290 1st Ave SW Wells, MN 56097

1 bed · 1 bath · 1,706 sq ft · Lot Size: 10,454 sq ft · Single Family Home
Est. Property Value: $110,200

Valued above Market Median

Get AI-powered intel on property income potential, propensity to sell and other key info to close on the right property.

290 1st Ave SW is in the 56097 neighborhood of Wells, MN. It is located in Faribault County and ZIP code 56097. This Single Family Home was built in 1900 and is approximately 125 years old. The single family home spans 1706 sq ft with 1 bedroom and 1 bathroom and sits on a 10454 sq ft lot. According to public records, it has a tax-assessed value of $110,200, which is $65 per sq ft. Analyze and compare real estate investment strategies for properties like this home at 290 1st Ave SW Wells, MN 56097 with Property Intel by Whitepages.

290 1st Ave SW

Wells, MN 56097

Neighborhood

Owners & Occupancy for 290 1st Ave SW

No contact information is available.

Occupancy

Resident 1**************** age 81
Resident 2****************

Property Financials for 290 1st Ave SW

290 1st Ave SW, Wells, MN has no known mortgage. The Faribault county assessment for 2023 values it at $110,200, with annual taxes of $1,746.

Property Tax

Property Tax Amount$1,746 in 2024
Assessed Value$110,200 on 2023

Investment Potential for 290 1st Ave SW

The property has a current estimated value of $110,200, which is 47% above the zip median. Projected long-term rental income is $24,000 annually ($2,000 per month) with a 91% occupancy rate.

Discover more Single Family Homes in 56097.
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Long-Term

Gross Rental
$24,000 per year($2,000 per month)
Net Operating Income
$*****View Net Operating Income
Cap Rate
****%View Cap Rate
Occupancy Rate
91%in 56097 zip code
 
View Rental Potential

Property Details for 290 1st Ave SW

Property Details

Property Sq Ft

Living Area

1,706 sq ft

74% above market

Lot Size

10,454 sq ft

0% above market

Price Per Sq Ft

Living Area

$65 / sq ft

1% above market

Lot Size Area

$11 / sq ft

175% above market

Property condition, age, exterior, etc. for 290 1st Av…
Longitude: -93.727355 Latitude: 43.742261 Parcel Number (APN): 30.200.0670…

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Market Benchmarks

Compare data for 290 1st Ave SW in Faribault County to the median in the zip code area and surrounding markets, where available.
View zip code benchmarks
Property
State
Difference
$110,200
$186,052
-$75,852 (-41%)
—
—
—
YoY Price Change
—
—
—
Year Built
1900
1952
-52 years
Living Space
1,706 sq ft
824 sq ft
882 (107%)
$ Per Living Sq Ft
$65
$204
-$140 (-68%)
Lot Size
10,454 sq ft
13,190.5 sq ft
-2736 (-21%)
$ Per Lot Sq Ft
$11
$12
-$1 (-9%)

Net Operating Income
$*****
$17,152
$1,071 (6%)
Annual Revenue
$24,000
$24,000
$0 (0%)
$****
$6,246
-$469 (-8%)
Net Operating Income
$*****
$17,152
$1,071 (6%)
Cap Rate
****%
8.36%
—
View Zip code Data
Home Value Comparison: Property vs. Local and Regional 1-Bed Single Family Home Medians

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