Excellent turnkey triplex investment opportunity in Monticello! This fully occupied property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit with established tenants and lease agreements in place, offering immediate cash flow and stable rental income. Numerous updates have been completed throughout the property, including remodeled kitchens, bathrooms, flooring, fixtures, and finishes that contribute to strong tenant appeal and pride of ownership. Major improvements include a new roof (2025), new water heater (2025), and new furnace (2021), helping minimize future capital expenses. Separate electric meters serve each unit, and the property is situated on a spacious half-acre lot, offering exceptional outdoor space and flexibility rarely found with multifamily properties. Conveniently located near downtown Monticello, parks, schools, shopping, dining, and major commuter routes, this well-maintained property offers immediate cash flow, a strong rental history, and long-term investment potential. Income and expense information available upon request.
Pending
$417,000
501 W 3rd St, Monticello, MN 55362
5beds
3baths
2,977sqft
Triplex
Built in 1956
-- sqft lot
$416,000 Zestimate®
$140/sqft
$-- HOA
What's special
- 32 days |
- 412 |
- 21 |
Zillow last checked:
Listing updated:
Listed by:
Marci Segner 320-266-1084,
RE/MAX Advantage Plus,
Joy Carlson 320-266-1086
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7083432
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
Heating
- Baseboard, Forced Air
Appliances
- Laundry: Common Area, Main Level, Coin-op Laundry Owned
Features
- Basement: Block
Interior area
- Total structure area: 2,977
- Total interior livable area: 2,977 sqft
- Finished area above ground: 1,898
- Finished area below ground: 1,079
Property
Parking
- Total spaces: 2
- Parking features: Garage
- Garage spaces: 2
- Details: Garage Dimensions (35x21)
Accessibility
- Accessibility features: None
Features
- Levels: One and One Half
- Patio & porch: Front Porch, Patio
Lot
- Size: 0.5 Acres
- Dimensions: 132 x 165 x 132 x 165
- Features: Corner Lot
Details
- Foundation area: 1079
- Parcel number: 155015013040
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Roof: Age 8 Years or Less,Asphalt
Condition
- New construction: No
- Year built: 1956
Utilities & green energy
- Gas: Electric, Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Lower Monticello
HOA
- Amenities included: Laundry, Coin-op Laundry Owned
Location
- Region: Monticello
Financial & listing details
- Price per square foot: $140/sqft
- Tax assessed value: $371,200
- Annual tax amount: $4,906
- Date on market: 6/4/2026
- Cumulative days on market: 21 days
- Tenant pays: Electricity
Estimated market value
$416,000
$395,000 - $437,000
$1,807/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/19/2026 | Pending sale | $417,000$140/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #7083432 Report a problem | ||
| 6/8/2026 | Listed for sale | $417,000+43.8%$140/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7083432 Report a problem | ||
| 10/4/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 9/25/2023 | Listed for rent | $1,800+28.6%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 8/13/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 8/6/2021 | Listed for rent | $1,400 |
Source: Zillow Rental Manager Report a problem | ||
| 5/10/2021 | Sold | $290,000+3.6%$97/sqft |
Source: NorthstarMLS as distributed by MLS GRID #5744029 Report a problem | ||
| 4/22/2021 | Pending sale | $279,900$94/sqft |
Source:  RE/MAX International #5744029 Report a problem | ||
| 4/20/2021 | Listing removed | -- |
Source: RE/MAX International Report a problem | ||
| 4/10/2021 | Pending sale | $279,900$94/sqft |
Source: RE/MAX International #5731803 Report a problem | ||
| 4/8/2021 | Listed for sale | $279,900$94/sqft |
Source: RE/MAX International #5731803 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,344 +7.7% | $371,200 +9% |
| 2024 | $4,034 +1.5% | $340,700 +2.6% |
| 2023 | $3,974 +14.3% | $332,100 +6.3% |
| 2022 | $3,478 +42.2% | $312,300 +24.9% |
| 2021 | $2,446 +10.5% | $250,100 +8.3% |
| 2020 | $2,214 -62.6% | $231,000 +2.8% |
| 2019 | $5,922 +167.5% | $224,800 +22.7% |
| 2018 | $2,214 +15.1% | $183,200 +6.6% |
| 2017 | $1,924 +19.2% | $171,800 |
| 2016 | $1,614 | -- |
| 2015 | $1,614 +2.9% | -- |
| 2014 | $1,568 -3.4% | -- |
| 2013 | $1,623 -23.2% | -- |
| 2012 | $2,114 -7.5% | -- |
| 2011 | $2,284 -5.1% | -- |
| 2010 | $2,405 -5.9% | -- |
| 2009 | $2,557 +0% | -- |
| 2008 | $2,556 +22.3% | -- |
| 2007 | $2,091 -5.5% | -- |
| 2006 | $2,211 -3.4% | -- |
| 2005 | $2,289 -2.6% | -- |
| 2004 | $2,351 +6.3% | -- |
| 2003 | $2,211 +8.6% | -- |
| 2002 | $2,035 -7.4% | -- |
| 2001 | $2,197 | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 55362
Nearby schools
GreatSchools rating
- 9/10Pinewood Elementary SchoolGrades: 1-5Distance: 1.1 mi
- 7/10Monticello Middle SchoolGrades: 6-8Distance: 0.3 mi
- 9/10Monticello Senior High SchoolGrades: 9-12Distance: 1.2 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Minnesota
- Wright County
- Monticello
- 55362
- 501 W 3rd St
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