Home › 345 2nd Avenue SW, Milaca, MN 56353 (MLS# 7036294)

345 2nd Avenue SW, Milaca, MN 56353 (MLS# 7036294)

$340,000
345 2nd Avenue SW
Milaca, MN 56353
MLS# 7036294
5 beds  |  2 baths  |  2268 sqft
345 2nd Avenue SW, Milaca, MN 56353
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Property Description
Welcome to this income-producing duplex in Milaca, MN- offering a great opportunity for both investors and owner-occupants. This up/down duplex features a 3-bedroom main-level unit and a 2-bedroom upper unit. With the upper lease in place through 2026 and the lower unit lease in place through mid June 2027, providing immediate and stable income. Recent updates in both units include painted cabinets, updated fixtures, and new lighting. Main level unit has access to laundry with a new washer/dryer. See supplements for more updates/details. Roof replaced in 2022. The property also features separately metered utilities and a detached 3-stall garage with a separate electric meter (2024), offering added income potential or flexibility for owner use. Tenants pay for gas, electricity, lawn care, and snow removal, which helps keep operating expenses low. This is a great fit for those seeking a reliable investment, a house-hack opportunity, or a multi-family property.

Details
Maps
Contract Information
Status: Active
Contingency: None
Current Price: 340000
Original List Price: 360000
ListPrice: 340000
List Date: 2026-03-24
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1920
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family, Residential-Single Famil
Bedrooms: 5
Baths Total: 2
Main Floor Total SqFt: 1351
Above Ground SqFt: 2268
Total SqFt: 2268
Foundation Size: 1351
Style: (MF) Duplex Up and Down
Total Finished Sqft: 2076.00
Garage Stalls: 3
Lot Dimensions: 122x148
Acres: 0.41
Assessment Pending: Yes
Location Tax and Other Information
House Number: 345
Street Name: 2nd
Street Suffix: Avenue
Street Direction Suffix: SW
Postal City: Milaca
County: Mille Lacs
State: MN
Zip Code: 56353
Complex/Dev/Subdivision: Fifth Add To Milaca
Assessments
Assessment Balance: 15
Tax With Assessments: 3434
Basement
Foundation Dimensions: 1
Building Information
Finished SqFt Above Ground: 2076
Income and Expenses
Annual Gross Expenses: 7439
Annual Gross Income: 38400
Annual Insurance Expense: 2718
Annual Maintenance Expense: 175
Annual Net Income: 28561
Annual Repair Expense: 175
Annual Trash Expense: 450
Annual Water/Sewer Expense: 950
Total Annual Expenses: 7439
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
DP Resource: Yes
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Garage Dimensions: 7x16
Garage Square Feet: 728
Public Survey Info
Range#: 27
Section#: 25
Township#: 38
Unit 1
Furnished?: No
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: Main Level
Unit Number: 1
Annual Rent: 22200
Finished SqFt: 1351
Full Baths: 1
Monthly Rent: 1850
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 4
Unit 2
Furnished?: No
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: 2nd Level
Unit Number: 2
Annual Rent: 13800
Finished SqFt: 725
Full Baths: 1
Monthly Expense: 1150
Monthly Rent: 1150
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 3
Unit Details
Total Units: 2
Property Features
Accessible: None
Amenities Shared: None
Basement: Full; Unfinished
Construction Materials: Block; Concrete; Frame
Construction Status: Previously Owned
Electric: 100 Amp Service; 60 Amp Service; Circuit Breakers; Fuses
Exterior: Fiber Board
Fuel: Natural Gas
Heating: Baseboard; Boiler; Hot Water; Radiant; Radiator
Internet Options: Cable; DSL; Fiber Optic
Laundry: None
Lock Box Type: Combo
Lot Description: Corner Lot; Tree Coverage - Medium
Owner Pays: Sewer; Trash Collection; Water
Parking Characteristics: Garage Door Opener
Roof: Age 8 Years or Less; Asphalt Shingles
Sellers Terms: Adj. Rate/Gr Payment; Cash; Conventional; Conventional Rehab; FHA; Special Funding; VA
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Electricity; Gas; Lawn; Snow Removal
Topography: Level; Sloped
Unit 1 Amenities: Porch
Unit 1 Appliances: Disposal; Range; Refrigerator
Unit 1 Special Search: Main Floor Bedroom; 3 BR on One Level
Unit 2 Amenities: Balcony; Porch
Unit 2 Appliances: Range; Refrigerator
Water: City Water/Connected

Listing Office: RE/MAX Advantage Plus

Last Updated: July - 08 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Friday 10th of July 2026 03:46 PM

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