Great investment opportunity priced at the 1% rule in great location. Close to downtown Faribault with quick access to I35 and highway 60. Two units are 2 bed/1 bath and two units are 1 bed/1 bath. Unit 2 was just remodeled and is leased through October 2024. The other three units have long term tenants that have never missed a payment and are on month-to-month leases. Units 1, 3, and 4 have rents well below market, so there's opportunity to next owner to add value. Property has tall ceilings and lots of character. Plenty of on site parking, as well as a garage and shed. Seller is seller's agent.
Closed
$263,000
416 8th St NW, Faribault, MN 55021
6beds
4baths
2,736sqft
Quadruplex
Built in 1900
-- sqft lot
$298,000 Zestimate®
$96/sqft
$1,693 Estimated rent
Home value
$298,000
$277,000 - $322,000
$1,693/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: May 06, 2025 at 05:15am
Listed by:
Connor Smith 952-250-5409,
Real Estate Masters, Ltd.
Bought with:
Jackson Dunnell
eXp Realty
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6457800
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Forced Air
Features
- Basement: Partial
Interior area
- Total structure area: 2,736
- Total interior livable area: 2,736 sqft
- Finished area above ground: 2,736
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Garage
- Garage spaces: 1
Accessibility
- Accessibility features: None
Features
- Levels: Two
Lot
- Size: 0.40 Acres
- Dimensions: 99 x 177
Details
- Foundation area: 1380
- Parcel number: 1830375041
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Stucco
- Foundation: Stone
Condition
- Age of Property: 125
- New construction: No
- Year built: 1900
Utilities & green energy
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & neighborhood
Location
- Region: Faribault
- Subdivision: Paquins 2nd Add
Price history
| Date | Event | Price |
|---|---|---|
| 2/15/2024 | Sold | $263,000-16.5%$96/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6457800 | ||
| 12/14/2023 | Pending sale | $315,000$115/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6457800 | ||
| 11/9/2023 | Listed for sale | $315,000+51.1%$115/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6457800 | ||
| 3/31/2022 | Sold | $208,450-3.5%$76/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6148039 | ||
| 2/16/2022 | Pending sale | $216,000$79/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6148039 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,806 +11.2% | $284,300 +11.6% |
| 2024 | $3,422 +6% | $254,800 +6.1% |
| 2023 | $3,228 -5.1% | $240,100 +9.7% |
Find assessor info on the county website
Neighborhood: 55021
Nearby schools
GreatSchools rating
- 6/10Lincoln Elementary SchoolGrades: K-5Distance: 0.7 mi
- 2/10Faribault Middle SchoolGrades: 6-8Distance: 2 mi
- 4/10Faribault Senior High SchoolGrades: 9-12Distance: 1 mi
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$298,000
2% more+ $5,960
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$303,960