3108 Elliot Avenue, Minneapolis, MN 55407
The Erastus Byers Add · Hennepin County
Key Facts
Description
Rare opportunity to acquire a tri-plex with below-market financing! 2.5% ASSUMABLE LOAN – SAVE $700-$800/MO/$9000 ANNUALLY vs today’s rates. Buyer can assume approx. $432K at 2.5% creating a dramatically lower monthly payment than current market financing. Additional income from coin-operated laundry. Major capital improvements including NEW ROOF (2025), new sewer line (2024), updated electrical, boiler and chimney brought up to code. Fully rented triplex with separate gas and electric, hardwood floors, abundant natural light, basement storage, on-site laundry, PRIVATE OFF-STREET PARKING, and a backyard space. Located 2 blocks from 66-acre Powderhorn Park (with central lake, recreational facilities and trails) and 3 miles from downtown Mpls, offers walkability to local cafes, restaurants, and shops which supports consistent tenant demand. Showings require 24 hour notice.
Property Information
Property Type
Residential Income
Sub-Type
Triplex
Style
(MF) Triplex
Year Built
1894
Living Area
4,218 sq ft
Lot Size
0.11 acres
Lot Dimensions
40x123
Days on Market
49
MLS® Listing#
7024111
Property Features
Heating
Basement
Parking
Laundry
Foundation
Sewer
Water Source
Financial Details
Annual Taxes
$6,926
Parcel Number
0202824210099
Directions
35W Exit 15A 31st St east, take right on Chicago then quick left on 31st St then right on Elliot Ave.
Affordability Calculator
$105,000
Estimated monthly payment
$2,794/mo
Principal $420,000 · Est. interest $585,937 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Minneapolis, MN
- $341,959
- Median Listing Price
- 98
- Median Days on Market
- 1,580
- Median Sq Ft
- $213
- Median Price / Sq Ft
- 3,114
- Active Listings
- This home’s price is 54% above the area median.
- Its price per sq ft is 42% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Minneapolis, MN.
Location
Points of Interest in Minneapolis, MN
Showing the Minneapolis area map.
Nearby Schools
Transition Plus Services
School · 0.3 mi away
Lirio Montessori
Elementary · 0.3 mi away
Laura Ingalls Wilder School
School · 0.3 mi away
Joyce Preschool
School · 0.4 mi away
Cristo Rey Jesuit High School
Secondary · 0.5 mi away
Andersen United Middle School
Elementary · 0.5 mi away
POST Early Child Development Center
School · 0.5 mi away
Richard R Green Central Pk Cmty School
Elementary · 0.6 mi away
South High School
Secondary · 0.8 mi away
Brainco
School · 0.9 mi away
Kaleidoscope Place
School · 0.9 mi away
Transition Plus School
Secondary · 0.9 mi away
Bancroft Elementary
Elementary · 0.9 mi away
Cosmos Montessori
Elementary · 0.9 mi away
Four Winds Elementary School
Elementary · 1.0 mi away
Tcli
School · 1.0 mi away
Hope Academy
School · 1.0 mi away
Center School
Secondary · 1.0 mi away
Folwell Middle School
School · 1.1 mi away
Folwell School, Performing Arts Magnet
Elementary · 1.1 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 2812 S 12th Avenue S, Minneapolis, MN | $375,000 | 8 | 2 | 2,446 |
| 3724 Bloomington Avenue, Minneapolis, MN | $389,900 | 8 | 3 | 3,600 |
| 2740 16th Avenue S, Minneapolis, MN | $399,900 | 8 | 2 | 2,817 |
| 3921 Lyndale Avenue N, Minneapolis, MN | $399,900 | 8 | 4 | 2,660 |
| 2314 Portland Avenue S, Minneapolis, MN | $429,900 | 9 | 3 | 4,105 |
| 524 37th Avenue NE, Minneapolis, MN | $430,000 | 10 | 4 | 2,700 |
Moving Cost Estimate
EXIT Agents in Minneapolis
Listing Courtesy: Edina Realty, Inc. - 9528927000
Presented by: Melanie Swensen