402 W 7th St Red Wing, MN 55066
Estimated payment $1,701/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
Additional Features
- Side Porch
- Boiler Heating System
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 |
|---|---|---|---|---|
| 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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