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    1227 Stephen St Thief River Falls, MN 56701

    Sponsored
    For Sale
    $625,000

    29-Unit Manufactured Home Park, MN

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional investment opportunity in Thief River Falls, Minnesota, presents a well-established 29-unit manufactured home park situated on a parcel of land at 1227 Stephen Street, zip code 56701. The property, built in 1982, offers a diverse range of two and three-bedroom units, each featuring one or two bathrooms. All units are currently occupied on a largely full-time basis, reflecting a strong rental history. The park has been under the same ownership for the past decade, demonstrating consistent occupancy and management. Each unit includes outdoor parking for two vehicles. A park manager oversees the property, ensuring smooth operations and tenant management. A rigorous application process, including background and credit checks, is in place for all potential residents. The sale includes all 29 units "as is." The property is offered at an asking price of $625,000. Please allow ample time for scheduling appointments to accommodate current residents. Exterior photos are available upon request. This is a turnkey opportunity for investors seeking immediate income generation in a stable rental market. The property's location in Pennington County provides convenient access to local amenities and services.

    Property Features for 1227 Stephen St

    General Information

    Property type
    Land

    Building Details

    Year Built
    1982

    HighLights

    • $625,000 asking price.
    • Land property in Thief River Falls, MN.
    • Commercial land, 0 sq ft lot size.
    • Built in 1982.
    • Includes 29 manufactured home units on leased land; units are 2‑3 bedrooms, 1‑2 baths, sold "as is".
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thief River Falls
    County
    Pennington
    State
    Minnesota
    Longitude
    -96.2014852
    Latitude
    48.1149851

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    FAQs

    What type of property is this?
    Land - 29-Unit Manufactured Home Park, MN
    Where is this land located?
    The property is located at 1227 Stephen St Thief River Falls, MN.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: $625,000 asking price.; Land property in Thief River Falls, MN.; Commercial land, 0 sq ft lot size.
    Request Owner's contact information
    1227 Stephen St Thief River Falls, MN 56701
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1227 Stephen St Thief River Falls, MN 56701
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