Closed

$280,000

503 Water St, Fairmont, MN 56031

3beds

1,968sqft

Single Family

Built in 1960

10,628 Square Feet Lot

$282,200 Zestimate^®

$142/sqft

$1,741 Estimated rent

Home value

$282,200

Estimated sales range

Not available

$1,741/mo

Zestimate^® history

Owner options

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$1,741/mo

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$1,741/mo

Rent Zestimate^®

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$1,857/mo

Est. payment

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$1,857/mo

Est. payment

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What's special

New lvp flooringTuck-under garageMulti-level split home

Move-in ready and packed with updates, this multi-level split home is one you won’t want to miss! The main floor features new LVP flooring, while the upper level offers new carpet throughout. The kitchen has been refreshed with newer countertops and fresh cabinet pulls along with appliances, creating a clean and updated feel. You’ll also appreciate the newer windows throughout most of the home, with the exception of the large living room picture window. All three bedrooms are conveniently located on the upper level along with a full bath. On the lower level, you’ll find a mudroom, a 3/4 bath, the basement has a large family room and an additional room that could easily become a 4th bedroom with the addition of an egress window. New LED lighting brightens the living room, and the garage space is a standout with both a tuck-under garage and an impressive 27x29 detached garage with electric in-floor heat.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2
Full bathrooms: 1
3/4 bathrooms: 1

Bedroom

Level: Upper
Area: 99 Square Feet
Dimensions: 9x11

Bedroom 2

Level: Upper
Area: 121 Square Feet
Dimensions: 11x11

Bedroom 3

Level: Upper
Area: 143 Square Feet
Dimensions: 11x13

Bathroom

Level: Upper
Area: 72 Square Feet
Dimensions: 8x9

Bathroom

Level: Lower
Area: 35 Square Feet
Dimensions: 5x7

Bonus room

Level: Lower
Area: 154 Square Feet
Dimensions: 14x11

Dining room

Level: Main
Area: 88 Square Feet
Dimensions: 11x8

Family room

Level: Lower
Area: 325 Square Feet
Dimensions: 25x13

Kitchen

Level: Main
Area: 143 Square Feet
Dimensions: 13x11

Laundry

Level: Lower
Area: 240 Square Feet
Dimensions: 12x20

Living room

Level: Main
Area: 325 Square Feet
Dimensions: 25x13

Heating

Boiler, Fireplace(s)

Cooling

Central Air

Appliances

Included: Dishwasher, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Wall Oven
Laundry: Electric Dryer Hookup, Lower Level, Laundry Room, Washer Hookup

Features

Basement: Block,Partially Finished,Storage Space
Number of fireplaces: 2
Fireplace features: Gas, Wood Burning

Interior area

Total structure area: 1,968
Total interior livable area: 1,968 sqft
Finished area above ground: 1,368
Finished area below ground: 525

Property

Parking

Total spaces: 3
Parking features: Detached Garage, Tuckunder Garage
Attached garage spaces: 3
Details: Garage Dimensions (27x29)

Accessibility

Accessibility features: None

Features

Levels: Three Level Split
Patio & porch: Patio
Fencing: Partial

Lot

Size: 10,628 Square Feet
Dimensions: .244
Features: Tree Coverage - Medium

Details

Additional structures: Storage Shed
Foundation area: 600
Parcel number: 231600050
Zoning description: Residential-Single Family

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family

Materials

Roof: Asphalt

Condition

New construction: No
Year built: 1960

Utilities & green energy

Electric: Circuit Breakers
Gas: Natural Gas
Sewer: City Sewer/Connected
Water: City Water/Connected

Community & HOA

Community

Subdivision: Krahmers

HOA

Has HOA: No

Location

Region: Fairmont

Financial & listing details

Price per square foot: $142/sqft
Tax assessed value: $213,600
Annual tax amount: $1,210
Date on market: 4/1/2026
Cumulative days on market: 47 days
Road surface type: Paved

Price history

Date	Event	Price
6/5/2026	Sold	$280,000-6.4%$142/sqft
Source: NorthstarMLS as distributed by MLS GRID #7047557 Report a problem
5/18/2026	Pending sale	$299,000$152/sqft
Source: NorthstarMLS as distributed by MLS GRID #7047557 Report a problem
4/1/2026	Listed for sale	$299,000+49.5%$152/sqft
Source: NorthstarMLS as distributed by MLS GRID #7047557 Report a problem
9/29/2021	Sold	$200,000+5.3%$102/sqft
Source: NorthstarMLS as distributed by MLS GRID #6070980 Report a problem
8/2/2021	Pending sale	$189,900$96/sqft
Source: NorthstarMLS as distributed by MLS GRID #6070980 Report a problem
7/27/2021	Listed for sale	$189,900$96/sqft
Source: NorthstarMLS as distributed by MLS GRID #6070980 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$1,210 -49.6%	$213,600 -9%
2024	$2,402 -8.1%	$234,800 +17.1%
2023	$2,614 +21.2%	$200,500 -1.2%
2022	$2,157 +13%	$203,000 +27%
2021	$1,908 -4.3%	$159,900 +4.6%
2020	$1,994 +16.2%	$152,800 +13.9%
2018	$1,716 +18.3%	$134,200 +30%
2017	$1,451 +13.4%	$103,200 +9.6%
2016	$1,279 +7.2%	$94,200 -2%
2015	$1,193 -5.5%	$96,100 +11.4%
2013	$1,263 +6%	$86,300 +0.9%
2012	$1,191	$85,500
2011	--	--
2010	--	$112,600