345 2nd Avenue SW Milaca, MN $ 320,000
345 2nd Avenue SW
$ 320,000
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345 2nd Avenue SW

Milaca, MN, 56353
$ 320,000
Bedrooms5 Baths2.0 Sq 2,076

Monthly Estimate*

$ 2,210

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Multi-Family Home for sale in Milaca, MN

for $320,000 with 5 bedrooms and 2 full baths. This 2,076 square foot home was built in 1920 on a lot size of 0.414.

Welcome to this income-producing duplex in Milaca, MN- offering a great opportunity for both investors and owner-occupants. This up/down duplex features a 3-bedroom main-level unit and a 2-bedroom upper unit. With the upper lease in place through 2026 and the lower unit lease in place through mid June 2027, providing immediate and stable income. Recent updates in both units include painted cabinets, updated fixtures, and new lighting. Main level unit has access to laundry with a new washer/dryer. See supplements for more updates/details. Roof replaced in 2022. The property also features separately metered utilities and a detached 3-stall garage with a separate electric meter (2024), offering added income potential or flexibility for owner use. Tenants pay for gas, electricity, lawn care, and snow removal, which helps keep operating expenses low. This is a great fit for those seeking a reliable investment, a house-hack opportunity, or a multi-family property.

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Multi-Family Active

Price

$ 320,000

Bedrooms

5

Full Bath

2

Property Type

Multi-Family

Taxes

$ 3,434

Style

Duplex Up and Down

Lot Size

0.414

Year Built

1920

Town/City

Milaca

County/Region

Mille Lacs

MLS | Web ID

7118423

Features
General
Living Area 2076
Sewer City Sewer/Connected
Heating Baseboard Boiler Hot Water Radiator Radiant
Roof Age 8 Years or Less Asphalt
Garage Spaces 3
Construction Materials Block Concrete Frame
Year Built 1920
Electric Circuit Breakers Fuses Service - 60 Amp 100 Amp Service
Tenant Pays Electricity Gas Lawn Care Snow Removal
Topography Level Sloped
Levels Two
Property Subtype Duplex Up and Down
Tax Year 2026
Gross Income 38400
Accessibility None
County Mille Lacs
Net Operating Income 28561
Operating Expense 7439
Insurance Expense 2718
New Construction N
Property Type Residential Income
Association Amenities None
Contingency None
MaintenanceExpense 175
Subdivision Name Fifth Add To Milaca
Directions Milaca - Hwy. 23 / 4th Street go north on 2nd Ave SW - Home on right
City Milaca
High School District Milaca
Zoning Description Residential-Multi-Family Residential-Single Family
Number Of Units Total 2
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 3434
Electric Expense 0
Fuel Expense 0
Trash Expense 450
Water Sewer Expense 950
Additional Parcels Y/N N
Standard Status Active
Lender Owned No
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Interior
Basement Daylight/Lookout Windows Full Unfinished
Basement (Y/N) Y
Above Grade Finished Area 2076
Laundry Features None
Total Bedrooms 5
Below Grade Finished Area 0
Total Baths 2
Foundation Dimensions 1
Fuel Natural Gas
Garage Dimensions 7x16
Garage Square Feet 728
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Exterior
Parking Features Detached Garage Asphalt Garage Door Opener
Lot Features Corner Lot Tree Coverage - Medium
Water Source City Water/Connected
Lot Size Area 0.414
Building Area Total 2268
Lot Dimensions 122x148
Waterfront Y/N N
Foundation Area 1351
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Internal Only
Street Number 1 345
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* Excluded Features
List By
Re/Max Advantage Plus

Broker

sam@sam-severson.com

Email

Affordability Calculator

$2,496
Per Month
89%
11%
0%
Monthly Principal & Interest
$2,210
Monthly Property Taxes
$286
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
708408 Elementary School
708418 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/29/2026$320,000 Listed Price

Map


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345 2nd Avenue SW, Milaca, MN, 56353 is a Multi-Family Home for sale at $320,000 with 2,076 sqft and a lot size of 0.414. 345 2nd Avenue SW has 5 bedrooms, 2.0 baths, and was built in 1920. The property's zip code is 56353 which is in Milaca, MN