Welcome to this fantastic investment opportunity in the heart of Maple Lake — where small-town living meets convenience and community charm. This well-maintained triplex features three beautifully updated units, with the potential to add a fourth unit in the basement for even greater income potential.
Located in a desirable neighborhood close to local shopping, restaurants, parks, and schools, this property also puts you just minutes from all of the year-round festivities and community events that make Maple Lake such a special place to call home.
Each unit has been thoughtfully renovated to offer modern updates while still maintaining a warm and inviting feel. With strong rental demand in the area and flexible opportunities for investors or owner-occupants alike, this property is a rare chance to enjoy steady income potential in a welcoming small-town setting.
Active
Price cut: $14K (7/7)
$365,000
121 1st St W, Maple Lake, MN 55358
3beds
3baths
2,322sqft
Triplex
Built in 1920
-- sqft lot
$362,300 Zestimate®
$157/sqft
$-- HOA
What's special
Modern updatesWarm and inviting feelThree beautifully updated units
- 89 days |
- 178 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Stephanie Schumann 763-355-0801,
Kg Realty
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7072871
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
Heating
- Boiler
Appliances
- Laundry: In Basement, Common Area, Coin-op Laundry Owned
Features
- Basement: Block,Partially Finished,Shared Access
Interior area
- Total structure area: 3,794
- Total interior livable area: 2,322 sqft
- Finished area above ground: 2,322
- Finished area below ground: 0
Property
Parking
- Parking features: Shared Driveway
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: One and One Half
- Patio & porch: Deck, Patio
- Fencing: None
Lot
- Size: 2,962 Square Feet
- Dimensions: 48 x 58 x 47 x 61
Details
- Foundation area: 1472
- Parcel number: 110010007011
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Block, Frame
- Roof: Age 8 Years or Less,Asphalt
Condition
- New construction: No
- Year built: 1920
Utilities & green energy
- Electric: Circuit Breakers
- Gas: Electric, Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Original Maple Lake
HOA
- Amenities included: Laundry, Coin-op Laundry Owned
Location
- Region: Maple Lake
Financial & listing details
- Price per square foot: $157/sqft
- Tax assessed value: $254,500
- Annual tax amount: $3,960
- Date on market: 5/21/2026
- Tenant pays: Electricity
Estimated market value
$362,300
$344,000 - $380,000
$1,459/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/7/2026 | Price change | $365,000-3.7%$157/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #7072871 Report a problem | ||
| 6/9/2026 | Price change | $379,000-5%$163/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7072871 Report a problem | ||
| 5/21/2026 | Listed for sale | $399,000+49.2%$172/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7072871 Report a problem | ||
| 11/8/2024 | Sold | $267,500-2.7%$115/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6572408 Report a problem | ||
| 10/17/2024 | Pending sale | $275,000$118/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6572408 Report a problem | ||
| 9/28/2024 | Price change | $275,000-15.4%$118/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6572408 Report a problem | ||
| 9/5/2024 | Price change | $325,000-1.5%$140/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6572408 Report a problem | ||
| 7/29/2024 | Listed for sale | $330,000$142/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6572408 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,274 -7% | $254,500 -3.3% |
| 2024 | $4,596 +3.3% | $263,200 +1.2% |
| 2023 | $4,450 +26.6% | $260,200 +10.8% |
| 2022 | $3,515 +1.6% | $234,900 +20.5% |
| 2021 | $3,458 +3% | $194,900 +6.3% |
| 2020 | $3,358 -63% | $183,400 +3.8% |
| 2019 | $9,072 +170.2% | $176,700 +4.8% |
| 2018 | $3,358 +11.6% | $168,600 +11.6% |
| 2017 | $3,008 +16.2% | $151,100 |
| 2016 | $2,588 | -- |
| 2015 | $2,588 +6.5% | -- |
| 2014 | $2,430 -7.5% | -- |
| 2013 | $2,628 +2.3% | -- |
| 2012 | $2,568 -1% | -- |
| 2011 | $2,593 -0.9% | -- |
| 2010 | $2,617 +3.7% | -- |
| 2009 | $2,523 +11.4% | -- |
| 2008 | $2,265 +18.5% | -- |
| 2007 | $1,912 +12.3% | -- |
| 2006 | $1,702 +7.3% | -- |
| 2005 | $1,586 +10% | -- |
| 2004 | $1,442 +4.8% | -- |
| 2003 | $1,376 -5.6% | -- |
| 2002 | $1,458 -5.9% | -- |
| 2001 | $1,549 | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 55358
Nearby schools
GreatSchools rating
- 7/10Maple Lake Elementary SchoolGrades: PK-6Distance: 0.4 mi
- 9/10Maple Lake SecondaryGrades: 7-12Distance: 0.4 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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