504 Buchanan St Unit 506 Red Wing, MN 55066
Estimated payment $2,822/month
About This Home
Turnkey 4-Plex in Prime Location – Historic Charm with Modern Updates. Step into rental property ownership with this updated 4-plex. One unit is currently used as a successful short-term rental; the others bring in solid income. Features include off-street parking, strong curb appeal, and a spot in one of the city’s most sought-after areas. Next door to a favorite neighborhood grocery store and just a short walk to downtown, this historic property offers classic charm with smart updates.
The current owner already handled the big projects—now it's ready for you to take over.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,834
Year Built
- Built in 1890
Lot Details
- Lot Dimensions are 90x121
- Corner Lot
Home Design
- Quadruplex
Interior Spaces
- 2,764 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Basement
- Walk-Out Basement
- Partial Basement
Utilities
- Forced Air Heating System
- 100 Amp Service
Community Details
- 4 Units
- E&R B 11 W Ext Swen Subdivision
Listing and Financial Details
- The owner pays for sewer, trash collection
- Assessor Parcel Number 551600080
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 | $4,056 | $246,000 | $60,800 | $185,200 |
| 2024 | -- | $245,900 | $60,800 | $185,100 |
| 2023 | $3,372 | $225,700 | $60,800 | $164,900 |
| 2022 | $3,030 | $205,200 | $54,700 | $150,500 |
| 2021 | $2,816 | $167,200 | $54,700 | $112,500 |
| 2020 | $3,014 | $157,900 | $54,700 | $103,200 |
| 2019 | $2,878 | $157,900 | $54,700 | $103,200 |
| 2018 | $2,754 | $152,500 | $54,700 | $97,800 |
| 2017 | $2,720 | $152,500 | $54,700 | $97,800 |
| 2016 | $2,470 | $152,500 | $54,700 | $97,800 |
| 2015 | $2,484 | $145,000 | $54,700 | $90,300 |
| 2014 | -- | $145,000 | $54,700 | $90,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/15/2025 05/15/25 | For Sale | $470,000 | -- | $170 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $199,500 | Knight Barry Ttl United Llc | |
| Contract Of Sale | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $156,000 | Commercial |
Source: NorthstarMLS
MLS Number: 6718428
APN: 55.160.0080
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