c.1928 Two Bedroom Affordable Minnesota Home Under $49K
OHU50K Notes $48,300
Built in 1928, this affordable Minnesota home features a stucco exterior, new flooring, archways, spacious bathroom, and two bedrooms, along with an attached garage, and city water and sewer.
Realtor Comments
This adorable Spanish Style Bungalow home exudes character, comfort and convenience. Entering the home, buyers will experience newer flooring, an open concept for the living and dining areas, separated by gorgeous archways. There is one bedroom on the main floor and a large 3/4 bathroom with laundry hookups on the main floor as well. Then a person can walk upstairs to a spacious 2nd bedroom which has space for an office or play area. Next to the stairs to go up, is the archway leading to the galley kitchen. The basement is equally spacious and a blank canvas for storage of finishing for additional space to relax or for storage. There is an attached shed or garage with no interior access, you access from the back entrance.
- 2 bed
- 1 bath
- Build date 1928
708 5th Ave, Madison, MN 56256 $48,300
- Contact Realtor: Joleen Marczak
- Google Map
- Niche
Pros
• Highly Affordable
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Median home price is about $80K–122K, over 60% below national average
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Cost of living is ~21–22% lower than both the national and Minnesota averages
• Extremely Low Crime & Very Safe
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Total crime rate ~923/100k—approximately 53% below state average; violent crime near zero; property crime significantly lower
• Strong Housing Market
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Median home appreciation of ~13% last year and over 60% gain in the last decade
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Housing affordability rated A; mortgage cost ~1.8× income .
• Good Schools & Family‑Friendly Vibe
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Public schools graded B by Niche; positive ratings from residents
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Graduation rate ~84%
• Short Commutes & Walkable Downtown
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Average commute under 18 minutes, with many walking to work
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Downtown is compact and walkable with local shops and cultural events
• Active Civic Life & Cultural Events
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Community events include Norsefest, Stinker Days, local theatre, county fair, and festivals at the Prairie Arts Center and museum
Cons
• Limited Job Opportunities
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Median household income is ~$42–45K, about 30–36% below state and national averages
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Employment graded D+ by AreaVibes, though unemployment is low (~1%)
• Fewer Amenities
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Basic services and retail present, but larger grocery stores, healthcare options, and diverse entertainment require travel
• Harsh Winters
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Hot-summer continental climate with extreme winter lows to –36 °F
• Near-Zero Public Transit
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Public transportation usage is minimal (<1%); most errands require a car
• Population Decline & Homogeneity
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Population dropped ~4–5% over five years; limited racial diversity (~C+ on Niche) .
