$250,000
229 Locke Street Mankato, MN 56001
For Sale MLS# 267040989
4 beds 2 baths Multi-family
Details for 229 Locke Street
MLS# 267040989
Description for 229 Locke Street, Mankato, MN, 56001
5 unrelated Rental license - Rare investment opportunity knocks! Attractive cap rate potential($2000-2500/month) at current list price. Tenants have paid all utilities in the past! Excellent opportunity for investors seeking immediate cash flow. Property offers tenant appeal, with its location to MSU/Bethany/Downtown Mankato, and a price point difficult to find in today’s multifamily market. Whether adding to an existing portfolio or entering multifamily investing for the first time, this property offers potential solid income, long-term appreciation potential, and demand in this area. Attractive price point,5 off street parking spots, central location, 4 Bedrooms, a large kitchen/dining/& living areas, as well as versatile occupancy options make this a property you won’t want to miss! Close in time for Fall Semester!!
Listing Information
Property Type: Multi-family, Single Family Rental (L)
Status: Active
Bedrooms: 4
Bathrooms: 2
Lot Size: 0.19 Acres
Year Built: 1890
Foundation: 1,058 sq ft
Stories: 2 Story
Construction: Frame/Wood
Number Of Units Total: 1
County: Blue Earth
Days On Market: 8
Construction Status: Previously Owned
School Information
District: Mankato #77
Room Information
Bathrooms
3/4 Baths: 1
Interior Features
Square Footage above: 2,039 sq ft
Basement: Stone, Unfinished, Full
Additional Interior Features: Mechanicals - Water Heater - Gas
Utilities
Water: City
Sewer: City
Heating: Natural Gas, Forced Air
Exterior / Lot Features
Open Parking: 5
Exterior: Vinyl
Roof: Asphalt Shingles
Lot Dimensions: 69x118
Additional Exterior/Lot Features: Deck, Driveway - Concrete, Balcony, Porch, Paved Streets, Road Frontage - City
Driving Directions
From Riverfront Drive - turn onto Marshall St (approx .3 miles) turn Left on W Pleasant St, head .2 miles, turn Right on Locke St, House is on the left.
Financial Considerations
Terms: Cash,Conventional
Tenant Pays: Electric,Trash,Water/Sewer,Fuel
Tax/Property ID: R01.09.18.305.007
Tax Amount: 2704
Tax Year: 2026
A broker reciprocity listing courtesy: Keller Williams Premier Realty
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the REALTOR® Association of So MN Multiple Listing Service. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the REALTOR® Association of So MN Multiple Listing Service. IDX 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. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
Copyright 2026 REALTOR® Association of So MN Multiple Listing Service. All Rights Reserved.
Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 229 Locke Street
Sales History
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Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 229 Locke Street
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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