Located at 705 1st Ave SW in Rochester, MN, this thoughtfully designed 2-bedroom, 2-bathroom residence offers a clean, modern aesthetic throughout its single-floor layout. Light-toned hardwood flooring and recessed lighting flow through the hallways and main living areas, creating a bright and welcoming atmosphere. The open-concept kitchen and living room serve as the heart of the home. The kitchen is equipped with stainless steel appliances, two-tone cabinetry featuring white upper cabinets and slate-blue lower cabinets, white quartz countertops, a central island with seating, subway tile backsplash, and pendant lighting. A large window offers views of an outdoor terrace and the surrounding cityscape, flooding the space with natural light. A built-in floating desk with natural wood shelving provides a dedicated workspace just off the main living area. The primary bedroom is generously sized, featuring plush carpeting and direct access to both a walk-in closet and an en-suite bathroom with a walk-in shower. The second bedroom is bright and comfortable, with a large window overlooking outdoor greenery. The second bathroom includes a full tub-shower combination with matte black fixtures. Additional highlights include five closets for abundant storage, an in-unit laundry area, a utility room, and a private balcony.
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Matterport 3D Exterior
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Monthly Rent
$1,625 - $3,795
Plus Fees12 Month Lease
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Bedrooms
Studio - 3 bd
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Bathrooms
1 - 2.5 ba
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Square Feet
532 - 1,739 sq ft
Highlights
- New Construction
- Roof Terrace
- Tennis Court
- Den
- Pet Washing Station
- Pool
- Walk-In Closets
- Deck
- Spa
Pricing & Floor Plans
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Unit 402price $1,775square feet 711availibility Now
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Unit 529price $1,775square feet 711availibility Now
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Unit 716price $1,975square feet 711availibility Now
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Unit 314price $1,625square feet 532availibility Jul 23
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Unit 427price $1,790square feet 707availibility Now
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Unit 313price $1,799square feet 707availibility Now
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Unit 521price $1,825square feet 707availibility Now
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Unit 307price $1,815square feet 696availibility Now
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Unit 309price $1,815square feet 696availibility Now
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Unit 407price $1,815square feet 696availibility Now
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Unit 438price $1,930square feet 701availibility Now
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Unit 538price $1,930square feet 701availibility Now
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Unit 404price $1,975square feet 753availibility Now
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Unit 406price $1,975square feet 753availibility Now
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Unit 408price $2,015square feet 753availibility Now
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Unit 341price $2,725square feet 1,084availibility Now
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Unit 641price $2,725square feet 1,084availibility Now
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Unit 101price $2,795square feet 1,246availibility Now
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Unit 102price $2,795square feet 1,246availibility Now
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Unit 103price $2,795square feet 1,246availibility Now
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Unit 325price $2,890square feet 1,203availibility Now
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Unit 425price $2,890square feet 1,203availibility Now
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Unit 625price $2,895square feet 1,203availibility Now
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Unit 442price $2,990square feet 1,239availibility Now
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Unit 542price $3,025square feet 1,239availibility Now
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Unit 437price $2,995square feet 1,393availibility Now
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Unit 114price $2,995square feet 1,348availibility Now
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Unit 115price $3,495square feet 1,348availibility Now
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Unit 105price $3,045square feet 1,272availibility Now
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Unit 637price $3,100square feet 1,394availibility Now
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Unit 113price $3,400square feet 1,341availibility Now
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Unit 707price $3,470square feet 1,184availibility Now
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Unit 110price $3,495square feet 1,739availibility Now
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Unit 111price $3,600square feet 1,480availibility Now
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Unit 112price $3,695square feet 1,508availibility Now
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Unit 336price $3,295square feet 1,280availibility Now
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Unit 436price $3,795square feet 1,280availibility Now
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Unit 536price $3,795square feet 1,280availibility Now
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Unit 305price $3,700square feet 1,375availibility Now
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Unit 405price $3,775square feet 1,375availibility Now
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Unit 505price $3,775square feet 1,375availibility Now
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Unit 402price $1,775square feet 711availibility Now
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Unit 529price $1,775square feet 711availibility Now
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Unit 716price $1,975square feet 711availibility Now
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Unit 314price $1,625square feet 532availibility Jul 23
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Unit 427price $1,790square feet 707availibility Now
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Unit 313price $1,799square feet 707availibility Now
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Unit 521price $1,825square feet 707availibility Now
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Unit 307price $1,815square feet 696availibility Now
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Unit 309price $1,815square feet 696availibility Now
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Unit 407price $1,815square feet 696availibility Now
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Unit 438price $1,930square feet 701availibility Now
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Unit 538price $1,930square feet 701availibility Now
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Unit 404price $1,975square feet 753availibility Now
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Unit 406price $1,975square feet 753availibility Now
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Unit 408price $2,015square feet 753availibility Now
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Unit 341price $2,725square feet 1,084availibility Now
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Unit 641price $2,725square feet 1,084availibility Now
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Unit 101price $2,795square feet 1,246availibility Now
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Unit 102price $2,795square feet 1,246availibility Now
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Unit 103price $2,795square feet 1,246availibility Now
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Unit 325price $2,890square feet 1,203availibility Now
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Unit 425price $2,890square feet 1,203availibility Now
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Unit 625price $2,895square feet 1,203availibility Now
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Unit 442price $2,990square feet 1,239availibility Now
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Unit 542price $3,025square feet 1,239availibility Now
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Unit 437price $2,995square feet 1,393availibility Now
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Unit 114price $2,995square feet 1,348availibility Now
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Unit 115price $3,495square feet 1,348availibility Now
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Unit 105price $3,045square feet 1,272availibility Now
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Unit 637price $3,100square feet 1,394availibility Now
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Unit 113price $3,400square feet 1,341availibility Now
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Unit 707price $3,470square feet 1,184availibility Now
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Unit 110price $3,495square feet 1,739availibility Now
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Unit 111price $3,600square feet 1,480availibility Now
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Unit 112price $3,695square feet 1,508availibility Now
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Unit 336price $3,295square feet 1,280availibility Now
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Unit 436price $3,795square feet 1,280availibility Now
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Unit 536price $3,795square feet 1,280availibility Now
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Unit 305price $3,700square feet 1,375availibility Now
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Unit 405price $3,775square feet 1,375availibility Now
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Unit 505price $3,775square feet 1,375availibility Now
Fees and Policies
The fees listed below are community-provided and may exclude utilities or add-ons. All payments are made directly to the property and are non-refundable unless otherwise specified.
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One-Time Basics
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Due at Application
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Application Fee Per ApplicantCharged per resident.$50
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Due at Move-In
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Administrative FeeCharged per unit.$200
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Security Deposit - RefundableCharged per unit.$500
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Due at Application
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Dogs
Max of 2
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Cats
Max of 2
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Electric Vehicle Parking
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Parking FeeCharged per vehicle.$200 / mo
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Other
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Parking FeeCharged per vehicle.$150 / mo
CommentsAdditional Underground Parking: $225 Per MonthRead More Read Less -
Property Fee Disclaimer: Based on community-supplied data and independent market research. Subject to change without notice. May exclude fees for mandatory or optional services and usage-based utilities.
Details
Lease Options
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Short term lease
Property Information
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Built in 2025
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219 units/7 stories
Matterport 3D Tours
Select a unit to view pricing & availability
Matterport 3D Tour
About First & Banks
Find the ultimate home sanctuary in Rochester, MN. First & Banks offers spacious studio, 1, 2 and 3-bedroom apartments with sophisticated finishes and all-inclusive access to intentional on-site amenities. The property also features premium two-story walk-out units and seventh-floor penthouse units with upgraded finishes. The pet-friendly community is located three blocks from the Mayo Clinic and within walking distance to downtown. Enjoy park views and access to walking paths, tennis courts, a playground and a recently completed aquatics center. Unit features: elevated 9-foot ceilings, walk-in closets, in-home washer & dryer, upgraded painted cabinetry, open-concept living spaces and stainless steel appliance package. Select units have upgraded finishes and features. Community amenities: fitness & yoga studio, third-story amenity deck with grilling stations and spa, grab-and-go mini market, grand lobby with dedicated mail and package room, bike storage, community clubroom with kitchen and fireplace, multi-sports simulator, pool table, outdoor courtyard, exclusive seventh-floor amenity deck and clubroom and makers crafting room.
First & Banks is an apartment community located in Olmsted County and the 55902 ZIP Code. This area is served by the Rochester Public School District attendance zone.
Unique Features
- 24/7 Mini Mart
- Amenity Deck
- Bike Storage
- Club Level
- Clubroom
- Community Grilling Station
- Community Kitchen
- Complimentary Coffee/Espresso Bar
- Corner Unit
- Covered Parking (Heated)
- Crafting Room
- Interactive Sports Simulator
- Live/Work Walkout
- Park View
- Pet Friendly
- Pet Spa
- Pool Spa
- Pool Table
- River View
- Sky Lounge (Exclusive)
- Trash Chutes
- Walkout
- Yoga Studio
Community Amenities
Pool
Fitness Center
Elevator
Playground
- Package Service
- Controlled Access
- Pet Washing Station
- Elevator
- Business Center
- Lounge
- Disposal Chutes
- Fitness Center
- Spa
- Pool
- Playground
- Bicycle Storage
- Tennis Court
- Walking/Biking Trails
- Roof Terrace
- Courtyard
Apartment Features
Washer/Dryer
Dishwasher
High Speed Internet Access
Walk-In Closets
- High Speed Internet Access
- Washer/Dryer
- Fireplace
- Dishwasher
- Ice Maker
- Stainless Steel Appliances
- Kitchen
- Range
- Quartz Countertops
- Den
- Walk-In Closets
- Deck
Downtown Rochester is perched along the Zumbro River, a picture-perfect river lined with parks. Minnesota is home to one of the country's best park systems, and Rochester is no exception. The city contains more than 100 parks, many located in or near downtown. And with roughly 85 miles of paved trails, it's the ideal place for jogging and bike-riding. Downtown, you'll find Silver Lake Park, which includes boat ramps and a playground, Cooke Park, Kutzky Park, Plummer House Park, St Marys Park, and Soldiers Field Golf Course -- one of the city's many public golf courses.
While Downtown Rochester is best known for its prestigious Mayo Clinic, there's much more to the neighborhood. Residents enjoy shopping at the Rochester Downtown Farmers Market, enjoying an event at the Mayo Civic Center, spending time at the Rochester Art Center, and attending a wide variety of festivals and events.
Learn more about living in Downtown RochesterCompare neighborhood and city base rent averages by bedroom.
| Downtown Rochester | Rochester, MN | |
|---|---|---|
| Studio | $1,321 | $1,291 |
| 1 Bedroom | $1,621 | $1,449 |
| 2 Bedrooms | $2,356 | $1,710 |
| 3 Bedrooms | $3,157 | $2,018 |
- Package Service
- Controlled Access
- Pet Washing Station
- Elevator
- Business Center
- Lounge
- Disposal Chutes
- Roof Terrace
- Courtyard
- Fitness Center
- Spa
- Pool
- Playground
- Bicycle Storage
- Tennis Court
- Walking/Biking Trails
- 24/7 Mini Mart
- Amenity Deck
- Bike Storage
- Club Level
- Clubroom
- Community Grilling Station
- Community Kitchen
- Complimentary Coffee/Espresso Bar
- Corner Unit
- Covered Parking (Heated)
- Crafting Room
- Interactive Sports Simulator
- Live/Work Walkout
- Park View
- Pet Friendly
- Pet Spa
- Pool Spa
- Pool Table
- River View
- Sky Lounge (Exclusive)
- Trash Chutes
- Walkout
- Yoga Studio
- High Speed Internet Access
- Washer/Dryer
- Fireplace
- Dishwasher
- Ice Maker
- Stainless Steel Appliances
- Kitchen
- Range
- Quartz Countertops
- Den
- Walk-In Closets
- Deck
| Monday | 12am - 12am |
|---|---|
| Tuesday | 12am - 12am |
| Wednesday | 12am - 12am |
| Thursday | 12am - 12am |
| Friday | 12am - 12am |
| Saturday | 12am - 12am |
| Sunday | 12am - 12am |
| Colleges & Universities | Distance | ||
|---|---|---|---|
| Colleges & Universities | Distance | ||
| Walk: | 10 min | 0.5 mi |
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by GreatSchools.org © 2026. All rights reserved.
Scores provided by
What do Walkability, Transit, Drivability, and Bikeability mean?
Walkability measures the walking distance to day-to-day needs.
Transit measures access to public transportation.
Drivability measures congestion, parking availability, and access to major roads.
Bikeability measures the suitability for cycling.
How It Works
Traffic
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HowLoud What is a Sound Score Rating? A Sound Score Rating aggregates noise caused by vehicle traffic, airplane traffic and local sources. How It WorksFirst & Banks Photos
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First & Banks
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2BR, 2BA - 1,203SF
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2BR, 2BA - 1,203SF - Kitchen
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2BR, 2BA - 1,203SF - Living Room
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2BR, 2BA - 1,203SF - Primary Bedroom
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2BR, 2BA - 1,203SF - Primary Bathroom
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2BR, 2BA - 1,203SF - Second Bedroom
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2BR, 2BA - 1,203SF - Second Bathroom
Nearby Apartments
Within 50 Miles of First & Banks
First & Banks has units with in‑unit washers and dryers, making laundry day simple for residents.
Utilities are not included in rent. Residents should plan to set up and pay for all services separately.
Parking is available at First & Banks. Fees may apply depending on the type of parking offered. Contact this property for details.
First & Banks has studios to three-bedrooms with rent ranges from $1,625/mo. to $3,795/mo.
Yes, First & Banks welcomes pets. Breed restrictions, weight limits, and additional fees may apply. View this property's pet policy.
A good rule of thumb is to spend no more than 30% of your gross income on rent. Based on the lowest available rent of $1,625 for a studio, you would need to earn about $65,000 per year to qualify. Want to double-check your budget? Calculate how much rent you can afford with our Rent Affordability Calculator.
First & Banks is offering Discounts for eligible applicants, with rental rates starting at $1,625.
Yes! First & Banks offers 20 Matterport 3D Tours. Explore different floor plans and see unit level details, all without leaving home.
705 1st Ave SW
Rochester, MN 55902