Securing 78.55 continuous acres of prime agricultural land featuring a 2,017-square-foot lakeview farmhouse, tillable acreage, multiple outbuildings, and direct views of State Lake for an opening auction bid of $100,000 represents an extraordinary real estate acquisition opportunity in West-Central Minnesota.
Located at 20349 200th St, Glenwood, MN 56334 in Pope County, this property goes to an online auction on August 17, 2026.
Priced at an opening auction baseline of $1,273 per acre—or $50 per square foot for the primary dwelling—this listing sits $428,866 below its official tax-assessed value of $528,866.
Whether your vision involves expanding an active farming operation, leasing out tillable acreage for passive income, establishing a homestead, or executing a land banking strategy, this parcel offers substantial equity potential.
Below is an in-depth, data-driven analysis covering property specifications, structural features, agricultural utility, comparative market metrics, financial proformas, pros and cons, and an expert purchasing verdict.
Property Specifications at a Glance
| Property Attribute | Specification Details | Strategic Land & Equity Takeaway |
| Auction Opening Price | $100,000 ($50 / Sq. Ft. for structure) | $428,866 below county tax-assessed value ($528,866) |
| Auction Schedule | Online Auction on August 17, 2026 at 6:00 PM | Sold “AS IS” via competitive online bidding process |
| Location & Municipality | 20349 200th St, Glenwood, MN 56334 | Pope County (Agricultural District / Lake View Corridor) |
| Total Lot Footprint | 78.55 Continuous Acres | Features tillable land, light tree coverage & lake views |
| Primary Structure Size | 2,017 Sq. Ft. Livable (2,260 Total Area) | 3 Bedrooms / 2 Bathrooms (Built 1998; 2-Story) |
| Water Views & Features | Enclosed Porch with Views of State Lake | Updated kitchen with gas fireplace overlooking lake |
| Outbuilding Infrastructure | Barn, Granary, Workshop, Coop, Hoop Building | Includes 32×37 3-car garage, loafing sheds & 12×64 mobile home |
| Utilities & Systems | Boiler Heating, Propane, Runestone Electric | Drilled water well on-site; septic non-compliant |
| Annual Tax Overhead | $2,480 / Year (~$207 / Month) | Extremely low property tax burden for 78+ acres |
| Zoning Classification | Agriculture | Flexible zoning for farming, livestock & equestrian uses |
Core Investment Value Drivers: What Makes 20349 200th St Stand Out?
1. Substantial Tax Assessment Arbitrage ($428k+ Instant Equity Margin)
In real estate land acquisitions, buying significantly below county-assessed valuations offers an immediate margin of safety:
- County Assessment Baseline: Pope County officially assesses 20349 200th St at $528,866.
- Acquisition Margin: With the online auction starting at $100,000, a buyer securing this parcel at or near the opening bid captures an exceptional discount relative to municipal tax benchmarks.
2. High-Yield 78.55-Acre Footprint with Tillable Land
The primary financial engine supporting this farmstead is the spatial scale and quality of the acreage:
- Tillable Crop Acreage: The property includes tillable land suitable for corn, soybeans, hay, or small grains. A non-farming investor can lease the tillable acres to neighboring farmers to generate steady annual cash flow that covers property taxes and maintenance.
- State Lake Views & Privacy: Positioned overlooking State Lake, the spacious yard provides country privacy with scenic water views from the enclosed porch and dining room.
3. Extensive Farmstead Infrastructure & Outbuildings
Developing 78 acres of raw Minnesota farmland with outbuildings requires immense capital. Bypassing initial construction hurdles provides major savings:
- Detached & Tuckunder Garage (32×37): A spacious 3-car garage and workshop area capable of storing vehicles, tractors, and heavy machinery.
- Agricultural Outbuildings: Features an older wood barn, granary, open loafing buildings for livestock, a chicken coop, a 46×72 hoop building frame, and a 12×64 mobile home shell for storage or staging.
4. Updated Lakeview Farmhouse (Built 1998)
- Historic Character with Modern Framing: Constructed in 1998, the 2,017-square-foot 2-story home combines vintage aesthetic touches—original woodwork, authentic character, and classic hardware—with modern building standards.
- Spacious Interior Layout: Features a large family kitchen, dining space with a gas fireplace, main-floor bedroom, main-floor laundry, boiler heating, and two large bedrooms upstairs (10’x15′ dimensions).
Critical Liabilities & Due Diligence Considerations
A thorough real estate evaluation requires examining non-compliant systems, repair needs, and auction terms prior to placing a bid.
1. Non-Compliant Septic System (“AS IS” Auction Requirement)
- Septic Replacement Capital Required: The listing confirms that the septic system is non-compliant (
Septic System Compliant - No). In Pope County, Minnesota, bringing a non-compliant septic system up to current environmental code typically requires budgeting $12,000 to $22,000 for a new mound or gravity septic system installation.
2. Outbuilding Maintenance & TLC
- Barn Roof Repairs Needed: The original timber barn requires roof repairs to prevent structural deterioration. Additionally, the 46×72 hoop building lacks a tarp cover, requiring an investment of $3,000 to $6,000 to install replacement commercial fabric.
Comparative Market Analysis: How Does This Glenwood Farmstead Measure Up?
To evaluate whether $100,000 represents a fair opening price, we must compare it against regional land baselines in Pope County and Central Minnesota agricultural sales.
Minnesota Agricultural Land Valuation Matrix
| Property Category / Location | Average Price Per Acre | Equivalent Value for 78.55 Acres |
| 20349 200th St (Auction Opening) | $1,273 / Acre | $100,000 (Starting Auction Baseline) |
| Pope County Official Tax Assessment | $6,733 / Acre | $528,866 (Official County Assessment) |
| Central Minnesota Tillable Farmland Average | $5,500 – $7,200 / Acre | $432,025 – $565,560 (Land Only) |
| Regional Farmstead Target Valuation | $6,000 / Acre Target | $471,300 Target Value |
Comparative Financial & Equity Benchmarks
| Valuation Benchmark | Total Asset Value | Per-Acre Equivalent | Strategic Investor Takeaway |
| Auction Starting Price | $100,000 | $1,273 / Acre | Entry-level bidding baseline |
| County Assessed Value | $528,866 | $6,733 / Acre | Official municipal tax valuation |
| Estimated Market Value (Post-Rehab) | $480,000 – $540,000 | $6,110 – $6,874 / Acre | Estimated value including home & tillable land |
| Potential Instant Equity Margin | ~$380,000 – $428,000 | ~$4,837 – $5,448 / Acre | Value captured relative to tax assessment |
Comprehensive Financial & Carrying Cost Breakdown
Monthly Fixed Overhead Proforma
| Expense Category | Estimated Monthly Overhead | Calculation Basis & Annual Total |
| Principal & Interest (80% LTV at $100k) | $519 / Month | Based on $80,000 loan balance @ 6.75% interest (30-yr fixed) |
| Property Taxes | $207 / Month | Derived from Pope County annual tax bill ($2,480/year) |
| Hazard & Farmstead Insurance | $95 / Month | Estimated policy covering home, land, and outbuildings |
| Total Estimated Fixed Overhead | ~$821 / Month | Excludes variable propane gas, electricity, and septic upgrade |
Regional Proximity & Location Context
Situated off 200th St in rural Glenwood, MN, the property balances quiet country living with quick access to regional lakes, commercial centers, and healthcare services.
| Destination / Landmark | Distance / Drive Time | Location Utility & Strategic Value |
| State Lake | Immediate / On-Site View | Direct scenic views from enclosed porch and dining room |
| Downtown Glenwood, MN | ~10 Minutes | County seat, groceries, dining, shopping & Lake Minnewaska |
| Lake Minnewaska Public Access | ~12 Minutes | 7,100+ acre lake for premier fishing, boating & watersports |
| Alexandria, MN | ~25 Minutes | Regional commercial hub, big-box retail, hospital & airport |
| St. Cloud, MN | ~1.0 Hour | Major regional city, university & corporate centers |
| Minneapolis / St. Paul (Twin Cities) | ~2.0 Hours | Major international airport, metropolitan culture & commerce |
Pros vs. Cons Analysis
The Pros (Why You Should Buy)
- Unbeatable Value Ratio ($1,273/Acre Starting Bid): Listed with a starting bid $428,866 below official tax assessment ($528,866).
- 78.55 Continuous Acres with Tillable Land: High-yield agricultural acreage capable of generating lease income.
- 1998-Built Farmhouse with Lake Views: 2,017 sq. ft., 3-bedroom, 2-bath home overlooking State Lake.
- Extensive Outbuilding Infrastructure: 3-car garage, barn, granary, coop, loafing sheds, and hoop building.
- Low Fixed Tax Overhead: Annual property taxes sit at an affordable $2,480 per year (~$207/month).
The Cons (Key Considerations)
- Non-Compliant Septic System: Requires budgeting $12,000–$22,000 for a new septic system installation.
- Barn Roof Repairs Needed: Structural wood barn requires roof repairs and maintenance.
- Auction Terms (“AS IS”): Demands upfront cash/financing verification prior to the August 17th online auction.
Final Investment Verdict & Bidding Strategy
The Verdict: HIGHLY RECOMMENDED — An elite, top-tier purchase for agricultural producers, land investors, homesteaders, or buyers seeking 78+ acres with a lakeview home under $250,000.
20349 200th St in Glenwood, MN offers a rare combination of spatial scale, tillable land, lake views, and agricultural infrastructure. Bidding on 78.55 acres starting at $100,000 creates an exceptional foundation for equity capture.
Suggested Bidding & Action Plan:
Given that 78-acre farmsteads assessed at $528k generate fast buyer competition during auction events, set a maximum competitive bid threshold between $220,000 and $285,000 (which still leaves over $240,000 in equity relative to tax assessment).
Ensure you complete the following steps prior to the August 17, 2026 auction:
- Conduct an on-site walkthrough of the 1998 farmhouse, barn, and outbuildings.
- Obtain a contractor estimate for replacing the non-compliant septic system.
- Verify financing pre-approval or proof of liquid funds as required by the auction company.
Listed on Zillow