506 W College St
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath · 1,792 sq ft
Albert Lea, MN · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $179,900 2 units · $90K per unit
- Monthly cash flow
- $25 at 20% down, 7%
- Estimated rent
- $2,275/mo high confidence
- Break-even price
- $184,662 where cash flow hits $0
First look
This is a 1883 up/down in Albert Lea at $179,900. Our numbers show about $25/mo cash flow and a 6.6% cap at asking, with a break-even price near $185K, so it barely pencils on paper. But we used estimated rents of roughly $1,225 and $1,050, and the listing gives no actual rents or lease terms. Taxes are unverified because the county parcel didn't match. Photos show a stone basement wall and a lived-in upper unit. Ask for the rent roll, tax bill and utility costs first, then get an inspection of the foundation and mechanicals. Worth a showing if the real rents are near our estimates.
Things to consider
- Rents are our estimates, not actual Cash flow of $25/mo depends on about $1,225 and $1,050 rents. If real rents are lower, the deal goes negative quickly.
- Taxes and unit count are unverified An investor tax bill can run higher than the seller's, which would cut into the very thin cash flow.
- Old house with a stone foundation Foundation or moisture repairs can be costly and would wipe out many years of cash flow.From photo 8
- Unit condition differs between floors The upper kitchen looks dated next to the main floor, so turnover costs or lower rents may apply there.From photo 9
- Utilities are not specified If the owner pays any heat or water, cash flow drops from our estimate.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.
The numbers
Edit rents, costs and assumptions
Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).
The deal
- Price
- $179,900
- Cash to close
- $23,387
- Price per unit
- $89,950
- GRM
- 6.6
Each month
- Cash flow
- −$196/mo
- Cash-on-cash
- −10.0%
- Cap rate
- 6.6%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $150,048
- Rent that breaks even
- $2,529/mo
Long run
- Year 30: property vs stocks
- $665K vs $227K
- Cash flow turns positive
- year 5
The deal
- Price
- $179,900
- Cash to close
- $23,387
- Price per unit
- $89,950
- GRM
- 6.6
Each month
- Cash flow
- −$388/mo
- Cash-on-cash
- −19.9%
- Cap rate
- 5.3%
- DSCR
- 0.67×
Break-even
- Price that breaks even
- $120,665
- Rent that breaks even
- $2,841/mo
Long run
- Year 30: property vs stocks
- $484K vs $345K
- Cash flow turns positive
- year 14
The deal
- Price
- $169,900
- Cash to close
- $22,087
- Price per unit
- $84,950
- GRM
- 6.2
Each month
- Cash flow
- −$130/mo
- Cash-on-cash
- −7.1%
- Cap rate
- 6.9%
- DSCR
- 0.88×
Break-even
- Price that breaks even
- $150,048
- Rent that breaks even
- $2,444/mo
Long run
- Year 30: property vs stocks
- $692K vs $197K
- Cash flow turns positive
- year 5
The deal
- Price
- $169,900
- Cash to close
- $22,087
- Price per unit
- $84,950
- GRM
- 6.2
Each month
- Cash flow
- −$322/mo
- Cash-on-cash
- −17.5%
- Cap rate
- 5.6%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $120,665
- Rent that breaks even
- $2,746/mo
Long run
- Year 30: property vs stocks
- $486K vs $290K
- Cash flow turns positive
- year 12
The deal
- Price
- $179,900
- Cash to close
- $41,377
- Price per unit
- $89,950
- GRM
- 6.6
Each month
- Cash flow
- $25/mo
- Cash-on-cash
- 0.7%
- Cap rate
- 6.6%
- DSCR
- 1.03×
Break-even
- Price that breaks even
- $184,662
- Rent that breaks even
- $2,242/mo
Long run
- Year 30: property vs stocks
- $783K vs $315K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $41,377
- Price per unit
- $89,950
- GRM
- 6.6
Each month
- Cash flow
- −$167/mo
- Cash-on-cash
- −4.8%
- Cap rate
- 5.3%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $148,501
- Rent that breaks even
- $2,519/mo
Long run
- Year 30: property vs stocks
- $539K vs $370K
- Cash flow turns positive
- year 9
The deal
- Price
- $169,900
- Cash to close
- $39,077
- Price per unit
- $84,950
- GRM
- 6.2
Each month
- Cash flow
- $79/mo
- Cash-on-cash
- 2.4%
- Cap rate
- 6.9%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $184,662
- Rent that breaks even
- $2,173/mo
Long run
- Year 30: property vs stocks
- $821K vs $297K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $39,077
- Price per unit
- $84,950
- GRM
- 6.2
Each month
- Cash flow
- −$114/mo
- Cash-on-cash
- −3.5%
- Cap rate
- 5.6%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $148,501
- Rent that breaks even
- $2,441/mo
Long run
- Year 30: property vs stocks
- $550K vs $327K
- Cash flow turns positive
- year 7
The deal
- Price
- $179,900
- Cash to close
- $50,372
- Price per unit
- $89,950
- GRM
- 6.6
Each month
- Cash flow
- $85/mo
- Cash-on-cash
- 2.0%
- Cap rate
- 6.6%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $196,973
- Rent that breaks even
- $2,164/mo
Long run
- Year 30: property vs stocks
- $851K vs $383K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $50,372
- Price per unit
- $89,950
- GRM
- 6.6
Each month
- Cash flow
- −$107/mo
- Cash-on-cash
- −2.6%
- Cap rate
- 5.3%
- DSCR
- 0.88×
Break-even
- Price that breaks even
- $158,401
- Rent that breaks even
- $2,432/mo
Long run
- Year 30: property vs stocks
- $578K vs $410K
- Cash flow turns positive
- year 7
The deal
- Price
- $169,900
- Cash to close
- $47,572
- Price per unit
- $84,950
- GRM
- 6.2
Each month
- Cash flow
- $135/mo
- Cash-on-cash
- 3.4%
- Cap rate
- 6.9%
- DSCR
- 1.16×
Break-even
- Price that breaks even
- $196,973
- Rent that breaks even
- $2,100/mo
Long run
- Year 30: property vs stocks
- $885K vs $362K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $47,572
- Price per unit
- $84,950
- GRM
- 6.2
Each month
- Cash flow
- −$57/mo
- Cash-on-cash
- −1.4%
- Cap rate
- 5.6%
- DSCR
- 0.93×
Break-even
- Price that breaks even
- $158,401
- Rent that breaks even
- $2,359/mo
Long run
- Year 30: property vs stocks
- $594K vs $371K
- Cash flow turns positive
- year 4
Monthly
Monthly breakdown
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Net operating income | $983 |
| Mortgage (principal + interest) | −$1,077 |
| PMI | −$101 |
| Cash flow | −$196 |
| Principal paid down (equity, not cash) | $137 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Property management | −$192 |
| Net operating income | $790 |
| Mortgage (principal + interest) | −$1,077 |
| PMI | −$101 |
| Cash flow | −$388 |
| Principal paid down (equity, not cash) | $137 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Net operating income | $983 |
| Mortgage (principal + interest) | −$1,017 |
| PMI | −$96 |
| Cash flow | −$130 |
| Principal paid down (equity, not cash) | $129 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Property management | −$192 |
| Net operating income | $790 |
| Mortgage (principal + interest) | −$1,017 |
| PMI | −$96 |
| Cash flow | −$322 |
| Principal paid down (equity, not cash) | $129 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Net operating income | $983 |
| Mortgage (principal + interest) | −$958 |
| Cash flow | $25 |
| Principal paid down (equity, not cash) | $122 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Property management | −$192 |
| Net operating income | $790 |
| Mortgage (principal + interest) | −$958 |
| Cash flow | −$167 |
| Principal paid down (equity, not cash) | $122 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Net operating income | $983 |
| Mortgage (principal + interest) | −$904 |
| Cash flow | $79 |
| Principal paid down (equity, not cash) | $115 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Property management | −$192 |
| Net operating income | $790 |
| Mortgage (principal + interest) | −$904 |
| Cash flow | −$114 |
| Principal paid down (equity, not cash) | $115 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Net operating income | $983 |
| Mortgage (principal + interest) | −$898 |
| Cash flow | $85 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Property management | −$192 |
| Net operating income | $790 |
| Mortgage (principal + interest) | −$898 |
| Cash flow | −$107 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Net operating income | $983 |
| Mortgage (principal + interest) | −$848 |
| Cash flow | $135 |
| Principal paid down (equity, not cash) | $108 |
| Rent | $2,275 |
| Vacancy (6%) | −$136 |
| Collected | $2,138 |
| Property tax Listing | −$333 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$182 |
| Capital reserve (9% of rent) | −$205 |
| Property management | −$192 |
| Net operating income | $790 |
| Mortgage (principal + interest) | −$848 |
| Cash flow | −$57 |
| Principal paid down (equity, not cash) | $108 |
Cash flow each year
Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.
30 years
How those totals add up
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $254,765
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $161,910 of loan.
$138,633 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $178,028
- Monthly shortfalls, invested
- $49,089
$23,387 put into an index fund instead of the down payment and closing costs.
$7,509 you'd have paid in while the building lost money, invested instead.
The building comes out $438,112 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $73,461
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $161,910 of loan.
$50,585 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $178,028
- Monthly shortfalls, invested
- $167,164
$23,387 put into an index fund instead of the down payment and closing costs.
$29,340 you'd have paid in while the building lost money, invested instead.
The building comes out $138,733 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $304,111
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $152,910 of loan.
$157,315 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $168,132
- Monthly shortfalls, invested
- $28,822
$22,087 put into an index fund instead of the down payment and closing costs.
$4,365 you'd have paid in while the building lost money, invested instead.
The building comes out $494,805 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $98,039
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $152,910 of loan.
$63,550 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $168,132
- Monthly shortfalls, invested
- $122,130
$22,087 put into an index fund instead of the down payment and closing costs.
$20,479 you'd have paid in while the building lost money, invested instead.
The building comes out $195,426 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $372,656
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $143,920 of loan.
$179,069 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $314,972
$41,377 put into an index fund instead of the down payment and closing costs.
The building comes out $468,148 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $128,798
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $143,920 of loan.
$78,240 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $314,972
- Monthly shortfalls, invested
- $55,521
$41,377 put into an index fund instead of the down payment and closing costs.
$9,050 you'd have paid in while the building lost money, invested instead.
The building comes out $168,769 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $432,987
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $135,920 of loan.
$198,230 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $297,464
$39,077 put into an index fund instead of the down payment and closing costs.
The building comes out $523,171 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $162,674
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $135,920 of loan.
$92,863 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $297,464
- Monthly shortfalls, invested
- $29,066
$39,077 put into an index fund instead of the down payment and closing costs.
$4,512 you'd have paid in while the building lost money, invested instead.
The building comes out $223,793 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $440,490
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $134,925 of loan.
$200,613 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $383,445
$50,372 put into an index fund instead of the down payment and closing costs.
The building comes out $467,510 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $167,296
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $134,925 of loan.
$94,769 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $383,445
- Monthly shortfalls, invested
- $26,184
$50,372 put into an index fund instead of the down payment and closing costs.
$4,035 you'd have paid in while the building lost money, invested instead.
The building comes out $168,131 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $497,051
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $127,425 of loan.
$218,576 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $362,130
$47,572 put into an index fund instead of the down payment and closing costs.
The building comes out $522,569 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $206,844
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $127,425 of loan.
$110,042 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $362,130
- Monthly shortfalls, invested
- $9,172
$47,572 put into an index fund instead of the down payment and closing costs.
$1,345 you'd have paid in while the building lost money, invested instead.
The building comes out $223,191 ahead after 30 years.
Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.
30 years: this property vs. the same money in stocks
Year 30 (loan paid off): property $665K, stocks $227K. The property wins.
Year 30 (loan paid off): property $484K, stocks $345K. The property wins.
Year 30 (loan paid off): property $692K, stocks $197K. The property wins.
Year 30 (loan paid off): property $486K, stocks $290K. The property wins.
Year 30 (loan paid off): property $783K, stocks $315K. The property wins.
Year 30 (loan paid off): property $539K, stocks $370K. The property wins.
Year 30 (loan paid off): property $821K, stocks $297K. The property wins.
Year 30 (loan paid off): property $550K, stocks $327K. The property wins.
Year 30 (loan paid off): property $851K, stocks $383K. The property wins.
Year 30 (loan paid off): property $578K, stocks $410K. The property wins.
Year 30 (loan paid off): property $885K, stocks $362K. The property wins.
Year 30 (loan paid off): property $594K, stocks $371K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.
3 bed / 1 bath estimate $1,225/mo · range $1,025–$1,425
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1403 Dunham St, Albert Lea 56007 off market | $1,300 | 3 / 1 | 0.7 mi | 84% |
| 318 E 5th St, Albert Lea 56007 off market | $1,300 | 3 / 1 | 0.8 mi | 84% |
| 820 S 4th Ave, Apt 302, Albert Lea 56007 off market | $850 | 2 / 1 | 0.6 mi | 84% |
| 902 S 4th Ave, Apt 203, Albert Lea 56007 off market | $900 | 2 / 1 | 0.6 mi | 84% |
| 1516/1520 E Hawthorne St, Albert Lea 56007 | $895 | 2 / 1 | 1.4 mi | 82% |
| 1516/1520 E Hawthorne Ave, Albert Lea 56007 off market | $950 | 2 / 1 | 1.4 mi | 82% |
| 301 Giles Pl, Albert Lea 56007 off market | $1,350 | 3 / 1 | 0.8 mi | 82% |
| 308 Vine Ave, Albert Lea 56007 off market | $1,400 | 3 / 2 | 0.4 mi | 80% |
| 821 Minnesota Ave, Albert Lea 56007 off market | $1,300 | 3 / 1 | 1.0 mi | 79% |
| 1105 Madison Ave, Albert Lea 56007 off market | $1,275 | 3 / 1 | 0.6 mi | 79% |
2 bed / 1 bath estimate $1,050/mo · range $1,000–$1,100
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 820 S 4th Ave, Apt 302, Albert Lea 56007 off market | $850 | 2 / 1 | 0.6 mi | 93% |
| 902 S 4th Ave, Apt 203, Albert Lea 56007 off market | $900 | 2 / 1 | 0.6 mi | 93% |
| 1516/1520 E Hawthorne St, Albert Lea 56007 | $895 | 2 / 1 | 1.4 mi | 92% |
| 1516/1520 E Hawthorne Ave, Albert Lea 56007 off market | $950 | 2 / 1 | 1.4 mi | 92% |
| 204 E Front St, Albert Lea 56007 off market | $925 | 2 / 1 | 0.5 mi | 88% |
| 139 E William St, Albert Lea 56007 | $880 | 2 / 1 | 0.3 mi | 88% |
| 1302 Madison Ave, Albert Lea 56007 | $895 | 2 / 1 | 0.7 mi | 87% |
| 133 W William St, Apt 201, Albert Lea 56007 | $865 | 2 / 1 | 0.3 mi | 86% |
| 133 W William St, Apt 301, Albert Lea 56007 off market | $865 | 2 / 1 | 0.3 mi | 86% |
| 209 S Pearl St, Albert Lea 56007 off market | $750 | 2 / 1 | 0.2 mi | 85% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 506 COLLEGE ST W
- mediumNo actual rents, lease terms or occupancy stated Listing says: Very nice up and down duplex. · AI review
- mediumTaxes unverified, so the cash flow figure could be off Based on: data: rule_flags · AI review
- medium1883 build with stone foundation walls visible in the basement; structural and moisture check needed Based on: photo 8 · AI review
- lowFive bedrooms and 1,792 sq ft is tight for two units, so the units may be small Based on: data: listing.sqft · AI review
Opportunities
- In-unit laundry in the upper unit is a rent-supporting feature Listing says: spacious living area with in unit laundry · AI review
- Detached garage and fenced yard can support rent and tenant retention Listing says: Detached garage with parking. · AI review
- No rent cap in Albert Lea, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- What are the current rents, lease end dates and security deposits for each unit?
- What do the property taxes run, and is the building a licensed rental?
- Who pays heat, water, electric and trash, and what did each cost last year?
- What are the ages of the roof, furnace, water heater and electrical panel?
- Is the upper unit occupied, and why has it been listed 45 days?
- Has the stone foundation had any moisture or settling issues?
Bottom line
Numbers barely work at asking on estimated rents, so get the real rent roll, taxes and foundation check before getting excited. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit. | $3,994 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,473 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $170 |
| Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent | $0 |
| Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal | $60 |
| Repairs / capital reserve Rulerule. built 1883: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-08-21 (45 days).
| Date | Event | Price |
|---|---|---|
| Listed | $179,900 | |
| Removed | $64,900 | |
| Listed | $64,900 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2026 | $3,994 |
| County | Freeborn |
| Parcel number | 340072040 |
As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.
Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Albert Lea on rental licensing before you buy.