345 2nd Avenue SW, Milaca, MN 56353
MULTI_FAMILY - Milaca, MN
- Added:
- Mar 24, 2026
- Days on Market:
- 104
- Last Refresh:
- Jul 5 at 7:06 pm
Property Features for 345 2nd Avenue SW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 2, Basement, Bedroom 3
- Parking features
- Driveway, Open, Garage - Detached
- Exterior features
- Fiber Board
- Standard status
- Active
- APN
- 210460070
- Size
- 2,076 SF
- Lot size
- 0.41 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3434
Utilities
- Heating system
- Radiant, Hot Water(Heating), Oil, Other (Heating), Baseboard
Building Details
- Year built
- 1920
- Building materials
- Block, Concrete, Frame
- Roof type
- Shingle
Listing agent Samantha Severson License #40603177 (952) 226-7700
Listing office RE/MAX Advantage Plus 270 Elm St. E, Savage, MN (320) 264-9241
Listing date Mar 24, 2026
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Income‑producing up/down duplex with a 3‑bedroom main‑level unit and a 2‑bedroom upper unit
- Upper lease is in place through 2026 for immediate, stable rental income
- Recent updates in both units include painted cabinets, updated fixtures, and new lighting
- Roof was replaced in 2022
- Separately metered utilities; tenants pay for gas, electricity, lawn care, and snow removal
- Detached 3‑stall garage with a separate electric meter (2024)
Overview
The home sits on a lot size of 0.414 acres. Tenants handle gas, electricity, lawn care, and snow removal, supporting a straightforward operating expense structure.
For buyers, this property fits multiple strategies: an owner-occupant can move into the lower unit and offset housing costs with the leased upper unit, which is in place through 2026. Investors also benefit from the existing in-place lease and the added utility and garage configuration that can support flexible owner or tenant arrangements. Address: 345 2nd Avenue SW, Milaca, MN 56353.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.1k | $22.20 |
| − Vacancy | −$2.8k | −$1.33 |
| EGI | $43.3k | $20.87 |
| − OpEx | −$13.0k | −$6.26 |
| NOI | $30.3k | $14.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Milaca
- County
- Mille Lacs
- State
- Minnesota
- Longitude
- -93.651758
- Latitude
- 45.751334
