48475 197th Avenue, McGregor, MN 55760
2 Beds | 2 Baths | 832 Sq Ft | Single Family Home | MLS# 7078379
Price Drop on M Markdowns — was $519,900 (↓ $10,000)
Is 48475 197th Avenue a Good Deal?
BuyPulse Verdict
Premium Pricing
At $613/sqft — This home is priced 109% above the typical McGregor single-family home of $293/sqft.
Powered by the Realgorithm™ — 32 active McGregor listings · NorthstarMLS
$3,065/month Estimated
- Principal & interest
- $2,578
- Property taxes
- $185
- Home insurance (est.)
- $297
- Special assessments
- $5
- HOA dues
- None
20% down ($101,980) · 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.
Located in Sheshebe Point, McGregor, MN.
About This Home
Set along 50 feet of hard-sand shoreline on Lake Minnewawa, this 2020-built home keeps lake living simple in all the right ways. The one-level layout is comfortable and easy to settle into, with 2 bedrooms and 2 bathrooms, including a primary suite with a walk-in closet and private bath. The main living spaces feel open and bright without being oversized, and everything throughout the home has been exceptionally well kept. An attached garage handles parking and storage, while the additional 24x 36 detached garage and storage shed give you extra space for projects, tools or toys. Down by the water, the lakeside shed is a feature you do not often find and makes it easy to keep chairs, fishing gear, and lake essentials close to the shoreline instead of hauling everything back and forth. From the shoreline to the condition of the home itself, this property has been clearly cared for and is ready for its next chapter without a long to-do list waiting for you.
3D Home Tour
BuyPulse™ — Live Market Read
Homes like this one — single-family homes between $382K and $637K in McGregor:
- The field: 8 similar McGregor homes for sale — a short list right now.
Powered by the Realgorithm™ — real McGregor closings, zero guesses · NorthstarMLS
Key Features
- Property Type
- Single Family
- Year Built
- 2020
- Above Grade
- 832 sq ft
- Lot Size
- 0.54 acres
- Lot Features
- Accessible Shoreline
- Garage
- 2-car (Attached Garage, Detached Garage, Gravel, Asphalt, Finished Garage, Heated Garage)
- Heating
- Forced Air
- Cooling
- Central Air
- Basement
- Yes
- Appliances
- Dishwasher, Dryer, Fuel Tank - Owned, Range, Refrigerator, Washer
- Sewer
- Septic System Compliant - Yes, Tank with Drainage Field
- Water
- Drilled, Well
- Annual Taxes
- $2,225
- Special Assessments
- $65
- County
- Aitkin
- Days on Market
- 99
48475 197th Avenue is listed in McGregor, MN, part of Aitkin County. Browse all Minnesota homes for sale on Modern Market REALTORS®.
Showing — 48475 197th Avenue
Shannon Barnum
Associate Broker · Modern Market REALTORS®
Your McGregor real estate expert since 2012 — I represent you, not the seller. Quick to respond, easy to text.
Listed by Statement Realty · Shown by Modern Market REALTORS®
Buying a home in McGregor? — dedicated buyer representation from pre-approval through closing.
View Full Listing & PhotosMLS# 7078379 · Data refreshed August 4, 2026
Similar Homes for Sale Near 48475 197th Avenue, McGregor, MN
Frequently Asked Questions About 48475 197th Avenue
- Is $509,900 a good price for a home in McGregor?
- According to BuyPulse, 48475 197th Avenue rates Premium Pricing — at $613/sqft it's priced 109% above the typical McGregor single-family home of $293/sqft. Powered by the Realgorithm™. Browse McGregor homes for sale to compare.
- What are the special assessments at 48475 197th Avenue — and what do they mean?
- This property has $65/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 $2,225/yr. Always factor both into your total monthly housing cost before making an offer.
- Does 48475 197th Avenue have a basement?
- Yes, 48475 197th Avenue has a basement.
- What type of heating and cooling does 48475 197th Avenue have?
- 48475 197th Avenue has Forced Air heating and Central Air cooling.
- Where is 48475 197th Avenue located?
- 48475 197th Avenue is in the Sheshebe Point neighborhood of McGregor, MN 55760, in Aitkin County.
- Is 48475 197th Avenue still available?
- Yes — 48475 197th Avenue is currently listed as Active on the MLS and accepting showings. Contact us to schedule a tour or make an offer.
- When was 48475 197th Avenue built?
- 48475 197th Avenue was built in 2020. It features post and beam, frame construction, a metal roof, and a slab, wood foundation.
- Does 48475 197th Avenue have main-floor laundry?
- Yes — the laundry at 48475 197th Avenue is on the main level.
- How many homes like 48475 197th Avenue are for sale in McGregor?
- 8 similar homes (single-family homes between $382K and $637K in McGregor) are for sale right now — a short list right now.
- 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 McGregor area.