Is $200,000 a good price for a home in Park Rapids?

According to BuyPulse, 506 Central Avenue S rates Excellent Value — at $162/sqft it's priced 23% below the typical Park Rapids single-family home of $210/sqft. Its negotiating-position score is 80/100 (Strong buyer leverage), weighed on days on market, comparable inventory, and how Park Rapids homes are closing versus list. Powered by the Realgorithm™.

What are the special assessments at 506 Central Avenue S — and what do they mean?

This property has $245/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 $1,379/yr. Always factor both into your total monthly housing cost before making an offer.

What type of heating and cooling does 506 Central Avenue S have?

506 Central Avenue S has Forced Air heating and Central Air cooling.

Where is 506 Central Avenue S located?

506 Central Avenue S is in the Steinmetz & Narys neighborhood of Park Rapids, MN 56470, in Hubbard County.

Is 506 Central Avenue S still available?

Yes — 506 Central Avenue S is currently listed as Active on the MLS and accepting showings. Contact us to schedule a tour or make an offer.

When was 506 Central Avenue S built?

506 Central Avenue S was built in 2001. It features frame, steel siding construction and a permanent, pillar/post/pier foundation.

Does 506 Central Avenue S have main-floor laundry?

Yes — the laundry at 506 Central Avenue S is on the main level.

How walkable is 506 Central Avenue S?

506 Central Avenue S has a Walk Score of 37/100 (Car-Dependent) and a Bike Score of 28/100 (Minimal Bike Infrastructure).

How many homes like 506 Central Avenue S are for sale in Park Rapids?

15 similar homes (single-family homes between $150K and $250K in Park Rapids) are for sale right now — you have options.

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.

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 1 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 2 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 3 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 4 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 5 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 6 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 7 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 8 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 9 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 10 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 11 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 12 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 13 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 14 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 15 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 16 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 17 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 18 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 19 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 20 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 21 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 22 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 23 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 24 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 25 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 26 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 27 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 28 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 29 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 30 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 31 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 32 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 33 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 34 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 35 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 36 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 37 of 38)

2001 single family home for sale at 506 Central Avenue S in Park Rapids, MN — 3 bed, 2 bath (photo 38 of 38)

506 Central Avenue S, Park Rapids, MN 56470

3 Beds | 2 Baths | 1,232 Sq Ft | Single Family Home | MLS# 7097927

Price Drop on M Markdowns — was $215,000 (↓ $15,000)

$200,000

Is 506 Central Avenue S a Good Deal?

BuyPulse Verdict

Excellent Value

At $162/sqft — This home is priced 23% below the typical Park Rapids single-family home of $210/sqft.

Your Negotiating Position

80 — Strong buyer leverage

Day 104 — Park Rapids homes overall typically go under contract by day ~14. This one is past that window.

15 similar homes for sale — alternatives if they won't move.

This seller already cut $15,000 — motivation showing.

$1,263/month Estimated

Principal & interest: $1,011
Property taxes: $115
Home insurance (est.): $117
Special assessments: $20
HOA dues: None

20% down ($40,000) · 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.

Park Rapids, MN Active

Located in Steinmetz & Narys Add, Park Rapids, MN.

About This Home

Refreshed and move-in ready, this 3-bedroom, 2-bath manufactured home offers the perfect blend of comfort, style, and space. Inside, you'll find an updated kitchen, new flooring throughout, updated bathrooms, and fresh paint that gives the entire home a bright, modern feel. The primary suite features its own private bath, creating a comfortable retreat at the end of the day. Step outside to enjoy your morning coffee on the welcoming front deck, while the single garage, carport, storage shed, and additional miscellaneous shed provide plenty of room for vehicles, tools, toys, or even a charming playhouse. Located within the city limits, this property offers the rare bonus of a stunning 1.88-acre corner lot shaded by towering Norway pines and majestic oak trees, giving you the feeling of country living with the convenience of town just minutes away. Home is on city water and city sewer but also has a drilled well for outdoor watering projects. If you've been searching for an affordable home with modern updates and an incredible yard, this one is a must-see!

BuyPulse™ — Live Market Read

Homes like this one — single-family homes between $150K and $250K in Park Rapids:

The field: 15 similar Park Rapids homes for sale — you have options.

Key Features

Built: 2001
Garage: 1-Car Detached
Style: One
HOA: None
Annual Taxes: $1,379 (2026)
Specials/yr: $245

Property Details

Property Type: Single Family
Above Grade Sq Ft: 1,232
Lot Size: 1.88 acres
Basement: No
Roof: Age Over 8 Years, Asphalt, Pitched
Construction: Frame, Steel Siding
County: Hubbard
List Date: 2026-06-30
Days on Market: 104 days
Parcel ID: 325001400

Financial

Total Tax incl. Assessments: $1,624
Specials Pending: No

Home Systems & Utilities

Heating: Forced Air
Cooling: Central Air
Electric: Circuit Breakers
Water: City Water/Connected, Drilled, Private, Well
Sewer: City Sewer/Connected
Appliances: Dishwasher, Disposal, Dryer, Electric Water Heater, Range, Refrigerator, Washer

Interior Features

Laundry: Electric Dryer Hookup, Main Level, Washer Hookup

Construction & Exterior

Construction & Structure

Foundation Type: Permanent, Pillar/Post/Pier
Foundation Area: 1,232 sqft
Total Building Area: 1,232 sqft

Exterior Features

Exterior Features: Vinyl
Pool: Yes
Fenced Area: Yes
Other Structures: Garage(s), Other, Storage Shed
Accessibility Features: No Stairs Internal

Parking & Garage

Carport Spaces: 2
Parking Features: Carport, Detached Garage

Lot & Land

Lot Features: Corner Lot, Tree Coverage - Medium
Road Surface: City Street
Zoning Description: Residential-Single Family

Agent & Office

List Office: Keller Williams Realty Professionals

Price History

Reduced $24,000 (10.7%)

Price reduced to $224,000 — Jul 27, 2026
Price reduced to $215,000 — Aug 28, 2026
Price reduced to $200,000 — Sep 23, 2026

506 Central Avenue S is listed in Park Rapids, MN, part of Hubbard County. Browse all Minnesota homes for sale on Modern Market REALTORS®.

Showing — 506 Central Avenue S

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.

See all Park Rapids homes ›

Listed by Keller Williams Realty Professionals · Shown by Modern Market REALTORS®

Schedule a Home Tour

First-Time Home Buyer Guide for Fargo-Moorhead — ND/MN buyer programs, budgeting, and the 7-step process.

View Full Listing & Photos

MLS# 7097927 · Data refreshed September 23, 2026

Similar Homes for Sale Near 506 Central Avenue S, Park Rapids, MN

See all homes for sale in Park Rapids, MN →

Frequently Asked Questions About 506 Central Avenue S

Is $200,000 a good price for a home in Park Rapids?: According to BuyPulse, 506 Central Avenue S rates Excellent Value — at $162/sqft it's priced 23% below the typical Park Rapids single-family home of $210/sqft. Its negotiating-position score is 80/100 (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 506 Central Avenue S — and what do they mean?: This property has $245/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 $1,379/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 506 Central Avenue S have?: 506 Central Avenue S has Forced Air heating and Central Air cooling.
Where is 506 Central Avenue S located?: 506 Central Avenue S is in the Steinmetz & Narys neighborhood of Park Rapids, MN 56470, in Hubbard County.
Is 506 Central Avenue S still available?: Yes — 506 Central Avenue S is currently listed as Active on the MLS and accepting showings. Contact us to schedule a tour or make an offer.
When was 506 Central Avenue S built?: 506 Central Avenue S was built in 2001. It features frame, steel siding construction and a permanent, pillar/post/pier foundation.
Does 506 Central Avenue S have main-floor laundry?: Yes — the laundry at 506 Central Avenue S is on the main level.
How walkable is 506 Central Avenue S?: 506 Central Avenue S has a Walk Score of 37/100 (Car-Dependent) and a Bike Score of 28/100 (Minimal Bike Infrastructure). Scores provided by Walk Score® →
How many homes like 506 Central Avenue S are for sale in Park Rapids?: 15 similar homes (single-family homes between $150K and $250K in Park Rapids) are for sale right now — you have options.
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.

Listings courtesy of NorthstarMLS as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 10/13/2026, 1:17 AM 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.