185 Peterson Road, Grand Rapids, MN 55744
3 Beds | 2 Baths | 1,248 Sq Ft | Single Family Home | MLS# 7124271
M Markdowns — Price Reduced — was $296,000 (↓ $21,000)
Is 185 Peterson Road a Good Deal?
BuyPulse Verdict
Premium Pricing
At $220/sqft — This home is priced 14% above the typical Grand Rapids single-family home of $193/sqft.
Your Negotiating Position
92 — Strong buyer leverage
Day 63 — similar homes typically go under contract by day ~20. This one is past that window.
44% of recent sales closed at or over asking — about half hold full price.
12 similar homes for sale — alternatives if they won't move.
This seller already cut $21,000 — motivation showing.
Powered by the Realgorithm™ — 84 active Grand Rapids listings · NorthstarMLS
$1,709/month Estimated
- Principal & interest
- $1,391
- Property taxes
- $151
- Home insurance (est.)
- $160
- Special assessments
- $7
- HOA dues
- None
20% down ($55,000) · 30-yr fixed, 6.5% · Can I afford this home?
Includes special assessments — the FM-metro cost most portals leave out. Estimates only; confirm before you offer.
About This Home
Charming one-level home located on the edge of Grand Rapids. This 3-bedroom, 1.75-bath home has been extensively updated throughout the interior and is move-in ready. The open-concept layout features a custom kitchen, updated bathrooms, and comfortable one-level living. Outside, you’ll find a 30x40 shop with a full second level, currently used for storage but offering plenty of potential for other uses. Situated on 1 acre with a large backyard, there’s plenty of room for kids, pets, and outdoor activities. If you’re looking for move-in-ready, low-maintenance one-level living just minutes from Grand Rapids, come take a look!
BuyPulse™ — Live Market Read
Homes like this one — ramblers between $206K and $344K in Grand Rapids:
- The field: 12 similar Grand Rapids homes for sale — you have options.
- Tempo: homes like this went pending in a median 20 days — 1 of the last 10 inside 4 days.
- Negotiation: 44% of the last 18 sales here closed at or over list — about half hold full price.
Powered by the Realgorithm™ — 18 real Grand Rapids closings, zero guesses · NorthstarMLS
Key Features
- Built
- 1940
- Garage
- 4-Car Detached
- Style
- One
- HOA
- None
- Annual Taxes
- $1,817 (2026)
- Specials/yr
- $81
Property Details
- Property Type
- Single Family
- Above Grade Sq Ft
- 1,248
- Lot Size
- 1 acres
- Basement
- No
- County
- Itasca
- List Date
- 2026-08-10
- Days on Market
- 63 days
- Parcel ID
- 910054413
Financial
- Total Tax incl. Assessments
- $1,898
- Specials Pending
- No
Home Systems & Utilities
- Heating
- Forced Air, Outdoor Boiler
- Cooling
- None
- Water
- Sand Point
- Sewer
- Private Sewer
Interior Features
- Laundry
- Main Level
Construction & Exterior
Construction & Structure
- Foundation Type
- Slab
- Foundation Area
- 1,248 sqft
- Total Building Area
- 1,248 sqft
Exterior Features
- Exterior Features
- Vinyl
- Accessibility Features
- Other
Parking & Garage
- Parking Features
- Detached Garage, Paved Lot
Lot & Land
- Zoning Description
- Residential-Single Family
Agent & Office
- List Office
- MN DIRECT PROPERTIES
Price History
- Price reduced to $275,000 — Sep 23, 2026
185 Peterson Road is listed in Grand Rapids, MN, part of Itasca County. Browse all Minnesota homes for sale on Modern Market REALTORS®.
Showing — 185 Peterson Road
Associate Broker · Modern Market REALTORS®
Your Grand Rapids real estate expert since 2012 — I represent you, not the seller. Quick to respond, easy to text.
Listed by MN DIRECT PROPERTIES · Shown by Modern Market REALTORS®
First-Time Home Buyer Guide for Fargo-Moorhead — ND/MN buyer programs, budgeting, and the 7-step process.
View Full Listing & PhotosMLS# 7124271 · Data refreshed September 23, 2026
Similar Homes for Sale Near 185 Peterson Road, Grand Rapids, MN
Frequently Asked Questions About 185 Peterson Road
- Is $275,000 a good price for a home in Grand Rapids?
- According to BuyPulse, 185 Peterson Road rates Premium Pricing — at $220/sqft it's priced 14% above the typical Grand Rapids single-family home of $193/sqft. Its negotiating-position score is 92/100 (Strong buyer leverage), weighed on days on market, comparable inventory, and how Grand Rapids homes are closing versus list. Powered by the Realgorithm™. Browse Grand Rapids homes for sale to compare.
- What are the special assessments at 185 Peterson Road — and what do they mean?
- This property has $81/yr in annual special assessments, with no specials pending. Special assessments are separate from property taxes — they are charges levied by the city for infrastructure improvements like streets, water, sewer, and sidewalks. Annual property taxes are $1,817/yr. Always factor both into your total monthly housing cost before making an offer.
What special assessments cost in Fargo-Moorhead — live figures on every home for sale.
- What type of heating and cooling does 185 Peterson Road have?
- 185 Peterson Road has Forced Air, Outdoor Boiler heating and None cooling.
- Where is 185 Peterson Road located?
- 185 Peterson Road is in Grand Rapids, MN 55744, in Itasca County.
- Is 185 Peterson Road still available?
- Yes — 185 Peterson Road is currently listed as Active on the MLS and accepting showings. Contact us to schedule a tour or make an offer.
- When was 185 Peterson Road built?
- 185 Peterson Road was built in 1940. It features a slab foundation.
- Does 185 Peterson Road have main-floor laundry?
- Yes — the laundry at 185 Peterson Road is on the main level.
- How walkable is 185 Peterson Road?
- 185 Peterson Road has a Walk Score of 5/100 (Car-Dependent) and a Bike Score of 25/100 (Minimal Bike Infrastructure). Scores provided by Walk Score® →
- How many homes like 185 Peterson Road are for sale in Grand Rapids?
- 12 similar homes (ramblers between $206K and $344K in Grand Rapids) are for sale right now — you have options.
- How fast do homes like 185 Peterson Road sell in Grand Rapids?
- Homes like this one (ramblers between $206K and $344K in Grand Rapids) went pending in a median 20 days over the last 90 days — 1 of the last 10 went under contract within 4 days.
- Do homes in Grand Rapids sell for asking price?
- 44% of the last 18 comparable Grand Rapids sales closed at or over list price — about half hold full price. Based on real NorthstarMLS closings, not estimates.
- What does "M Markdowns" mean?
- M Markdowns™ is Modern Market REALTORS®’ real estate tracker of homes for sale with verified MLS price reductions across the Fargo-Moorhead metro and Minnesota lake country. Every reduction is sourced directly from NorthstarMLS — minimum $2,000 drop to filter noise.
- What does "BuyPulse" mean?
- BuyPulse™ is Modern Market REALTORS®’ live market-data brand for Fargo-Moorhead: cohort statistics — homes for sale, median days to pending, and share of sales closing at or over list price — computed from real NorthstarMLS closings, not estimates.
- What does "Realgorithm™" mean?
- The Realgorithm™ is Modern Market REALTORS®’ proprietary market-data engine — it computes every BuyPulse verdict from real NorthstarMLS closings (comparable active inventory, median days to pending, and sale-to-list price ratio) rather than an automated online estimate.
Local Companies to Help You Settle In
From inspection to closing to moving day, here are well-known local companies serving the Grand Rapids area.
Listings courtesy of NorthstarMLS as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 10/12/2026, 9:58 PM CDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively 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.