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345 2nd Avenue SW, Milaca, MN 56353

$340,000

Property Type: Multi-Family Bedrooms: 5 Baths: 2 Square Footage: 2,268 Lot Size (sq. ft.): 17,860 Status: Active

Current Price: $340,000 List Date: 3/24/2026 Last Modified: 7/08/2026

Overview

Description

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.

Listing Details MLS# 7036294

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, Residential-Single Famil
Main Floor Total SqFt: 1351
Above Ground SqFt: 2268
Total SqFt: 2268
Foundation Size: 1351
Style: (MF) Duplex Up and Down
Total Finished Sqft: 2076.00
Garage Stalls: 3
Lot Dimensions: 122x148
Acres: 0.41
Assessment Pending: Yes
Below Grd Total SqFt: 0

Property Features

Accessible: None Amenities Shared: None Basement: Full; Unfinished Construction Materials: Block; Concrete; Frame Construction Status: Previously Owned Electric: 100 Amp Service; 60 Amp Service; Circuit Breakers; Fuses Exterior: Fiber Board Fuel: Natural Gas Heating: Baseboard; Boiler; Hot Water; Radiant; Radiator Internet Options: Cable; DSL; Fiber Optic Laundry: None Lock Box Type: Combo Lot Description: Corner Lot; Tree Coverage - Medium Owner Pays: Sewer; Trash Collection; Water Parking Characteristics: Garage Door Opener Roof: Age 8 Years or Less; Asphalt Shingles Sellers Terms: Adj. Rate/Gr Payment; Cash; Conventional; Conventional Rehab; FHA; Special Funding; VA Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Gas; Lawn; Snow Removal Topography: Level; Sloped Unit 1 Amenities: Porch Unit 1 Appliances: Disposal; Range; Refrigerator Unit 1 Special Search: Main Floor Bedroom; 3 BR on One Level Unit 2 Amenities: Balcony; Porch Unit 2 Appliances: Range; Refrigerator Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 360000
ListPrice: 340000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 345
Street Name: 2nd
Street Suffix: Avenue
Street Direction Suffix: SW
Postal City: Milaca
County: Mille Lacs
State: MN
Zip Code: 56353
Complex/Dev/Subdivision: Fifth Add To Milaca

Assessments

Assessment Balance: 15
Tax With Assessments: 3434
Assessment Installment: 0

Basement

Foundation Dimensions: Yes
Full: Yes
Unfinished: Yes

More Information

Building Information

Finished SqFt Above Ground: 2076

Income and Expenses

Annual Gross Expenses: 7439
Annual Gross Income: 38400
Annual Insurance Expense: 2718
Annual Maintenance Expense: 175
Annual Net Income: 28561
Annual Repair Expense: 175
Annual Trash Expense: 450
Annual Water/Sewer Expense: 950
Total Annual Expenses: 7439
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 7x16
Garage Square Feet: 728
Garage Door Opener: Yes

Public Survey Info

Range#: 27
Section#: 25
Township#: 38

Unit 1

Furnished?: No
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: Main Level
Unit Number: Yes
Annual Rent: 22200
Finished SqFt: 1351
Full Baths: Yes
Monthly Rent: 1850
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: 4

Unit 2

Furnished?: No
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: 2nd Level
Unit Number: 2
Annual Rent: 13800
Finished SqFt: 725
Full Baths: Yes
Monthly Expense: 1150
Monthly Rent: 1150
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 3

Unit Details

Total Units: 2

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: FIFTH ADDITION TO MILACA EX HWY & LOT 8 BLK 47
Listing City: Milaca
Map Page: 999
Municipality: Milaca
School District: Milaca
School District Phone: 320-982-7210
Zip Plus 4: 3405
Property ID Number: 210460070
Tax Year: 2026
Tax Amount: 3434
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 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.
Directions: Milaca - Hwy. 23 / 4th Street, go north on 2nd Ave SW - Home on right

Accessible

None: Yes

Amenities Shared

None: Yes

Construction Materials

Block: Yes
Concrete: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Electric

100 Amp Service: Yes
60 Amp Service: Yes
Circuit Breakers: Yes
Fuses: Yes

Exterior

Fiber Board: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes
Boiler: Yes
Hot Water: Yes
Radiant: Yes
Radiator: Yes

Internet Options

Cable: Yes
DSL: Yes
Fiber Optic: Yes

Laundry

None: Yes

Lock Box Type

Combo: Yes

Lot Description

Corner Lot: Yes
Tree Coverage - Medium: Yes

Owner Pays

Sewer: Yes
Trash Collection: Yes
Water: Yes

Patio, Porch and Deck Features

Porch: Yes

Roof

Age 8 Years or Less: Yes
Asphalt Shingles: Yes

Sellers Terms

Adj. Rate/Gr Payment: Yes
Cash: Yes
Conventional: Yes
Conventional Rehab: Yes
FHA: Yes
Special Funding: Yes
VA: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Topography

Level: Yes
Sloped: Yes

Water

City Water/Connected: Yes

No. of Ranges

Two: Yes

No. of Refrigerators

Two: Yes

Tenant Pays

Electricity: Yes
Gas: Yes
Lawn: Yes
Snow Removal: Yes

Unit 1 Amenities

Porch: Yes

Unit 1 Appliances

Disposal: Yes
Range: Yes
Refrigerator: Yes

Unit 1 Special Search

Main Floor Bedroom: Yes
3 BR on One Level: Yes

Unit 2 Amenities

Balcony: Yes
Porch: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Listing Office: RE/MAX Advantage Plus

Last Updated: July - 08 - 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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.