PENDING
$60K PRICE DROP
416 8th St NW Faribault, MN 55021
Estimated payment $1,704/month
Total Views
30,185
6
Beds
4
Baths
2,736
Sq Ft
$95
Price per Sq Ft
About This Home
Excellent investment opportunity priced to meet the 1% rule in a highly convenient location just minutes from downtown Faribault, with quick access to I-35 and Highway 60. This property is now a fixer-upper with strong value-add potential. The building features four units: two 2-bed/1-bath units and two 1-bed/1-bath units, with only 2 units currently rented. Rents are below market, offering significant upside for a new owner willing to renovate and stabilize the property. With tall ceilings and plenty of character throughout, this property has great bones and long-term potential. Additional amenities include ample on-site parking, a garage, and a storage shed. The price has been discounted to reflect the condition, giving the next owner an excellent opportunity to create instant equity through improvements and increased rental income.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,806
Year Built
- Built in 1900
Parking
- 1 Car Garage
Interior Spaces
- 2,736 Sq Ft Home
- 2-Story Property
- Partial Basement
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Additional Features
- Lot Dimensions are 99x177
- Forced Air Heating System
Community Details
- 4 Units
- Paquins 2Nd Add Subdivision
Listing and Financial Details
- The owner pays for sewer, trash collection, water
- Assessor Parcel Number 1830375041
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,806 | $284,300 | $83,000 | $201,300 |
| 2024 | $3,806 | $240,100 | $59,000 | $181,100 |
| 2023 | $3,228 | $240,100 | $59,000 | $181,100 |
| 2022 | $3,402 | $218,800 | $59,000 | $159,800 |
| 2021 | $3,272 | $214,700 | $49,600 | $165,100 |
| 2020 | $3,012 | $204,600 | $49,600 | $155,000 |
| 2019 | $2,854 | $192,100 | $47,200 | $144,900 |
| 2018 | $3,486 | $178,600 | $46,300 | $132,300 |
| 2017 | $3,382 | $169,200 | $46,300 | $122,900 |
| 2016 | $3,400 | $154,900 | $41,100 | $113,800 |
| 2015 | $3,396 | $151,000 | $41,100 | $109,900 |
| 2014 | -- | $155,900 | $51,400 | $104,500 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/28/2026 03/28/26 | Pending | -- | -- | -- | |
| 03/24/2026 03/24/26 | Price Changed | $259,900 | -18.8% | $95 / Sq Ft | |
| 12/10/2025 12/10/25 | For Sale | $319,900 | +21.6% | $117 / Sq Ft | |
| 02/15/2024 02/15/24 | Sold | $263,000 | -16.5% | $96 / Sq Ft | View Prior Sale |
| 12/14/2023 12/14/23 | Pending | -- | -- | -- | |
| 11/09/2023 11/09/23 | For Sale | $315,000 | +293.8% | $115 / Sq Ft | |
| 05/10/2013 05/10/13 | Sold | $80,000 | -12.9% | $40 / Sq Ft | View Prior Sale |
| 05/06/2013 05/06/13 | Pending | -- | -- | -- | |
| 02/11/2013 02/11/13 | For Sale | $91,800 | -- | $46 / Sq Ft |
Source: NorthstarMLS
About the Listing Agent
Tom is a devoted husband and father, motivator, volunteer, coach and sincerely enjoys helping people in need. He is timely and responsive, knows the housing market, and is willing to go the extra mile to satisfy the needs of his clients. When Tom isn't rescuing or fostering dogs, coaching a youth baseball game, or helping out a friend, he is guiding clients through all the issues they face in the purchase or sale of their home. Tom is very well connected, being born and raised in the area, and
Tom's Other Listings
Source: NorthstarMLS
MLS Number: 6825777
APN: 18.30.3.75.041
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Based on information submitted to the MLS GRID
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