509 Payne St
New Ulm, MN 56073
4 bd 2 ba 2,252 sqft Built 1953 Lot 8,276 sqft single_family
Most recent sale
$181,000
Nov 12, 2021
Location
Timeline: Sale, Listing & Tax History
Recorded events
| Date | Event | Price | Source |
|---|---|---|---|
| May 9, 2025 | Sold | $226,000 | NorthstarMLS |
| Feb 14, 2025 | Listed | $219,900 | NorthstarMLS |
| Nov 12, 2021 | Sold | $181,000 | MLS #7028087 |
| Sep 23, 2016 | Sold | $136,000 | MLS #7011930 |
| Jul 8, 2016 | Listed | $139,900 | MLS #7011930 |
| Jun 10, 2009 | Listing removed | $112,900 | Mankato |
| Apr 17, 2009 | Listed | $112,900 | MLS #120339 |
Tax assessment history
| Year | Building | Land | Total assessed | Tax paid |
|---|---|---|---|---|
| 2022 | $84,579 | $27,321 | $111,900 | $1,948 |
| 2021 | $84,484 | $27,316 | $111,800 | $1,926 |
| 2020 | $84,484 | $27,316 | $111,800 | $1,764 |
| 2019 | $75,192 | $25,808 | $101,000 | $1,714 |
| 2018 | $73,981 | $25,719 | $99,700 | $1,604 |
| 2017 | $63,466 | $24,834 | $88,300 | $1,362 |
| 2016 | $51,042 | $23,558 | $74,600 | $1,364 |
| 2015 | $51,591 | $23,609 | $75,200 | $1,332 |
| 2014 | $52,209 | $23,691 | $75,900 | $1,250 |
| 2013 | $52,966 | $21,434 | $74,400 | $1,338 |
| 2012 | $53,519 | $21,481 | $75,000 | $1,248 |
| 2011 | $73,500 | $29,500 | $103,000 | $1,270 |
Property facts
Year built
1953
Property type
single_family
Stories
1
Beds
4
Baths
2
Living area
2,252 sqft
Lot size
8,276 sqft
ZIP code
56073
City
New Ulm
Street
Payne St
Coordinates
44.31436, -94.47266
Comparable properties nearby
Block-level micro-comps
Same street, ±3 house numbers, sold in the last 24 monthsInvestment analysis
Estimates based on local averages — not personalized adviceEstimated monthly rent
$1,086
Gross rental yield
7.20%
Implied cap rate
4.68%
Trend-extrapolated value
—
Frequently asked questions
When did 509 Payne St last sell?
509 Payne St most recently sold on Nov 12, 2021 for $181,000.
What is the current tax assessment for 509 Payne St?
The most recent total assessment for 509 Payne St (year 2022) is $111,900 with $1,948 in property tax.
How does 509 Payne St's assessment compare to its last sale price?
The current assessment is 38.2% below the last sale price of $181,000.
When was 509 Payne St built?
509 Payne St was built in 1953.
How does 509 Payne St compare to others on Payne St?
We track 8 other properties on Payne St. Browse the list under "Other properties on Payne St" to compare beds, baths, and sale history.
What are the property facts for 509 Payne St?
509 Payne St is a 4 bed, 2 bath, 2,252 sqft, 8,276 sqft lot single_family.
Is 509 Payne St a flip candidate?
No — 509 Payne St does not appear in our flips dataset.
Is 509 Payne St a tax-appeal candidate?
No — 509 Payne St is not currently flagged as a tax-appeal candidate.
Forecast for this area
ZIP-area linear projection — not a per-property automated valuationQuarterly trend
+2.0%
Implied 1-yr
+8.1%
2026 Q3
$254.1K
2026 Q4
$258.6K
ZIP 56073 — Median Price History + Forecast
Explore nearby
Geography
Other properties on Payne St