OFF MARKET

Off market apr 2022 for $2.2M

—

Est. refi paymentEst. refi $15,301/mo

•

20,964

sq ft

408 State St, Mankato, MN 56001

About this home

Excellent Investment Opportunity! Updated 23 unit apartment building, 12 - 2 bedroom units and 11 - 1 bedroom units, fully occupied and GREAT rental history. Security building with on-site coin operated laundry, individual storage closets and off street parking. The majority of the units have been updated with new paint, flooring, bathroom and kitchen updates. Common areas have new carpet and paint. New boiler in 2020, updated boiler lines to individual apartments, newer windows. Parking lot was seal coated last fall. Professional managed. Owner is a licensed real estate agent.

Multi-familyProperty Type

1966Year Built

1 acresLot Size

$107Price/Sq.Ft.

Listed by Christa Wolner • Connect Real Estate Group

Bought with Mike Danberry • RE/MAX DYNAMIC AGENTS

Redfin checked: 2 minutes ago

•Source:RASM #7029189

Redfin Estimate

There isn’t enough information to generate an accurate estimate at this time. Learn More

Market trends in 56001, MN

Last updated October 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-list price

98.5%

+0.3% MoM

Median sale price

$315K

$889 MoM

Avg. days on market

34d

6 days MoM

Recently sold homes

133

3 MoM

New listings for sale

NEW 3 HRS AGO
$293,000
2 beds2 baths1,562 sq ft
208 Skylark Dr, Mankato, MN 56001
NEW 23 HRS AGO
$249,900
3 beds2 baths1,245 sq ft
130 Eastwood Dr, Mankato, MN 56001
NEW 26 HRS AGO
$249,900
5 beds3 baths3,472 sq ft
22 Ridgewood St, Mankato, MN 56001
3D WALKTHROUGH
$209,900
2 beds2 baths1,200 sq ft
361 Parry St, Mankato, MN 56001
$209,900
3 beds1 bath1,614 sq ft
321 Marshall St, Mankato, MN 56001
3D WALKTHROUGH
$769,900
4 beds2.5 baths2,528 sq ft
128 Oak Marsh Dr, Mankato, MN 56001
$249,900
2 beds1 bath2,288 sq ft
815 N 4th St, Mankato, MN 56001
$259,900
4 beds4 baths2,536 sq ft
103 Locust St, Mankato, MN 56001
$389,900
4 beds3 baths2,684 sq ft
326 Floral Ave, Mankato, MN 56001
$249,900
3 beds3 baths2,377 sq ft
313 E Lime St, Mankato, MN 56001
See all

Provided by Redfin

Sale history for 408 State St

Date

Event

Price

RASM #7029189

Apr 20, 2022

Sold

$2,250,000

$107/sq ft

Mar 10, 2022

Listed

$1,900,000

$91/sq ft

Public Records

Aug 18, 2020

Sold

$1,360,000

$65/sq ft

RASM #7022761

Jan 10, 2020

Sold

$1,700,000

$81/sq ft

Nov 15, 2019

Listed

$1,850,000

$88/sq ft

+11

Great Investment Opportunity!! Brick 23 unit apartment building, twelve 2 bedroom units and eleven 1 Bedroom units. Amenities to include on site laundry, off street parking and private storage units. Many improvements have recently been made. Heat , water, sewer and trash are included in monthly rent. Great location, close to grocery stores, convenience stores and restaurants. Good rental history! Seller is a licensed real estate agent.

Public Records

Dec 13, 1999

Sold

$579,000

$28/sq ft

Year

Property tax

Land + Additions

Assessment*

2026

$24,840 (+6.4%)

$295,500 + $1,393,300

$1,688,800

2025

$23,356 (−2.9%)

$295,500 + $1,393,300

$1,688,800

2024

$24,056 (+48.0%)

$302,000 + $1,474,600

$1,776,600

2023

$16,254 (−3.6%)

$193,600 + $945,500

$1,139,100

2022

$16,860 (+4.2%)

$185,300 + $904,500

$1,089,800

2021

$16,184 (−5.1%)

$176,500 + $861,900

$1,038,400

2020

$17,056 (−0.2%)

$176,500 + $861,900

$1,038,400

2019

$17,096 (+0.1%)

$176,500 + $861,900

$1,038,400

2018

$17,076 (+3.7%)

$170,400 + $875,000

$1,045,400

2017

$16,462 (+3.8%)

$170,400 + $875,000

$1,045,400

2015

$15,862 (+10.3%)

$165,800 + $851,500

$1,017,300

2014

$14,384 (−6.6%)

$156,500 + $803,500

$960,000

2013

$15,402

$164,400 + $843,900

$1,008,300

Tax history for 408 State St

Year

Property tax

Land + Additions

Assessment*

2026

$24,840 (+6.4%)

$295,500 + $1,393,300

$1,688,800

2025

$23,356 (−2.9%)

$295,500 + $1,393,300

$1,688,800

2024

$24,056 (+48.0%)

$302,000 + $1,474,600

$1,776,600

2023

$16,254 (−3.6%)

$193,600 + $945,500

$1,139,100

2022

$16,860 (+4.2%)

$185,300 + $904,500

$1,089,800

2021

$16,184 (−5.1%)

$176,500 + $861,900

$1,038,400

2020

$17,056 (−0.2%)

$176,500 + $861,900

$1,038,400

2019

$17,096 (+0.1%)

$176,500 + $861,900

$1,038,400

2018

$17,076 (+3.7%)

$170,400 + $875,000

$1,045,400

2017

$16,462 (+3.8%)

$170,400 + $875,000

$1,045,400

2015

$15,862 (+10.3%)

$165,800 + $851,500

$1,017,300

2014

$14,384 (−6.6%)

$156,500 + $803,500

$960,000

2013

$15,402

$164,400 + $843,900

$1,008,300

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Beds

—

Baths

—

Stories

Lot width

—

Lot depth

—

Lot size

1 Acre

Year renovated

—

Sq. Ft.

—

Year built

—

Style

Multi-Family (5+ Unit)

County

Blue Earth County

APN

R010813258014

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Oct 15, 2026.

Property details

Parking

Parking/Garage Information
Parking Features: Asphalt

Interior

Bathroom Information
# of Full Bathrooms: 3

Heating & Cooling
Has Heating
Heating: Natural Gas

Interior Features
Appliances: Refrigerator

Room Information
Has Basement
Basement Details: Finished, Full

Exterior

Exterior Features
Roof: Rubber

Building Information
Above Grade Finished Area: 20,964
Construction Materials: Block, Brick, Metal Siding

Property Information
Property Type: Residential Income
Property Sub Type: Multi Family

Lot Information
Lot Features: Corner Lot
Lot Size Dimensions: 43,560
Lot Size Acres: 1

Financial

Tax Information
Tax Annual Amount: $16,745

Utilities

Utility Information
Water Source: Public
Sewer: Public Sewer

Location

Schools Information
School District: Mankato #77

Location Information
Directions: Corner of Lamm and State Street

Public facts

Beds: —
Baths: —
Sq. Ft.: —
Stories: 3.0
Lot Size: 1 acres
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Blue Earth County
APN: R010813258014

Home facts updated by county records on Oct 15, 2026

Around this home

Schools

K - 12
Preschool & daycare

Jefferson Elementary School

Public K-5 • Assigned • 0.6mi

6/10

Dakota Meadows Junior High School

Public 6-8 • Assigned • 2.4mi

7/10

Mankato West Senior High School

Public 9-12 • Assigned • 0.2mi

8/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

2/10 Heat Factor

7 days above 99° expected this year, 15 days in 30 years

2/10 Wind Factor

Minor risk of severe winds over next 30 years

2/10 Air Factor

1 unhealthy days expected this year, 1 days in 30 years

Provided by First Street

Historical weather

Mankato, MN • 56001

Average low and high temperatures (°F)

24°

7°

32°

14°

51°

29°

59°

38°

72°

49°

80°

61°

84°

66°

79°

61°

77°

56°

64°

46°

45°

31°

14°

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 10.4 hours in June and 3.8 hours in December, which is comparable to the U.S. average for solar exposure.

10.4 hrs

3.8 hrs

JuneDecember

Provided by Shadowmap

Is this your home?

Track this home’s value and nearby sales activity

Nearby similar homes

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Newer-construction • Fully leased • Lvp flooring

New listings for sale in 56001

NEW 3 HRS AGO

$293,000

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One-level living • Large windows • Private patio area

NEW 23 HRS AGO

$249,900

3 beds2 baths1,245 sq ft

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Cul-de-sac • Mature trees • Gas fireplace

NEW 26 HRS AGO

$249,900

5 beds3 baths3,472 sq ft

22 Ridgewood St, Mankato, MN 56001

Quiet street • New roof • Durable steel siding

3D WALKTHROUGH

$209,900

2 beds2 baths1,200 sq ft

361 Parry St, Mankato, MN 56001

Beautiful wood trim • Spacious living room • Large patio

$209,900

3 beds1 bath1,614 sq ft

321 Marshall St, Mankato, MN 56001

Hardwood floors • Tall ceilings • Oversized foyer

3D WALKTHROUGH

$769,900

4 beds2.5 baths2,528 sq ft

128 Oak Marsh Dr, Mankato, MN 56001

Quartz countertops • Inviting fireplace • Abundant storage

$249,900

2 beds1 bath2,288 sq ft

815 N 4th St, Mankato, MN 56001

Two inviting porches • Expansive deck • 4,138 sq ft lot

$259,900

4 beds4 baths2,536 sq ft

103 Locust St, Mankato, MN 56001

Up down duplex • Own washer and dryer • On street parking

$389,900

4 beds3 baths2,684 sq ft

326 Floral Ave, Mankato, MN 56001

Kasota stone • Steel siding • Gas fireplace

Home values near 408 State St

Data from public records.

Address	Redfin Estimate
328 State St, Mankato, MN 3 Beds \| 2 Baths \| 1699 Sq. Ft.	$208,332
327 State St, Mankato, MN 5 Beds \| 2 Baths \| 1996 Sq. Ft.	$256,953
420 State St, Mankato, MN 4 Beds \| 1 Baths \| 1911 Sq. Ft.	$214,699
401 State St, Mankato, MN 3 Beds \| 2 Baths \| 2552 Sq. Ft.	$271,210
316 State St, Mankato, MN 2 Beds \| 2 Baths \| - Sq. Ft.	$170,343
211 Marshall St, Mankato, MN 3 Beds \| 1.5 Baths \| 1386 Sq. Ft.	$227,093
117 Marshall St, Mankato, MN 2 Beds \| 2 Baths \| 1582 Sq. Ft.	$174,819

Address	Redfin Estimate
318 State St, Mankato, MN 3 Beds \| 2 Baths \| 2546 Sq. Ft.	$279,280
411 State St, Mankato, MN 2 Beds \| 1.5 Baths \| 1296 Sq. Ft.	$209,059
321 State St, Mankato, MN 3 Beds \| 1.5 Baths \| 1879 Sq. Ft.	$242,040
319 State St, Mankato, MN 3 Beds \| 3 Baths \| 1768 Sq. Ft.	$227,285
212 Marshall St, Mankato, MN 3 Beds \| 2 Baths \| 3066 Sq. Ft.	$259,238
1023 South Front St, Mankato, MN 2 Beds \| 1.5 Baths \| 1092 Sq. Ft.	$219,646
218 Marshall St, Mankato, MN 4 Beds \| 2.5 Baths \| 1502 Sq. Ft.	$204,793

Address	Redfin Estimate
409 State St, Mankato, MN - Beds \| - Baths \| 1666 Sq. Ft.	$166,026
416 State St, Mankato, MN 4 Beds \| 2 Baths \| 2184 Sq. Ft.	$283,518
417 State St, Mankato, MN 3 Beds \| 1.5 Baths \| 2493 Sq. Ft.	$252,114
322 State St, Mankato, MN 4 Beds \| 1 Baths \| 2406 Sq. Ft.	$246,524
214 Marshall St, Mankato, MN 4 Beds \| 2 Baths \| - Sq. Ft.	$225,372
1029 South Front St, Mankato, MN 4 Beds \| 1.5 Baths \| 2848 Sq. Ft.	$221,178
211 Willard St, Mankato, MN 3 Beds \| 1 Baths \| 1249 Sq. Ft.	$200,543

Property information provided by RASM when last listed in 2022. This data may not match . Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Redfin Estimate

Market trends in 56001, MN

Sale history for 408 State St

Tax history for 408 State St

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Is this your home?

Nearby similar homes

New listings for sale in 56001

Home values near 408 State St

More real estate resources