Investment opportunity! Updated 3 unit Income property located just down from the pool in Pelican Rapids. A total of 3400 sq ft. of income. One 1200 sq.ft Unit downstairs(2 bed 1 bath), and two units upstairs, one being an efficiency, (1600sq. ft(3 bed 1 bath) & 600 sq. ft(1 bed 1 bath)). A near 10% cap rate makes this property a great addition to your investment portfolio. Motivated seller. Take a look before the snow flies!
Active
Price cut: $11.5K (10/15)
$278,000
401 1st Ave SE, Pelican Rapids, MN 56572
6beds
3baths
3,400sqft
Triplex
Built in 1959
-- sqft lot
$-- Zestimate®
$82/sqft
$-- HOA
What's special
Two units upstairs
- 71 days
- 174
- 9
Zillow last checked:
Listing updated:
Listed by:
Grant Briard 218-850-8212,
The Real Estate Company of Detroit Lakes
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7124909
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
Heating
- Baseboard, Forced Air
Appliances
- Laundry: In Garage
Features
- Basement: Block
Interior area
- Total structure area: 4,400
- Total interior livable area: 3,400 sqft
- Finished area above ground: 2,200
- Finished area below ground: 1,200
Property
Parking
- Total spaces: 2
- Parking features: Garage
- Garage spaces: 2
- Details: Garage Door Height (7), Garage Door Width (9)
Accessibility
- Accessibility features: None
Features
- Levels: One
- Patio & porch: Patio
Lot
- Size: 0.29 Acres
- Dimensions: 120 x 110
- Features: Corner Lot
Details
- Foundation area: 2200
- Parcel number: 76000990506001
- Zoning description: Residential-Single Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Roof: Architectural Shingle
Condition
- New construction: No
- Year built: 1959
Utilities & green energy
- Electric: Power Company: Ottertail Power
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Frazees 4th Add
HOA
- Amenities included: Laundry, Patio
Location
- Region: Pelican Rapids
Financial & listing details
- Price per square foot: $82/sqft
- Tax assessed value: $232,600
- Annual tax amount: $3,263
- Date on market: 8/12/2026
- Tenant pays: Electricity, Gas, Sewer, Water
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/15/2026 | Price change | $278,000-4%$82/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #7124909 Report a problem | ||
| 9/10/2026 | Price change | $289,500-3%$85/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7124909 Report a problem | ||
| 8/12/2026 | Listed for sale | $298,500+40.5%$88/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7124909 Report a problem | ||
| 2/17/2026 | Listing removed | $1,500 |
Source: Zillow Rentals Report a problem | ||
| 1/14/2026 | Listed for rent | $1,500 |
Source: Zillow Rentals Report a problem | ||
| 7/14/2023 | Sold | $212,500-2.3%$63/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6321000 Report a problem | ||
| 6/20/2023 | Pending sale | $217,500$64/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6321000 Report a problem | ||
| 1/6/2023 | Listed for sale | $217,500$64/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6321000 Report a problem | ||
| 1/5/2023 | Listing removed | -- |
Source: NorthstarMLS as distributed by MLS GRID #6140042 Report a problem | ||
| 6/14/2022 | Listed for sale | $217,500$64/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6140042 Report a problem | ||
| 5/9/2022 | Listing removed | -- |
Source:  MWMMLS #20-35345 Report a problem | ||
| 1/5/2022 | Listed for sale | $217,500+17.6%$64/sqft |
Source: MWMMLS #20-35345 Report a problem | ||
| 4/19/2021 | Sold | $185,000+0.5%$54/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6077874 Report a problem | ||
| 11/19/2020 | Price change | $184,000-0.5%$54/sqft |
Source: The Real Estate Company of Detroit Lakes #20-31937 Report a problem | ||
| 9/29/2020 | Listed for sale | $184,900+34.5%$54/sqft |
Source: The Real Estate Company of Detroit Lakes #20-31937 Report a problem | ||
| 1/29/2011 | Listing removed | $137,500$40/sqft |
Source: Jack Chivers Realty LLC #20-2181 Report a problem | ||
| 1/27/2011 | Listed for sale | $137,500$40/sqft |
Source: Jack Chivers Realty LLC #20-2181 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,335 +15.9% | $232,600 -2.8% |
| 2024 | $2,878 +6.5% | $239,400 +26.5% |
| 2023 | $2,702 +0.8% | $189,300 +23.3% |
| 2022 | $2,680 +7.9% | $153,500 |
| 2021 | $2,484 +0.1% | -- |
| 2020 | $2,482 +19.5% | $162,600 +14.9% |
| 2018 | $2,077 -8.3% | $141,500 +5.4% |
| 2017 | $2,266 +18.6% | $134,200 +7.2% |
| 2016 | $1,910 | $125,200 |
| 2015 | $1,910 +1.5% | -- |
| 2014 | $1,882 | $116,800 |
| 2013 | -- | -- |
| 2012 | -- | -- |
| 2011 | $1,460 -3.6% | -- |
| 2010 | $1,515 | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 56572
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