c.1910 Minnesota Fixer Upper – Cheapest Home of the Day Under $20K

Inexpensive flipper, rental or for yourself, one bedroom, one bathroom.

• 1bd
• 1ba
• 596sqft
• 1,307sqft lot
• Circa 1910

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If interested in a property, please contact the realtor whose link is provided in the post below, or contact an agent of your own choosing. Independent verification of details and status is recommended. 

Contact Realtor: Caitlin Lung

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Pros of Living in Mountain Iron, MN

• Highly Affordable Real Estate & Housing: Home prices sit well below state and national averages, making single-family homes and acreage far more accessible than in Minnesota’s larger metropolitan areas.

   

• Exceptional Outdoor Recreation: Mountain Iron sits along the 130+ mile Mesabi Trail (popular for biking and snowmobiling) and is surrounded by dense forests, lakes, and reclaimed mine pits stocked with clear water for swimming, kayaking, and trout fishing (such as Mott Pit).

   

• Convenient Access to Regional Amenities: Unlike many isolated rural towns, Mountain Iron borders Virginia, MN, giving residents quick, 5-to-10-minute access to big-box stores (Walmart, Target, Menards), restaurants, and regional medical facilities.

   

• Solid Local Industry Jobs: Home to U.S. Steel’s Minntac facility, the area provides high-paying industrial, trade, and engineering career opportunities that are rare in towns of this size.

   

• Safe, Quiet Small-Town Atmosphere: Crime rates run significantly lower than national averages, fostering a peaceful, close-knit neighborhood feel across its distinct residential sections (like Old Town and South Grove).

   

Cons of Living in Mountain Iron, MN

• Harsh, Long Winter Climate: Located in far northern Minnesota, winters bring extended periods of sub-zero temperatures, heavy snowfall, and high home-heating costs from November through April.

• Economic Dependence on Mining: The local economy and tax base heavily rely on the taconite and mining sector.Fluctuations in the global steel market or mining industry downturns can directly impact local employment.

   

• Industrial Presence & Environmental Factors: Living close to active taconite processing plants and open-pit mining operations means occasional industrial noise, heavy machinery traffic, and airborne dust depending on wind direction.

• Lack of Independent Nightlife & Shopping: The town center itself is very small and quiet. Residents rely entirely on neighboring towns for entertainment, culture, or varied dining.

• Distance to Major Urban Centers: Mountain Iron is roughly a 1-hour drive from Duluth and nearly 3.5 hours from the Minneapolis–St. Paul metro area, making travel to international airports or major urban hubs a significant trip.