450 Murray Avenue, Pine River, MN 56474 (MLS# 7130852)

450 Murray Avenue, Pine River, MN 56474

New Listing

$334,900

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Property Type: Multi-Family Bedrooms: 6 Baths: 4 Square Footage: 2,508 Lot Size (sq. ft.): 60,984 Status: Active

Current Price: $334,900 List Date: 8/21/2026 Last Modified: 8/22/2026

Overview

Description

**INVESTOR OPPORTUNITY – INCOME-PRODUCING FOURPLEX IN PINE RIVER! ** This 4-unit property has 3 occupied units generating $3,250/month in current gross rental income, or $39,000 annualized, based on seller-provided rents. Current rents: Unit 1 – $1,700/month; Unit 3 – $700/month; Unit 4 – $850/month. Unit 2 is currently vacant and not included in the income figures. Offered at $334,900, the property provides immediate rental income, an established tenant base, and additional upside. Features include 6 bedrooms, 4 bathrooms, approx. 2,508 finished sq. ft., a spacious in-town lot, 2-stall garage, new deck, new kitchen flooring, remote-controlled ceiling fans, and more than $15,000 in recent updates. Conveniently located near downtown Pine River, Pine River-Backus Schools, the Paul Bunyan State Trail, and nearby Norway Lake with public recreational access. Rental figures are seller-provided; buyers and agents to verify rents, leases, expenses, licensing, unit configuration, and me ... (Read more)

Listing Details MLS# 7130852

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1972
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Above Ground SqFt: 1584
Below Grd Total SqFt: 924
Total SqFt: 2508
Foundation Size: Yes
Style: (MF) Four Plex
Total Finished Sqft: 2508.00
Power Company: Minnesota Power
Garage Stalls: 2
Lot Dimensions: irrx326x200x270
Acres: 1.4
Assessment Pending: Unknown
Main Floor Total SqFt: 0

Property Features

Accessible: None Assumable Loan: Not Assumable Basement: Concrete Block; Egress Windows Construction Materials: Block; Frame Construction Status: Previously Owned Electric: 100 Amp Service Exterior: Cement Board Fencing: None Foundation: Concrete Block Fuel: Electric; Natural Gas Heating: Baseboard; Forced Air Internet Options: Fiber Optic Laundry: Main Level Lock Box Type: SentriLock Lot Description: Irregular Lot; Tree Coverage - Light Owner Pays: Gas; Insurance; Lawn; Sewer; Snow Removal; Taxes; Trash Collection; Water Pool Description: None Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Stories: Modified Two Story Tenant Pays: Electricity Topography: Level Unit 1 Cooling: Central Unit 1 Dining Room Description: Informal Dining Room Unit 1 Special Search: 3 BR on One Level Unit 2 Appliances: Microwave; Refrigerator Unit 2 Bath Description: Private Primary Unit 2 Dining Room Description: Kitchen/Dining Room Unit 3 Amenities: Ceiling Fan(s) Unit 3 Appliances: Microwave; Range; Refrigerator Unit 3 Bath Description: Private Primary Unit 3 Dining Room Description: Kitchen/Dining Room Unit 4 Appliances: Stainless Steel Appliances; Microwave; Range; Refrigerator Unit 4 Bath Description: Private Primary Unit 4 Dining Room Description: Kitchen/Dining Room Unit 4 Special Search: All Living Fac. on One Level Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 334900
ListPrice: 334900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 450
Street Name: Murray
Street Suffix: Avenue
Postal City: Pine River
County: Cass
State: MN
Zip Code: 56474

Assessments

Tax With Assessments: 4280
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 1584
Finished SqFt Below Ground: 924

More Information

Income and Expenses

Annual Fuel Expense: 600
Annual Gross Income: 45000
Annual Insurance Expense: 1800
Annual Trash Expense: 420
Annual Water/Sewer Expense: 1656
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Gross Expenses: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Total Annual Expenses: 0

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: GLAR
SentriLock: Yes

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 24x22
Garage Square Feet: 528

Public Survey Info

Range#: 29
Section#: 31
Township#: 138

Unit 1

Furnished?: No
Lease Expiration Date: 2027-08-01
Leased?: Yes
Unit Number: Yes
Annual Rent: 20400
Finished SqFt: 1252
Full Baths: Yes
Monthly Expense: Yes
Monthly Rent: 1700
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: Yes

Unit 2

Furnished?: No
Leased?: No
Level: Below Ground
Unit Number: 2
3/4 Baths: Yes
Finished SqFt: 384
Monthly Expense: Yes
Monthly Rent: 500
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: Yes

Unit 3

Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 3
3/4 Baths: Yes
Annual Rent: 8400
Finished SqFt: 300
Monthly Expense: Yes
Monthly Rent: 700
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: Yes

Unit 4

Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 4
3/4 Baths: Yes
Annual Rent: 10200
Finished SqFt: 408
Monthly Expense: Yes
Monthly Rent: 850
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: Yes

Unit Details

Total Units: 4

Office/Member Info

Association: GLAR

Location, Tax and Other Information

Legal Description: PART OF GOV LOT 6, SEC 31-138-29
Listing City: Pine River
Map Page: 999
Municipality: Pine River
School District: Pine River-Backus
School District Phone: 218-587-4720
Property ID Number: 942313204
Tax Year: 2025
Tax Amount: 4214
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: **INVESTOR OPPORTUNITY – INCOME-PRODUCING FOURPLEX IN PINE RIVER! ** This 4-unit property has 3 occupied units generating $3,250/month in current gross rental income, or $39,000 annualized, based on seller-provided rents. Current rents: Unit 1 – $1,700/month; Unit 3 – $700/month; Unit 4 – $850/month. Unit 2 is currently vacant and not included in the income figures. Offered at $334,900, the property provides immediate rental income, an established tenant base, and additional upside. Features include 6 bedrooms, 4 bathrooms, approx. 2,508 finished sq. ft., a spacious in-town lot, 2-stall garage, new deck, new kitchen flooring, remote-controlled ceiling fans, and more than $15,000 in recent updates. Conveniently located near downtown Pine River, Pine River-Backus Schools, the Paul Bunyan State Trail, and nearby Norway Lake with public recreational access. Rental figures are seller-provided; buyers and agents to verify rents, leases, expenses, licensing, unit configuration, and measurements.
Directions: From 371N continue on to a right on Main St. to a right on Murray Ave, property is on the right.

Accessible

None: Yes

Assumable Loan

Not Assumable: Yes

Basement

Concrete Block: Yes
Egress Windows: Yes

Construction Materials

Block: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Electric

100 Amp Service: Yes

Exterior

Cement Board: Yes

Fencing

None: Yes

Foundation

Concrete Block: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Baseboard: Yes
Forced Air: Yes

Internet Options

Fiber Optic: Yes

Laundry

Main Level: Yes

Lot Description

Irregular Lot: Yes
Tree Coverage - Light: Yes

Owner Pays

Gas: Yes
Insurance: Yes
Lawn: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Patio, Porch and Deck Features

Deck: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Asphalt Shingles: Yes

Sellers Terms

Cash: Yes
Conventional: Yes

Sewer

City Sewer/Connected: Yes

Stories

Modified Two Story: Yes

Topography

Level: Yes

Water

City Water/Connected: Yes

No. of Ranges

Four: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

Electricity: Yes

Unit 1 Cooling

Central: Yes

Unit 1 Dining Room Description

Informal Dining Room: Yes

Unit 1 Special Search

3 BR on One Level: Yes

Unit 2 Appliances

Microwave: Yes
Refrigerator: Yes

Unit 2 Bath Description

Private Primary: Yes

Unit 2 Dining Room Description

Kitchen/Dining Room: Yes

Unit 3 Amenities

Ceiling Fan(s): Yes

Unit 3 Appliances

Microwave: Yes
Range: Yes
Refrigerator: Yes

Unit 3 Bath Description

Private Primary: Yes

Unit 3 Dining Room Description

Kitchen/Dining Room: Yes

Unit 4 Appliances

Stainless Steel Appliances: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes

Unit 4 Bath Description

Private Primary: Yes

Unit 4 Dining Room Description

Kitchen/Dining Room: Yes

Unit 4 Special Search

All Living Fac. on One Level: Yes

Listing Office: eXp Realty

Last Updated: August - 22 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

450 Murray Avenue, Pine River, MN 56474 (MLS# 7130852)