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229 Locke Street, Mankato, MN 56001

Mankato
Local realty services provided by:CENTURY 21 Atwood
229 Locke Street,Mankato, MN 56001
$250,000
  • - Beds
  • 2 Baths
  • 3,097 sq. ft.
  • Multi-family
  • Active
Listed by: rachael hansen-miller
Office: keller williams premier realty
MLS#:267040989
Source:MN_RASM

Price summary

  • Price:$250,000
  • Price per sq. ft.:$80.72

About this home

5 unrelated Rental license - Rare investment opportunity knocks! Attractive cap rate potential($2000-2500/month) at current list price. Tenants have paid all utilities in the past! Excellent opportunity for investors seeking immediate cash flow. Property offers tenant appeal, with its location to MSU/Bethany/Downtown Mankato, and a price point difficult to find in today’s multifamily market. Whether adding to an existing portfolio or entering multifamily investing for the first time, this property offers potential solid income, long-term appreciation potential, and demand in this area. Attractive price point,5 off street parking spots, central location, 4 Bedrooms, a large kitchen/dining/& living areas, as well as versatile occupancy options make this a property you won’t want to miss! Close in time for Fall Semester!!

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Home facts

  • Listing ID #:267040989
  • Added:31 day(s) ago
  • Updated:August 23, 2026 at 03:29 PM

Rooms and interior

  • Total bathrooms:2
  • Basement Description:Stone, Unfinished
  • Living area:3,097 sq. ft.

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Roof:Asphalt Shingles
  • Building area:3,097 sq. ft.
  • Lot area:0.19 Acres
  • Lot Features:Paved Streets
  • Architectural Style:Single Family Rental (L)
  • Construction Materials:Vinyl
  • Foundation Description:Frame/Wood
  • Levels:2 Story

Utilities

  • Water:City
  • Sewer:City Sewer

Finances and disclosures

  • Price:$250,000
  • Price per sq. ft.:$80.72
  • Tax amount:$2,704

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