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    Pelican Rapids, MN
    Residential Income

    Pelican Rapids, MN Residential Income Properties for Sale

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    Battle Lake, MN Lake Park, MN Detroit Lakes, MN Dent, MN Audubon, MN Vergas, MN Rothsay, MN Fergus Falls, MN
    Updated Three-Unit Property
    Updated: Aug 12
    Updated Three-Unit Property

    401 1st Ave Se, Pelican Rapids, MN 56572

    $298,500
    3,400 sqft
    Three‑unit triplex with updated interiors
    1,200‑square‑foot lower‑level unit with 2 bedrooms and 1 bathroom
    1,600‑square‑foot upper unit with 3 bedrooms and 1 bathroom
    600‑square‑foot upper efficiency‑style unit with 1 bedroom and 1 bathroom
    Near 10% cap rate
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    This listing looks promising.

    Here's a quick look at some key insights for

    401 1st Ave Se, Pelican Rapids, MN

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    • Est. Cap Rate

      8.8%
      Above avg (5.9%)

    • Est. NOI

      $26K
      Annual

    • Price @ 7% Cap

      $377K
      Above asking

    • Property Type

      Single Family Residence
      Built 1959
    View Property Analytics
    Based on your search, we've compiled 14 Potential Opportunities for your consideration. Besides 1 Active listings in Pelican Rapids, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 5 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Triplex Apartment Building with Private Entrances
    Triplex Apartment Building with Private Entrances

    155 SW 4th, Perham, MN 56573

    $334,900
    2,412 sqft 0.26 AC lot

    Three-unit apartment building with each unit having a private entrance and dedicated off-street parking in downtown Perham.

    View details
    Duplex With Detached Garage
    Duplex With Detached Garage

    822 W Maple Avenue, Fergus Falls, MN 56537

    $159,900
    1,447 sqft 0.22 AC lot

    Duplex with upper 3-bedroom unit and lower 2-bedroom unit, vinyl exterior, and a detached garage on a small lot.

    View details
    Duplex with 3-Season Front Porch
    Duplex with 3-Season Front Porch

    424 W Birch Avenue, Fergus Falls, MN 56537

    $189,900
    1,352 sqft 0.19 AC lot

    Duplex in Fergus Falls with two three-bedroom units, forced-air heat, vinyl siding, and driveway parking.

    View details
    Residential Income Property
    Residential Income Property

    155 SW 4th, Perham, MN 56573

    $334,900
    2,412 sqft

    Historic residential income property with Residential-Multi-Family zoning and natural gas hot water service.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Buildable Residential Lot
    Buildable Residential Lot

    202 4th Avenue NE, Pelican Rapids, MN 56572

    Contact for pricing
    0.23 AC lot

    Build on a 0.23-acre residential lot in Pelican Rapids’ Pinewood Estates development.

    View details
    Buildable Residential Lot in Development
    Buildable Residential Lot in Development

    209 4th Avenue NE, Pelican Rapids, MN 56572

    Contact for pricing
    0.23 AC lot

    Build your home on a 0.23-acre lot within the Pinewood Estates development in Pelican Rapids, MN.

    View details
    Buildable Residential Lot
    Buildable Residential Lot

    203 4th Avenue NE, Pelican Rapids, MN 56572

    Contact for pricing
    0.23 AC lot

    Buildable lot in a new Pelican Rapids subdivision, offering a straightforward site to plan a primary residence.

    View details
    Residential Lots by Pelican River
    Residential Lots by Pelican River

    River View Trail lot: 10 Block 2, Pelican Rapids, MN 56572

    $120,000
    2.30 AC lot

    Residential lots in exclusive development with river access and utilities.

    View details

    Off-Market Properties in Pelican Rapids, MN

    Consider similar Off-Market properties in Pelican Rapids, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    709 Broadway
    APARTMENT HOUSE (5+ UNITS)

    709 Broadway, Pelican Rapids, MN 56572-4159

    $230,000
    Estimated value
    1,223 sqft 0.51 AC lot
    View details
    24 5th Ave Nwz1
    MOBILE HOME PARK, TRAILER PARK

    24 5th Ave Nwz1, Pelican Rapids, MN 56572-4103

    $220,000
    Estimated value
    View details
    101 4th Ave Nwa1
    MOBILE HOME PARK, TRAILER PARK

    101 4th Ave Nwa1, Pelican Rapids, MN 56572-4016

    $235,000
    Estimated value
    View details
    400 2nd St Nwe1
    MOBILE HOME PARK, TRAILER PARK

    400 2nd St Nwe1, Pelican Rapids, MN 56572-4032

    $330,000
    Estimated value
    View details
    Pelican Rapids, MN 56572
    MOBILE HOME PARK, TRAILER PARK

    Pelican Rapids, MN 56572

    $265,000
    Estimated value
    0.11 AC lot
    View details

    Pelican Rapids, MN Residential Income Properties Market Trends and Statistics

    Explore 6 residential income properties for sale in Pelican Rapids, MN on our real estate platform. These investment opportunities span a total of 3,400 square feet of properties for sale, with an estimated market value of $298,500.

    Sale prices for residential income properties in Pelican Rapids, MN average $298,500 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 1
    Triplexes 1

    Demographics Overview

    Population 5,900
    Population Growth (5Y) +11.1%
    Median Household Income $83,631
    College Educated 38.4%

    Taxes & Financing

    Tax Rate (average for all types) 2.80%
    Property Tax per SF $22.30 per SF
    Tax Rate vs County Average 0.53 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Otter Tail County

    New Delisted

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