Properties listed in Saint Joseph

Michel Commercial is pleased to present the Morningside Townhomes, a 32-home affordable community located in St. Joseph, MN. These well-maintained townhomes feature open, spacious layouts, in-home laundry, private entries, and attached garages. Affordability Structure All 32 homes (100%) are designated for residents earning up to 60% of the Area Median Income (AMI) until the expiration of the Land Use Restriction Agreement (LURA) on July 3, 2036. Prime Location and Lifestyle Located in St. Joseph, MN–a charming town in Stearns County–the Morningside Townhomes offer the perfect blend of small-town charm and urban convenience. Part of the St. Cloud metropolitan area and just 75 miles northwest of the Twin Cities, St. Joseph is easily accessible via Interstate 94. The area is renowned for its picturesque setting, surrounded by rolling hills, lush farmland, and scenic lakes. St. Joseph is also home to the College of Saint Benedict and Saint John’s University, respected liberal arts institutions that contributes to the town’s vibrant and welcoming community. Attractive Investment Opportunity The Morningside Townhomes present a stable and appealing investment opportunity, supported by a history of strong occupancy. Additionally, the Low-Income Rental Classification (LIRC) tax rate reduction to 0.25%, effective January 1, 2025, further enhances its attractiveness as a valuable addition to any investment portfolio.