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$369,900

For Sale - Active
6198 210th Ave SE, Lake Lillian, MN 56253
5 Beds
2 Baths
2,690 Square Feet
4.00 Acres Lot
Built in 1896
For Sale - Active
Units n/a
Checked: 11 hours ago
Updated: Jul 29, 2025 at 06:37AM

Investment Summary


Monthly Cash Flow
-$736
Cap Rate
3.3%
Cash-on-Cash Return
-10.4%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-6.1%

Property Description


4.00 Acres Lot
Built in 1896
For Sale - Active
Units n/a

Nestled on 4 acres of quiet rural charm—where wide open skies, peaceful wildlife, and thoughtfully cared for spaces come together to create a lifestyle that's equal parts comfort and possibility. Step inside and feel the warmth of a home that truly understands everyday living. The spacious main level features a large living room centered around a cozy gas fireplace—perfect for gathering on quiet evenings or hosting lively get-togethers. A dedicated laundry room on the main level adds everyday ease, while all throughout the home, windows highlight views of the surrounding wildlife haven just beyond your walls. Upstairs, you’ll find four bedrooms conveniently situated on one level, offering privacy and room for everyone. Beyond the main home lies a world of potential: a 56x36 heated machine shop stands ready for your tools, toys, or dreams—a workshop, collector’s garage, or creative space, all kept comfortable year-round. And just steps away, a separate 624-square-foot studio offers even more versatility. Previously used for a small business, this space is bursting with potential—think guest apartment, art studio, office, or income-generating rental. Whether you're sipping coffee in the quiet morning air or taking in sunset views surrounded by nothing but nature, this property gives you the rare gift of peaceful living without limits. From the practical layout to the endless opportunity beyond the walls, it’s more than just a home—it’s a place to grow, dream, and thrive.

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Garage Door Opener, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Partial, Unfinished
  • Fireplace: Yes

Exterior Features

  • Roof Material: Asphalt, Shingle

Land Information

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

Lot Information

  • Parcel ID: 250210050
  • Lot Size: 174240 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 1896

Tax Information

  • Annual Tax: $2,732

Utilities

  • Water & Sewer: Private, Well
  • Heating: Forced Air

Location

  • County: Kandiyohi

Listing Details


Listed by:
Eric A Newman
Coldwell Banker Realty
(612) 719-9245

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6729555
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$736
Cap Rate
3.3%
Cash-on-Cash Return
-10.4%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-6.1%

Purchase Details

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Purchase price:
$369,900
Amount financed:
-$295,920
Down payment:
$73,980
Closing costs:
$11,097
Rehab costs:
$0
Initial cash invested:
$85,077
Square feet:
2,690
Cost per square foot:
$138
Monthly rent per square foot:
$0.67

Financing Details

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Loan amount:
$295,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,750
Property tax:
$228
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,104

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$228-$2,732
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (38%)
38%-$678-$8,132

Cash Flow


Monthly Yearly
Net operating income:
$1,014 $12,168
Mortgage payments:
-$1,750 -$21,000
Cash flow:
$736 $8,832