732 Vernon Ave NW Elk River, MN 55330
Property details
About 732 Vernon Ave NW
Here’s a great opportunity for investors looking for a solid rental property in Elk River. This remodeled home was updated in 2019 with the intention of being used as a three-unit rental and has been well-maintained ever since, and in accordance with the Elk River (IUP). The renovation included new siding, fresh paint throughout, new interior doors and flooring, and updated kitchen cabinetry in two of the units. All appliances were purchased new in 2019. All systems are currently in good working condition with no known issues. The property consists of three separate units, each featuring its own in-unit laundry, full kitchen, full bathrooms, dining and living areas. Unit 1 offers three bedrooms, Unit 2 is a one-bedroom, and Unit 3, located on the garden level, features three bedrooms. Whether you're a seasoned investor or just getting started, this Elk River triplex delivers strong rental income, updated finishes, and the flexibility to serve multiple tenants—all in a convenient and growing location. THIS IS A LIMITED OPPORTUNITY - PLEASE REACH OUT IF INTERESTED.
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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$674,900
732 Vernon Ave NW
$8,014
closing credit¹
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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. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
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.
Coming Soon: 732 Vernon Ave NW is Coming Soon. This listing has not previously been on the market, but will be on the market soon (no showings are allowed yet). A listing contract has been executed.
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 April 2025, from all listings sold in Elk River, MN there were more than 17 sold above asking price, over 17 sold below and more than 19 were sold right at the asked price. Between March and April 2025, Elk River, MN real estate market has seen increase in the number of listings by 37.1%. In April 2025 median list price was $409,900 and the average listing age was 28 days.