1302 Madison Avenue Albert Lea, MN ^$ 248,000

1302 Madison Avenue

^$ 248,000

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1302 Madison Avenue

Albert Lea, MN, 56007

^$ 248,000

Bedrooms4 Baths2.0 Sq 3,512

Monthly Estimate*

^$ 1,648

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Multi-Family Home for sale in Albert Lea, MN

for $248,000 with 4 bedrooms and 2 full baths. This 3,512 square foot home was built in 1928 on a lot size of 1.99.

Fully rented 4-plex. All units are 2 bedrooms with a full bathroom. Large cement off the back overlooks an open field. 3 units have their own laundry in the lower level. Unit 4 has laundry in the unit. All units have additional storage in the lower level. Electric and gas is split so each unit pays their own. Off street parking.

Multi-Family Active

Price

^$ 248,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 3,576

Style

Quadruplex

Lot Size

1.99

Year Built

1928

Town/City

Albert Lea

County/Region

Freeborn

MLS | Web ID

6541159

Features

General

Sewer City Sewer/Connected

Heating Forced Air

Roof Age 8 Years or Less Asphalt

Garage Spaces 0

Construction Materials Shake Siding

Year Built 1928

Electric Circuit Breakers

Tenant Pays Cable TV Electricity Gas

Levels One

Property SubType Quadruplex

Tax Year 2024

Gross Income 36000

Accessibility None

County Freeborn

Operating Expense 0

Insurance Expense 1470

New Construction N

Property Type Residential Income

Contingency None

Subdivision Name Pob Sub

Directions East on Front St from Broadway Ave left onto Madison Ave drive to the end of the road and turn right.

City Albert Lea

Buyer Agent Compensation 2.50

High School District Albert Lea

Zoning Description Residential-Multi-Family

NumberOfUnitsTotal 4

Lot Size Units Acres

Street Name Madison

Land Lease Y/N N

Tax Annual Amount 3576

Electric Expense 86.64

Fuel Expense 0

Trash Expense 960

Water Sewer Expense 1440

Additional Parcels Y/N N

Days on Market 19

Standard Status Active

Lender Owned No

Buyer Agent Compensation Type %

Interior

Basement Block

Basement (Y/N) Y

Above Grade Finished Area 2612

Below Grade Finished Area 900

Fuel Natural Gas

Exterior

Parking Features Gravel Parking Lot

Water Source City Water/Connected

Lot Size Area 1.99

Lot Dimensions 330x265

Street Suffix Avenue

Foundation Area 2612

Internal Only

Street Number 1 1302

* Excluded Features

List By

Re/Max Properties

Broker

gregmoen@remax.net

Affordability Calculator

$1,946

Per Month

Monthly Principal & Interest: $1,648
Monthly Property Taxes: $298
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Albert Lea, MN

Average List Price ^$180,360

Percent of Sale Price 27%

About Albert Lea, MN

17,794 Population

-4% Since 2002

^$44,096 Median Income

43.27 Median Age

23% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

708674 Elementary School

708663 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/22/2024	$248,000		Listed Price

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1302 Madison Avenue, Albert Lea, MN, 56007 is a Multi-Family Home for sale at $248,000 with 3,512 sqft and a lot size of 1.99. 1302 Madison Avenue has 4 bedrooms, 2.0 baths, and was built in 1928. The property's zip code is 56007 which is in Albert Lea, MN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 6/16/2024.

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1302 Madison Avenue

Multi-Family Home for sale in Albert Lea, MN

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