Date
Details
Price
Change
Source
8/12/2026
Listed
$298,500
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/15
$298,500
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1/15
Property Description
Investment opportunity! Updated 3 unit Income property located just down from the pool in Pelican Rapids. A total of 3600 sq ft. of income. One 1200 sq.ft Unit downstairs(2 bed 1 bath), and two units upstairs, one being an efficiency, (1600sq. ft(3 bed 1 bath) & 600 sq. ft(1 bed 1 bath)). A near 10% cap rate makes this property a great addition to your investment portfolio.
Full Property Details
Full Property Details for 401 1st Ave SE
General
- Price: $298,500
- Taxes: $3,263 (2026)
- Status: Active
- Type: Triplex
- Source: NorthStarMLS_RMLS
- MLS ID: 7124909
- Updated: 8/13/2026
- Added to Site: 16 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 3
Bedrooms
- Total Bedrooms: 6
Other Rooms
- Laundry: In Garage, In Garage
Additional Information
- Shared Amenities: Laundry, Patio
Exterior
- Porch/Patio/Deck: Patio
Parking
- Garage: Yes
- Garage Spaces: 2
Location
- County: Otter Tail
- Township: Pelican Rapids
- Subdivision: Frazees 4th Add
- Driving Directions: Kitty corner from the pool and across the road from the church off of Hwy 108
School Information
- School District: 548 - Pelican Rapids
- High School District: Pelican Rapids
Heating & Cooling
- Heating Type: Baseboard, Forced Air
- Heating Fuel: Natural Gas
Utilities
- Sewer: City Sewer Connected
- Water: City Water (Connected)
Structural Information
- Basement: Yes
- Basement Desc.: Block
- Foundation Size: 2200
- Roof: Architectural Shingle
- Disability Access: None
- Square Feet: 3,400
- Below Ground: 2,200 Sq. Ft.
- Finished Down/Base.: 2,200 Sq. Ft.
- Year Built: 1959
Unit Information
- Units w/Refrigerators: 3
Lot Features
- Lot Size (Acres): 0.287
- Lot Dimensions: 120 x 110
- Zoning: Residential-Single Family
- Lot Description: Corner Lot
Financial Considerations
- Operating Expenses: $7,950
- Tax Amount: $3,263
- Tax Year: 2026
- Terms: Conventional, Cash
- Owner Pays: Grounds Care, Snow Removal, Trash Collection
- Tenant Pays: Electricity, Gas, Sewer, Water
- Pays Electric: Tenant Pays
- Pays Gas: Tenant Pays
- Pays Trash: Owner Pays
- Pays Water: Tenant Pays
Disclosures and Reports
- Legal Description: SECT-27 TWP-136 RANGE-043 FRAZEE'S 4TH ADDN LOTS 1, 2 & WLY 5' OF 3 BLK 2 & ELY 8' VAC ST ADJ.
- Property ID: 76000990506001
Listed by The Real Estate Company of Detroit Lakes
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Listing agent
— 401 1st Ave SE —
The Real Estate Company of Detroit Lakes
NMLS#: 1598647
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Schools
Schools serving 401 1st Ave SE
School District:Pelican Rapids Public School District
| Name | Grades | Distance |
|---|---|---|
Viking Elementary School, Pelican Rapids, MN 1 Viking Trail, Pelican Rapids, MN 56572 | PK-6 | 0.4 mi |
Pelican Rapids Secondary 310 South Broadway, Pelican Rapids, MN 56572 | 7-12 | 0.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 401 1st Ave SE
Tax History
Tax History for 401 1st Ave SE
Year
Property Taxes
Change
Tax Assessment
Change
2026
$3,348
-2%
$237,500
2%
2025
$3,420
23%
$232,600
-3%
2023
$2,782
—
$239,400
26%
2023
$2,782
4%
$189,300
16%
2022
$2,680
5%
$162,600
4%
2020
$2,552
13%
$155,800
10%
2019
$2,266
6%
$141,500
5%
2018
$2,132
3%
$134,200
2%
2017
$2,078
9%
$132,200
6%
2016
$1,910
1%
$125,200
3%
2015
$1,882
6%
$121,900
4%
2014
$1,774
—
$116,800
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 401 1st Ave SE
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Sold by RE/MAX Advantage Plus
401 1st Avenue SE, Pelican Rapids, MN 56572 (MLS# 7124909) is a Triplex property with 6 bedrooms and 0 full bathrooms. 401 1st Avenue SE is currently listed for $298,500 and was received on August 12, 2026. Want to learn more about 401 1st Avenue SE? Do you have questions about finding other Triplex real estate for sale in Pelican Rapids? You can browse all Pelican Rapids real estate or contact a Coldwell Banker agent to request more information.