#6744640, Listing office: Real Broker, LLC
$675,000 List price
1407 Madison St NE Minneapolis, MN 55413
2,836 sqft
$238 / sqft
Multi-Family
Property details
About 1407 Madison St NE
Turnkey Non-conforming Triplex in Prime NE Minneapolis! An exceptional opportunity to own a fully leased, well-maintained non-conforming triplex in the heart of Northeast Minneapolis. This building features three, 2 bedroom, 1 bathroom units, each offering in-unit laundry and separate utilities. All units are currently tenant-occupied with leases in place, making this a true plug and play investment. Positioned on a quiet, tree-lined street with easy access to Logan Park, dining, breweries, coffee shops and all the charm of the NE Arts District, this property offers strong rental appeal and future value growth. Tenants enjoy natural light, and access to a shared backyard and enclosed porches perfect for relaxation or extra storage. Ideal for both seasoned investors and house hackers. Live in one unit and rent the others or enjoy steady cash flow with three performing units. A rare chance to secure a multifamily property in one of Minneapolis’s most desirable rental markets.
Highlights
Home typeTriplex
HeatingHot Water
StatusActive
Size2,836 sqft
BasementYes
Year built1916
ParkingDetached
MLS #6737235
Garage2 spaces
Summary
- Basement: Yes
- Garage Space: 2 spaces
- Attached Garage: No
- Parking: Detached
- Heating: Hot Water
- List Price: $675,000
- Price/SqFt: $238
- Annual Tax Amount: $8,062
- Tax Year: 2023
- Directions: Head north on Central Ave NE, turn right onto NE Madison St, 1407 Madison St NE will be on the left.
- Year Built: 1916
- Living Area: 2,836 SqFt
- MLS Number: 6737235
- MLS Name: NORTHSTAR
- Office Name: Keller Williams Realty Integrity Lakes
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 20, 2021 | Home Sold | $450,000 |
| Jul 11, 2012 | Home Sold | $180,500 |
| Jan 11, 2005 | Home Sold | $312,000 |
| Sep 11, 2002 | Home Sold | $301,000 |
| Aug 10, 1998 | Home Sold | $94,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $489,000 | $8,062 |
| 2022 | $379,000 | $6,102 |
| 2021 | $356,000 | $6,047 |
| 2020 | $333,000 | $5,473 |
| 2019 | $305,500 | $5,904 |
| 2018 | $277,500 | $5,564 |
| 2017 | $250,000 | $5,135 |
History based on county public records data.
Nearby schools
1
Sheridan Elementary School
Public Magnet PK-5
0.5 mi
•1201 University Ave NE
3
Webster Community School
Public District PK-5
0.6 mi
•425 5th St NE
2
Banaadir Elementary School
Public Charter KG-4
0.7 mi
•1800 2nd St NE
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $56,317. The most common annual income of people living in Minneapolis, MN is between $35k-100k. Residents typically live in single, no kids family. Typical level of education for residents in this area is post secondary degree.
How much money do the neighbors make?
30%
<35k
56%
35k-100k
11%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
62%
Single, No Kids
10%
Single, with Kids
18%
Married, No Kids
10%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
11%
<11 yrs old
5%
12-17 yrs old
43%
18-34 yrs old
36%
35-64 yrs old
5%
65+ yrs old
What do the neighbors do for fun?
Tennis
Music Concerts
Major League Soccer (MLS)
Where do the neighbors shop?
Crate & Barrel
H&M
Banana Republic
Where do the neighbors go to eat?
Starbucks
Chipotle
Jack In The Box
What do the neighbors drive?
BMW
Volkswagen
Toyota
What do the neighbors listen to?
News
Rhythmic Contemporary Hits
Jazz
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1407 Madison St NE
The listing price of 1407 Madison St NE property is $675,000.
The property 1407 Madison St NE is a multi located in Minneapolis, Minnesota, 55413.
Active Listing: 1407 Madison St NE is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 1407 Madison St NE are: Sheridan Elementary School (GreatSchools Rating 1/10), Webster Community School (GreatSchools Rating 3/10), Banaadir Elementary School (GreatSchools Rating 2/10), New City School (GreatSchools Rating 4/10), Yinghua Academy (GreatSchools Rating 8/10), Northeast Community Middle School (GreatSchools Rating 2/10), Edison High School (GreatSchools Rating 3/10), Menlo Park Academy (GreatSchools Rating 1/10), Mts Pease Academy (GreatSchools Rating 3/10).
According to the records, the last property tax for 2023 is $8,062 (source: MLS/based on county public records data).
The last sale was on December 20, 2021 for $450,000 (source: MLS/tax record).
The property 1407 Madison St NE is 2,836 SqFt (source: MLS/tax record).
The year of construction for 1407 Madison St NE is 1916.
This home is located at 1407 Madison St NE in Minneapolis, MN and zip code 55413 in the Logan Park neighborhood. This 2,836 square foot home was built in 1916. Features: 0 bathroom. It has been listed on Rocket Homes since June 13, 2025 and is currently priced at $675,000.
Minneapolis, MN housing market in June 2025 saw over 634 listings sold above listed price, more than 245 sold at listed price and over 363 sold below. The number of homes for sale in Minneapolis, MN increased by 3.4% between May and June 2025. Listings spent 23 days on the market in June 2025, and had a median list price of $359,091 during the same period.
From Rocket Homes Real Estate and based on county public records data.