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Barnesville, MN
3-Plex
Excellent opportunity in Barnesville! Whether you use this property as an investment or as your home, you will not be disappointed. Barnesville is a great community located between Minnesota Lakes Country and the metropolitan area of Fargo, ND/Moorhead, MN. With a population of about 2,200 people it has evolved greatly since its origins in the late 1800's.
According to the city's website, "Barnesville lies on the southeastern edge of the Red River Valley. It is just inside the boundary of what used to be Glacial Lake Agassiz, making the soil in this area a rich, black loam with clay subsoil. Just what businessmen, farmers and the railroad were looking for.
If there is one symbol of Barnesville's beginnings and growth, it would be the boxcar. In 1877, James J. Hill, the railroad tycoon who built the Great Northern Railroad, completed the first track to the city and our days of being a railroad town began.
At the same time, George I. Barnes, the city's namesake, moved his store, originally a boxcar near Downer, to a site just north of the present city limits. Two years later, yet another rail line reached Barnesville and George moved his store into the present city across the street from Barnesville High School."
Discover more about Barnesville and its schools at the following websites:
http://www.barnesvillemn.com/
http://www.barnesville.k12.mn.us/
The interesting thing about this property is that it is also located across the street from the High School. Don't worry though, it doesn't look anything like a boxcar!
The home consists of two-2 bedroom apartments and one-1 bedroom apartment. The two bedroom apartments are 610 and 660 square feet. The one bedroom apartment is about 425 square feet. Recent updates include a new furnace, water heater and exterior paint. The home has coin-operated laundry services and is set on a nice corner lot. A two stall attached garage also highlights this property.
The home is perfect for an owner occupied property where the other renters will help pay for the mortgage. Currently all units are rented. The property is also good if used strictly as an investment. The rents each month are $450 for the 2 bedrooms and $350 for the 1 bedroom. The total expenses each year are $3,455. The annual gross operating income with an 8% vacancy rate is $13,524. The seller will consider a partial contract for deed.
$ 105,000 
Details
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