Finished Sq Ft: 800
  • Owner Pays: None
  • Basement YN: Yes
  • Appliances: Dishwasher,Dryer,Gas Water Heater,Microwave,Range,Stainless Steel Appliances
  • Number Of Fireplaces: 1
  • Total Rooms: 5

Beds/Baths

  • Total Bedrooms: 4

Exterior Features

  • Roof: Age 8 Years or Less, Architectural Shingle
  • ConstructionMaterialsDesc: Timber/Post & Beam,Brick
  • Neighborhood: South Uptown

Garage/Parking

  • Parking Features: Carport, Guest Parking, Parking Lot
  • Carport Spaces: 3
  • Garage Square Feet: 0
  • Garage Door Height: 0
  • Other Parking Spaces: 3

Utilities

  • Heating: Boiler
  • Sewer: City Sewer/Connected
  • Fuel: Natural Gas
  • Number of Ranges: Two

Schools

  • Junior High Dist: Minneapolis
  • SchoolDistrictNumber: 1
  • SchoolDistrictPhone: 612-668-0000

Lot Info

  • Topography: Level
  • Lot Size: 40 X 129
  • Land Lease: No
  • Lot Features: Tree Coverage - Light
  • Additional Parcels: No
  • Zoning Description: Residential-Multi-Family
  • ResoLotSizeUnits: Acres
  • AssessmentPending: No
  • Yearly/Seasonal: Yearly

Building Info

  • Construction Materials: Block, Vinyl Siding
  • Units Total: 2

Rental Info

  • Expenses: 0.0000

Tax Info

  • Tax Year: 2023
  • Assessor Parcel Number: 0402824140173
  • Tax Annual Amount: 3941
  • TaxWithAssessments: 3941.0000

Multi Family

  • TenantPays: Cable TV, Electricity
  • Number Of Refrigerators: Two

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 11, 2023
Closed on
Dec 14, 2023
Sold by
3340 Colfax Llc
Bought by
Bauman Nicolaus
Seller's Agent
Steven Taylor
AiRe Brokers
Buyer's Agent
Claire Persaud Ferrell
Coldwell Banker Realty
List Price
$450,000
Sold Price
$450,000
Views
101
Current Estimated Value
$460,265

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$10,265
Avg. Annual Appreciation
1.31%
Original Mortgage
$405,000
Outstanding Balance
$399,253
Interest Rate
7.76%
Mortgage Type
New Conventional
Estimated Equity
$61,012

Purchase Details

Listed on
Aug 26, 2022
Closed on
Sep 23, 2022
Sold by
The Estate Of Thomas Carl Holmstrom
Bought by
3340 Colfax Llc
Seller's Agent
Stephanie Gruver
RE/MAX Results
Buyer's Agent
Steven Taylor
AiRe Brokers
List Price
$224,900
Sold Price
$224,900

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
76.56%
Original Mortgage
$180,000
Interest Rate
5.22%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 26, 2022
Closed on
Sep 14, 2022
Sold by
Holmstrom Thomas C and Holmstrom Eric C
Bought by
3340 Colfax Llc
Seller's Agent
Stephanie Gruver
RE/MAX Results
Buyer's Agent
Steven Taylor
AiRe Brokers
List Price
$224,900
Sold Price
$224,900

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
5.22%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 27, 2020
Sold by
Holmstrom Thomas C and Estate Of Daniel J Sullivan
Bought by
Holmstrom Thomas C
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Bauman Nicolaus $450,000 --
3340 Colfax Llc $224,900 --
3340 Colfax Llc $224,900 Titlesmart
Holmstrom Thomas C -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bauman Nicolaus $405,000
Previous Owner 3340 Colfax Llc $100,000
Previous Owner 3340 Colfax Llc $180,000
Previous Owner 3340 Colfax Llc $180,000
Previous Owner Sullivan Daniel Joseph $12,870
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/14/2023 12/14/23 Sold $450,000 0.0% $213 / Sq Ft
12/04/2023 12/04/23 Pending -- -- --
11/29/2023 11/29/23 Off Market $450,000 -- --
10/11/2023 10/11/23 For Sale $450,000 +100.1% $213 / Sq Ft
09/23/2022 09/23/22 Sold $224,900 0.0% $140 / Sq Ft
08/26/2022 08/26/22 Pending -- -- --
08/26/2022 08/26/22 For Sale $224,900 -- $140 / Sq Ft
Source: NorthstarMLS

Tax History Compared to Growth

Source: Public Records

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 $4,169 $317,000 $183,000 $134,000
2022 $3,955 $308,000 $139,000 $169,000
2021 $4,267 $295,000 $121,000 $174,000
2020 $4,625 $326,000 $89,600 $236,400
2019 $4,612 $326,000 $82,700 $243,300
2018 $3,893 $316,500 $82,700 $233,800
2017 $3,992 $270,500 $75,200 $195,300
2016 $4,125 $270,500 $75,200 $195,300
2015 $3,981 $251,000 $75,200 $175,800
2014 -- $220,000 $68,000 $152,000
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2023

    Steven Taylor

    AiRe Brokers

    (612) 545-7690

    2 in this area

    5 Total Sales

    Steven Taylor
    Section Image

  • C

    Buyer's Agent in 2023

    Claire Persaud Ferrell

    Coldwell Banker Burnet

    (612) 730-5775

    2 in this area

    32 Total Sales

    Claire Persaud Ferrell
    Section Image
  • Stephanie Gruver

    Seller's Agent in 2022

    Stephanie Gruver

    RE/MAX Results

    (612) 581-5842

    1 in this area

    227 Total Sales

    Stephanie Gruver
    Section Image
  • John Newhall

    Seller Co-Listing Agent in 2022

    John Newhall

    Results Support Services, Inc

    (612) 325-2133

    1 in this area

    52 Total Sales

    John Newhall
    Section Image
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Map

Source: NorthstarMLS

MLS Number: 6446482

NorthstarMLS

APN: 04-028-24-14-0173

Minnesota Hennepin County Minneapolis 55408 South Uptown

3340 Colfax Ave S, Minneapolis, MN

This home is located at 3340 Colfax Ave S, Minneapolis, MN 55408 since 11 October 2023 and is currently estimated at $460,265, approximately $217 per square foot. This property was built in 1909. 3340 Colfax Ave S is a home located in Hennepin County with nearby schools including Kenwood Elementary School, Anwatin Middle School, and North Community High School.

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