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Welcome to 215 W. Lake Street—a spacious 4-bedroom, 2-bath home with nearly 2,909 sq ft of potential in the heart of Southern Minnesota’s lake country. Built in 1951 on a .23-acre lot, this classic property features an attached 1-car garage and a layout that could easily accommodate a fifth bedroom—just add a closet. Whether you’re looking to flip, hold, or BRRRR, this property ? checks all the boxes for savvy investors.
The home needs work, but the bones are solid and the upside is real. With an ARV estimated around $270,000 and an 𝐚𝐬𝐤𝐢𝐧𝐠 𝐩𝐫𝐢𝐜𝐞 𝐨𝐟 𝐣𝐮𝐬𝐭 $𝟏𝟐𝟐,𝟓𝟎𝟎, there’s plenty of room to create equity. Cosmetic updates and layout tweaks will go a long way in maximizing value here.
Located just minutes from Lake Tetonka, Sakatah State Park, and Waterville’s charming downtown, this home offers small-town appeal with big investment potential. Waterville is known for its peaceful lakeside living, outdoor recreation, and tight-knit community vibe—perfect for buyers looking to escape the city or enjoy a weekend getaway property.
Please note, the property is currently occupied but will be vacant prior to closing. 𝐃𝐎 𝐍𝐎𝐓 𝐃𝐈𝐒𝐓𝐔𝐑𝐁 the occupants or walk the property without prior consent. A $5,000 𝒏𝒐𝒏-𝒓𝒆𝒇𝒖𝒏𝒅𝒂𝒃𝒍𝒆 earnest money deposit is due upon signing the purchase agreement and will be held in escrow with West Title, who will also handle both sides of the closing.