For Sale: Milaca MLS# 7036294
Active
NEW!
$360,000
Multi-family: Duplex Up and Down
5 br • 2 ba • Built 1920
2,076 sqft • 0.414 acres
MLS# 7036294
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Property Description
Welcome to this income-producing duplex in Milaca, MN- offering a great opportunity for both investors and owner-occupants. This up/down duplex features a 3-bedroom main-level unit and a 2-bedroom upper unit, generating $3, 000/month in rental income ($36, 000 annually) with leases in place through 2026, providing immediate and stable income. Recent updates in both units include painted cabinets, updated fixtures, and new lighting. See supplements for more updates/details. Roof replaced in 2022. The property also features separately metered utilities and a detached 3-stall garage with a separate electric meter (2024), offering added income potential or flexibility for owner use. Tenants pay for gas, electricity, lawn care, and snow removal, which helps keep operating expenses low. This is a great fit for those seeking a reliable investment, a house-hack opportunity, or a multi-family property.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$360,000
Price per sq ft:
$173
Property Type:
Multi-family
City:
Milaca
Garage Spaces:
3
County:
Mille Lacs
Year Built:
1920
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
56353
Subdivision Name:
Fifth Add To Milaca
Interior
Bedrooms:
5
Bathrooms:
2
Finished Area:
2,076 ft2
Living Area:
2,076 ft2
Refrigerators:
Two
Basement Details:
- Daylight/Lookout Windows
- Full
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
3
Garage Dimensions:
7x16
Garage Size:
728 ft2
Foundation Size:
1,351 ft2
Foundation Dimensions:
1
Handicap Accessible:
None
Heating System:
- Baseboard
- Boiler
- Hot Water
- Radiant
- Radiator
Parking Features:
- Asphalt
- Detached Garage
- Garage Door Opener
Shared Amenities:
None
Exterior Material:
- Block
- Concrete
- Frame
Roof Details:
- Age 8 Years or Less
- Asphalt
Rooms
Laundry:
None
Lot & Land
Acres:
0.414
Geolocation:
45.751334, -93.651758
Lot Dimensions:
122 x 148
Zoning:
- Residential-Multi-Family
- Residential-Single Family
Lot Description:
- Corner Lot
- Tree Coverage - Medium
Farm
Topography:
Level, Sloped
Schools
School District:
2335
District Phone:
3209827210
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,718
Annual Maintenance Expense:
$175
Annual Trash Expense:
$450
Annual Water/Sewer Expense:
$950
Tenant Expenses:
Electricity, Gas, Lawn Care, Snow Removal
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$3,434
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$3,434
Income
Annual Gross Income:
$36,000
Rent
Annual Net Income:
$28,561
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.