Excellent investment opportunity priced to meet the 1% rule in a highly convenient location just minutes from downtown Faribault, with quick access to I-35 and Highway 60. This property is now a fixer-upper with strong value-add potential. The building features four units: two 2-bed/1-bath units and two 1-bed/1-bath units, with only 2 units currently rented. Rents are below market, offering significant upside for a new owner willing to renovate and stabilize the property. With tall ceilings and plenty of character throughout, this property has great bones and long-term potential. Additional amenities include ample on-site parking, a garage, and a storage shed. The price has been discounted to reflect the condition, giving the next owner an excellent opportunity to create instant equity through improvements and increased rental income.
Closed
$250,000
416 8th St NW, Faribault, MN 55021
6beds
4baths
2,736sqft
Fourplex
Built in 1900
-- sqft lot
$250,100 Zestimate®
$91/sqft
$1,617 Estimated rent
Home value
$250,100
$238,000 - $263,000
$1,617/mo
Zestimate® history
Owner options
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$1,691/mo
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List your homeWhat's special
Storage shedPlenty of character throughoutTall ceilingsAmple on-site parking
Zillow last checked:
Listing updated:
Listed by:
Thomas Schiffler 320-980-1414,
Premier Real Estate Services
Bought with:
Thomas Schiffler
Premier Real Estate Services
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6825777
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Forced Air
Features
- Basement: Partial
Interior area
- Total structure area: 2,736
- Total interior livable area: 2,736 sqft
- Finished area above ground: 2,736
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Garage
- Garage spaces: 1
- Details: Garage Dimensions (12x21.5)
Accessibility
- Accessibility features: None
Features
- Levels: Two
Lot
- Size: 0.40 Acres
- Dimensions: 99 x 177
Details
- Foundation area: 1380
- Parcel number: 1830375041
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Fourplex
Materials
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & neighborhood
Location
- Region: Faribault
- Subdivision: Paquins 2nd Add
Price history
| Date | Event | Price |
|---|---|---|
| 5/5/2026 | Sold | $250,000-3.8%$91/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6825777 Report a problem | ||
| 3/28/2026 | Pending sale | $259,900$95/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6825777 Report a problem | ||
| 3/24/2026 | Price change | $259,900-18.8%$95/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6825777 Report a problem | ||
| 12/17/2025 | Listed for sale | $319,900+21.6%$117/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6825777 Report a problem | ||
| 2/15/2024 | Sold | $263,000-16.5%$96/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6457800 Report a problem | ||
| 12/14/2023 | Pending sale | $315,000$115/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6457800 Report a problem | ||
| 11/9/2023 | Listed for sale | $315,000+51.1%$115/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6457800 Report a problem | ||
| 3/31/2022 | Sold | $208,450-3.5%$76/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6148039 Report a problem | ||
| 2/16/2022 | Pending sale | $216,000$79/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6148039 Report a problem | ||
| 2/3/2022 | Listed for sale | $216,000+170%$79/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6148039 Report a problem | ||
| 5/16/2013 | Sold | $80,000-56.9%$29/sqft |
Source: Public Record Report a problem | ||
| 3/26/2002 | Sold | $185,400$68/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,806 +11.2% | $284,300 +11.6% |
| 2024 | $3,422 +6% | $254,800 +6.1% |
| 2023 | $3,228 -5.1% | $240,100 +9.7% |
| 2022 | $3,402 +4% | $218,800 +1.9% |
| 2021 | $3,272 +8.6% | $214,700 +4.9% |
| 2020 | $3,012 | $204,600 +6.5% |
| 2019 | $3,012 +5.5% | $192,100 +7.6% |
| 2018 | $2,854 -18.1% | $178,600 +5.6% |
| 2017 | $3,486 +2.5% | $169,200 +9.2% |
| 2016 | $3,400 | $154,900 +2.6% |
| 2015 | $3,400 +0.1% | $151,000 -3.1% |
| 2014 | $3,396 -6.5% | $155,900 |
| 2013 | $3,632 -2.7% | -- |
| 2012 | $3,734 | -- |
| 2011 | $3,734 +9.1% | -- |
| 2010 | $3,424 -5.1% | -- |
| 2009 | $3,608 +76% | -- |
| 2008 | $2,050 +58.2% | -- |
| 2004 | $1,296 +8.7% | -- |
| 2003 | $1,192 +5.9% | -- |
| 2002 | $1,126 -31.1% | -- |
| 2001 | $1,634 | -- |
Find assessor info on the county website
Neighborhood: 55021
Nearby schools
GreatSchools rating
- 6/10Lincoln Elementary SchoolGrades: K-5Distance: 0.7 mi
- 2/10Faribault Middle SchoolGrades: 6-8Distance: 2 mi
- 4/10Faribault Senior High SchoolGrades: 9-12Distance: 1 mi
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Estimated market value
$250,100
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Estimated market value
$250,100
- Minnesota
- Rice County
- Faribault
- 55021
- 416 8th St NW
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