$94,900

501 1st St N Virginia, MN 55792

Estimated payment $604/month

Total Views 19,298
4 Beds
2 Baths
1,418 Sq Ft
$67 Price per Sq Ft

About This Home

Turnkey Duplex with Strong Cash Flow – 14.7% Cap Rate! This well-maintained property is a solid investment opportunity with excellent returns. The upper unit features a long-term tenant currently paying $860/month, with potential to increase rent for even greater cash flow. Both units are in good condition, offering clean, comfortable living spaces. The building includes a basement with storage and laundry facilities, and has proven to be very low maintenance over time. Similar 2-bedroom units in the area qualify for Section 8 rents of up to $1,100/month, providing additional income potential. A great addition to any investment portfolio!

Listing Agent

Kyle White

RE/MAX Advantage Plus Listed on: 03/25/2025

RE/MAX Advantage Plus

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,182

Year Built

  • Built in 1904

Home Design

  • Duplex

Interior Spaces

  • 1,418 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Basement

  • Partial Basement
  • Stone or Rock in Basement
  • Basement Storage

Additional Features

  • Porch
  • Lot Dimensions are 121x20x7x116x25
  • Boiler Heating System

Community Details

  • 2 Units
  • Virginia Subdivision

Listing and Financial Details

  • The owner pays for all utilities
  • Assessor Parcel Number 090001001780

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,182

Year Built

Built in 1904

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Subtype 1: Duplex Up and Down
  • Accessibility Features: None
  • Water Source: City Water/Connected
  • Association Amenities: Laundry
  • Year Built: 1904
  • Above Grade Finished Sq Ft: 1418
  • Water Sewer Expenses: 754
  • Unit Levels: Two
  • New Construction: No
  • FractionalOwnershipYN: No
  • Rental License?: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Partial, Stone/Rock, Storage Space
  • Living Area: 1418
  • Owner Pays: All Utilities
  • Basement YN: Yes
  • Appliances: Range
  • Total Rooms: 5
  • Appliances: Range
  • Total Rooms: 5

Beds/Baths

  • Total Bedrooms: 4

Exterior Features

  • Roof: Asphalt
  • PatioPorchType: Porch

Garage/Parking

  • Parking Features: Gravel, Parking Lot
  • Garage Square Feet: 0

Utilities

  • Heating: Boiler
  • Sewer: City Sewer/Connected
  • Electric: Circuit Breakers
  • Fuel: Natural Gas
  • Number of Ranges: Two

Schools

  • Junior High Dist: Virginia
  • SchoolDistrictNumber: 706
  • SchoolDistrictPhone: 218-742-3901

Lot Info

  • Lot Size: 121x20x7x116x25
  • Land Lease: No
  • Additional Parcels: No
  • ResoLotSizeUnits: Acres
  • AssessmentPending: No
  • Yearly/Seasonal: Yearly

Building Info

  • Construction Materials: Aluminum Siding
  • Units Total: 2

Rental Info

  • Expenses: 8534.0000

Tax Info

  • Tax Year: 2024
  • Assessor Parcel Number: 090001001780
  • Tax Annual Amount: 1182
  • TaxWithAssessments: 1182.0000

Multi Family

  • TenantPays: Cable TV
  • ElectricExpense: 2000
  • FuelExpense: 2000
  • Number Of Refrigerators: Two

Map

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
05/16/2025 05/16/25 Price Changed $94,900 -5.0% $67 / Sq Ft
04/02/2025 04/02/25 Price Changed $99,900 -9.2% $70 / Sq Ft
03/27/2025 03/27/25 For Sale $110,000 -- $78 / Sq Ft
Source: NorthstarMLS

Source: NorthstarMLS

MLS Number: 6690399

NorthstarMLS