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$469,900

For Sale - Active
1110 Water Plant Rd, Fergus Falls, MN 56537
4 Beds
2 Baths
2,740 Square Feet
1.37 Acres Lot
Built in 1963
For Sale - Active
Units n/a
Checked: 2 days ago
Updated: Jul 19, 2025 at 07:49AM

Investment Summary


Monthly Cash Flow
-$1,157
Cap Rate
2.7%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-8.4%

Property Description


1.37 Acres Lot
Built in 1963
For Sale - Active
Units n/a

Welcome to this well-maintained 4-bedroom, 2-bathroom home with workshop paradise nestled on 1.37 acres on the edge of Fergus Falls. Offering the perfect blend of comfort, functionality, and outdoor space, this property is ideal for those seeking both peaceful living and a well-equipped shop setup. Inside, you’ll find a warm and welcoming main level featuring a bright living room with a large picture window and wall A/C, a galley kitchen with oak cabinetry, and an informal dining area conveniently combined with the kitchen. Two bedrooms and a full bathroom complete the main floor. Upstairs includes two additional bedrooms and a spacious storage room. The lower level boasts a large family room, 3/4 bathroom, laundry room with utility sink and large countertop, a bonus/exercise room, an additional storage/bonus room with computer hookups, and even a second kitchen with a walkout — ideal for entertaining or potential separate living quarters. Enjoy added convenience with a reverse osmosis system at the kitchen sink, whole-house water filter, Kinetico water softener, and efficient natural gas radiant boiler heat. Step outside to enjoy two freshly painted decks, low-maintenance vinyl siding and windows, a fenced-in garden, and leaf guards on the gutters of both the house and the shop. A true standout is the oversized garage/shop — all heated except camper stall, with 3 feet of insulation, epoxy floors, steel wall liners, and 100 AMP electric service. Features include: main garage (26' x 36') featuring 2 stalls with epoxy floor coating, Liftmaster openers, air compressor service to all stalls, third stall (20' x 36') with hoist, fourth stall (16' x 36') ideal for camper storage, complete with plug-in and oversized door, fifth stall (28' x 22') set up as a carpentry shop, with an attached 28' x 13' lean-to wood shop, and a separate 10' x 12' garden shed for additional storage. Don't miss the opportunity to own this well-maintained, multi-functional property with extensive updates and features throughout. See the list of updates in Documents for full details.

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Garage Door Opener, Heated Garage, RV Access/Parking, Storage, Garage
  • Garage Spaces: 5
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 1
  • Attic: Yes
  • Basement: Yes
  • Basement Description: Full, Storage Space, Block, Concrete

Exterior Features

  • Exterior Walls Materials: Vinyl siding
  • Roof Type: Gable or Hip
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 71002500120001
  • Lot Size: 59677 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 1963

Tax Information

  • Annual Tax: $3,760

Utilities

  • Water & Sewer: Well
  • Heating: Baseboard, Radiant

Location

  • County: Otter Tail

Listing Details


Listed by:
Lynette Marie Bjorgaard
Trilogy Real Estate
(218) 205-6947

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6743289
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$1,157
Cap Rate
2.7%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-8.4%

Purchase Details

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Purchase price:
$469,900
Amount financed:
-$375,920
Down payment:
$93,980
Closing costs:
$14,097
Rehab costs:
$0
Initial cash invested:
$108,077
Square feet:
2,740
Cost per square foot:
$172
Monthly rent per square foot:
$0.73

Financing Details

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Loan amount:
$375,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,224
Property tax:
$313
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,677

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$313-$3,760
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (41%)
41%-$813-$9,760

Cash Flow


Monthly Yearly
Net operating income:
$1,067 $12,804
Mortgage payments:
-$2,224 -$26,688
Cash flow:
$1,157 $13,884