NOT LISTED FOR SALE

1302 Madison Ave Albert Lea, MN 56007

Estimated Value: $195,000 - $230,000

8 Beds
4 Baths
3,325 Sq Ft
$65/Sq Ft Est. Value

Last Sold July 17, 2014

Last sale price $82,500 $25 Per Sq Ft

Est. 163% increase in value since last sale

Current estimated payment $1,443/month

27 Days on Market

Highlights

  • 1.8 Acre Lot
  • Eat-In Kitchen
  • 1-Story Property
  • Balcony
  • Landscaped with Trees
  • Forced Air Heating System

About This Home

As of July 2014

Completely rented, 4 unit building in good condition. Off street tenant parking and tenant storage available.

Last Agent to Sell the Property

Bill Leland

Leland Realty, Inc. Listed on: 05/15/2014

Last Buyer's Agent

Sally Ehrhardt

Leland Realty, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 1.8 Acre Lot
  • Lot Dimensions are 264x310
  • Irregular Lot
  • Landscaped with Trees

Parking

  • Gravel Driveway

Home Design

  • Quadruplex
  • Frame Construction
  • Wood Siding

Interior Spaces

  • 3,325 Sq Ft Home
  • 1-Story Property

Kitchen

  • Eat-In Kitchen
  • Range

Partially Finished Basement

  • Walk-Out Basement
  • Block Basement Construction

Utilities

  • Forced Air Heating System
  • Gas Water Heater

Additional Features

  • Balcony
  • Ground Level

Community Details

  • 4 Units

Listing and Financial Details

  • Tenant pays for broadband, cable TV, electric, fuel
  • The owner pays for lawn, maint/repair, snow, trash, water/sewer
  • Assessor Parcel Number 340591340

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Type: Multi-Family
  • Class: MULTI-FAMILY
  • Classification: NonHomestead
  • Style: 4-plex
  • Assessments: Yes
  • Construction: Previously Owned
  • Mechanicals: Water Heater - Gas
  • Parcel Number: 340591340
  • Stories: 1 Story
  • Street Designation: Avenue
  • Estimated Number of Acres: 1.8
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range/Stove, Refrigerator
  • Basement Features: Partially Finished
  • Basement Material: Concrete Block
  • Basement Style: Walk-out
  • Finished Above Grade Sq Ft: 2400
  • Total Fin Square Footage: 3325
  • Total Square Footage: 4600
  • Below Grade Finished Sq Ft: 925

Exterior Features

  • Frontage Road: City, Paved
  • Construction Type: Frame/Wood
  • Exterior: Wood
  • Exterior Amenities: Balcony, Driveway - Gravel

Garage/Parking

  • Number Off Street Parking: 6

Utilities

  • Fuel: Natural Gas
  • Heat: Forced Air
  • Sewer: City
  • Water: City

Lot Info

  • Lot/Land Description: Irregular Lot, Tree Coverage - Medium
  • Estimated Lot Dimensions: 264x310

Rental Info

  • Owner Expense: Lawn, Maint/Repair, Snow, Trash, Water/Sewer
  • Tenant Expense: Broadband, Cable TV, Electric, Fuel

Building Info

  • Year Built: 1928

Tax Info

  • Year: 2014
  • Tax Value: 2855.32

MLS Schools

  • School District: Albert Lea #241

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 30, 2024
Sold by
Sprague Douglas
Bought by
Cns Properties Of Rochester Llc
Current Estimated Value
$217,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$192,000
Outstanding Balance
$189,290
Interest Rate
6.49%
Mortgage Type
New Conventional
Estimated Equity
$27,710

Purchase Details

Listed on
May 15, 2014
Closed on
Jul 17, 2014
Bought by
Sprague Douglas Douglas
Seller's Agent
Bill Leland
Leland Realty, Inc.
Buyer's Agent
Sally Ehrhardt
Leland Realty, Inc.
List Price
$100,000
Sold Price
$82,500
Premium/Discount to List
-$17,500
-17.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.74%
Original Mortgage
$81,500
Interest Rate
4.12%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Cns Properties Of Rochester Llc $240,000 --
Sprague Douglas Douglas $82,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cns Properties Of Rochester Llc $192,000
Previous Owner Sprague Douglas Douglas $81,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/17/2014 07/17/14 Sold $82,500 -17.5% $25 / Sq Ft
06/11/2014 06/11/14 Pending -- -- --
05/15/2014 05/15/14 For Sale $100,000 -- $30 / Sq Ft
Source: REALTOR® Association of Southern Minnesota

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,790 $220,800 $41,600 $179,200
2024 $3,840 $188,200 $41,600 $146,600
2023 $3,852 $198,100 $41,600 $156,500
2022 $2,516 $247,700 $29,400 $218,300
2021 $2,150 $107,500 $29,400 $78,100
2020 $2,142 $89,700 $20,700 $69,000
2019 $2,024 $87,400 $26,000 $61,400
2018 $2,028 $0 $0 $0
2016 $1,912 $0 $0 $0
2015 $1,844 $0 $0 $0
2014 $3,086 $0 $0 $0
2012 $3,352 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2014

    Bill Leland

    Leland Realty, Inc.

  • S

    Buyer's Agent in 2014

    Sally Ehrhardt

    Leland Realty, Inc.

See All Agents

Map

Source: REALTOR® Association of Southern Minnesota

MLS Number: 4620039

REALTOR® Association of Southern Minnesota

APN: 34.059.1340

Minnesota Freeborn County Albert Lea 56007

1302 Madison Ave, Albert Lea, MN

Not Listed for Sale

MultiFamily

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