$160,000
Biwabik, MN 55708
MLS# 7143364
5 beds | 4 baths | 3300 sqft
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Property Description
Whether you want to increase your portfolio or have a live-in house hack. This property is perfect for your next cash-flowing investment. Currently used as a long-term rental but can be used as a short-term rental, this four-unit property has a mix of 2 two-bedrooms (both leased currently $1000 and $900/month), a one-bedroom ($835/month vacant), and one efficiency apartments ($750/month vacant). Current tenants are on month-to-month or soon-to-be-expiring leases. Three new water heaters in the last three years. The furnace has also been updated to natural gas. The electrical service has been updated to all breakers and potential laundry room wiring has been run already. Metal roof and blown-in insulation in the attic make this fairly easy to heat. All the utilities and heat are included in the tenants' rent.
Details
Maps
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Active
Contingency: None
Current Price: $160,000
Original List Price: 160000
ListPrice: 160000
List Date: 2026-09-11
Office/Member Info
Association: ICBR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1920
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Lot Dimensions: 50x125
Acres: 0.14
Main Floor Total SqFt: 1100
Below Grd Total SqFt: 1100
Above Ground SqFt: 2200
Total SqFt: 3300
Total Finished Sqft: 2200.00
Foundation Size: 1100
Style: (MF) Four Plex
Garage Stalls: 0
Power Company: Other
Assessment Pending: No
Bedrooms: 5
Baths Total: 4
Location, Tax and Other Information
Legal Description: Lots 7 & 8 Block 17 Biwabik
Listing City: Biwabik
Map Page: 999
Municipality: Biwabik
School District: Mesabi East
School District Phone: 218-229-3321
Zip Plus 4: 3011
Property ID Number: 015001001170
Tax Year: 2026
Tax Amount: 3148
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: Whether you want to increase your portfolio or have a live-in house hack. This property is perfect for your next cash-flowing investment. Currently used as a long-term rental but can be used as a short-term rental, this four-unit property has a mix of 2 two-bedrooms (both leased currently $1000 and $900/month), a one-bedroom ($835/month vacant), and one efficiency apartments ($750/month vacant). Current tenants are on month-to-month or soon-to-be-expiring leases. Three new water heaters in the last three years. The furnace has also been updated to natural gas. The electrical service has been updated to all breakers and potential laundry room wiring has been run already. Metal roof and blown-in insulation in the attic make this fairly easy to heat. All the utilities and heat are included in the tenants' rent.
Directions: From highway 135 turn north on 3rd Ave - do not park in front of the fire department or directly in front of the building. The spaces are reserved for emergency parking for the fire department.
Accessible
None: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 3148
Assumable Loan
Not Assumable: 1
Basement
Foundation Dimensions: 22x50
Full: 1
Building Information
Finished SqFt Above Ground: 2200
Construction Materials
Timber/Post & Beam: 1
Construction Status
Previously Owned: 1
Electric
100 Amp Service: 1
Existing Financing
Conventional: 1
Exterior
Vinyl: 1
Foundation
Stone: 1
Fuel
Electric: 1
Natural Gas: 1
Heating
Forced Air: 1
Space Heater: 1
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Owner Pays
All Utilities: 1
Ownership
Fractional Ownership: No
Patio, Porch and Deck Features
Porch: 1
Public Survey Info
Range#: 16
Section#: 11
Township#: 58
Road Frontage
City Street: 1
Road Responsibility
Public Maintained Road: 1
Roof
Metal: 1
Sellers Terms
Cash: 1
Conventional: 1
Sewer
City Sewer/Connected: 1
Stories
Two: 1
Unit 1
Furnished?: No
Leased?: No
Level: Main Level
Unit Number: 1
Monthly Rent: 750
Total Rooms: 2
3/4 Baths: 1
Annual Rent: 900
Finished SqFt: 225
Monthly Expense: 2304
No. of Units Like This: 1
Total Baths: 1
Unit Details
Total Units: 4
Water
City Water/Connected: 1
Income and Expenses
Annual Caretaker Expense: 0
Annual Electric Expense: 7610
Annual Fuel Expense: 1585
Annual Gross Expenses: 16956
Annual Gross Income: 39548
Annual Insurance Expense: 1350
Annual Maintenance Expense: 2048
Annual Net Income: 22592
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Misc Monthly Income: 0
Misc. Annual Income: 0
Total Annual Expenses: 16956
No. of Ranges
Four: 1
No. of Refrigerators
Four: 1
Tenant Pays
Snow Removal: 1
Unit 1 Appliances
Range: 1
Refrigerator: 1
Unit 1 Dining Room Description
Kitchen/Dining Room: 1
Living/Dining Room: 1
Unit 2
Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 2
Annual Rent: 12300
Finished SqFt: 875
Full Baths: 1
Monthly Expense: 2304
Monthly Rent: 1025
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 4
Unit 2 Appliances
Range: 1
Refrigerator: 1
Unit 2 Dining Room Description
Living/Dining Room: 1
Unit 3
Furnished?: No
Leased?: No
Level: 2nd Level
Unit Number: 3
Annual Rent: 1020
Finished SqFt: 325
Full Baths: 1
Monthly Expense: 2304
Monthly Rent: 835
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 1
Total Rooms: 3
Unit 3 Appliances
Range: 1
Refrigerator: 1
Unit 3 Dining Room Description
Living/Dining Room: 1
Unit 4
Furnished?: No
Lease Expiration Date: 2026-10-31
Leased?: Yes
Unit Number: 4
Annual Rent: 10800
Finished SqFt: 700
Full Baths: 1
Monthly Expense: 2304
Monthly Rent: 900
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 5
Unit 4 Appliances
Range: 1
Refrigerator: 1
Location Tax and Other Information
House Number: 110
Street Name: 3rd
Street Suffix: Avenue
Street Direction Suffix: N
Postal City: Biwabik
County: St. Louis
State: MN
Zip Code: 55708
Complex/Dev/Subdivision: Biwabik
Property Features
Accessible: None
Assumable Loan: Not Assumable
Basement: Full
Construction Materials: Timber/Post & Beam
Construction Status: Previously Owned
Electric: 100 Amp Service
Existing Financing: Conventional
Exterior: Vinyl
Foundation: Stone
Fuel: Electric; Natural Gas
Heating: Forced Air; Space Heater
Owner Pays: All Utilities
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Metal
Sellers Terms: Cash; Conventional
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Snow Removal
Unit 1 Appliances: Range; Refrigerator
Unit 1 Dining Room Description: Kitchen/Dining Room; Living/Dining Room
Unit 2 Appliances: Range; Refrigerator
Unit 2 Dining Room Description: Living/Dining Room
Unit 3 Appliances: Range; Refrigerator
Unit 3 Dining Room Description: Living/Dining Room
Unit 4 Appliances: Range; Refrigerator
Water: City Water/Connected
Listing Office: GRAND PROPERTIES REAL ESTATE
Last Updated: September - 12 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
