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  • $425,000

    501 W 3rd St, Monticello, MN 55362

    5beds
    3baths
    2,977sqft
    Triplex
    Built in 1956
    -- sqft lot
    $425,000 Zestimate®
    $143/sqft
    $1,850 Estimated rent

    Home value

    $425,000

    $404,000 - $446,000

    $1,850/mo

    Zestimate® history
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    What's special

    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.

    Zillow last checked:

    Listing updated:

    Listed by:

    Marci Segner 320-266-1084,

    RE/MAX Advantage Plus,

    Joy Carlson 320-266-1086

    Bought with:

    Jack Stang

    eXp Realty

    Tyler Miller

    Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7083432MLS Logo

    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: $143/sqft
    • Tax assessed value: $371,200
    • Annual tax amount: $4,906
    • Date on market: 6/4/2026
    • Cumulative days on market: 11 days
    • Tenant pays: Electricity

    Price history

    DateEventPrice
    7/22/2026Sold$425,000+1.9%$143/sqft
    Source: NorthstarMLS as distributed by MLS GRID #7083432 Report a problem
    6/19/2026Pending sale$417,000$140/sqft
    Source: NorthstarMLS as distributed by MLS GRID #7083432 Report a problem
    6/8/2026Listed for sale$417,000+43.8%$140/sqft
    Source: NorthstarMLS as distributed by MLS GRID #7083432 Report a problem
    10/4/2023Listing removed--
    Source: Zillow Rentals Report a problem
    9/25/2023Listed for rent$1,800+28.6%$1/sqft
    Source: Zillow Rentals Report a problem
    8/13/2021Listing removed--
    Source: Zillow Rental Manager Report a problem
    8/6/2021Listed for rent$1,400
    Source: Zillow Rental Manager Report a problem
    5/10/2021Sold$290,000+3.6%$97/sqft
    Source: NorthstarMLS as distributed by MLS GRID #5744029 Report a problem
    4/22/2021Pending sale$279,900$94/sqft
    Source: RE/MAX International #5744029 Report a problem
    4/20/2021Listing removed--
    Source: RE/MAX International Report a problem
    4/10/2021Pending sale$279,900$94/sqft
    Source: RE/MAX International #5731803 Report a problem
    4/8/2021Listed for sale$279,900$94/sqft
    Source: RE/MAX International #5731803 Report a problem

    Public tax history

    YearProperty taxesTax 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

    Neighborhood: 55362

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $425,000
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    Estimated market value
    $425,000