Sold-co-op by mls member

$329,900

505 S Payne St, New Ulm, MN 56073

3beds

2,740sqft

Single Family Residence

Built in 1964

8,250 Square Feet Lot

$333,300 Zestimate^®

$120/sqft

$2,031 Estimated rent

Home value

$333,300

Estimated sales range

Not available

$2,031/mo

Zestimate^® history

Owner options

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$2,031/mo

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$2,037/mo

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$2,037/mo

Est. payment

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What's special

Modern luxuryTimeless charmMan cave paradiseHeated garageFully updated interior

This home is a true gem, completely renovated from top to bottom in the last two years—every square inch has been meticulously updated, both inside and out. No detail has been overlooked, making this a rare find that blends modern luxury with timeless charm. With 3 spacious bedrooms and a fully updated interior, this home offers the perfect balance of comfort and style. As a bonus this property also has a heated garage, which is far more than just a place to park your car—it’s a man cave paradise! Complete with its own half bathroom and kitchen, this unique space is perfect for entertaining, hobbies, or unwinding after a long day. All of this on top of location! Ideally located by schools, parks, walking trails and the recreation center. Don’t miss out on the opportunity to own a one-of-a-kind home that offers both luxury living, prime location and a dream workspace—all with everything brand new and ready for you to enjoy!

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 3
Full bathrooms: 2
3/4 bathrooms: 1
Main level bathrooms: 3
Main level bedrooms: 3

Bedroom

Level: Main
Area: 143
Dimensions: 11 x 13

Bedroom 1

Level: Main
Area: 135
Dimensions: 13.5 x 10

Bedroom 2

Level: Basement
Area: 137.06
Dimensions: 15.4 x 8.9

Dining room

Features: Breakfast Bar

Kitchen

Level: Main
Area: 144
Dimensions: 12 x 12

Living room

Level: Main
Area: 342
Dimensions: 19 x 18

Heating

Fireplace(s), Forced Air, Natural Gas

Cooling

Central Air

Appliances

Included: Dishwasher, Dryer, Range, Refrigerator, Washer, Gas Water Heater, Water Softener Rented

Features

Walk-In Closet(s)
Basement: Concrete,Full
Has fireplace: Yes
Fireplace features: Wood Burning

Interior area

Total structure area: 2,570
Total interior livable area: 2,740 sqft
Finished area above ground: 1,370
Finished area below ground: 1,200

Property

Parking

Total spaces: 3
Parking features: Detached
Garage spaces: 3

Features

Levels: One
Stories: 1

Lot

Size: 8,250 Square Feet
Dimensions: 50 x 165

Details

Foundation area: 1370
Parcel number: R001.002.176.13.130

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family Residence

Materials

Frame/Wood, Brick, Steel Siding
Roof: Asphalt

Condition

Previously Owned
New construction: No
Year built: 1964

Utilities & green energy

Sewer: City
Water: Public

Community & HOA

Location

Region: New Ulm

Financial & listing details

Price per square foot: $120/sqft
Tax assessed value: $333,600
Annual tax amount: $3,120
Date on market: 8/8/2025
Listing terms: Cash,Conventional,DVA,FHA

Price history

Date	Event	Price
8/7/2025	Sold	$329,900$120/sqft
Source: RASM #7036620 Report a problem
7/9/2025	Price change	$329,900-1.5%$120/sqft
Source: RASM #7036620 Report a problem
6/20/2025	Price change	$334,900-1.5%$122/sqft
Source: RASM #7036620 Report a problem
1/16/2025	Listed for sale	$339,900+119.3%$124/sqft
Source: RASM #7036620 Report a problem
2/26/2021	Sold	$155,000-3.1%$57/sqft
Source: Public Record Report a problem
1/4/2021	Listed for sale	$159,900+45.4%$58/sqft
Source: VALLEY PROPERTIES #7025987 Report a problem
10/20/2011	Sold	$110,000-8.3%$40/sqft
Source: Lake Superior Area Realtors as distributed by MLS GRID #1150036 Report a problem
7/24/2011	Price change	$119,900-4%$44/sqft
Source: Red Shoe LLC #127237 Report a problem
5/19/2011	Listed for sale	$124,900$46/sqft
Source: Red Shoe LLC #127237 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,412 +9.4%	$333,600 +29.5%
2024	$3,120 +1.4%	$257,700 +6.5%
2023	$3,076 +37.1%	$241,900 +14%
2022	$2,244 +4.8%	$212,200 +40.5%
2021	$2,142 +4.5%	$151,000 +3%
2020	$2,050 +4.9%	$146,600 +5.3%
2018	$1,954 +12.9%	$139,200 +12%
2017	$1,730 +13.8%	$124,300 +10.4%
2016	$1,520	$112,563
2015	--	--
2014	--	--
2013	--	--
2012	--	--
2011	--	--
2010	--	--