Pending

Price cut: $25.5K (5/28)

$249,500

603 23rd Ave SW, Rochester, MN 55902

4beds

2baths

1,638sqft

$1,656/mo

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Duplex Up and Down

Built in 1900

-- sqft lot

$-- Zestimate^®

$152/sqft

$-- HOA

What's special

Licensed duplexTwo separate unitsNew appliancesCentral air conditioning

Fantastic investment opportunity in a convenient southwest Rochester location just minutes from Mayo Clinic, shopping, dining, and major roadways. This licensed duplex (renewal in progress) offers strong rental potential for both owner-occupants and investors alike. This property features two separate units with central air conditioning and new appliances, providing excellent income-producing possibilities or flexible living arrangements. Ideal for long-term rentals, traveling professionals, or housed-hacking opportunities. Extensive repairs and improvements have recently been completed, with additional updates currently in progress, offering buyers added value and continued property Don't miss your chance to own a multi-family property in a highly desirable rental market with consistent demand.

109 days

338

10

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 2

Heating

Forced Air

Appliances

Laundry: In Basement, Common Area

Features

Basement: Full

Interior area

Total structure area: 3,276
Total interior livable area: 1,638 sqft
Finished area above ground: 1,638
Finished area below ground: 0

Property

Accessibility

Accessibility features: None

Features

Levels: Two
Patio & porch: Covered, Porch
Pool features: None
Fencing: None

Lot

Size: 4,748 Square Feet
Dimensions: 132 x 91
Features: Near Public Transit, Tree Coverage - Medium
Topography: Rolling

Details

Foundation area: 819
Parcel number: 640414042631
Zoning description: Residential-Multi-Family

Construction

Type & style

Home type: MultiFamily
Property subtype: Duplex Up and Down

Materials

Frame
Roof: Age 8 Years or Less,Asphalt

Condition

New construction: No
Year built: 1900

Utilities & green energy

Electric: Circuit Breakers, 150 Amp Service
Gas: Natural Gas
Sewer: City Sewer/Connected
Water: City Water/Connected

Community & HOA

Community

Subdivision: Hillcrest Sub

HOA

Amenities included: Laundry, Deck, Porch

Location

Region: Rochester

Financial & listing details

Price per square foot: $152/sqft
Tax assessed value: $220,800
Annual tax amount: $3,740
Date on market: 4/6/2026
Cumulative days on market: 109 days
Tenant pays: Cable TV, Trash Collection
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
7/13/2026	Listing removed	$1,300$1/sqft
Source: Zillow Rentals Report a problem
7/9/2026	Pending sale	$249,500$152/sqft
Source: NorthstarMLS as distributed by MLS GRID #7049727 Report a problem
6/10/2026	Listed for rent	$1,300$1/sqft
Source: Zillow Rentals Report a problem
5/28/2026	Price change	$249,500-9.3%$152/sqft
Source: NorthstarMLS as distributed by MLS GRID #7049727 Report a problem
4/24/2026	Price change	$275,000-8.3%$168/sqft
Source: NorthstarMLS as distributed by MLS GRID #7049727 Report a problem
4/6/2026	Listed for sale	$300,000+614.3%$183/sqft
Source: NorthstarMLS as distributed by MLS GRID #7049727 Report a problem
8/1/2003	Sold	$42,000$26/sqft
Source: Agent Provided Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,585 +10%	$220,800 +3.7%
2024	$3,258	$213,000
2023	--	$213,000 +6.8%
2022	$2,408 -0.4%	$199,500 +38.4%
2021	$2,418 -1.2%	$144,100 -0.4%
2020	$2,448 +8.7%	$144,700 +11.2%
2019	$2,252	$130,100 +11.7%
2017	$2,252 +24.3%	$116,500 +13.4%
2016	$1,812	$102,700 -9.4%
2015	$1,812 -11.7%	$113,300 +2.7%
2014	$2,052 +11.2%	$110,300 +1.7%
2012	$1,846	$108,500
2011	--	$108,500 -2.6%
2010	$1,748 -0.3%	$111,400
2008	$1,754	$111,400

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

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.

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Climate risks

Neighborhood: 55902

Getting around

49 / 100

Car-Dependent

45 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

8/10
Folwell Elementary School
Grades: PK-5Distance: 0.7 mi
5/10
John Adams Middle School
Grades: 6-8Distance: 2.8 mi
9/10
Mayo Senior High School
Grades: 9-12Distance: 2.8 mi

Schools provided by the listing agent

Elementary: Folwell
Middle: John Adams
High: Mayo

Source: NorthstarMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.