NOT LISTED FOR SALE

200 1st St SW Wells, MN 56097

9 Beds
7 Baths
6,797 Sq Ft
8,276 Sq Ft Lot

Last Sold April 30, 2020

Last sale price $245,000 $36 Per Sq Ft

31 Days on Market

Highlights

  • Corner Lot
  • 3 Car Attached Garage
  • Water Softener is Owned
  • Porch
  • Landscaped
  • Forced Air Heating System

About This Home

As of April 2020

Well maintained and fully occupied rental property. Owners currently live in a unit and have taken great care of property and have long term reliable tenants. 7 units, 3 garages and paid laundry bring in nearly $40,000 year. Tenants pay all their own utilities. Nice big spacious units with full basement for additional storage and laundry. The main level currently owner occupied unit also has a large screen porch and is nearly 1500 sq ft. Space available to add an 8th unit as well. Property was once a church and has some unique stain glass windows and character. Many great improvements already done! Outstanding cap rate at 15%!

Last Agent to Sell the Property

Vonda Herding

Edina Realty Inc. Mankato License #0093573 Listed on: 02/17/2020

Edina Realty Inc. Mankato

Last Buyer's Agent

Non Member

Non-Member

Property Details

Home Type

  • Apartment

Lot Details

  • 8,276 Sq Ft Lot
  • Lot Dimensions are 140x60
  • Landscaped
  • Corner Lot
  • Few Trees

Parking

  • 3 Car Attached Garage
  • Driveway

Home Design

  • Frame Construction
  • Asphalt Shingled Roof
  • Wood Siding
  • Vinyl Siding

Interior Spaces

  • 6,797 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 7 Bathrooms

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction

Utilities

  • Forced Air Heating System
  • Baseboard Heating
  • Water Heater
  • Water Softener is Owned

Additional Features

  • Porch
  • Ground Level

Listing and Financial Details

  • Tenant pays for broadband, cable TV, electric, trash, water/sewer
  • The owner pays for janitorial, lawn, maint/repair, snow
  • Assessor Parcel Number 305860520

Community Details

Amenities

  • Community Deck or Porch
  • Coin Laundry
  • Community Storage Space

Additional Features

  • 7 Units
  • Gross Income $39,504

Property Details

Home Type

Apartment

Lot Details

0

Parking

3

Listing Details

  • Class: MULTI-FAMILY
  • Style: Apartment Building (L)
  • Assessment Balance: 419
  • Assessments: Yes
  • Construction: Previously Owned
  • Foundation Size: 5541
  • L V T Date: 02/19/2020
  • Mechanicals: Water Softner - Owned, Individual Water Heaters
  • Parcel Number: 305860520
  • Price Per Square Foot: 25.08
  • Rental License: Yes
  • Stories: 2 Story
  • Street Designation: Street
  • Taxes With Assessments: 3532
  • Estimated Number of Acres: 0.19
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 9
  • Total Bathrooms: 7
  • Basement Features: Partially Finished
  • Basement Material: Concrete Block
  • Basement Style: Full
  • Finished Above Grade Sq Ft: 6797
  • Total Square Footage: 9770
  • Below Grade Finished Sq Ft: 491

Exterior Features

  • Frontage Road: Curb/Gutters, City, Paved
  • Construction Type: Frame/Wood
  • Exterior: Vinyl, Wood
  • Roof: Asphalt Shingles
  • Exterior Amenities: Driveway - Concrete, Porch

Garage/Parking

  • Garage Type: Attached
  • Number Garage Spaces: 3

Utilities

  • Fuel: Natural Gas
  • Heat: Baseboard, Forced Air
  • Sewer: City
  • Water: City

Condo/Co-op/Association

  • Shared: Coin-op Laundry Owned, Porch, Storage

Schools

  • School District: United S. Central #2134

Lot Info

  • Lot/Land Description: Corner Lot, Landscaped, Tree Coverage - Light, Paved Streets
  • Estimated Lot Dimensions: 140x60

Rental Info

  • Owner Expense: Janitorial, Lawn, Maint/Repair, Snow
  • Tenant Expense: Broadband, Cable TV, Electric, Trash, Water/Sewer
  • Type of Tenancy: One Year Lease

Multi Family

  • Total Units Available: 7
  • Est Annual Gross Expense: 16672
  • Est Annual Gross Income: 39504

Range of Values:

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List Price
Sold Price
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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
04/30/2020 04/30/20 Sold $245,000 0.0% $36 / Sq Ft
03/19/2020 03/19/20 Pending -- -- --
02/20/2020 02/20/20 For Sale $245,000 0.0% $36 / Sq Ft
02/20/2020 02/20/20 Off Market $245,000 -- --
02/17/2020 02/17/20 For Sale $245,000 -- $36 / Sq Ft
Source: REALTOR® Association of Southern Minnesota

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Vonda Herding

    Seller's Agent in 2020

    Vonda Herding

    Edina Realty Inc. Mankato

    (507) 340-9168

    95 Total Sales

    Vonda Herding
    Section Image

  • N

    Buyer's Agent in 2020

    Non Member

    Non-Member

See All Agents

Map

Source: REALTOR® Association of Southern Minnesota

MLS Number: 7023252

REALTOR® Association of Southern Minnesota

Minnesota Faribault County Wells 56097

200 1st St SW, Wells, MN

This home is located at 200 1st St SW, Wells, MN 56097 since 17 February 2020. 200 1st St SW is a home located in Faribault County with nearby schools including United South Central Elementary School, United South Central High School, and Covenant Life School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

REALTOR® Association of Southern Minnesota IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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