# 229 Locke Street, Mankato, MN 56001

> **TL;DR:** 4bd/2ba residential multi family, $250,000, built 1890. Est. $1,337/mo. Listed 4 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $250,000 |
| Bedrooms | 4 |
| Bathrooms | 1 full |
| Year Built | 1890 |
| Lot Size | 8,276 sqft (0.19 acres) |
| Stories | 2 |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 4 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $1,264 |
| Estimated Insurance | $73 |
| **Total** | **$1,337** |

## Property Highlights

- Built in 1890
- 0.19 acre lot
- 2 stories

## Description

### Agent Description
5 unrelated Rental license - Rare investment opportunity knocks! Attractive cap rate potential($2000-2500/month) at current list price. Tenants have paid all utilities in the past! Excellent opportunity for investors seeking immediate cash flow. Property offers tenant appeal, with its location to MSU/Bethany/Downtown Mankato, and a price point difficult to find in today's multifamily market. Whether adding to an existing portfolio or entering multifamily investing for the first time, this property offers potential solid income, long-term appreciation potential, and demand in this area. Attractive price point,5 off street parking spots, central location, 4 Bedrooms, a large kitchen/dining/& living areas, as well as versatile occupancy options make this a property you won't want to miss! Close in time for Fall Semester!!

## Location

- **Address:** 229 Locke Street, Mankato, MN 56001
- **County:** Blue Earth County
- **Coordinates:** 44.157155, -94.004716
- **Google Maps:** https://www.google.com/maps?q=44.157155,-94.004716

## Listing Agent

- **Name:** Rachael Hansen-Miller
- **Brokerage:** Keller Williams Premier Realty
- **Phone:** 5073823815

## Primary Photo

![229 Locke Street - Primary Photo](http://lh.rdcpix.com/2f09ebfd61d361b9e0ad75508a0f6aa1l-f1069559747r.jpg)

*16 total photos available on [listing page](https://www.propertysimple.ai/listing/229-locke-street-mankato-mn-56001-67040989)*

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**MLS#:** 267040989 | **Updated:** 2026-08-01
**Source:** listhub

*Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.ai/listing/229-locke-street-mankato-mn-56001-67040989)

---

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  "name": "229 Locke Street, Mankato, MN 56001",
  "description": "5 unrelated Rental license - Rare investment opportunity knocks! Attractive cap rate potential($2000-2500/month) at current list price. Tenants have paid all utilities in the past! Excellent opportunity for investors seeking immediate cash flow. Property offers tenant appeal, with its location to MSU/Bethany/Downtown Mankato, and a price point difficult to find in today's multifamily market. Whether adding to an existing portfolio or entering multifamily investing for the first time, this proper",
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