Albert Lea

Neighborhood profile

Listings we track

11

Median price per unit

$85K

Typical cash flow

$115

median per month, 20% down

Rent rules

No cap

Rents can reset to market at renewal

Crime, rental-license and Census neighborhood figures are only available for St. Paul and Minneapolis so far.

Map

Top picks

Ranked on real rent estimates (nearby comparable rentals or our own research). Listings with a serious red flag are under Proceed with caution instead, however good the numbers look.

Triplex

+$804/mo cash flow

Cash flows · cap 12.8% · 20% down

$149,900

3 units6 bd2 ba2,064 sqft

919 W Front St, Albert Lea

Rents: RentCast comps

Duplex

+$25/mo cash flow

Cash flows · cap 6.6% · 20% down

$179,900

2 units5 bd2 ba1,792 sqft

506 W College St, Albert Lea

Rents: RentCast comps

Duplex

−$361/mo cash flow

Overpriced · cap 4.5% · 20% down

$224,900

2 units4 bd3 ba2,356 sqft

413 Hawthorne St E, Albert Lea

Rents: 6 rentals within 1.75 mi

Ways to slice it

All listings

11 listings. Filter by price or units, or switch the down payment.

1. 919 W Front St

   $149,900 · 3 units
   Cash flows
   Cash flow $804/mo Cap 12.8% Break-even price $301K Yr 30 vs stocks 7.06× Positive in yr 1

   Numbers look great on paper, but with no rents, no verified taxes and 427 days on market, treat this as unproven until the rent roll and records check out.

2. 506 W College St

   $179,900 · 2 units
   Cash flows
   Cash flow $25/mo Cap 6.6% Break-even price $185K Yr 30 vs stocks 2.49× Positive in yr 1

   Numbers barely work at asking on estimated rents, so get the real rent roll, taxes and foundation check before getting excited.

3. 918 Jefferson Ave

   $99,900 · 2 units
   Cash flows
   Cash flow $381/mo Cap 11.0% Break-even price $172K Yr 30 vs stocks 5.69× Positive in yr 1

   Cheap, vacant duplex with decent projected numbers, but verify the legal status, systems and why it's still unsold before getting excited.

   Priced under $100K: usually means major repairs, a fire or condemned building, a contract-for-deed or partial-interest sale, or a listing error. Find out why before anything else.

4. 509 E 4th St

   $189,000 · 2 units
   Cash flows
   Cash flow $253/mo Cap 8.0% Break-even price $237K Yr 30 vs stocks 3.61× Positive in yr 1

   Plausible small-town duplex at about 8% cap on estimated rents, but with no rents, taxes or systems info, you'd be buying on guesses until the seller shows numbers.

   No rents, lease terms or occupancy given. Income can't be checked.

5. 221 N 3rd Ave

   $169,900 · 2 units
   Cash flows
   Cash flow $115/mo Cap 7.2% Break-even price $191K Yr 30 vs stocks 3.01× Positive in yr 1

   A plain Albert Lea duplex with thin cash flow at asking, no rents given and a long time on market, so negotiate and verify the rents and taxes first.

   No rents, lease terms or occupancy stated, so income is entirely our estimate

6. 214 W College St

   $94,900 · 2 units
   Cash flows
   Cash flow $362/mo Cap 11.0% Break-even price $163K Yr 30 vs stocks 5.67× Positive in yr 1

   The cheap price and modeled 11% cap look attractive, but with no rents or records in the listing, treat it as unproven until the rent roll and the reason for the low price check out.

   Priced under $100K: usually means major repairs, a fire or condemned building, a contract-for-deed or partial-interest sale, or a listing error. Find out why before anything else.

7. 220 E 7th St

   $249,900 · 4 units
   Cash flows
   Cash flow $1,123/mo Cap 11.8% Break-even price $461K Yr 30 vs stocks 6.36× Positive in yr 1

   Interesting mixed-use building at a price that could work, but the roughly $3,000 in rent doesn't back the underwriting, and the commercial unit changes the risk, so get the rent roll before spending more time.

   One of four units is commercial, so it isn't a residential rental. Financing, insurance and the vacancy risk differ, and our residential rent estimate for it doesn't apply.

8. 922 Jefferson Ave

   $164,999 · 2 units
   Cash flows
   Cash flow $42/mo Cap 6.7% Break-even price $173K Yr 30 vs stocks 2.65× Positive in yr 1

   A basic 1892 Albert Lea duplex that barely breaks even at the ask, so it only makes sense at a lower price with verified rents.

   Description gives no rents, lease terms or tenant details, only a vague claim that it pays for itself

9. 413 Hawthorne St E

   $224,900 · 2 units
   Overpriced
   Cash flow −$361/mo Cap 4.5% Break-even price $157K Yr 30 vs stocks 1.01× Positive in yr 16

   Dated but functional duplex priced about $68K above where our numbers break even, so it only works at a much lower price.

10. 1602 1604 Front St W

    $250,000 · 2 units
    Far off
    Cash flow −$685/mo Cap 3.1% Break-even price $121K Yr 30 vs stocks 0.56× Positive in 30+ yrs

    Sound-looking 1959 duplex, but $250K against about $1,900 in gross rents loses money every month, so only look at it at a much lower price.

    No rents, lease terms or occupancy in the listing. Photos show lived-in homes, so tenants or owner-occupants may be present.

11. 1602/1604 W Front St

    $250,000 · 2 units
    Far off
    Cash flow −$750/mo Cap 2.8% Break-even price $109K Yr 30 vs stocks 0.49× Positive in 30+ yrs

    A tidy, dated duplex with weak rents that works at roughly $110K, not $250K.

    Price is far above what the rents support

Monthly cash flow

What's changing

Nothing curated for this city yet.