509 E 4th St
Duplex · 2 units: 4 bed / 1.5 bath and 3 bed / 1.5 bath unit split estimated · 1,890 sq ft
Albert Lea, MN · View the listing ↗
Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.
- Asking price
- $189,000 2 units · $94K per unit
- Monthly cash flow
- $253 at 20% down, 7%
- Estimated rent
- $2,400/mo medium confidence
- Break-even price
- $236,550 where cash flow hits $0
First look
This is a 1888 up/down in Albert Lea with 7 beds and 3 baths on 1,890 sq ft, listed 276 days at $189K. Our model shows about $253/mo cash flow and an 8% cap at ask, using estimated rents of roughly $1,200 per unit, because the listing gives no rents, taxes or utility details. That is thin and rests on guesses, so get the rent roll, leases, tax bill and heat setup first. The tax and unit count could not be matched to a county parcel, so confirm those before anything else. Photos show window A/C units and older siding, so the condition looks dated; worth a showing only if the seller will share real numbers and you can negotiate after 9 months on market.
Things to consider
- Income is unverified The numbers rest on our rent estimates of about $1,200 per unit. Real rents could be higher or lower and change the cash flow a lot.
- Taxes and unit count not confirmed We couldn't match a county parcel, so the tax figure used is an estimate. A different tax bill or unit count would change the deal.
- Old building, no system details An 1888 house likely needs capital work, and the listing says nothing about updates. Budget for inspections of roof, wiring, plumbing and foundation.
- Leverage from long time on market After 276 days, the seller may accept a lower price. Our break-even price is above ask, but it relies on estimated rents.
- Heat and utilities unknown If the owner pays heat or water, cash flow drops. If tenants pay, it improves.
From the photos
Based on 3 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
- $189,000
- Cash to close
- $24,570
- Price per unit
- $94,500
- GRM
- 6.6
Each month
- Cash flow
- $21/mo
- Cash-on-cash
- 1.0%
- Cap rate
- 8.0%
- DSCR
- 1.02×
Break-even
- Price that breaks even
- $192,210
- Rent that breaks even
- $2,373/mo
Long run
- Year 30: property vs stocks
- $1.02M vs $187K
- Cash flow turns positive
- year 1
The deal
- Price
- $189,000
- Cash to close
- $24,570
- Price per unit
- $94,500
- GRM
- 6.6
Each month
- Cash flow
- −$182/mo
- Cash-on-cash
- −8.9%
- Cap rate
- 6.7%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $161,213
- Rent that breaks even
- $2,666/mo
Long run
- Year 30: property vs stocks
- $747K vs $231K
- Cash flow turns positive
- year 5
The deal
- Price
- $179,000
- Cash to close
- $23,270
- Price per unit
- $89,500
- GRM
- 6.2
Each month
- Cash flow
- $87/mo
- Cash-on-cash
- 4.5%
- Cap rate
- 8.4%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $192,210
- Rent that breaks even
- $2,288/mo
Long run
- Year 30: property vs stocks
- $1.07M vs $177K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $23,270
- Price per unit
- $89,500
- GRM
- 6.2
Each month
- Cash flow
- −$117/mo
- Cash-on-cash
- −6.0%
- Cap rate
- 7.1%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $161,213
- Rent that breaks even
- $2,570/mo
Long run
- Year 30: property vs stocks
- $774K vs $200K
- Cash flow turns positive
- year 5
The deal
- Price
- $189,000
- Cash to close
- $43,470
- Price per unit
- $94,500
- GRM
- 6.6
Each month
- Cash flow
- $253/mo
- Cash-on-cash
- 7.0%
- Cap rate
- 8.0%
- DSCR
- 1.25×
Break-even
- Price that breaks even
- $236,550
- Rent that breaks even
- $2,071/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $331K
- Cash flow turns positive
- year 1
The deal
- Price
- $189,000
- Cash to close
- $43,470
- Price per unit
- $94,500
- GRM
- 6.6
Each month
- Cash flow
- $50/mo
- Cash-on-cash
- 1.4%
- Cap rate
- 6.7%
- DSCR
- 1.05×
Break-even
- Price that breaks even
- $198,402
- Rent that breaks even
- $2,327/mo
Long run
- Year 30: property vs stocks
- $879K vs $331K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $41,170
- Price per unit
- $89,500
- GRM
- 6.2
Each month
- Cash flow
- $306/mo
- Cash-on-cash
- 8.9%
- Cap rate
- 8.4%
- DSCR
- 1.32×
Break-even
- Price that breaks even
- $236,550
- Rent that breaks even
- $2,002/mo
Long run
- Year 30: property vs stocks
- $1.23M vs $313K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $41,170
- Price per unit
- $89,500
- GRM
- 6.2
Each month
- Cash flow
- $103/mo
- Cash-on-cash
- 3.0%
- Cap rate
- 7.1%
- DSCR
- 1.11×
Break-even
- Price that breaks even
- $198,402
- Rent that breaks even
- $2,249/mo
Long run
- Year 30: property vs stocks
- $917K vs $313K
- Cash flow turns positive
- year 1
The deal
- Price
- $189,000
- Cash to close
- $52,920
- Price per unit
- $94,500
- GRM
- 6.6
Each month
- Cash flow
- $316/mo
- Cash-on-cash
- 7.2%
- Cap rate
- 8.0%
- DSCR
- 1.34×
Break-even
- Price that breaks even
- $252,320
- Rent that breaks even
- $1,990/mo
Long run
- Year 30: property vs stocks
- $1.27M vs $403K
- Cash flow turns positive
- year 1
The deal
- Price
- $189,000
- Cash to close
- $52,920
- Price per unit
- $94,500
- GRM
- 6.6
Each month
- Cash flow
- $113/mo
- Cash-on-cash
- 2.6%
- Cap rate
- 6.7%
- DSCR
- 1.12×
Break-even
- Price that breaks even
- $211,629
- Rent that breaks even
- $2,235/mo
Long run
- Year 30: property vs stocks
- $951K vs $403K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $50,120
- Price per unit
- $89,500
- GRM
- 6.2
Each month
- Cash flow
- $366/mo
- Cash-on-cash
- 8.8%
- Cap rate
- 8.4%
- DSCR
- 1.41×
Break-even
- Price that breaks even
- $252,320
- Rent that breaks even
- $1,925/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $382K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $50,120
- Price per unit
- $89,500
- GRM
- 6.2
Each month
- Cash flow
- $163/mo
- Cash-on-cash
- 3.9%
- Cap rate
- 7.1%
- DSCR
- 1.18×
Break-even
- Price that breaks even
- $211,629
- Rent that breaks even
- $2,162/mo
Long run
- Year 30: property vs stocks
- $984K vs $382K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Net operating income | $1,259 |
| Mortgage (principal + interest) | −$1,132 |
| PMI | −$106 |
| Cash flow | $21 |
| Principal paid down (equity, not cash) | $144 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Property management | −$203 |
| Net operating income | $1,056 |
| Mortgage (principal + interest) | −$1,132 |
| PMI | −$106 |
| Cash flow | −$182 |
| Principal paid down (equity, not cash) | $144 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Net operating income | $1,259 |
| Mortgage (principal + interest) | −$1,072 |
| PMI | −$101 |
| Cash flow | $87 |
| Principal paid down (equity, not cash) | $136 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Property management | −$203 |
| Net operating income | $1,056 |
| Mortgage (principal + interest) | −$1,072 |
| PMI | −$101 |
| Cash flow | −$117 |
| Principal paid down (equity, not cash) | $136 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Net operating income | $1,259 |
| Mortgage (principal + interest) | −$1,006 |
| Cash flow | $253 |
| Principal paid down (equity, not cash) | $128 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Property management | −$203 |
| Net operating income | $1,056 |
| Mortgage (principal + interest) | −$1,006 |
| Cash flow | $50 |
| Principal paid down (equity, not cash) | $128 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Net operating income | $1,259 |
| Mortgage (principal + interest) | −$953 |
| Cash flow | $306 |
| Principal paid down (equity, not cash) | $121 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Property management | −$203 |
| Net operating income | $1,056 |
| Mortgage (principal + interest) | −$953 |
| Cash flow | $103 |
| Principal paid down (equity, not cash) | $121 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Net operating income | $1,259 |
| Mortgage (principal + interest) | −$943 |
| Cash flow | $316 |
| Principal paid down (equity, not cash) | $120 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Property management | −$203 |
| Net operating income | $1,056 |
| Mortgage (principal + interest) | −$943 |
| Cash flow | $113 |
| Principal paid down (equity, not cash) | $120 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Net operating income | $1,259 |
| Mortgage (principal + interest) | −$893 |
| Cash flow | $366 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,400 |
| Vacancy (6%) | −$144 |
| Collected | $2,256 |
| Property tax Listing | −$151 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$192 |
| Capital reserve (9% of rent) | −$216 |
| Property management | −$203 |
| Net operating income | $1,056 |
| Mortgage (principal + interest) | −$893 |
| Cash flow | $163 |
| Principal paid down (equity, not cash) | $114 |
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
- $431,228
- Rental profits, invested at 7%
- $588,479
Sells for $458,753 (value up 3% a year), minus 6% selling cost ($27,525). Rent paid down $170,100 of loan.
$277,669 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $187,033
$24,570 put into an index fund instead of the down payment and closing costs.
The building comes out $832,674 ahead after 30 years.
- Your equity when you sell
- $431,228
- Rental profits, invested at 7%
- $316,165
Sells for $458,753 (value up 3% a year), minus 6% selling cost ($27,525). Rent paid down $170,100 of loan.
$168,383 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $187,033
- Monthly shortfalls, invested
- $43,515
$24,570 put into an index fund instead of the down payment and closing costs.
$6,631 you'd have paid in while the building lost money, invested instead.
The building comes out $516,845 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $658,092
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $161,100 of loan.
$299,494 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $177,137
$23,270 put into an index fund instead of the down payment and closing costs.
The building comes out $889,366 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $365,511
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $161,100 of loan.
$187,065 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $177,137
- Monthly shortfalls, invested
- $23,247
$23,270 put into an index fund instead of the down payment and closing costs.
$3,487 you'd have paid in while the building lost money, invested instead.
The building comes out $573,538 ahead after 30 years.
- Your equity when you sell
- $431,228
- Rental profits, invested at 7%
- $763,906
Sells for $458,753 (value up 3% a year), minus 6% selling cost ($27,525). Rent paid down $151,200 of loan.
$328,039 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $330,905
$43,470 put into an index fund instead of the down payment and closing costs.
The building comes out $864,228 ahead after 30 years.
- Your equity when you sell
- $431,228
- Rental profits, invested at 7%
- $448,078
Sells for $458,753 (value up 3% a year), minus 6% selling cost ($27,525). Rent paid down $151,200 of loan.
$212,122 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $330,905
$43,470 put into an index fund instead of the down payment and closing costs.
The building comes out $548,400 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $824,237
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $143,200 of loan.
$347,199 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $313,397
$41,170 put into an index fund instead of the down payment and closing costs.
The building comes out $919,251 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $508,409
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $143,200 of loan.
$231,283 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $313,397
$41,170 put into an index fund instead of the down payment and closing costs.
The building comes out $603,423 ahead after 30 years.
- Your equity when you sell
- $431,228
- Rental profits, invested at 7%
- $835,172
Sells for $458,753 (value up 3% a year), minus 6% selling cost ($27,525). Rent paid down $141,750 of loan.
$350,672 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $402,841
$52,920 put into an index fund instead of the down payment and closing costs.
The building comes out $863,559 ahead after 30 years.
- Your equity when you sell
- $431,228
- Rental profits, invested at 7%
- $519,344
Sells for $458,753 (value up 3% a year), minus 6% selling cost ($27,525). Rent paid down $141,750 of loan.
$234,756 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $402,841
$52,920 put into an index fund instead of the down payment and closing costs.
The building comes out $547,730 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $891,733
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $134,250 of loan.
$368,636 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $381,526
$50,120 put into an index fund instead of the down payment and closing costs.
The building comes out $918,618 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $575,904
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $134,250 of loan.
$252,719 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $381,526
$50,120 put into an index fund instead of the down payment and closing costs.
The building comes out $602,790 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 $1.02M, stocks $187K. The property wins.
Year 30 (loan paid off): property $747K, stocks $231K. The property wins.
Year 30 (loan paid off): property $1.07M, stocks $177K. The property wins.
Year 30 (loan paid off): property $774K, stocks $200K. The property wins.
Year 30 (loan paid off): property $1.20M, stocks $331K. The property wins.
Year 30 (loan paid off): property $879K, stocks $331K. The property wins.
Year 30 (loan paid off): property $1.23M, stocks $313K. The property wins.
Year 30 (loan paid off): property $917K, stocks $313K. The property wins.
Year 30 (loan paid off): property $1.27M, stocks $403K. The property wins.
Year 30 (loan paid off): property $951K, stocks $403K. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $382K. The property wins.
Year 30 (loan paid off): property $984K, stocks $382K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
4 bed / 1.5 bath estimate $1,200/mo · range $900–$1,525
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1609 Gateway Dr, Albert Lea 56007 | $1,850 | 4 / 2 | 1.5 mi | 79% |
| 1913 Grand Ave, Albert Lea 56007 | $1,500 | 4 / 2 | 2.1 mi | 76% |
| 318 E 5th St, Albert Lea 56007 off market | $1,300 | 3 / 1 | 0.2 mi | 72% |
| 902 S 4th Ave, Apt 203, Albert Lea 56007 off market | $900 | 2 / 1 | 1.1 mi | 71% |
| 820 S 4th Ave, Apt 302, Albert Lea 56007 off market | $850 | 2 / 1 | 1.1 mi | 71% |
| 826 S 4th Ave, Apt 306, Albert Lea 56007 off market | $800 | 1 / 1 | 1.1 mi | 71% |
| 1516/1520 E Hawthorne St, Albert Lea 56007 | $895 | 2 / 1 | 1.3 mi | 71% |
| 1516/1520 E Hawthorne Ave, Albert Lea 56007 off market | $950 | 2 / 1 | 1.3 mi | 71% |
| 1403 Dunham St, Albert Lea 56007 off market | $1,300 | 3 / 1 | 1.5 mi | 71% |
| 308 Vine Ave, Albert Lea 56007 off market | $1,400 | 3 / 2 | 1.1 mi | 70% |
3 bed / 1.5 bath estimate $1,200/mo · range $1,000–$1,400
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 318 E 5th St, Albert Lea 56007 off market | $1,300 | 3 / 1 | 0.2 mi | 81% |
| 902 S 4th Ave, Apt 203, Albert Lea 56007 off market | $900 | 2 / 1 | 1.1 mi | 80% |
| 820 S 4th Ave, Apt 302, Albert Lea 56007 off market | $850 | 2 / 1 | 1.1 mi | 80% |
| 1516/1520 E Hawthorne St, Albert Lea 56007 | $895 | 2 / 1 | 1.3 mi | 80% |
| 1516/1520 E Hawthorne Ave, Albert Lea 56007 off market | $950 | 2 / 1 | 1.3 mi | 80% |
| 1403 Dunham St, Albert Lea 56007 off market | $1,300 | 3 / 1 | 1.5 mi | 80% |
| 308 Vine Ave, Albert Lea 56007 off market | $1,400 | 3 / 2 | 1.1 mi | 80% |
| 430 Ulstad Ave, Albert Lea 56007 off market | $1,300 | 3 / 1.5 | 1.1 mi | 79% |
| 604 Ulstad Ave, Albert Lea 56007 off market | $1,300 | 3 / 1.5 | 1.1 mi | 78% |
| 301 Giles Pl, Albert Lea 56007 off market | $1,350 | 3 / 1 | 1.2 mi | 78% |
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
- highNo rents, lease terms or occupancy given. Income can't be checked. Based on: data: rent_estimate · AI review
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 509 4TH ST E
- medium1888 building with unknown wiring, plumbing, foundation and roof age. Nothing is disclosed on any of them. Based on: data: listing.year_built · AI review
- mediumDescription is all marketing language and offers no operating facts, such as utilities, heat type or updates. Listing says: This charming up-down duplex in Albert Lea offers timeless curb appeal and a versatile opportunity · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 276 days on market
- 276 days on market suggests room to negotiate below the $189K ask. Based on: data: listing.days_on_market · AI review
- Detached 2-car garage gives off-street parking and could be rented or used as a selling point. Listing says: a detached 2-car garage providing valuable storage and off-street parking · AI review
- Owner-occupant option: live in one unit and rent the other, which may help financing. Listing says: live in one unit while offsetting expenses with the other · AI review
Questions for the agent
- What are the current rents, lease end dates and are tenants month-to-month?
- What are the actual annual property taxes and any special assessments?
- How is each unit heated and metered, and who pays gas, electric, water and trash?
- Why has it sat 276 days, and have there been price cuts or offers?
- How old are the roof, furnace(s), water heaters and electrical panels, and is the wiring updated?
- Is the unit count licensed as a duplex with the city, and are the 7 beds legal bedrooms?
Bottom line
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. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. 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. | $1,808 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,500 |
| 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 1888: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-01-02 (276 days); last sold for $78,100 on 2015-01-01.
| Date | Event | Price |
|---|---|---|
| Removed | $189,000 | |
| Removed | $189,000 | |
| Removed | $189,000 | |
| Listed | $189,000 | |
| Removed | — | |
| Listed | $189,000 | |
| Removed | $79,000 | |
| Removed | $79,000 | |
| Removed | $79,000 | |
| Sold public record | $78,100 | |
| Removed | $79,000 | |
| Removed | $79,000 | |
| Removed | $79,000 | |
| Listed | $79,000 | |
| Listed | $79,000 | |
| Sold public record | $78,000 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2025 | $1,808 |
| County | Freeborn |
| Parcel number | 1 |
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.