Search Princeton, MN Contract for deed homes. It’s a city in Mille Lacs and Sherburne counties in East Central Minnesota, at the confluence of the Rum River and its West branch. The city is 50 miles north of Minneapolis and 30 miles east of St. Cloud, at the intersection of Highways 169 and 95. The population is4,698 . A majority of its residents live in Mille Lacs County.