311 N Prairie St Lake City, MN 55041
Estimated payment $1,747/month
About This Home
Welcome to this beautifully maintained and income-producing duplex in a convenient and charming location! With over 2,000 finished square feet on a spacious 9,000 sq ft lot, this versatile property offers flexible living and investment potential. Each unit is updated and move-in ready, with separate electric meters, shared gas and water/sewer service, and thoughtful upgrades throughout.
The main level (Snowdrop Apartment) features 3 bedrooms, 1 full bath, in-unit laundry, and beautifully refinished hardwood floors. The upper level (Marigold Apartment) includes 2 bedrooms, 1 3⁄4 baths, new carpet, fresh paint, updated light fixtures, and more. Both units are fully furnished and currently used as successful short-term rentals, generating over $33,500 in gross revenue in the past year.
Additional features include a new roof (2024), updated landscaping, closed off interior stairwell for privacy, and a cozy backyard firepit area—perfect for outdoor relaxation. Driveway has minor cosmetic needs, and three upper windows are due for replacement.
This home can be sold furnished and rental-ready, or unfurnished for owner occupancy or long-term tenants. Rental books and furnishings can be transferred or cleared prior to closing, depending on buyer preference.
If you like this property, be sure to check out our other listing at 314 N High St—these two are owned together and have a lot in common!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,904
Year Built
- Built in 1910
Lot Details
- Lot Dimensions are 60x150
Home Design
- Duplex
Interior Spaces
- 2,010 Sq Ft Home
- 2-Story Property
- Basement
- Stone or Rock in Basement
Bedrooms and Bathrooms
- 5 Bedrooms
- 2 Bathrooms
Utilities
- Boiler Heating System
- 100 Amp Service
- Cable TV Available
Community Details
- 2 Units
- Lake City Subdivision
Listing and Financial Details
- The owner pays for insurance, sewer
- Assessor Parcel Number R220067400
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,904 | $232,000 | $24,600 | $207,400 |
| 2024 | $3,008 | $219,200 | $24,600 | $194,600 |
| 2023 | $2,822 | $204,300 | $24,600 | $179,700 |
| 2022 | $1,888 | $207,200 | $24,600 | $182,600 |
| 2021 | $1,906 | $122,500 | $24,600 | $97,900 |
| 2020 | $1,650 | $122,300 | $33,800 | $88,500 |
| 2019 | $1,296 | $105,500 | $22,500 | $83,000 |
| 2018 | $1,068 | $80,500 | $22,500 | $58,000 |
| 2017 | $1,052 | $53,500 | $22,500 | $31,000 |
| 2016 | $1,138 | $0 | $0 | $0 |
| 2015 | $1,085 | $0 | $0 | $0 |
| 2012 | $2,304 | $0 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/12/2025 09/12/25 | Pending | -- | -- | -- |
| 08/05/2025 08/05/25 | Price Changed | $285,000 | -3.4% | $142 / Sq Ft |
| 06/04/2025 06/04/25 | Price Changed | $295,000 | -6.3% | $147 / Sq Ft |
| 04/24/2025 04/24/25 | For Sale | $315,000 | -- | $157 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $181,000 | Knight Barry Ttl United Llc | |
| Special Warranty Deed | $30,000 | None Available | |
| Warranty Deed | -- | None Available | |
| Deed | $181,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $144,000 | Commercial | |
| Previous Owner | $12,500 | Credit Line Revolving | |
| Previous Owner | $87,500 | New Conventional | |
| Previous Owner | $81,680 | Credit Line Revolving | |
| Previous Owner | $142,500 | Adjustable Rate Mortgage/ARM |
Source: NorthstarMLS
MLS Number: 6704473
APN: R-22.00674.00
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