If you’ve been dreaming of small town living with lake views and easy access to Mankato, this Madison Lake home is full of opportunity. Located within walking distance to Madison Lake, The Landing, and convenient local stores, you’ll love the charm of this community and the lifestyle it offers. Morning walks to the lake, dinner down the street, and a quick commute to Mankato make this location hard to beat. Inside, the home is ready for someone to bring their vision and build sweat equity. The main floor features a spacious living room, dining area, office, and kitchen with access to a concrete patio. You’ll also appreciate the convenience of main floor laundry with access to the back deck, where you can relax and take in views of Madison Lake overlooking the nearly half acre lot. A full bathroom completes the main level. Upstairs offers three bedrooms and another full bathroom, providing great separation of space. The basement houses the mechanicals and offers additional storage space. Outside, the almost half acre lot gives you room to garden, play, or simply enjoy the peaceful setting. A one stall detached garage adds extra storage and functionality. If you’re looking for an affordable way to get into a great location and make a home your own, this property is packed with potential and ready for its next chapter.
Sold-co-op by mls member
$175,000
509 Walnut Ave, Madison Lake, MN 56063
4beds
2,820sqft
Single Family Residence
Built in 1890
0.41 Acres Lot
$176,300 Zestimate®
$62/sqft
$2,087 Estimated rent
Home value
$176,300
$167,000 - $185,000
$2,087/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Angie VanEman Lynch,
American Way Realty
Bought with:
Drew Brudvig
Re/Max Dynamic Agents
Source: RASM,MLS#: 7040352
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Bedroom
- Level: Main
- Area: 144
- Dimensions: 12 x 12
Bedroom 1
- Level: Upper
- Area: 182
- Dimensions: 13 x 14
Bedroom 2
- Level: Upper
- Area: 135
- Dimensions: 9 x 15
Bedroom 3
- Description: Walk in closet
- Level: Upper
- Area: 210
- Dimensions: 14 x 15
Dining room
- Features: Formal Dining Room
- Level: Main
- Area: 208
- Dimensions: 16 x 13
Kitchen
- Level: Main
- Area: 195
- Dimensions: 13 x 15
Living room
- Level: Main
- Area: 210
- Dimensions: 15 x 14
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Included: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Features
- Bath Description: Main Floor Full Bath, Upper Level Bath
- Basement: Unfinished,Block,Full
Interior area
- Total structure area: 1,940
- Total interior livable area: 2,820 sqft
- Finished area above ground: 1,940
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Detached
- Garage spaces: 1
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck, Porch
- Body of water: Madison
Lot
- Size: 0.41 Acres
- Dimensions: 125 x 132
- Features: Few Trees
Details
- Foundation area: 880
- Parcel number: R14.05.34.403.002
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Block, Metal Siding
- Roof: Asphalt
Condition
- Previously Owned
- New construction: No
- Year built: 1890
Utilities & green energy
- Sewer: City
- Water: Public
Community & neighborhood
Location
- Region: Madison Lake
Other
Other facts
- Listing terms: Cash,Conventional,DVA,FHA,Rural Development
Price history
| Date | Event | Price |
|---|---|---|
| 7/9/2026 | Sold | $175,000-5.4%$62/sqft |
Source:  RASM #7040352 Report a problem | ||
| 5/21/2026 | Price change | $185,000-2.6%$66/sqft |
Source: RASM #7040352 Report a problem | ||
| 4/22/2026 | Price change | $189,900-2.6%$67/sqft |
Source: RASM #7039487 Report a problem | ||
| 3/26/2026 | Price change | $194,900-2.5%$69/sqft |
Source: RASM #7039487 Report a problem | ||
| 2/20/2026 | Listed for sale | $199,900-9.1%$71/sqft |
Source: RASM #7039487 Report a problem | ||
| 12/17/2025 | Listing removed | $219,900+2.3%$78/sqft |
Source: RASM #7038630 Report a problem | ||
| 10/6/2025 | Price change | $214,900-2.3%$76/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6788215 Report a problem | ||
| 9/16/2025 | Listed for sale | $219,900+87.1%$78/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6788215 Report a problem | ||
| 11/15/2016 | Listing removed | $117,500$42/sqft |
Source: WEICHERT REALTORS, COMMUNITY GROUP #7011552 Report a problem | ||
| 9/27/2016 | Price change | $117,500-2.1%$42/sqft |
Source: WEICHERT REALTORS, COMMUNITY GROUP #7011552 Report a problem | ||
| 9/13/2016 | Price change | $120,000-3.6%$43/sqft |
Source: WEICHERT REALTORS, COMMUNITY GROUP #7011552 Report a problem | ||
| 7/21/2016 | Price change | $124,500-2.4%$44/sqft |
Source: WEICHERT REALTORS, COMMUNITY GROUP #7011552 Report a problem | ||
| 6/8/2016 | Price change | $127,500-1.9%$45/sqft |
Source: Mankato - WEICHERT, REALTORS - Community Group #7011552 Report a problem | ||
| 5/11/2016 | Listed for sale | $130,000+5.7%$46/sqft |
Source: WEICHERT REALTORS, COMMUNITY GROUP #7011552 Report a problem | ||
| 10/16/2003 | Sold | $123,000$44/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,374 +0.7% | $172,976 -2.3% |
| 2024 | $2,358 +5.6% | $177,100 +5.5% |
| 2023 | $2,232 +36.1% | $167,900 +11.4% |
| 2022 | $1,640 +4.3% | $150,700 +16.4% |
| 2021 | $1,572 +13.7% | $129,500 +7.2% |
| 2020 | $1,382 | $120,800 |
| 2019 | $1,382 -2.9% | $120,800 -1.4% |
| 2018 | $1,424 +2.6% | $122,500 |
| 2017 | $1,388 +12.8% | $122,500 +6.2% |
| 2016 | $1,230 +11547.7% | $115,400 +1.5% |
| 2015 | $11 -99.2% | $113,700 +7.6% |
| 2014 | $1,284 | $105,700 |
| 2013 | -- | $105,700 -0.1% |
| 2012 | -- | $105,800 -7.8% |
| 2011 | -- | $114,700 -3.9% |
| 2010 | -- | $119,300 |
Find assessor info on the county website
Neighborhood: 56063
Nearby schools
GreatSchools rating
- 9/10Eagle Lake Elementary SchoolGrades: K-5Distance: 4.5 mi
- 6/10Prairie Winds Middle SchoolGrades: 6-8Distance: 7.6 mi
- 6/10Mankato East Senior High SchoolGrades: 9-12Distance: 7.9 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
- 509 Walnut Ave
Nearby cities
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