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For Sale:  Albert Lea MLS# 7113049

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Active
$119,900
/mo Edit
Multi-family:  Duplex Up and Down
4 br • 2 ba • Built 1900
1,316 sqft • 0.14 acres
Albert Lea schools
MLS# 7113049
763-576-8286
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    Property Description

    Whether you're looking to expand your investment portfolio or purchase a property with the opportunity to offset your mortgage, this versatile up/down duplex offers exceptional potential! It’s conveniently located in Albert Lea, has Central AC, a detached double garage, replacement windows, and great income-producing potential! There is flexibility to continue as a duplex or easily convert it back into a spacious single-family home. The main level unit: • Offers comfortable living space! • Three bedrooms with generous closet space and built-in storage • Full bathroom • Spacious living room • Large kitchen featuring abundant cabinetry The upper-level unit: • One-bedroom with large closet • Large bright living room area with newer carpet • Full bathroom with ample storage • A kitchen that opens to a private deck overlooking the neighborhood—an inviting space to relax and unwind. Additional features for this property include hardwood floors and charming built-ins! Based on current market rents, the property offers an estimated rental income potential of $1, 850+ per month, with the main level projected at $1, 000+ per month and the upper level at approximately $850 per month. The property is currently vacant, allowing a new owner the opportunity to select tenants and establish market rents from day one. Affordable duplexes continue to see strong buyer demand in Albert Lea, making this an attractive opportunity for investors, owner-occupants, or buyers seeking a property with future flexibility and upside potential.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $119,900
    Price per sq ft: $91
    Property Type: Multi-family
    City: Albert Lea
    Garage Spaces: 2
    County: Freeborn
    Year Built: 1900
    State: MN
    Property Style: Duplex Up and Down
    Zip Code: 56007
    Subdivision Name: Railroad Add

    Interior

    Bedrooms: 4
    Bathrooms: 2
    Finished Area: 1,316 ft2
    Living Area: 1,316 ft2
    Basement Details: Block

    Exterior

    Stories: Two
    Garage Spaces: 2
    Garage Dimensions: 24x24
    Garage Size: 576 ft2
    Foundation Size: 624 ft2
    Handicap Accessible: None
    Heating System: Forced Air
    Roof Details:
    • Age Over 8 Years
    • Asphalt

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.14
    Geolocation: 43.640987, -93.371627
    Lot Dimensions: 50 x 122
    Zoning: Residential-Multi-Family

    Schools

    School District: 241
    District Phone: 5073794800

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $900
    Annual Fuel Expense: $1,200
    Annual Insurance Expense: $710
    Annual Maintenance Expense: $1,200
    Annual Trash Expense: $720
    Annual Water/Sewer Expense: $876

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $1,500
    Lender-owned: Not Disclosed
    Assessment Pending: Unknown
    Taxes w/ Assessments: $1,500

    Income

    Annual Gross Income: $22,200

    Units

    Total Units: 2

    Miscellaneous

    Fuel System: Electric
    Owner Occupied: No
    Sewer System: City Sewer - In Street
    Water System: City Water - In Street
    Power Company Name: Freeborn - Mower Cooperative Services

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of HomeProz Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.