311 N Prairie Street Lake City, MN 55041

$315,000
Active
estimated monthly payment
2,010 Sq Ft  |  Duplex Up and Down  |  MLS # 6704473
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About The Listing

Welcome to this beautifully maintained and income-producing duplex in a convenient and charming location! With over 2,000 finished square feet on a spacious 9,000 sq ft lot, this versatile property offers flexible living and investment potential. Each unit is updated and move-in ready, with separate electric meters, shared gas and water/sewer service, and thoughtful upgrades throughout.

The main level (Snowdrop Apartment) features 3 bedrooms, 1 full bath, in-unit laundry, and beautifully refinished hardwood floors. The upper level (Marigold Apartment) includes 2 bedrooms, 1 ¾ baths, new carpet, fresh paint, updated light fixtures, and more. Both units are fully furnished and currently used as successful short-term rentals, generating over $33,500 in gross revenue in the past year.

Additional features include a new roof (2024), updated landscaping, closed off interior stairwell for privacy, and a cozy backyard firepit area—perfect for outdoor relaxation. Driveway has minor cosmetic needs, and three upper windows are due for replacement.

This home can be sold furnished and rental-ready, or unfurnished for owner occupancy or long-term tenants. Rental books and furnishings can be transferred or cleared prior to closing, depending on buyer preference.

If you like this property, be sure to check out our other listing at 314 N High St—these two are owned together and have a lot in common!


Listing courtesy of Amy Ranae Dills, Brick & Banister Real Estate
Purchase Price
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Property Details

Features

 
 
 
Property Type: Other
Status: Active
Contingency Type: None
Year Built: 1910
MLS #: 6704473
Square Feet: 2,010
Price Per Square Foot: $157
Garage Spaces: 2
Parking Description: Gravel
Sewer Description: City Sewer/Connected
Water: City Water/Connected
Heat Type: Boiler
Basement: Stone/Rock
Construction Description: Vinyl Siding
Roof Description: Age 8 Years or Less
Days On Market (Continuous): 18
Disability Features: None
Latest Update: 05/12/2025
List Date: 04/24/2025
Listing Agent ID: 506008655
Listing Office: Brick & Banister Real Estate
Listing Office ID: 26141
Data Source: NorthstarMLS - The Regional MLS of Minnesota
Lot Dimensions: 60x150
Lot Size: 0.21 Acres
Lot Features: Many Trees
School District: Lake City
Tax Year: 2025
Estimated Taxes: $2,904
Contingency Type: None
City: Lake City
Zip: 55041
County: Wabasha
Subdivision: Lake City
State: MN

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Listing last updated: 05/12/25

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