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Pending:  Fergus Falls MLS# 6786573

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Pending
$110,000
/mo Edit
Multi-family:  Duplex Up and Down
Built 1913
1,574 sqft • 0.29 acres
Fergus Falls schools
MLS# 6786573
763-576-8286
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    Property Description

    Unlock the Potential of This Value-Add Investment Opportunity: Whether you're stepping into real estate for the first time or expanding your rental portfolio, this versatile 2-unit property offers strong ROI potential for those skilled in renovation, maintenance, and repair. With tenants already vacated, the building is primed for updates and ready for your vision. Currently configured as a 1BR/1BA main floor apartment and a 2BR/1BA upper floor apartment. with room to grow by adding a studio-style unit in the lower level. Think big and consider converting the structure back into a single-family home on a double-wide lot for a profitable flip. Priced to sell in AS-IS condition, this low-cost property is a strategic entry point into real estate investment. Bonus: the seller has already paid the special assessment for the recently completed street reconstruction, saving you upfront costs. With the right approach, this could be the cornerstone of your next successful venture.

    Listing

    Listing Status: Pending
    Contingency: None
    List Price: $110,000
    Price per sq ft: $70
    Property Type: Multi-family
    City: Fergus Falls
    Garage Spaces: 1
    County: Otter Tail
    Year Built: 1913
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 56537
    Subdivision Name: Mclanes Add

    Interior

    Finished Area: 1,574 ft2
    Living Area: 1,574 ft2
    Ranges: Two
    Refrigerators: Two
    Basement Details: Block

    Exterior

    Stories: Two
    Garage Spaces: 1
    Garage Dimensions: 24x14
    Garage Size: 336 ft2
    Foundation Size: 787 ft2
    Foundation Dimensions: 36x24
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Boiler
    Parking Features:
    • Gravel
    • Parking Lot
    Road Frontage: Paved Streets
    Exterior Material: Wood Siding
    Roof Details: Age Over 8 Years

    Lot & Land

    Acres: 0.29
    Geolocation: 46.282759, -96.083553
    Lot Dimensions: 90 x 142
    Zoning: Residential-Multi-Family

    Schools

    School District: 544
    District Phone: 218-998-0544

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: None
    Annual Maintenance Expense: None
    Annual Gross Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $1,787
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $1,872

    Income

    Annual Gross Income: None

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Trilogy Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.