810 S Broad Street is a $599,000, 3,907 square foot, 2 bedroom, 1.0 bath home on a 0.13 acre lot located in Mankato, MN.
Now for sale is The Rose House, built in 1897. It was owned by Dickinson L. Rose who was a local real estate agent and inventor. It is located in the Historic Lincoln Park District and is itself also on the National Register of Historic Places. The house was a victim of a fire a few years ago and has been brought back to life by Josh Kelley, a local developer. Because of its French Renaissance-inspired design it is an unusual member of the Lincoln Park District. The exterior is original and is built of reddish-brown pressed brick with smooth, yellow limestone trim. It overlooks Lincoln Park. Aside from the foundation and brick exterior, everything else is new. There are 5 apartment units. 3 of the units contain 2 bedrooms; one of the units is a 1 bedroom, and one studio unit. This is a rare opportunity for a buyer to own a piece of history that produces income. Rental income projections are as follows: Studio$850 1 Bedroom$850 2 Bedroom$1,100 2 Bedroom$1,200 2 Bedroom$1,275 Total$5,275 per month $63,300 per year Operating Expenses $15,825 NOI $47,475 Cap Rate 7%
Mechanicals - Individual Water Heaters
|# Parking Spaces||3|
Fuel - Natural Gas
Exterior - Brick
|Property Sub Type|
blue earth county
Based on information from the REALTOR Association of Southern Minnesota, last updated 09/22/2018 at 02:32pm MDT. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS or this website.