For Sale: Faribault MLS# 7162219
Active
$175,000
Multi-family: Duplex Up and Down
6 br • 3 ba • Built 1873
1,870 sqft • 0.25 acres
Faribault schools
MLS# 7162219
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Property Description
Excellent investment opportunity in a prime Faribault location! This up/down duplex features two 3-bedroom, 1-bathroom units and offers significant value-add potential for investors looking to build equity and increase cash flow. Roof is less than 2 years old. Whether you’re an owner-occupant looking to offset your mortgage or an investor seeking strong rental potential, this property delivers flexibility and value and offers a solid foundation for your investment goals. Situated in a convenient location with easy access to downtown, interstate 35W, shopping, dining, and everyday amenities.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$175,000
Price per sq ft:
$94
Property Type:
Multi-family
City:
Faribault
Garage Spaces:
0
County:
Rice
Year Built:
1873
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55021
Subdivision Name:
City/Faribault
Interior
Bedrooms:
6
Bathrooms:
3
Finished Area:
1,870 ft2
Living Area:
1,870 ft2
Refrigerators:
Two
Basement Details:
Unfinished
Exterior
Stories:
One and One Half
Garage Spaces:
0
Foundation Size:
944 ft2
Fencing:
Partial
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Gravel
Road Frontage:
County Road
Roof Details:
Age 8 Years or Less
Rooms
Laundry:
None
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.25
Geolocation:
44.297177, -93.27677
Lot Dimensions:
66 X 165
Lot Description:
Tree Coverage - Medium
Farm
Topography:
Level
Schools
School District:
656
District Phone:
5073336016
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$6,600
Annual Fuel Expense:
None
Annual Insurance Expense:
$3,000
Annual Maintenance Expense:
$1,850
Annual Trash Expense:
$1,320
Annual Water/Sewer Expense:
$720
Tenant Expenses:
Telephone
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$2,854
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,914
Income
Annual Gross Income:
$38,720
Rent
Annual Net Income:
$25,030
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 Edina Realty, Inc..
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.