407 Lake Avenue, Park Rapids, MN 56470
4 Beds | 2 Baths | 1,836 Sq Ft | Single Family Home | MLS# 7091979
M Markdowns — Price Reduced — was $229,900 (↓ $5,000)
Is 407 Lake Avenue a Good Deal?
BuyPulse Verdict
Excellent Value
At $122/sqft — This home is priced 44% below the typical Park Rapids single-family home of $216/sqft.
Your Negotiating Position: 76 — Strong buyer leverage
Powered by the Realgorithm™ — 69 active Park Rapids listings · NorthstarMLS
$1,523/month Estimated
- Principal & interest
- $1,137
- Property taxes
- $232
- Home insurance (est.)
- $131
- Special assessments
- $23
- HOA dues
- None
20% down ($44,980) · 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 Mckinleys Add, Park Rapids, MN.
About This Home
This 4BR 2 Bath home on a beautiful corner lot is just waiting for your family to enjoy. Close to downtown and all that Park Rapids has to offer. Partially fenced in for your children to play in or your pets to exercise in. Detached Pole Building serves as an oversized garage that easily accommodates two vehicles and extra storage or woodworking room. Single oversized door with garage door opener. The lower level of the home is just waiting to be totally finished into additional living space. You will love the storage room with all of its built- in shelving. The bonus room enjoys Commercial Preferred zoning perfect for an at home business or use it for a family room or play room. Even has a chicken coup and a firepit for those smores needs! Don't miss out on this home!
BuyPulse™ — Live Market Read
Homes like this one — single-family homes between $169K and $281K in Park Rapids:
- The field: 16 similar Park Rapids homes for sale — you have options.
- Tempo: homes like this went pending in a median 12 days — 4 of the last 10 inside 4 days.
- Negotiation: 53% of the last 15 sales here closed at or over list — about half hold full price.
Powered by the Realgorithm™ — 15 real Park Rapids closings, zero guesses · NorthstarMLS
Key Features
- Property Type
- Single Family
- Year Built
- 1977
- Above Grade
- 1,536 sq ft
- Below Grade
- 300 sq ft
- Lot Size
- 0.42 acres
- Lot Features
- Corner Lot, Irregular Lot, Tree Coverage - Medium, Underground Utilities
- Garage
- 2-car (Detached Garage, Asphalt, Electric, Garage Door Opener)
- Heating
- Forced Air
- Cooling
- Central Air
- Basement
- Yes
- Appliances
- Dishwasher, Electric Water Heater, Exhaust Fan, Microwave, Range, Refrigerator
- Sewer
- City Sewer/Connected
- Water
- City Water/Connected
- Annual Taxes
- $2,784
- Special Assessments
- $276
- County
- Hubbard
- Days on Market
- 77
407 Lake Avenue is listed in Park Rapids, MN, part of Hubbard County. Browse all Minnesota homes for sale on Modern Market REALTORS®.
Showing — 407 Lake Avenue
Shannon Barnum
Associate Broker · Modern Market REALTORS®
Your Park Rapids real estate expert since 2012 — I represent you, not the seller. Quick to respond, easy to text.
Listed by Edina Realty, Inc. · 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# 7091979 · Data refreshed August 17, 2026
Similar Homes for Sale Near 407 Lake Avenue, Park Rapids, MN
Frequently Asked Questions About 407 Lake Avenue
- Is $224,900 a good price for a home in Park Rapids?
- According to BuyPulse, 407 Lake Avenue rates Excellent Value — at $122/sqft it's priced 44% below the typical Park Rapids single-family home of $216/sqft. Its negotiating-position score is 76/100 (Strong buyer leverage), weighed on days on market, comparable inventory, and how Park Rapids homes are closing versus list. Powered by the Realgorithm™. Browse Park Rapids homes for sale to compare.
- What are the special assessments at 407 Lake Avenue — and what do they mean?
- This property has $276/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 $2,784/yr. Always factor both into your total monthly housing cost before making an offer.
- Does 407 Lake Avenue have a basement?
- Yes, 407 Lake Avenue has a basement with 300 sq ft of below-grade space.
- What type of heating and cooling does 407 Lake Avenue have?
- 407 Lake Avenue has Forced Air heating and Central Air cooling.
- Where is 407 Lake Avenue located?
- 407 Lake Avenue is in the Mckinleys neighborhood of Park Rapids, MN 56470, in Hubbard County.
- Is 407 Lake Avenue still available?
- Yes — 407 Lake Avenue is currently listed as Active on the MLS and accepting showings. Contact us to schedule a tour or make an offer.
- When was 407 Lake Avenue built?
- 407 Lake Avenue was built in 1977. It features block construction and a block foundation.
- Does 407 Lake Avenue have main-floor laundry?
- Yes — the laundry at 407 Lake Avenue is on the main level.
- How walkable is 407 Lake Avenue?
- 407 Lake Avenue has a Walk Score of 56/100 (Somewhat Walkable) and a Bike Score of 58/100 (Somewhat Bikeable). Scores provided by Walk Score® →
- How many homes like 407 Lake Avenue are for sale in Park Rapids?
- 16 similar homes (single-family homes between $169K and $281K in Park Rapids) are for sale right now — you have options.
- How fast do homes like 407 Lake Avenue sell in Park Rapids?
- Homes like this one (single-family homes between $169K and $281K in Park Rapids) went pending in a median 12 days over the last 90 days — 4 of the last 10 went under contract within 4 days.
- Do homes in Park Rapids sell for asking price?
- 53% of the last 15 comparable Park 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 Park Rapids area.