Welcome to your new home in Lake City, MN! The perfect opportunity for a first-time buyer ready to own a place to truly call home. This inviting 3-bedroom 1-story ranch with full basement offers the convenience of all three bedrooms on one level along with a functional, easy-flow layout. The main floor features beautiful hickory wood floors, ceramic, white painted trim and freshly paint for a warm, move-in-ready feel. Enjoy the comfort of an attached 1-car garage, plus a newer backyard shed that provides excellent additional storage for tools, toys, and seasonal items. The unfinished basement with two egress windows offers outstanding potential for future living space and equity growth - whether you envision a family room, extra bedrooms, or a home office. Located in a great neighborhood near Bluff View Elementary School and set on a spacious lot with room to relax or entertain, this home delivers affordability, flexibility, and room to grow. Be sure to check it out today!
Closed
$265,000
1016 W Elm St, Lake City, MN 55041
3beds
2,208sqft
Single Family
Built in 1972
0.26 Acres Lot
$268,200 Zestimate®
$120/sqft
$2,433 Estimated rent
Home value
$268,200
Estimated sales range
Not available
$2,433/mo
Zestimate® history
Owner options
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$2,433/mo
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$1,710/mo
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$1,710/mo
Est. payment
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Zillow last checked:
Listing updated:
Bought with:
5
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7030143
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 1
- 1/4 bathrooms: 1
Bedroom
- Level: Main
- Area: 147 Square Feet
- Dimensions: 14 x 10.5
Bedroom 2
- Level: Main
- Area: 120 Square Feet
- Dimensions: 10 x 12
Bedroom 3
- Level: Main
- Area: 95 Square Feet
- Dimensions: 10 x 9.5
Bedroom 4
- Level: Basement
- Area: 110 Square Feet
- Dimensions: 10 x 11
Bathroom
- Level: Main
- Area: 35 Square Feet
- Dimensions: 5 x 7
Dining room
- Level: Main
- Area: 72 Square Feet
- Dimensions: 8 x 9
Kitchen
- Level: Main
- Area: 100 Square Feet
- Dimensions: 10 x 10
Laundry
- Level: Basement
Living room
- Level: Main
- Area: 168 Square Feet
- Dimensions: 10.5 x 16
Heating
- Forced Air
Cooling
- Central Air
Appliances
- Included: Dishwasher, Disposal, Dryer, Range, Refrigerator, Washer, Water Softener Rented
- Laundry: In Basement
Features
- Basement: Block,Full,Unfinished
- Has fireplace: No
Interior area
- Total structure area: 2,208
- Total interior livable area: 2,208 sqft
- Finished area above ground: 1,104
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Attached, Concrete
- Attached garage spaces: 1
Accessibility
- Accessibility features: None
Features
- Levels: One
- Stories: 1
- Patio & porch: Porch
- Fencing: Chain Link,Partial
Lot
- Size: 0.26 Acres
- Dimensions: 75 x 150
Details
- Foundation area: 1104
- Parcel number: R220139900
- Zoning description: Residential-Single Family
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family
Materials
- Frame
- Roof: Age 8 Years or Less,Asphalt
Condition
- New construction: No
- Year built: 1972
Utilities & green energy
- Electric: Circuit Breakers, 100 Amp Service
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Tibesars 1st Add
HOA
- Has HOA: No
Location
- Region: Lake City
Financial & listing details
- Price per square foot: $120/sqft
- Tax assessed value: $218,500
- Annual tax amount: $2,540
- Date on market: 3/4/2026
Price history
| Date | Event | Price |
|---|---|---|
| 4/21/2026 | Sold | $265,000+6%$120/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #7030143 Report a problem | ||
| 3/9/2026 | Pending sale | $250,000$113/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7030143 Report a problem | ||
| 3/8/2026 | Listed for sale | $250,000+12.6%$113/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7030143 Report a problem | ||
| 10/31/2023 | Sold | $222,000+36.6%$101/sqft |
Source: Public Record Report a problem | ||
| 12/13/2019 | Sold | $162,500-3.8%$74/sqft |
Source: NorthstarMLS as distributed by MLS GRID #5317972 Report a problem | ||
| 10/29/2019 | Pending sale | $168,900$76/sqft |
Source: Meincke-Schurhammer Real Est #5317972 Report a problem | ||
| 10/4/2019 | Price change | $168,900-5.6%$76/sqft |
Source: Meincke-Schurhammer Real Est #5317972 Report a problem | ||
| 8/17/2019 | Price change | $179,000-1.9%$81/sqft |
Source: Owner Report a problem | ||
| 6/28/2019 | Price change | $182,500-2.7%$83/sqft |
Source: Owner Report a problem | ||
| 5/5/2019 | Price change | $187,500-4.3%$85/sqft |
Source: Owner Report a problem | ||
| 4/12/2019 | Listed for sale | $195,900+67.6%$89/sqft |
Source: Owner Report a problem | ||
| 6/29/2011 | Sold | $116,900+6.4%$53/sqft |
Source:  Lake Superior Area Realtors as distributed by MLS GRID #1149801 Report a problem | ||
| 6/3/2011 | Price change | $109,900-8%$50/sqft |
Source: Meincke-Schurhammer Real Estate, LLC #4026878 Report a problem | ||
| 5/21/2011 | Price change | $119,500-7%$54/sqft |
Source: Meincke-Schurhammer Real Estate, LLC #4026878 Report a problem | ||
| 2/27/2011 | Listed for sale | $128,500-6.2%$58/sqft |
Source: Meincke-Schurhammer Real Estate, LLC #4026878 Report a problem | ||
| 6/27/2008 | Sold | $137,000$62/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,430 +2.7% | $218,500 +5.3% |
| 2024 | $2,366 -12% | $207,600 +5.2% |
| 2023 | $2,688 +31.8% | $197,300 +29.5% |
| 2022 | $2,040 +14.5% | $152,400 |
| 2021 | $1,782 -9.7% | $152,400 +12.1% |
| 2020 | $1,974 +1.6% | $136,000 +7.8% |
| 2019 | $1,942 | $126,200 +4.6% |
| 2018 | $1,942 +4.1% | $120,600 -0.5% |
| 2017 | $1,866 -1.5% | $121,200 |
| 2016 | $1,894 | -- |
| 2015 | $1,894 +10.2% | -- |
| 2012 | $1,718 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
Find assessor info on the county website
Neighborhood: 55041
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Nearby schools
GreatSchools rating
- 5/10Bluff View Elementary SchoolGrades: PK-6Distance: 0.2 mi
- 7/10Lincoln SecondaryGrades: 7-12Distance: 0.5 mi
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Estimated market value
$268,200
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Estimated market value
$268,200
- Minnesota
- Wabasha County
- Lake City
- 55041
- 1016 W Elm St
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