For Sale: Pine River MLS# 7130852
Active
$327,900
Multi-family: Fourplex
6 br • 4 ba • Built 1972
2,508 sqft • 1.4 acres
Pine River-Backus schools
MLS# 7130852
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Property Description
INVESTMENT OPPORTUNITY WITH CURRENT RENTAL INCOME + ADDITIONAL POTENTIAL! Take a fresh look at 450 Murray Avenue in Pine River. Three occupied units currently generate seller-reported gross rents of $3, 250/month ($39, 000 annualized), while Unit 2 is vacant and not included in those income figures, offering additional potential for the next owner. Current rents are Unit 1: $1, 700/month, leased through August 2027; Unit 3: $700/month, month-to-month; and Unit 4: $850/month, month-to-month. The property also has an updated rental license and offers an established tenant base from day one. Features include 6 bedrooms, 4 bathrooms, approximately 2, 508 finished sq. ft., a spacious in-town lot, 2-stall garage, new deck, new kitchen flooring, remote-controlled ceiling fans, and more than $15, 000 in recent updates. Convenient Pine River location near downtown, Pine River-Backus Schools, the Paul Bunyan State Trail, and Norway Lake recreational access. Whether you're looking to expand an investment portfolio or step into your first income-producing property, this one deserves a closer look. Rental figures are seller-provided.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$327,900
Price per sq ft:
$131
Property Type:
Multi-family
City:
Pine River
Garage Spaces:
2
County:
Cass
Year Built:
1972
State:
MN
Property Style:
Fourplex
Zip Code:
56474
Interior
Bedrooms:
6
Bathrooms:
4
Finished Area:
2,508 ft2
Living Area:
2,508 ft2
Refrigerators:
Four
Basement Details:
- Block
- Egress Window(s)
- Finished
Exterior
Stories:
Modified Two Story
Garage Spaces:
2
Garage Dimensions:
24x22
Garage Size:
528 ft2
Foundation Size:
1 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Forced Air
Parking Features:
- Asphalt
- Attached Garage
Road Frontage:
City Street
Exterior Material:
- Block
- Frame
Pool:
None
Roof Details:
Asphalt
Rooms
Laundry:
Main Level
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
1.4
Geolocation:
46.725408, -94.405016
Lot Dimensions:
Irr x 326 x 200 x 270
Zoning:
Residential-Multi-Family
Lot Description:
- Irregular Lot
- Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
2174
District Phone:
2185874720
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
$600
Annual Insurance Expense:
$1,800
Annual Maintenance Expense:
None
Annual Trash Expense:
$420
Annual Water/Sewer Expense:
$1,656
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$4,214
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$4,280
Income
Annual Gross Income:
$45,000
Units
Total Units:
4
Miscellaneous
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Power Company Name:
Minnesota Power
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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.
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Listing provided by RMLS,
courtesy of eXp Realty.
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.