Agent is Related to seller. This beautifully updated 5-bedroom, 2-bath home offers the perfect blend of comfort, style, and lakeside charm on the highly sought-after shores of Madison Lake. Nestled in a quaint, welcoming neighborhood, the home features fresh paint, new flooring, and newer windows that fill the space with natural light. A cozy gas fireplace creates a warm focal point in the inviting family room, while the thoughtfully decorated interior gives the home a fresh, move-in-ready feel. The attached two-stall garage adds convenience and functionality. Currently operating as a successful short-term vacation rental, this property offers excellent potential as a year-round residence, weekend getaway, or investment opportunity. Enjoy peaceful lakeside living with modern updates and timeless charm.
Sold-co-op by mls member
$575,000
46 Lake Ave, Madison Lake, MN 56063
5beds
2,184sqft
Single Family Residence
Built in 1992
0.39 Acres Lot
$577,200 Zestimate®
$263/sqft
$2,244 Estimated rent
Home value
$577,200
$543,000 - $612,000
$2,244/mo
Zestimate® history
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List your homeWhat's special
Attached two-stall garageNew flooringCozy gas fireplaceThoughtfully decorated interiorInviting family roomFresh paint
Zillow last checked:
Listing updated:
Listed by:
CHRISTINE THOMAS,
Lake Shores & More Realty
Bought with:
Shara Schmidt
Exp Realty
Source: RASM,MLS#: 7040267
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 5
Bedroom
- Level: Main
- Area: 131.3
- Dimensions: 10.1 x 13
Bedroom 1
- Level: Main
- Area: 97.76
- Dimensions: 10.4 x 9.4
Bedroom 2
- Level: Main
- Area: 99.84
- Dimensions: 10.4 x 9.6
Bedroom 3
- Level: Basement
Bedroom 4
- Level: Basement
Dining room
- Features: Informal Dining Room
- Level: Main
- Area: 92.3
- Dimensions: 13 x 7.1
Family room
- Level: Basement
- Area: 403
- Dimensions: 31 x 13
Kitchen
- Level: Main
- Area: 144.48
- Dimensions: 12.9 x 11.2
Living room
- Level: Main
- Area: 261.8
- Dimensions: 11.9 x 22
Heating
- Fireplace(s), Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Included: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer, Water Softener Owned
Features
- Natural Woodwork, Bath Description: Full Basement, Main Floor 3/4 Bath, Main Floor Bedrooms
- Basement: Egress Windows,Finished,Sump Pump,Block,Full
Interior area
- Total structure area: 1,936
- Total interior livable area: 2,184 sqft
- Finished area above ground: 1,092
- Finished area below ground: 844
Property
Parking
- Total spaces: 2
- Parking features: Concrete, Attached, Garage Door Opener
- Attached garage spaces: 2
Features
- Levels: One
- Stories: 1
- Patio & porch: Patio
- On waterfront: Yes
- Waterfront features: Lake Front
- Body of water: Madison
- Frontage type: Waterfront
Lot
- Size: 0.39 Acres
- Dimensions: 93 x 135 x 93 x 149
- Features: Accessible Shoreline, Few Trees, Paved
Details
- Foundation area: 1092
- Parcel number: R14.05.35.301.008
- Other equipment: Sump Pump
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch/Rambler (L)
- Property subtype: Single Family Residence
Materials
- Frame/Wood, Steel Siding
- Roof: Metal
Condition
- Year built: 1992
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: City
- Water: Public
Community & HOA
Community
- Security: Smoke Detector(s), Carbon Monoxide Detector(s)
Location
- Region: Madison Lake
Financial & listing details
- Price per square foot: $263/sqft
- Tax assessed value: $381,200
- Annual tax amount: $6,364
- Date on market: 6/8/2026
- Listing terms: Cash,Conventional,DVA
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 6/8/2026 | Sold | $575,000-4.2%$263/sqft |
Source:  RASM #7040267 Report a problem | ||
| 5/12/2026 | Listed for sale | $599,900+36.3%$275/sqft |
Source: RASM #7040267 Report a problem | ||
| 4/22/2024 | Sold | $440,000-2.2%$201/sqft |
Source: RASM #7034168 Report a problem | ||
| 1/29/2024 | Pending sale | $449,950$206/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6481656 Report a problem | ||
| 1/26/2024 | Listed for sale | $449,950+1399.8%$206/sqft |
Source: RASM #7034168 Report a problem | ||
| 8/18/1992 | Sold | $30,000$14/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,346 -1.5% | $381,200 +14.9% |
| 2024 | $4,412 +5% | $331,800 +1.2% |
| 2023 | $4,202 +7.7% | $327,900 +11.3% |
| 2022 | $3,902 +4.9% | $294,600 +10% |
| 2021 | $3,720 +8.9% | $267,700 +4.3% |
| 2020 | $3,416 | $256,600 |
| 2019 | $3,416 +1.6% | $256,600 +2.4% |
| 2018 | $3,362 +2.9% | $250,600 |
| 2017 | $3,266 +7.9% | $250,600 +3.8% |
| 2016 | $3,026 +10855.8% | $241,400 +1% |
| 2015 | $28 -99.1% | $239,100 +4% |
| 2014 | $3,012 | $229,900 |
| 2013 | -- | $229,900 +1.6% |
| 2012 | -- | $226,200 -1.4% |
| 2011 | -- | $229,500 -2.9% |
| 2010 | -- | $236,400 |
Find assessor info on the county website
Neighborhood: 56063
Nearby homes
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Nearby schools
GreatSchools rating
- 9/10Eagle Lake Elementary SchoolGrades: K-5Distance: 4.8 mi
- 6/10Prairie Winds Middle SchoolGrades: 6-8Distance: 8 mi
- 6/10Mankato East Senior High SchoolGrades: 9-12Distance: 8.2 mi
Schools provided by the listing agent
- District: Mankato #77
Source: RASM. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Minnesota
- Blue Earth County
- Madison Lake
- 56063
- 46 Lake Ave
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