RealtyLens
for saleRealtyLens property overview
$525,000

2447 Colfax Ave S

Minneapolis, MN, 55405
View more Minneapolis, MN property pages
6Beds
3Baths
3,151Sqft
$167$/sqft

Listing Notes

A prime opportunity for owner-occupants or investors, this classic 1900s duplex at 2447 Colfax is situated in a vibrant neighborhood filled with parks, trails, and diverse entertainment. Recognized by the Betsy-Tacy Society for its literary significance, this historic site was once the home of author Maud Hart Lovelaces sister and brother-in-law. The property features expansive upper and lower wrap-around porches, a shared patio, and a two-car detached garage. Above the garage, a finished 16x19 climate-controlled studio provides additional income, currently rented for $350/month. Inside, Unit 1 ($1, 700/mo) offers an open-concept layout with high ceilings, hardwood floors, and central air. Unit 2 ($2, 200/mo) spans two floors, including a fully finished third-floor loft with its own kitchenette and living space. Significant updates provide peace of mind, including a 2023 roof, newer Carrier furnaces, and updated electrical. This solid, well-maintained duplex is ready for its next chaptercome see it for yourself!

Market Insights

Below nearby median-24%

$167/sqft vs a nearby median of $221/sqft.

Nearby median$221/sqft
Nearby properties10
Property size3,151 sqft
  • -24% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 3,151 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$713k$649k$777k · 50% confidence
vs ask $525k−$188k (−35.8%)

Asking price is about 35.8% below the fair value — likely to draw competing offers if it's still on market.

$221/sqft median across 10 tight comps × 3,151 sqft= $696k
  • Pre-war character+$17k +2.5%
Cumulative NYC adjustments+$17k+2.5%

Property Read

FreshnessVerification recommended

The page is useful for research, but the status and price should be verified before acting.

Market Position-24% vs nearby

The asking price per square foot is below the nearby median, which can be worth a closer comp check.

Price MovementInitial price point

Price history is still limited; review again as more market activity becomes available.

Diligence Read2 items to check
AI ReadinessReady to analyze
Assistant read

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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.

Listing Details

Days on market
4 days
Last price change
No change recorded
Listed
May 8, 2026
Photos
45 photos
Property type
multi family
Status
for sale

Photos

Price History

May 8, 2026Initial record
$525,000for sale

You can also find this listing on Realtor.com.

Listing data sourced from realtor.com. RealtyLens enriches and contextualises it for you, but the original listing lives on the source.