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229 Rainbow Dr, Marshall, MN, 56258

3beds
2baths
2,200sqft
$340,000
$155price/sqft
$2,582/moest. monthly cost
$103,280/yrincome needed

About This Home

Message for an appointment to view. Built in 2000 on a spacious 14,600 foot corner lot, take advantage of the triple wide concrete driveway with additional parking all along the side of the 44’ garage. Concrete mounted basketball hoop with plenty of room for those 3-point shots. This one owner 2,200 square foot home also has a 1,100 square foot double long four cars insulated and heated garage which was extended in 2012 and features an extra wide side door for easy access for lawn mowers and toys. Ample work bench space, shelving, closet space and TV hook up. Enter the kitchen with all appliances including stainless steel French door fridge with ice maker, electric flat-top oven, hood, dishwasher, and conveniently mounted microwave to free up counter space. The included Culligan reverse osmosis drinking water system tastes amazing. From the kitchen, enjoy four split levels with open viewing from the dining / living room, downstairs into the family room. The dining room has had a quality patio door installed in the last few years with internal blinds and dura ceramic tile throughout the kitchen and dining room. The living room connects to the front entrance and closet with a new front door, smart siding, and windows installed in 2012. From the living room, go down ½ level to the larger family room, full bathroom with spa tub/shower, and one of three bedrooms with walk in closet. Going down one more ½ level you will find a spacious office or optional 4th bedroom with under stairs storage and small closet, large laundry room which includes washer, dryer, and deepfreeze, and a nice storage room with built in shelving. Included utilities such as a Marathon lifetime hot water heater, furnace / air conditioning, water softener, heat exchanger, drinking water system, and sump pump. The sump system was improved to include water directed out the back of the house, front of the house, or down drain in the winter. From the main living space go up ½ level to one of three bedrooms with a walk-in closet, full bathroom with storage closet, and the master bedroom with double storage closets. All bathroom fixtures were upgraded recently. Outside there are many established mature trees surrounding a large natural stone raised patio with incorporated flower beds and inset 8-person hot tub which is included with this home. The built-in outdoor TV cabinet provides hours of entertainment for the patio and hot tub area, covered by ferry lights. The hot tub has quick access into the heated garage and patio door for winter enjoyment.

Getting Around

26
WalkingCar-Dependent
0
TransitVery Limited Transit
38
BikeSomewhat Bikeable

Schools

--
6/10
Marshall Middle SchoolGrades 5-81.1 mi
6/10
Marshall High SchoolGrades 9-122.6 mi

Construction

Condition

  • Year built: 2000

Materials

  • Roof: Shake / Shingle

Type & Style

  • Home type: SingleFamily

Interior

Appliances

  • Appliances included: Dishwasher,Dryer,Freezer,Garbage disposal,Microwave,Range / Oven,Refrigerator,Washer

Basement

  • Basement: Finished

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 2
  • Full bathrooms: 2

Features

  • Flooring: Tile,Carpet,Laminate

Interior Area

  • Total interior livable area: 2,200 sqft

Property

Details

  • Parcel number: 277100830

Features

  • Exterior features: Shingle,Wood products
  • Has spa: Yes
  • Has view: Yes
  • View description: City

Lot

  • Lot size: 0.34 Acres

Parking

  • Total spaces: 4
  • Parking features: Garage

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveVery High
  • Inland Flooding
    Inland FloodingVery High
  • Winter Weather
    Winter WeatherVery High
  • Strong Wind
    Strong WindRelatively High
  • Heat Wave
    Heat WaveModerate
  • Ice Storm
    Ice StormModerate
  • Tornado
    TornadoModerate

How This Home’s Risks Compare

Cold Wave
Inland Flooding
Winter Weather
Strong Wind
Heat Wave
Ice Storm
Tornado

FEMA Declared Disasters in Lyon County and Minnesota

Flood
Severe Storm
Straight Line Winds

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $1,719$20,628
Home Insurance *$323$3,876
Property Taxes $355$4,260
Electricity $185$2,226
Total$2,582$30,984
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$88,525/yr
40% on housing$77,460/yr
45% on housing$68,853/yr

Minnesota FAIR Plan Programs

Minnesota FAIR Plan

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 4,160Commercial: 101
Total Premiums$4.54M
Total Exposure$457.44M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 10.4%
10.4%
0%30.0%
Electricity Growth Rate10-year average: 2.7%
2.7%
0%15.0%
Property Taxes Growth Rate2-year average: 2.0%
2.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$155This listing

vs Other Active Listings

Avg $/sqft

ZIP 56258$98
Lyon County$91

vs Homes Sold Last Month

Median $/sqft

ZIP 56258$118
Lyon County$114

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-07-24Listed for sale$340,000
2001-04-01Sold$111,840

For Sale by Owner

AgentProperty Owner

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