This tri-plex built in 1875 offers an excellent investment opportunity in a coveted neighborhood just blocks from Carleton College. Situated on a desirable corner lot, this property with more than 2000 finished square feet spans 1.5 stories and features 6 bedrooms and 4 bathrooms, providing accommodations for 6 tenants. The property is fully occupied with each renter paying $500 monthly. The current lease expires mid-June. There is a partial basement with laundry facilities. The property's prime location in one of the area's most sought-after neighborhoods make it ideal for investors seeking a turnkey rental property with established income.
Closed
$200,000
516 College St, Northfield, MN 55057
6beds
2,736sqft
Single Family
Built in 1875
7,405 Square Feet Lot
$199,600 Zestimate®
$73/sqft
$3,604 Estimated rent
Home value
$199,600
$160,000 - $250,000
$3,604/mo
Zestimate® history
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$1,233/mo
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Zillow last checked:
Listing updated:
Listed by:
Robert Schanilec 507-301-1772,
Century 21 Atwood
Bought with:
Peter Mergens
Century 21 Atwood
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6705300
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
- Full bathrooms: 3
- 1/2 bathrooms: 1
Bedroom
- Level: Main
- Area: 228.75 Square Feet
- Dimensions: 15.25x15
Bedroom 2
- Level: Main
- Area: 134.06 Square Feet
- Dimensions: 9.75x13.75
Bedroom 3
- Level: Main
- Area: 152.38 Square Feet
- Dimensions: 11.5x13.25
Bedroom 4
- Level: Main
- Area: 105.75 Square Feet
- Dimensions: 11.75x9
Bedroom 5
- Level: Upper
- Area: 112.13 Square Feet
- Dimensions: 9.75x11.5
Bedroom 6
- Level: Upper
- Area: 190 Square Feet
- Dimensions: 8x23.75
Kitchen
- Level: Main
- Area: 77 Square Feet
- Dimensions: 14x5.5
Kitchen
- Level: Main
- Area: 132.5 Square Feet
- Dimensions: 10x13.25
Kitchen
- Level: Upper
- Area: 105.06 Square Feet
- Dimensions: 10.25x10.25
Living room
- Level: Main
- Area: 178.88 Square Feet
- Dimensions: 13.25x13.5
Living room
- Level: Upper
- Area: 145 Square Feet
- Dimensions: 14.5x10
Heating
- Hot Water, Radiant
Cooling
- None
Features
- Basement: Partial,Unfinished
- Has fireplace: No
Interior area
- Total structure area: 2,736
- Total interior livable area: 2,736 sqft
- Finished area above ground: 2,054
- Finished area below ground: 0
Property
Parking
- Parking features: Gravel
Accessibility
- Accessibility features: None
Features
- Levels: One and One Half
- Stories: 1.5
Lot
- Size: 7,405 Square Feet
- Dimensions: 92 x 82.5
Details
- Foundation area: 684
- Parcel number: 2206200080
- Zoning description: Residential-Single Family
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family
Condition
- New construction: No
- Year built: 1875
Utilities & green energy
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Town
HOA
- Has HOA: No
Location
- Region: Northfield
Financial & listing details
- Price per square foot: $73/sqft
- Annual tax amount: $6,100
- Date on market: 4/19/2025
- Cumulative days on market: 13 days
Price history
| Date | Event | Price |
|---|---|---|
| 5/16/2025 | Sold | $200,000-13%$73/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6705300 Report a problem | ||
| 5/2/2025 | Pending sale | $230,000$84/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6705300 Report a problem | ||
| 4/19/2025 | Listed for sale | $230,000$84/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6705300 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 55057
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Nearby schools
GreatSchools rating
- 9/10Spring Creek Elementary SchoolGrades: PK-5Distance: 0.7 mi
- 8/10Northfield Middle SchoolGrades: 6-8Distance: 1.4 mi
- 9/10Northfield Senior High SchoolGrades: 9-12Distance: 0.8 mi
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Estimated market value
$199,600
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$199,600
- Minnesota
- Rice County
- Northfield
- 55057
- 516 College St
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