311 N Prairie St, Lake City, MN 55041

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!