Lori Gustafson

221 E Lake Street

Parkers Prairie, MN
$ 114,500 Beds 0 Baths 0
Monthly Estimate* How much can I afford?

Contractor Special — Bring Your Vision! Calling all contractors, investors, and buyers with an eye for potential! Not far from Lake Adley, this home sits on a nice-sized lot and is ready for someone with the vision and creativity to bring it back to life. The hard part has already been started—the demolition has been done, leaving you with a blank canvas ready for its next chapter. The home wasn't taken down to the studs because of a known issue; the owner simply had a vision for transforming the property and was never able to complete it, now, that opportunity is yours! There is plenty of square footage to work with, along with an abundance of windows throughout the home that allow for plenty of natural light and help you envision just how bright and inviting these spaces could become once finished. Previous plans imagined the property as a 4-bedroom, 1-bath home, with the potential to create 5 bedrooms and 2 bathrooms, follow that vision or start fresh and design the layout to fit your own needs—the possibilities are here for you to explore. The uppermost level is especially unique and could make a fantastic study, home office, reading retreat, or bonus space, complete with views of Lake Adley. Whether you're a contractor looking for your next project, an investor searching for an opportunity, or a buyer dreaming of creating a home that's truly your own, this property offers the space and potential to make it happen. Bring your tools, bring your imagination, and make this house a home again! IMPORTANT SHOWING REQUIREMENT: Due to the current condition of the property, anyone entering the home must sign a liability waiver and return it to the listing agent prior to entering the property.

Single Family

  • Price
  • $ 114,500
  • City
  • Parkers Prairie
  • Bedrooms
  • 0
  • Full Bathrooms
  • 0
  • County
  • OTTER TAIL
  • Half Bathrooms
  • 0
  • Area
  • Lot Size
  • 0.31 Acres
  • Zip
  • 56361
  • Year Built
  • 1918
  • Taxes
  • $ 2982
  • Style
  • Single Family
  • MLS#
  • 7124939
Listed By: Randy Fischer Real Estate, Inc
Data Source: Northstar MLS (NSTAR)

Features

General

Sewer City Sewer - In Street
Heating None
Cooling None
Year Built 1918
Levels One and One Half
Property Subtype Single Family
Tax Year 2026
Accessibility None
County Otter Tail
New Construction No
Property Type Residential
HOA No
Contingency None
Directions Hwy 29 N to Lake St E to 221 on Right -
City Parkers Prairie
High School District Parkers Prairie
Zoning Description Residential-Single Family
Lot Size Units Acres
Property Attached Y/N No
Land Lease Y/N No
Tax Annual Amount 2982
Additional Parcels Y/N No
Standard Status Active
Lender Owned No
PostalCity Parkers Prairie

Interior Features

Basement Block
Basement (Y/N) Yes
Fireplace Y/N No
Foundation Dimensions 24 x 29
Fuel Other

Exterior Features

Parking Features Detached Garage
Water Source City Water/Connected
Lot Size Area 0.31
Lot Dimensions 95 x 142
Waterfront Y/N No
Foundation Area 1580
Road Responsibility Public Maintained Road

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Faribault, MN office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

8/14/2026 Listed $114,500

Property vs Zip Code Average in 56361

Price
AVG $200K
$110K
Taxes
AVG $2,942
$2,982
Year Built
AVG 1971
1918
Visits
AVG 22
27
Data Provided by Inside Real Estate®

Areas That We Cover

221 E Lake Street Parkers Prairie, MN is a Single Family Home for sale at $114500 and a lot size of 0.31 Acres Acre(s). 221 E Lake Street Parkers Prairie has 0 bedrooms, 0 baths and was built in 1918. The property's zip code is 56361 which is in Parkers Prairie, MN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Lori Gustafson

Lori Gustafson

Broker Associate/Sales Agent

507-323-4348

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