Zip Code
507 1st St SW, New Richland, MN 56072
2 beds · 1 bath · 960 sq ft · Lot: 13,460 sq ft · Single Family Home · Last Sold: $65K in 2017 · Built: 1974
Est. Rent:
$2.1K/month

507 1st St SW New Richland, MN 56072

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2 beds · 1 bath · 960 sq ft · Lot Size: 13,460 sq ft · Single Family Home

Owned for 5 - 10 YearsOwner Age Above 75

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507 1st St SW is in the 56072 neighborhood of New Richland, MN. It is located in Waseca County and ZIP code 56072. This Single Family Home was built in 1974 and is approximately 51 years old. The single family home spans 960 sq ft with 2 bedrooms and 1 bathroom and sits on a 13460 sq ft lot. According to public records, it was last sold in 2017 for $65,000 and has a tax-assessed value of $153,400. Analyze and compare real estate investment strategies for properties like this home at 507 1st St SW New Richland, MN 56072 with Property Intel by Whitepages.

Investment Potential for 507 1st St SW

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Long-Term

Gross Rental
$25,800 per year($2,150 per month)
Net Operating Income
$*****View Net Operating Income
Cap Rate
—
Occupancy Rate
87%in 56072 zip code
 
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Owners & Occupancy for 507 1st St SW

This property is owned by Gordon Leon Loverink. Owner contact information includes 3 phone numbers and 1 email address.

Property Owners

Cell Phone(507) ***-****View Cell Phone
Residence****************
Landline(507) 889-8017
Distance from Property**********
Email Address*******@hickorytech.netView Email
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Property Ownership Information

Purchase DateMay 24, 2017
Property Tax Amount$2,134 in 2024
Purchase Price$65,000

Occupancy

Current Occupancy*****View Occupancy
Resident 1***************
Resident 2******************** age 76

Property Details for 507 1st St SW

Property Details

Property Sq Ft

Living Area

960 sq ft

17% below market

Lot Size

13,460 sq ft

12% above market

Property condition, age, exterior, etc. for 507 1st St…
Longitude: -93.50006 Latitude: 43.893118 Parcel Number (APN): 15.778.0160…
Mortgage originated on through lender: UNKNOWN for$*****View Mortgage Details
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Market Benchmarks

Compare data for 507 1st St SW in Waseca County to the median in the zip code area and surrounding markets, where available.
View zip code benchmarks
Property
State
Difference
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YoY Price Change
—
—
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Year Built
1974
1975
-1 years
Living Space
960 sq ft
1,258 sq ft
-298 (-24%)
$ Per Living Sq Ft
—
—
—
Lot Size
13,460 sq ft
8,712 sq ft
4748 (54%)
$ Per Lot Sq Ft
—
—
—

Net Operating Income
$*****
$18,777
$1,406 (7%)
Annual Revenue
$25,800
$26,400
-$600 (-2%)
$****
$7,585
-$1,968 (-26%)
Net Operating Income
$*****
$18,777
$1,406 (7%)
Cap Rate
—
—
—
View Zip code Data
Home Value Comparison: Property vs. Local and Regional 2-Bed Single Family Home Medians