Lori Gustafson

30973 Rasmussen Road

Pequot Lakes, MN
$ 429,999 Beds 5 Baths 3 Sq 2,154
Monthly Estimate* How much can I afford?

Downtown Pequot Lakes — Turnkey, Fully Furnished Home with Proven Rental Income. Beautifully renovated and fully furnished 5BR/3BA home with 3-car garage, ideally located just one block from downtown Pequot Lakes. This turnkey property offers a unique opportunity for an investor, second-home buyer, or full-time resident. Originally renovated with a $200K+ investment, the property has continued to receive improvements since October 2024, including a brand-new exterior AC unit, air exchanger, professional landscaping, and numerous cosmetic updates. The spacious interior features vaulted ceilings, a generous primary suite with private bath, updated bathrooms, quartz countertops, upgraded lighting and fixtures, and a well-appointed kitchen. Enjoy the large deck, private backyard, and inviting front porch. Home is being sold fully furnished with high-end furnishings, décor, appliances, and household items. Strong rental history: approximately $40,000 in rental income in 2025 through a combination of long-term and Airbnb rentals. The property is on track for approximately $40,000 in 2026 through a long-term rental. Current tenant is leased through May 31, 2027, providing established rental income for the new owner. Rental demand has been strong, with four prospective tenants expressing interest within 72 hours when the property was offered for rent. Enjoy the convenience of being just one block from downtown, with restaurants, churches, shops, schools, and everyday amenities within easy walking distance. Families will appreciate the proximity to Pequot Lakes schools, including highly regarded Pequot Lakes High School. Outdoor enthusiasts will enjoy nearby access to the Paul Bunyan Trail, offering approximately 115 miles of trails for biking and snowmobiling. Highway 371 is just minutes away for convenient access throughout the Brainerd Lakes Area. Turnkey. Fully furnished. Updated. Income-producing. Leased through May 2027. Exceptional downtown location. A rare opportunity to own a versatile property with proven rental performance and immediate income already in place.

Single Family

  • Price
  • $ 429,999
  • City
  • Pequot Lakes
  • Bedrooms
  • 5
  • Full Bathrooms
  • 3
  • County
  • CROW WING
  • Half Bathrooms
  • 0
  • Area
  • COLES PLAT OF PEQUOT
  • Lot Size
  • 0.31 Acres
  • Zip
  • 56472
  • Sqr Footage
  • 2,154
  • Year Built
  • 1985
  • Taxes
  • $ 2717
  • Style
  • Single Family
  • MLS#
  • 7140632
Listed By: Edina Realty, Inc.
Data Source: Northstar MLS (NSTAR)

Features

General

Living Area 2154
Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air
Roof Age 8 Years or Less,Asphalt
Appliances Dishwasher,Dryer,Electric Water Heater,Microwave,Range,Refrigerator,Stainless Steel Appliances,Washer
Garage Spaces 3
Construction Materials Frame
Year Built 1985
Electric Circuit Breakers,200+ Amp Service
Levels Split Entry (Bi-Level)
Property Subtype Single Family
Tax Year 2026
Accessibility None
County Crow Wing
New Construction No
Property Type Residential
HOA No
Contingency None
Subdivision Name COLES PLAT OF PEQUOT
Full Baths 1
Directions This home is located at the corner of Rasmussen Road and Butler Street.
City Pequot Lakes
High School District Pequot Lakes
Zoning Description Business/Commercial,Residential-Multi-Family
Lot Size Units Acres
Property Attached Y/N No
Land Lease Y/N No
Tax Annual Amount 2717
Additional Parcels Y/N No
Standard Status Active
Lender Owned No
Amenities Unit Deck,Porch
PostalCity Pequot Lakes

Interior Features

Basement Block,Egress Window(s),Finished,Full,Walkout
Basement (Y/N) Yes
Fireplace Y/N No
Above Grade Finished Area 1104
3/4 Baths 2
Laundry Features Lower Level,Laundry Room
Total Bedrooms 5
Below Grade Finished Area 1050
Total Baths 3
Bath Desc 3/4 Primary,Full Basement,Main Floor Full Bath
Foundation Dimensions 24' x 46'
Fuel Natural Gas
Garage Dimensions 22' x 36'
Garage Square Feet 792

Exterior Features

Parking Features Detached Garage,Asphalt,Electric,Garage Door Opener
Water Source City Water/Connected
Lot Size Area 0.31
Building Area Total 2208
Lot Dimensions 101x129x100x144
Waterfront Y/N No
Foundation Area 1104
Road Frontage Type City Street,Curbs,Paved Streets,Street Lights
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

9/11/2026 Listed $429,999

Property vs Zip Code Average in 56472

Price
AVG $670K
$430K
Taxes
AVG $2,601
$2,717
Year Built
AVG 2003
1985
Visits
AVG 83
9
Data Provided by Inside Real Estate®

Areas That We Cover

30973 Rasmussen Road Pequot Lakes, MN is a Single Family Home for sale at $429999 with 2154 sqft and a lot size of 0.31 Acres Acre(s). 30973 Rasmussen Road Pequot Lakes has 5 bedrooms, 3 baths and was built in 1985. The property's zip code is 56472 which is in Pequot Lakes, 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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