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504 7th St NW, Faribault, MN, 55021

5beds
3baths
4,326sqft
$359,000
$83price/sqft
$2,770/moest. monthly cost
$110,800/yrincome needed

About This Home

Introducing a magnificent Victorian home, deeply rooted in the history of Faribault and recognized as one of the iconic “Gallagher Homes” designed by the long time state architect C.H. Johnston. This regal residence features 6 generously sized bedrooms and 2 elegant bathrooms, all nestled on a sprawling oversized double corner lot that offers an abundance of outdoor space. As you approach this enchanting property, you are greeted by a charming, large front porch, perfect for relaxing on summer days. The inviting wooden front door opens into a grand foyer that beckons you into the expansive great room and living area, where you’ll discover a breathtaking fireplace, exquisite stained glass windows, and stunning hardwood floors that reflect the home's timeless elegance. Double pocket doors gracefully separate the grand living area from the formal dining room, a space that showcases intricate woodwork and a gorgeous built-in hutch, perfect for displaying treasured China. The adjoining butler's pantry offers ample storage and convenience, leading you seamlessly into a beautifully updated kitchen. This culinary haven boasts an abundance of cabinet space, sleek stainless steel appliances, and an efficient pantry room to accommodate all your kitchen essentials. As you continue to explore the main level, you’ll find a delightful three-season screened porch, an ideal spot for savoring warm summer evenings while surrounded by nature. Also, a convenient half bathroom and a comfortable bedroom, perfect for guests or family members seeking privacy and relaxation. Venture upstairs to discover a retreat featuring 4 spacious bedrooms, each offering ample natural light and comfort. The layout includes a generous landing area, a full bathroom, and a thoughtfully located large laundry room, along with a cozy sleeping porch that provides an intimate escape. You'll also appreciate the framed reproductions of the original blueprints displayed on the landing, telling a story of the home’s rich heritage. The third floor reveals yet another expansive bedroom, coupled with a versatile bonus room that can serve multiple purposes, such as a home office, playroom, or additional guest space. Descend into the basement, where an expansive family room awaits, perfectly suited for lively game nights or cozy movie marathons. This level includes laundry hookups in one of the three storage rooms and features a fur safe, blending practicality with peace of mind. The property is surrounded by a lovely rail fence, enhancing its stately charm and providing an added sense of privacy. Completing this extraordinary home is a 4-stall garage, cleverly converted from a historic dairy barn, offering generous upper-level storage and a unique character that ties back to the property’s rich past. This stunning home is a rare gem, offering a blend of historic grandeur and modern convenience. It truly needs to be seen in person to be fully appreciated—call today to experience a piece of Faribault history before it’s gone!

Getting Around

72
WalkingVery Walkable
0
TransitVery Limited Transit
48
BikeSomewhat Bikeable

Schools

6/10
2/10
Faribault Middle SchoolGrades 6-81.9 mi
4/10

Construction

Condition

  • Year built: 1905

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family

Interior

Appliances

  • Appliances included: Dishwasher,Dryer,Microwave,Range,Refrigerator,Washer
  • Laundry features: Laundry Room,Upper Level

Basement

  • Has basement: Yes
  • Basement: Block,Daylight,Finished

Bedroom

  • Level: Main
  • Area: 144
  • Dimensions: 12x12

Bedroom2

  • Level: Upper
  • Area: 195
  • Dimensions: 13x15

Bedroom3

  • Level: Upper
  • Area: 195
  • Dimensions: 13x15

Bedroom4

  • Level: Upper
  • Area: 120
  • Dimensions: 10x12

Bedroom5

  • Level: Upper
  • Area: 110
  • Dimensions: 10x11

Bedrooms & Bathrooms

  • Bedrooms: 5
  • Bathrooms: 3
  • Full bathrooms: 1
  • 3/4 bathrooms: 1
  • 1/2 bathrooms: 1

Bonus Room

  • Level: Lower
  • Area: 195
  • Dimensions: 13x15

Deck

  • Level: Main
  • Area: 270
  • Dimensions: 15x18

Dining Room

  • Level: Main
  • Area: 195
  • Dimensions: 13x15

Family Room

  • Level: Main
  • Area: 336
  • Dimensions: 21x16

Family Room

  • Level: Lower
  • Area: 930
  • Dimensions: 30x31

Features

  • Number of fireplaces: 2
  • Fireplace features: Living Room,Primary Bedroom
  • Fireplace: Yes
  • Finished area below ground: 1,443
  • Finished area above ground: 2,883

Foyer

  • Level: Main
  • Area: 28
  • Dimensions: 4x7

Heating & Cooling

  • Heating features: Fireplace(s),Hot Water
  • Cooling features: Window Unit(s)

Interior Area

  • Total structure area: 4,326
  • Total interior livable area: 4,326 sqft

Kitchen

  • Level: Main
  • Area: 143
  • Dimensions: 11x13

Laundry

  • Level: Lower
  • Area: 143
  • Dimensions: 11x13

Living Room

  • Level: Main
  • Area: 224
  • Dimensions: 14x16

Mud Room

  • Level: Main
  • Area: 49
  • Dimensions: 7x7

Other

  • Level: Main
  • Area: 88
  • Dimensions: 8x11

Other

  • Level: Upper
  • Area: 154
  • Dimensions: 7x22

Porch

  • Level: Main
  • Area: 288
  • Dimensions: 8x36

Porch

  • Level: Main
  • Area: 99
  • Dimensions: 9x11

Storage

  • Level: Lower
  • Area: 171
  • Dimensions: 9x19

Workshop

  • Level: Lower
  • Area: 90
  • Dimensions: 9x10

Property

Accessibility

  • Accessibility features: None

Details

  • Parcel number: 1830375091
  • Zoning description: Residential-Single Family
  • Foundation area: 1443

Features

  • Levels: More Than 2 Stories
  • Patio & porch: Front Porch,Patio
  • Fencing: Split Rail

Lot

  • Lot size: 0.50 Acres
  • Features: Corner Lot
  • Lot size dimensions: 132 x 165

Parking

  • Total spaces: 4
  • Parking features: Attached,Asphalt,Floor Drain,Garage Door Opener
  • Has garage: Yes
  • Attached garage spaces: 4
  • Covered spaces: 4
  • Has uncovered spaces: Yes

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

  • Hail
    HailVery High
  • Inland Flooding
    Inland FloodingVery High
  • Strong Wind
    Strong WindVery High
  • Tornado
    TornadoVery High
  • Cold Wave
    Cold WaveRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Heat Wave
    Heat WaveModerate
  • Ice Storm
    Ice StormModerate
  • Lightning
    LightningModerate

How This Home’s Risks Compare

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

FEMA Declared Disasters in Rice 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 $1,815$21,780
Home Insurance *$250$3,000
Property Taxes $341$4,092
Electricity $364$4,378
Total$2,770$33,240
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$94,971/yr
40% on housing$83,100/yr
45% on housing$73,866/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: 10.8%
10.8%
0%30.0%
Electricity Growth Rate10-year average: 2.7%
2.7%
0%15.0%
Property Taxes Growth Rate2-year average: 4.2%
4.2%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$83This listing

vs Other Active Listings

Avg $/sqft

ZIP 55021$159
Rice County$181

vs Homes Sold Last Month

Median $/sqft

ZIP 55021$154
Rice County$165

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)

Price History

DateEventPrice
2026-04-03Listed for sale$380,000
2015-04-07Sold$240,000
1998-11-02Sold$135,000

For Sale by Agent

AgentMichelle L. Jasinski
BrokerageWeichert, REALTORS- Heartland

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