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$320,000

5 Beds 2 Baths 2,076 SQFT 0.41 Acres
Type: Multi-Family

345 2nd Avenue SW
Milaca, MN 56353

MLS#: 7118423
Samantha Severson
Samantha Severson
The Real Estate Advantage
Realtor
Phone: 320.262.0483
Office: 320.264.9240
Presented by: RE/MAX Advantage Plus

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. With the upper lease in place through 2026 and the lower unit lease in place through mid June 2027, providing immediate and stable income. Recent updates in both units include painted cabinets, updated fixtures, and new lighting. Main level unit has access to laundry with a new washer/dryer. 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.


 

Interior Features

Bedrooms

Total Bedrooms5

Bathrooms

Total Baths2

Other Interior Features

Above Grade Finished Area2,076 sqft
BasementDaylight/Lookout Windows, Full, Unfinished
Basement (Y/N)Yes
Below Grade Finished Area0 sqft
Foundation Dimensions1
FuelNatural Gas
Garage Dimensions7x16
Garage Square Feet728
Laundry FeaturesNone

General

AccessibilityNone
Additional Parcels Y/NNo
Association AmenitiesNone
CityMilaca
Construction MaterialsBlock, Concrete, Frame
ContingencyNone
CountyMille Lacs
DirectionsMilaca - Hwy. 23 / 4th Street, go north on 2nd Ave SW - Home on right
ElectricCircuit Breakers, Fuses, Service - 60 Amp, 100 Amp Service
Electric Expense0
Fuel Expense0
Garage Spaces3
Gross Income38400
HeatingBaseboard, Boiler, Hot Water, Radiator, Radiant
High School DistrictMilaca
Insurance Expense2718
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2,076 sqft
Lot Size UnitsAcres
MaintenanceExpense175
Net Operating Income28561
New ConstructionNo
Number Of Units Total2
Operating Expense7439
OwnerPaysSewer, Trash Collection, Water
PostalCityMilaca
Property SubtypeDuplex Up and Down
Property TypeResidential Income
RoofAge 8 Years or Less, Asphalt
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameFifth Add To Milaca
Tax Annual Amount$3,434
Tax Year2026
Tenant PaysElectricity, Gas, Lawn Care, Snow Removal
TopographyLevel, Sloped
Trash Expense450
Water Sewer Expense950
Year Built1920
Zoning DescriptionResidential-Multi-Family, Residential-Single Family

Exterior

Building Area Total2,268 sqft
Foundation Area1,351 sqft
Lot Dimensions122x148
Lot FeaturesCorner Lot, Tree Coverage - Medium
Lot Size Area0 sqft
Parking FeaturesDetached Garage, Asphalt, Garage Door Opener
Water SourceCity Water/Connected
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
Middle School N/A
High School N/A

  

Similar Properties

$320,000

5 Beds 2 Baths 2,076 SQFT 0.41 Acres
Type: Multi-Family

345 2nd Avenue SW
Milaca, MN 56353

MLS#: 7118423
Samantha Severson
Samantha Severson
The Real Estate Advantage
Realtor
Phone: 320.262.0483
Office: 320.264.9240