MN | coup - 12/1/2024 13:11
26.5 acres with 3 acre pond, rest pretty much trees. 32x45 pole building, Cabin with central- heat air, 1 bedroom, bathroom, kitchen, dining area that seats 25-30.
Sold for $457,000 about 2 months ago on online auction. Was four bidders @ $400,000 plus.
@ 4-5% money cost, electric bill , rural water bill, Re tax, insurance, and upkeep = $25-$30,000 year = $2,000-$2,500 month = $5-$600 week = $75 a day ownership cost. Hard for me to wrap my head around what folks are willing to pay to pleasure themselves.
300 acres with 170 acres tillable that surrounds the 26.5 acres on 3 sides sold in 1978 for $151,500 with 65 acres of standing corn. Comparing the two sales shows how worthless $s have become over the last 45 plus years.
Put that cabin on a lake with a name in Ottertail county Minn add another $500,000 to the price tag, the land around it will be irrigated sand raising potatoes for Mickey D’s French fries;) |
This will raise the cost of living, pretty much a money pit
