Excellent opportunity to own a versatile investment property situated along quaint Main Street in Downtown Elysian. This uniqueproperty offers the potential for several income-producing options, including a commercial space, two residential rental units, a shed/shop building and asmaller scale barn. The upper level (Unit A) of the main structure features a beautiful 2-bedroom, 1-bath apartment complete with in-unit laundry andprivate parking. Unit C has been fully renovated into an attractive office space complete with a half bath, laundry hookups, and its own private MainStreet entrance. Unit B is a executively polished 2-bedroom, 1.5-bath main level apartment. It boasts generous ceiling height, a large spacious livingarea and superior style kitchen. Additional highlights contain two spacious outbuildings, including a 20x48 metal building (with power and heat) and an18x35 barn with cold storage. This is not your average income generating property! Pairing all the charm and character that it offers with the fact that ithas been well maintained, you are sure to be proud to make it yours!
Active
Price cut: $5K (10/10)
$399,900
196 Main St W, Elysian, MN 56028
4beds
4,135sqft
Multi Family
Built in ----
-- sqft lot
$380,100 Zestimate®
$97/sqft
$-- HOA
What's special
Generous ceiling heightIn-unit laundryPrivate main street entranceTwo spacious outbuildingsSuperior style kitchenPrivate parking
- 60 days
- 227
- 9
Zillow last checked:
Listing updated:
Listed by:
MICHELLE STARKEY,
True Real Estate
Source: RASM,MLS#: 267041166
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 2
- 1/2 bathrooms: 1
- Main level bedrooms: 2
Heating
- Forced Air, Natural Gas
Appliances
- Included: Electric Water Heater
Features
- Has fireplace: No
Interior area
- Total structure area: 4,135
- Total interior livable area: 4,135 sqft
- Finished area above ground: 4,135
- Finished area below ground: 0
Property
Parking
- Parking features: Detached
- Has garage: Yes
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.5 Acres
- Dimensions: 22,000 sq ft
Details
- Foundation area: 2535
- Parcel number: 164100730
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame/Wood, Brick
- Foundation: Slab
Condition
- Previously Owned
- New construction: No
Utilities & green energy
- Sewer: City
- Water: Public
Community & HOA
Location
- Region: Elysian
Financial & listing details
- Price per square foot: $97/sqft
- Tax assessed value: $195,500
- Annual tax amount: $3,572
- Date on market: 8/11/2026
- Total actual rent: 3965
Estimated market value
$380,100
$361,000 - $399,000
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/10/2026 | Price change | $399,900-1.2%$97/sqft |
Source: | ||
| 8/11/2026 | Listed for sale | $404,900+153.1%$98/sqft |
Source: | ||
| 12/2/2019 | Sold | $160,000+10.3%$39/sqft |
Source: Public Record Report a problem | ||
| 3/17/2011 | Sold | $145,000$35/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,282 +6.1% | $195,500 +6.1% |
| 2024 | $3,092 +0.1% | $184,200 +1.5% |
| 2023 | $3,088 -3% | $181,400 +2.1% |
| 2022 | $3,184 +16.1% | $177,600 +0.2% |
| 2021 | $2,742 -0.4% | $177,200 +24.4% |
| 2020 | $2,752 +2.2% | $142,500 |
| 2019 | $2,692 -2.7% | $142,500 |
| 2018 | $2,767 +13.8% | $142,500 |
| 2017 | $2,432 +1.1% | $142,500 +25.3% |
| 2016 | $2,406 -32.8% | $113,700 -17.2% |
| 2015 | $3,580 +6.6% | $137,400 |
| 2014 | $3,358 +6.8% | $137,400 +9.1% |
| 2013 | $3,144 | $125,900 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 56028
Nearby schools
Schools provided by the listing agent
- District: Waterville-Elysian-Morristown #2143
Source: RASM. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.




