About This Home

This 6-bedroom, 4-bathroom residential multi family at 450 Murray Avenue in Pine River, MN is listed for $327,900 ($131 per sqft). Built in 1972, the home offers 2,508 sqft of living space on a 1.40 acres lot.

Key Features

  • Built in 1972
  • 1.40 acre lot

Property Details

4 full
2-car garage
1972
Listing Description

INVESTMENT OPPORTUNITY WITH CURRENT RENTAL INCOME + ADDITIONAL POTENTIAL! Take a fresh look at 450 Murray Avenue in Pine River. Three occupied units currently generate seller-reported gross rents of $3,250/month ($39,000 annualized), while Unit 2 is vacant and not included in those income figures, offering additional potential for the next owner.

Current rents are Unit 1: $1,700/month, leased through August 2027; Unit 3: $700/month, month-to-month; and Unit 4: $850/month, month-to-month. The property also has an updated rental license and offers an established tenant base from day one. Features include 6 bedrooms, 4 bathrooms, approximately 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. Convenient Pine River location near downtown, Pine River-Backus Schools, the Paul Bunyan State Trail, and Norway Lake recreational access. Whether you're looking to expand an investment portfolio or step into your first income-producing property, this one deserves a closer look. Rental figures are seller-provided.

Monthly Cost Estimate

$1,754/mo

20% down · 6.5% · 30 years

Principal$237
Interest$1,421
Insurance$96

Estimates only. Actual payments may vary.

Location

450 Murray Avenue

Pine River, MN 56474

Property Details

Construction

Block Frame

Outdoor Features

Deck

Parking

Garage - AttachedDriveway

Heating

BaseboardForced Air

Questions & Answers

This 6-bedroom, 4-bathroom residential multi family at 450 Murray Avenue is listed at $327,900 ($131/sqft). The estimated monthly payment is $1,754 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1972, 1.40 acre lot.

This property is listed by Radames Cruz.

RC

Radames Cruz

Agent at EXP REALTY

Listed by EXP REALTY · Broker phone: (612) 751-9303 · View on Broker Site

MLS# 7130852· Source: Northstar MLS· 66 days on PropertySimple

Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

450 Murray Avenue, Pine River, MN 56474

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