Does this property have an HOA?

No, this property does not have a homeowners association.

What are the annual property taxes?

Annual property taxes are $2,540 (2026).

Does this home have a garage?

Yes, this home has a 1-car garage.

How long has this property been on the market?

This property was listed for 0 days.

Pending

$250,000

$226/sqft

Tibesars 1st Add

1016 W Elm Street, Lake City, MN, 55041

3 Bedrooms2 Bathrooms1,104 Square Feet0.258 Acres

Days on market0

Year built1972

Garage spaces1

TypeResidential

Est. $4,500buyer credit when you buy with SODL

About this home

Welcome to your new home in Lake City, MN! The perfect opportunity for a first-time buyer ready to own a place to truly call home. This inviting 3-bedroom 1-story ranch with full basement offers the convenience of all three bedrooms on one level along with a functional, easy-flow layout. The main floor features beautiful hickory wood floors, ceramic, white painted trim and freshly paint for a warm, move-in-ready feel. Enjoy the comfort of an attached 1-car garage, plus a newer backyard shed that provides excellent additional storage for tools, toys, and seasonal items. The unfinished basement with two egress windows offers outstanding potential for future living space and equity growth - whether you envision a family room, extra bedrooms, or a home office. Located in a great neighborhood near Bluff View Elementary School and set on a spacious lot with room to relax or entertain, this home delivers affordability, flexibility, and room to grow. Be sure to check it out today!

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Home facts

Property typeResidential

Property subtypeSingle Family Residence

Year built1972

LevelsOne

Living area1,104 sqft

Above-grade finished1,104 sqft

Below-grade finished0 sqft

Lot size0.258 acres (75 x 150)

Days on market0

ListedMar 4, 2026

MLS #NST7030143

CountyWabasha

SubdivisionTibesars 1st Add

Parcel #R220139900

Facts & features

Interior

Bedrooms: 3
Bathrooms: 2
Bath breakdown: 1 full / 1 1/4
Heating: Forced Air
Cooling: Central Air
Appliances: Dishwasher, Disposal, Dryer, Range, Refrigerator, Washer, Water Softener Rented

Property

Levels / stories: One
Garage: 1 space · 288 sqft
Parking features: Attached Garage, Concrete
Patio & porch: Porch
Fencing: Chain Link, Partial
Lot size: 0.258 acres

Construction

Property type: Residential
Property subtype: Single Family Residence
Construction materials: Frame
Foundation: 1,104 sqft
Roof: Age 8 Years or Less, Asphalt
Year built: 1972

Utilities

Water: City Water/Connected
Sewer: City Sewer/Connected
Fuel: Natural Gas
Electric: Circuit Breakers, 100 Amp Service

Community & HOA

Subdivision: Tibesars 1st Add
HOA: No HOA
School district: Lake City

Financial & listing details

Annual tax: $2,540 (2026)
Listed: Mar 4, 2026
Days on market: 0
Manufactured home: Yes

Interior details

Total bathrooms2

Full baths1

3/4 baths0

Half baths0

1/4 baths1

BasementBlock, Full, Unfinished

HeatingForced Air

CoolingCentral Air

LaundryIn Basement

AppliancesDishwasher, Disposal, Dryer, Range, Refrigerator, Washer, Water Softener Rented

AmenitiesCeiling Fan(s), Hardwood Floors, Kitchen Window, Patio, Tile Floors

AccessibilityNone

Special features3 BR on One Level, Main Floor Bedroom

Exterior & lot

RoofAge 8 Years or Less, Asphalt

Foundation area1,104 sqft

Patio/porchPorch

Road frontageCity Street

Road responsibilityPublic Maintained Road

ZoningResidential-Single Family

Utilities

Water sourceCity Water/Connected

SewerCity Sewer/Connected

FuelNatural Gas

Parking & garage

ParkingAttached Garage, Concrete

Garage spaces1

Garage size288 sqft

Financial details

Annual taxes$2,540

Tax year2026

Taxes w/ assessments2540

Assessment pendingNo

Down payment resourceYes

Lender ownedNo

Short saleNo

ForeclosureNo

Schools

District number2281

District phone6513452198

High schoolLake City

SODL flat fee brokerage

$4,500Estimated buyer credit

SODL platform fee $3,000Your buyer credit $4,500

Buyer-side commission

3.0%

How SODL buyer credits work

When you buy with SODL, the brokerage charges a flat $3,000 platform fee at closing. The remaining buyer-side commission (typically 3% of the purchase price) is credited directly back to you at closing, reducing the cash you bring to the table.

Tour homes with SODL’s flexible showing network
Submit offers and manage your transaction through the platform
Keep more money at closing through transparent flat-fee pricing

A clear, modern way to buy with expert guidance and meaningful savings.

Estimated monthly payment

$1,609/mo

Principal & interest$1,314

Property taxes$212

Home insurance (est.)$83

Down payment

$50,000

0%50%

Credit score

Loan term

These payment estimates are for illustration purposes only and may vary based on your lender, interest rate, credit profile, down payment, taxes, insurance, and loan terms. For a more accurate monthly payment estimate, speak with your lender or connect with SODL’s preferred lending partner.