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305 1st St NE, Morristown, MN, 55052

3beds
4baths
2,576sqft
$515,000
$200price/sqft
$3,555/moest. monthly cost
$142,200/yrincome needed

About This Home

Step into a storybook setting where French Colonial charm meets coastal serenity and Southern grace, tucked along the banks of the Cannon River in the heart of Morristown. With two parcels included, the home plus an additional buildable lot with 165 feet of pristine shoreline, this property offers a level of privacy, beauty, and possibility that is rarely found. Inside, curated custom finishes and artisan craftsmanship create a home that feels both worldly and welcoming, from whitewashed cedar ceilings and layered textures to oversized windows that flood the open-concept main floor with natural light and frame the river like living artwork, where every window holds a river view and every detail tells a story. Designed for both gathering and quiet moments, you’ll enjoy morning coffee on one of two river-facing decks, evenings on the wraparound porch watching eagles soar, and days spent canoeing, fishing, or simply enjoying the peaceful rhythm of river life. The home features three generous bedrooms, including two spa-like ensuite retreats, blending comfort and luxury in perfect harmony. A four-stall tandem heated garage with large windows offers incredible space for vehicles, hobbies, kayaks, and more, feeling more like an extension of the home than a garage. This is more than a home, it’s a beautiful riverside lifestyle, where every detail was chosen with intention. And now, with a new price, it presents an incredible opportunity to own one of the most unique and special properties in the area. Located in the charming town of Morristown, just minutes from Faribault and with easy access to I-35 and Mankato, this home offers the rare combination of peaceful small-town living and convenient access to larger city amenities. Surrounded by lakes in every direction, this location is a dream for those who love the outdoors yet need accessibility...a perfect blend of convenience and rural beauty. Truly the best of both worlds!

Getting Around

27
WalkingCar-Dependent
0
TransitVery Limited Transit
46
BikeSomewhat Bikeable

Schools

Construction

Condition

  • Year built: 2020

Materials

  • Roof: Age 8 Years or Less,Asphalt,Pitched

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family

Interior

Appliances

  • Appliances included: Chandelier,Dishwasher,Dryer,Exhaust Fan,Range,Refrigerator,Stainless Steel Appliance(s),Washer
  • Laundry features: Laundry Room,Upper Level

Basement

  • Has basement: Yes
  • Basement: Crawl Space

Bedroom

  • Level: Upper

Bedroom2

  • Level: Upper

Bedroom3

  • Level: Upper

Bedroom4

  • Level: Upper

Bedrooms & Bathrooms

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

Deck

  • Level: Main

Deck

  • Level: Upper

Den

  • Level: Main

Dining Room

  • Level: Main

Family Room

  • Level: Upper

Features

  • Fireplace features: Wood Burning,Wood Burning Stove
  • Finished area below ground: 0
  • Finished area above ground: 2,576

Heating & Cooling

  • Heating features: Forced Air,Wood Stove
  • Cooling features: Central Air

Interior Area

  • Total structure area: 2,576
  • Total interior livable area: 2,576 sqft

Kitchen

  • Level: Main

Laundry

  • Level: Upper

Living Room

  • Level: Main

Property

Accessibility

  • Accessibility features: None

Details

  • Parcel number: 2023351100
  • Zoning description: Residential-Single Family
  • Foundation area: 1288

Features

  • Levels: Two
  • Stories: 2
  • Patio & porch: Composite Decking,Covered,Deck,Wrap Around
  • Has view: Yes
  • View description: North,River
  • Has water view: Yes
  • Water view: River
  • On waterfront: Yes
  • Waterfront features: River Front,River View
  • Frontage length: Water Frontage: 165

Lot

  • Lot size: 0.70 Acres
  • Features: Accessible Shoreline,Corner Lot,Tree Coverage - Light
  • Lot size dimensions: 165 x 185

Parking

  • Total spaces: 4
  • Parking features: Attached,Concrete,Garage Door Opener,Heated Garage,Insulated Garage
  • 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
  • Drought
    DroughtModerate
  • Ice Storm
    Ice StormModerate
  • Lightning
    LightningModerate

How This Home’s Risks Compare

Hail
Inland Flooding
Strong Wind
Tornado
Cold Wave
Winter Weather
Drought
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 $2,604$31,248
Home Insurance *$301$3,612
Property Taxes $433$5,196
Electricity $217$2,607
Total$3,555$42,660
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$121,885/yr
40% on housing$106,650/yr
45% on housing$94,800/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

$200This listing

vs Other Active Listings

Avg $/sqft

ZIP 55052$170
Rice County$180

vs Homes Sold Last Month

Median $/sqft

ZIP 55052$255
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)

No zestimate history available

Price History

DateEventPrice
2026-04-04Listed for sale$525,000
2025-11-09Listing removed$539,000
2025-09-08Price change$539,000
2025-06-13Price change$549,000
2025-05-14Listed for sale$555,000
2024-11-13Listing removed$545,000
2024-08-23Listed for sale$545,000
2024-08-21Listing removed--
2024-07-09Price change$549,900
2024-06-04Price change$569,000
2024-05-16Price change$584,000
2024-04-24Listed for sale$599,000
2019-07-07Listing removed$54,500
2019-07-07Price change$54,500
2019-04-19Price change$18,500
2018-07-09Price change$54,500
2018-06-13Listed for sale$20,000
2018-04-04Listing removed$55,000
2017-09-27Price change$55,000
2017-08-01Listed for sale$75,000

For Sale by Agent

AgentHailey M. Warner
BrokerageeXp Realty

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