NOT LISTED FOR SALE

503 W Summit Ave Fergus Falls, MN 56537

Estimated Value: $158,000 - $243,000

5 Beds
3 Baths
1,865 Sq Ft
$101/Sq Ft Est. Value

Last Sold October 31, 2022

Last sale price $142,500 $76 Per Sq Ft

Est. 32% increase in value since last sale

Current estimated payment $1,276/month

123 Days on Market

Highlights

  • No HOA
  • Living Room
  • Forced Air Heating System
  • 1 Car Attached Garage

About This Home

As of October 2022

Excellent opportunity real estate investors! Triplex in an excellent location close to downtown, schools and parks. Within the 3 untis-- 5 bedrooms, 3 bathrooms. All three units are occupied currently with long-term tenants. Steel siding, some newer windows, and a newer natural gas furnace, large storage shed in back by alley.

Last Agent to Sell the Property

Leslie Prischmann Flugstad

Century 21 Atwood Listed on: 06/03/2022

Century 21 Atwood

Last Buyer's Agent

Ryan Hanson

Keller Williams Realty Professionals

Keller Williams Realty Professionals

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,432

Year Built

  • Built in 1950

Lot Details

  • 10,454

Parking

  • 1 Car Attached Garage

Interior Spaces

  • 1.5-Story Property
  • Living Room
  • Range

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Full Bathrooms

Laundry

  • Dryer
  • Washer

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Stone or Rock in Basement
  • Basement Window Egress

Additional Features

  • Lot Dimensions are 75 x 142
  • Forced Air Heating System

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 71003990855000

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,432

Year Built

Built in 1950

Lot Details

0

Parking

1

Listing Details

  • Type: Residential
  • Property Subtype 1: Single Family Residence
  • Cooling System: None
  • Garage Spaces: 1
  • Accessibility Features: None
  • Water Source: City Water/Connected
  • Year Built: 1950
  • Above Grade Finished Sq Ft: 1346
  • Unit Levels: One and One Half
  • New Construction: No
  • FractionalOwnershipYN: No
  • Rental License?: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Basement: Egress Window(s), Full, Partially Finished, Stone/Rock
  • Appliances: Dryer, Electric Water Heater, Range, Refrigerator, Washer
  • Living Area: 1865
  • Fireplace: No
  • Below Grade Finished Sq Ft: 519
  • Basement YN: Yes
  • Dining Room Type: Living Room, Kitchen, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5

Beds/Baths

  • Full Bathrooms: 3
  • Total Bedrooms: 5

Exterior Features

  • Roof: Asphalt
  • ConstructionMaterialsDesc: Frame

Garage/Parking

  • Parking Features: Attached Garage
  • Garage Square Feet: 240

Utilities

  • Heating: Forced Air
  • Sewer: City Sewer/Connected
  • Fuel: Natural Gas

Condo/Co-op/Association

  • Association: No

Schools

  • Junior High Dist: Fergus Falls
  • SchoolDistrictNumber: 544
  • SchoolDistrictPhone: 218-998-0544

Lot Info

  • PropertyAttachedYN: No
  • Lot Size: 75 x 142
  • Land Lease: No
  • Additional Parcels: No
  • Zoning Description: Residential-Single Family
  • ResoLotSizeUnits: Acres
  • AssessmentPending: No
  • Yearly/Seasonal: Yearly

Building Info

  • Construction Materials: Steel Siding

Tax Info

  • Tax Year: 2022
  • Assessor Parcel Number: 71003990855000
  • Tax Annual Amount: 2432
  • TaxWithAssessments: 2432.0000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 12, 2021
Sold by
Kensinger Katherine M
Bought by
Larson Daniel
Current Estimated Value
$187,451

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,875
Outstanding Balance
$83,290
Interest Rate
2.7%
Mortgage Type
Construction
Estimated Equity
$119,170
Source: Public Records

Range of Values:

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Average Value
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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

Purchase History

Date Buyer Sale Price Title Company
Larson Daniel $122,500 West Ctrl Abstracting Co Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Larson Daniel $91,875
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/31/2022 10/31/22 Sold $142,500 -8.0% $76 / Sq Ft
10/04/2022 10/04/22 Pending -- -- --
07/19/2022 07/19/22 Price Changed $154,900 -3.1% $83 / Sq Ft
06/03/2022 06/03/22 For Sale $159,900 -- $86 / Sq Ft
Source: NorthstarMLS

Tax History Compared to Growth

Source: Public Records

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
2024 $2,982 $225,400 $18,500 $206,900
2023 $2,676 $168,400 $18,500 $149,900
2022 $2,432 $267,600 $0 $0
2021 $2,292 $168,400 $18,500 $149,900
2020 $2,270 $129,400 $16,700 $112,700
2019 $2,194 $118,800 $16,700 $102,100
2018 $1,958 $118,800 $16,700 $102,100
2017 $1,908 $108,600 $14,500 $94,100
2016 $1,796 $101,500 $14,500 $87,000
2015 $1,722 $0 $0 $0
2014 -- $100,300 $14,500 $85,800
Source: Public Records

Agents Affiliated with this Home

  • Leslie Prischmann Flugstad

    Seller's Agent in 2022

    Leslie Prischmann Flugstad

    Century 21 Atwood

    (218) 770-1227

    154 in this area

    222 Total Sales

    Section Image
  • Ryan Hanson

    Buyer's Agent in 2022

    Ryan Hanson

    Keller Williams Realty Professionals

    (855) 732-5744

    341 in this area

    652 Total Sales

    Section Image
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Map

Source: NorthstarMLS

MLS Number: 6204599

NorthstarMLS

APN: 71003990855000

Minnesota Otter Tail County Fergus Falls 56537

503 W Summit Ave, Fergus Falls, MN

This home is located at 503 W Summit Ave, Fergus Falls, MN 56537 since 03 June 2022 and is currently estimated at $188,561, approximately $101 per square foot. This property was built in 1950. 503 W Summit Ave is a home located in Otter Tail County with nearby schools including McKinley Elementary School, Adams Elementary School, and Cleveland Elementary School.

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