402 W 7th St Red Wing, MN 55066
Estimated payment $1,730/month
About This Home
This triplex is a great investment opportunity! Unit 1 is located on the main level and it is used as a fully furnished Short Term Rental. This unit is warm and inviting and offers a bright living room, large kitchen with a walk-out bay window, and one spacious bedroom with an ensuite full bath that has a beautiful tile surround. Unit 2 is a Long Term Rental located on the main level and it features a large living room, 2 bedrooms, office, eat-in kitchen, full bath and an in unit washer and dryer. Unit 3 is located on the upper level and has a living room, kitchen, 2 bedrooms, walk-in closet, storage closet, laundry room and a full bath. Units 2 and 3 have Long Term Rental Licenses with the City of Red Wing and Unit 1 has a Short Term Rental License. The building last passed the City of Red Wing's rental inspection in late 2025. In the last few years, the owners have added a whole house water softener, put in a new boiler that heats units 1 and 2, installed new water heaters in both Units 1 and 2, installed new flooring in the entryway and kitchen of Unit 1, and installed new flooring throughout Unit 3.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,776
Year Built
- Built in 1880
Lot Details
- Lot Dimensions are 60 x 76
- Corner Lot
Parking
- On-Street Parking
Home Design
- Triplex
- Pitched Roof
Interior Spaces
- 2,449 Sq Ft Home
- 2-Story Property
- Unfinished Basement
- Partial Basement
- Laundry in unit
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Bathrooms
Outdoor Features
- Side Porch
Utilities
- Boiler Heating System
- 100 Amp Service
Community Details
- 3 Units
- City/Red Wing Subdivision
Listing and Financial Details
- The owner pays for broadband, electricity, sewer, water
- Assessor Parcel Number 550050470
Map
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 |
|---|---|---|---|---|
| 2025 | $3,776 | $233,100 | $25,900 | $207,200 |
| 2024 | -- | $229,000 | $25,900 | $203,100 |
| 2023 | $3,494 | $214,100 | $25,900 | $188,200 |
| 2022 | $3,250 | $212,600 | $25,900 | $186,700 |
| 2021 | $3,158 | $179,300 | $25,900 | $153,400 |
| 2020 | $2,756 | $167,500 | $25,900 | $141,600 |
| 2019 | $2,716 | $144,400 | $25,900 | $118,500 |
| 2018 | $2,028 | $143,900 | $24,800 | $119,100 |
| 2017 | $1,968 | $112,200 | $24,800 | $87,400 |
| 2016 | $1,764 | $110,300 | $24,800 | $85,500 |
| 2015 | $1,468 | $103,600 | $24,800 | $78,800 |
| 2014 | -- | $85,700 | $24,800 | $60,900 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/31/2026 03/31/26 | Pending | -- | -- | -- |
| 03/20/2026 03/20/26 | For Sale | $265,000 | 0.0% | $108 / Sq Ft |
| 03/02/2026 03/02/26 | Off Market | $265,000 | -- | -- |
| 01/12/2026 01/12/26 | For Sale | $265,000 | -- | $108 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $169,751 | -- | |
| Warranty Deed | $88,000 | Attorney | |
| Warranty Deed | $95,000 | -- | |
| Warranty Deed | $91,000 | -- | |
| Warranty Deed | $69,000 | -- |
Source: NorthstarMLS
MLS Number: 7002412
APN: 55.005.0470
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
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Ask me questions while you tour the home.