732 Vernon Ave NW Elk River, MN 55330
Property details
About 732 Vernon Ave NW
Excellent Investment Opportunity in Elk River! Here’s a great chance for investors to secure a well-maintained, income-producing triplex in the heart of Elk River. Originally remodeled in 2019 with the intent of being used as a three-unit rental, the property has been kept in excellent condition and complies with the Elk River Interim Use Permit (IUP). In 2025, the seller completed several updates, including the 2 vacant units being professionally painted, walls, trim and doors, kitchens and bathrooms, and the addition of several new windows—enhancing both the look and function of the home. The 2019 updates included new siding, updated kitchen cabinetry in two units, new interior doors and flooring, and all-new appliances, which remain in good working order. All systems are currently functioning well with no known issues. Each of the three separate units features in-unit laundry, a full kitchen, bathroom, and designated dining and living areas. Unit 1 includes three bedrooms, Unit 2 is a one-bedroom, and Unit 3 (garden level) offers three bedrooms. Whether you're a seasoned investor or just starting out, this Elk River triplex offers strong rental income, updated finishes, and excellent tenant flexibility in a convenient and growing location. This is a limited opportunity—please reach out if interested. Agents: See agent remarks for further info.
Highlights
Summary
- Full Bathrooms: 3
- Appliances: Dryer, Gas Water Heater, Range, Refrigerator, Washer
- Basement: Yes
- Total Bedroom Count: 7
- Garage Space: 2 spaces
- Attached Garage: Yes
- Parking: Attached Garage, Asphalt, Garage Door Opener
- Heating: Forced Air
- Cooling: Central Air
- List Price: $674,900
- Price/SqFt: $230
- HOA Amount: $0
- Annual Tax Amount: $6,088
- Tax Year: 2024
- Lot: Many Trees
- Directions: Hwy 10 to Upland Ave, go north to 8th St then west, then south on Vernon, home on left.
- Year Built: 1990
- Living Area: 2,932 SqFt
- MLS Number: 6725640
- MLS Name: NORTHSTAR
- Office Name: Real Broker, LLC
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Mar 05, 2019 | Home Sold | $165,000 |
| Jan 07, 2004 | Home Sold | $163,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $403,700 | $6,088 |
| 2023 | $408,300 | $6,088 |
| 2022 | $374,100 | $5,758 |
| 2020 | $236,800 | $4,454 |
| 2018 | $203,200 | $3,722 |
| 2017 | $184,600 | $3,536 |
History based on county public records data.
Nearby schools
8
Meadowvale Elementary School
Public District KG-5
0.9 mi
•12701 Elk Lake Rd NW
6
Lincoln Elementary School
Public District KG-5
1.0 mi
•600 School St NW
8
Parker Elementary School
Public District KG-5
1.2 mi
•500 School St NW
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 $68,750. The majority of Elk River, MN residents have income between $35k-100k annually. Typical family type is single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
NASCAR
Pro Wrestling
Soccer
Where do the neighbors shop?
Dick's Sporting Goods
Family Dollar
Old Navy
Where do the neighbors go to eat?
Arbys
Dominos Pizza
Jimmy Johns
What do the neighbors drive?
GMC
Ford
Buick
What do the neighbors listen to?
Adult Hits
New Country
Oldies
Frequently asked questions
About 732 Vernon Ave NW
The listing price of 732 Vernon Ave NW property is $674,900.
The property 732 Vernon Ave NW is a house located in Elk River, Minnesota, 55330.
Active Listing: 732 Vernon Ave NW is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 732 Vernon Ave NW are: Meadowvale Elementary School (GreatSchools Rating 8/10), Lincoln Elementary School (GreatSchools Rating 6/10), Parker Elementary School (GreatSchools Rating 8/10), VandenBerge Middle School (GreatSchools Rating 5/10), Salk STEM Magnet Middle School (GreatSchools Rating 8/10), Spectrum Middle School - Grades 7-8 (GreatSchools Rating 5/10), Ivan Sand Community High School (GreatSchools Rating 2/10), Elk River High School (GreatSchools Rating 7/10), Online 728 (GreatSchools Rating 8/10).
According to the records, the last property tax for 2024 is $6,088 (source: MLS/based on county public records data).
The last sale was on March 5, 2019 for $165,000 (source: MLS/tax record).
The property at 732 Vernon Ave NW has 7 bedrooms and 3 bathrooms.
The property 732 Vernon Ave NW is 2,932 SqFt (source: MLS/tax record).
The year of construction for 732 Vernon Ave NW is 1990.
This home is located at 732 Vernon Ave NW in Elk River, MN and zip code 55330. This 2,932 square foot home was built in 1990. Features: 7 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since May 27, 2025 and is currently priced at $674,900.
In June 2025, from all listings sold in Elk River, MN there were more than 27 sold above asking price, over 22 sold below and more than 18 were sold right at the asked price. The number of homes for sale in Elk River, MN increased by 19% between May and June 2025. While the average time on the market in June 2025 was 25 days, the median list price was $410,000.