#6642814, Listing office: Keller Williams Classic Rlty NW
$94,900 List price
501 1st St N Virginia, MN 55792
1,418 sqft
$67 / sqft
Multi-Family
Property details
About 501 1st St N
Turnkey Duplex with Strong Cash Flow – 14.7% Cap Rate! This well-maintained property is a solid investment opportunity with excellent returns. The upper unit features a long-term tenant currently paying $860/month, with potential to increase rent for even greater cash flow. Both units are in good condition, offering clean, comfortable living spaces. The building includes a basement with storage and laundry facilities, and has proven to be very low maintenance over time. Similar 2-bedroom units in the area qualify for Section 8 rents of up to $1,100/month, providing additional income potential. A great addition to any investment portfolio!
Highlights
Home typeDuplex
HeatingSteam
StatusActive
Size1,418 sqft
BasementYes
Year built1904
ParkingGravel, Parking Lot
MLS #6690399
Summary
- Basement: Yes
- Attached Garage: No
- Parking: Gravel, Parking Lot
- Heating: Steam
- List Price: $94,900
- Price/SqFt: $66
- Annual Tax Amount: $1,182
- Tax Year: 2023
- Directions: via S 2nd Ave W/S State Hwy 135 and 1st St N
- Year Built: 1904
- Living Area: 1,418 SqFt
- MLS Number: 6690399
- MLS Name: NORTHSTAR
- Office Name: RE/MAX Advantage Plus
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Feb 15, 2022 | Home Sold | $50,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $45,600 | $1,182 |
| 2021 | $23,100 | $704 |
| 2020 | $23,100 | $626 |
| 2019 | $18,200 | $480 |
| 2017 | $20,700 | $496 |
History based on county public records data.
Nearby schools
4
North Star Elementary School
Public District 3-6
0.3 mi
•411 S 5th Ave
8
Merritt Elementary School
Public District PK-6
2.6 mi
•8659 Unity Dr
4
Cherry Elementary School
Public District PK-6
11.5 mi
•3943 Tamminen Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $28,750. Typical income of Virginia, MN residents is less than $<35k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
55%
<35k
42%
35k-100k
3%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Doctorate
What types of families live nearby?
66%
Single, No Kids
14%
Single, with Kids
13%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
6%
12-17 yrs old
27%
18-34 yrs old
42%
35-64 yrs old
12%
65+ yrs old
What do the neighbors do for fun?
Pro Wrestling
Figure Skating
College Football
Where do the neighbors shop?
Wal-Mart
Kmart
Family Dollar
Where do the neighbors go to eat?
Sonic
Bob Evans
Dominos Pizza
What do the neighbors drive?
Oldsmobile
Buick
Ford
What do the neighbors listen to?
Contemporary Inspirational- Oldies
New Country
All data provided by Home Junction and Claritas
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Frequently asked questions
About 501 1st St N
The listing price of 501 1st St N property is $94,900.
The property 501 1st St N is a multi located in Virginia, Minnesota, 55792.
Active Listing: 501 1st St N is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 501 1st St N are: North Star Elementary School (GreatSchools Rating 4/10), Merritt Elementary School (GreatSchools Rating 8/10), Cherry Elementary School (GreatSchools Rating 4/10), Chisholm Elementary School (GreatSchools Rating 4/10), Rock Ridge High School (GreatSchools Rating 5/10), Northland Learning Center 010 (GreatSchools Rating 4/10), Mountain Iron-Buhl Secondary School (GreatSchools Rating 5/10).
According to the records, the last property tax for 2023 is $1,182 (source: MLS/based on county public records data).
The last sale was on February 15, 2022 for $50,000 (source: MLS/tax record).
The property 501 1st St N is 1,418 SqFt (source: MLS/tax record).
The year of construction for 501 1st St N is 1904.
This home is located at 501 1st St N in Virginia, MN and zip code 55792. This 1,418 square foot home was built in 1904. Features: 0 bathroom. It has been listed on Rocket Homes since March 25, 2025 and is currently priced at $94,900.
While more than 5 listings in Virginia, MN in June 2025 were sold above asking price, there were more than 2 listings sold at asking price, and more than 5 were sold below. The number of homes for sale in Virginia, MN increased by 8.3% between May and June 2025. While the average time on the market in June 2025 was 54 days, the median list price was $160,821.
From Rocket Homes Real Estate and based on county public records data.