For Sale: Fairmont MLS# 7151086
Active
NEW!
$174,900
Multi-family: Triplex
3 br • 3 ba • Built 1940
1,680 sqft • 0.089 acres
Fairmont Area schools
MLS# 7151086
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Property Description
Your chance to own a cash-flowing triplex in Fairmont. This single-story income property is a practical way to get into rental investing, with three similarly sized units and sub-metered utilities that make leasing and expense tracking straightforward.
The building has seen meaningful updates and modernizations, including two recently rehabbed units, so you’re not buying a project from scratch. Come see it and decide if this is the right first (or next) investment. Call today to schedule a showing! One of the owners is a licensed real estate agent in the State of Minnesota.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$174,900
Price per sq ft:
$104
Property Type:
Multi-family
City:
Fairmont
Garage Spaces:
0
County:
Martin
Year Built:
1940
State:
MN
Property Style:
Triplex
Zip Code:
56031
Subdivision Name:
Gambles Ext
Interior
Bedrooms:
3
Bathrooms:
3
Finished Area:
1,680 ft2
Living Area:
1,680 ft2
Refrigerators:
Three
Basement Details:
- Block
- Full
Exterior
Stories:
One
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Foundation Size:
1,680 ft2
Foundation Dimensions:
28 x 60
Handicap Accessible:
Wheelchair Ramp(s)
Heating System:
Forced Air
Exterior Material:
Frame
Roof Details:
Flat
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.089
Geolocation:
43.657674, -94.457486
Lot Dimensions:
53 x 75
Zoning:
Residential-Single Family
Schools
School District:
2752
District Phone:
5072384234
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$2,400
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$2,097
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$2,304
Income
Annual Gross Income:
$28,113
Misc. Annual Income:
None
Rent
Annual Net Income:
$20,000
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
- City Sewer - In Street
- City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
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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!
Listing provided by RMLS,
courtesy of True Real Estate.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.