$280,000
SOLD JUN 12, 2025

108 Cleveland Ave W Underwood, MN 56586

8 Beds
4 Baths
3,456 Sq Ft
0.51 Acres

Recently Sold

$81 Per Sq Ft

2% Above List Price

42 Days on Market

About This Home

As of June 2025

This well-maintained investment property offers strong cash flow, minimal upkeep, and a proven rental history. A fantastic opportunity for first-time investors or a valuable addition to any portfolio, the building features four fully occupied 2-bedroom, 1-bath apartments.
Each unit includes a dedicated garage, with tenants covering electricity costs—including heat—for added efficiency. Additional amenities include a shared coin-operated laundry and expansive grounds for tenant enjoyment.
Ideally situated just one block from an excellent school, this property provides quiet small-town living with easy access to city conveniences. A short drive connects residents to shopping, employment, and entertainment options, making this a highly desirable rental location.

Last Agent to Sell the Property

Brian Tjaden

Trilogy Real Estate Listed on: 05/01/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,034

Year Built

  • Built in 1976

Lot Details

  • 0.51 Acre Lot
  • Lot Dimensions are 50x150

Parking

  • 4 Car Garage

Home Design

  • Quadruplex
  • Block Foundation
  • Asphalt Shingled Roof
  • Vinyl Construction Material

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Additional Features

  • Laundry Room
  • Baseboard Heating

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for common area maintenance, sewer, water
  • Assessor Parcel Number 80000990085000
  • $272 per year additional tax assessments

Community Details

Overview

  • 4 Units
  • Underwood Subdivision

Building Details

  • Electric Expense $480
  • Insurance Expense $3,178
  • Trash Expense $968
  • Water Sewer Expense $1,368
  • Operating Expense $5,686
  • Gross Income $31,200
  • Net Operating Income $22,336

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,034

Year Built

Built in 1976

Lot Details

0

Parking

4

Listing Details

  • Prop. Type: Residential
  • Lot Size Acres: 0.51
  • Lot Size: 50x150
  • Road Frontage Type: City Street
  • Subdivision Name: Underwood
  • Architectural Style: (MF) Four Plex
  • Year Built: 1976
  • General Property Information Zoning3: Residential-Multi-Family
  • General Property Information:Acres: 0.51
  • Location Tax and Other Information Tax Year2: 2025
  • Location Tax and Other Information Tax Amount: 2762.0
  • Location Tax and Other Information In Foreclosure: No
  • Location Tax and Other Information Lender Owned: No
  • General Property Information Year Built2: 1976
  • General Property Information Lot Dimensions: 50x150
  • General Property Information Below Grd Total SqFt: 1728.0
  • General Property Information Total Finished Sqft2: 3456.00
  • General Property Information Style2: (MF) Four Plex
  • Building Information Finished SqFt Above Ground: 1728
  • Building Information Finished SqFt Below Ground: 1728
  • Exterior:Vinyl2: Yes
  • Lease Details Land Leased: Not Applicable
  • Ownership Fractional Ownership3: No
  • Roof Asphalt Shingles: Yes
  • Unit Details Total Units: 4
  • Owner Pays:Water2: Yes
  • General Property Information Above Ground SqFt: 1728.0
  • Unit 1 Annual Rent: 7800.0
  • Income and Expenses Annual Electric Expense: 480.0
  • Income and Expenses Annual Gross Expenses: 5686.0
  • Income and Expenses Annual Insurance Expense: 3178.0
  • Income and Expenses Annual Trash Expense: 968.0
  • Income and Expenses Annual WaterSewer Expense: 1368.0
  • Income and Expenses Total Annual Expenses: 8864.0
  • Laundry Laundry Room: Yes
  • Owner Pays:Sewer2: Yes
  • Foundation Concrete Block2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Owner Pays: Common Area Maintenance, Sewer, Water
  • Accessibility Features: None
  • Total Bedrooms: 8

Exterior Features

  • Roof: Asphalt Shingles

Garage/Parking

  • Garage Spaces: 4.0

Utilities

  • Laundry Features: Laundry Room
  • Heating: Baseboard
  • Heating Yn: Yes
  • Sewer: City Sewer/Connected
  • Water Source: City Water/Connected
  • Heating:Baseboard: Yes

Fee Information

  • Trash Expense: 968.0

Lot Info

  • Lot Size Sq Ft: 22215.6
  • Parcel #: 80000990085000
  • Zoning: Residential-Multi-Family

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Number Of Units Total: 4
  • Electric Expense: 480.0
  • Annual Gross Income: 31200.0
  • Insurance Expense: 3178.0
  • Property Net Operating Income: 22336.0

Tax Info

  • Tax Annual Amount: 3034.0
  • Tax Other Annual Assessment Amount: 272.0

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2025 06/30/25 Off Market $280,000 -- --
06/12/2025 06/12/25 Sold $280,000 +1.8% $81 / Sq Ft
05/01/2025 05/01/25 For Sale $275,000 -- $80 / Sq Ft
Source: Fargo-Moorhead Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brian Tjaden

    Seller's Agent in 2025

    Brian Tjaden

    Trilogy Real Estate

    (612) 963-3810

    80 Total Sales

    Brian Tjaden
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Map

Source: Fargo-Moorhead Area Association of REALTORS®

MLS Number: 6713002

Minnesota Otter Tail County Underwood 56586

108 Cleveland Ave W, Underwood, MN

This home is located at 108 Cleveland Ave W, Underwood, MN 56586 and is currently priced at $280,000, approximately $81 per square foot. This property was built in 1976. 108 Cleveland Ave W is a home located in Otter Tail County with nearby schools including Underwood Elementary School and Underwood Secondary School.

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