NOT LISTED FOR SALE

514 E 7th St Albert Lea, MN 56007

Estimated Value: $101,000 - $185,000

7 Beds
3 Baths
2,948 Sq Ft
$51/Sq Ft Est. Value

Last Sold December 15, 2023

Last sale price $70,000 $24 Per Sq Ft

Est. 116% increase in value since last sale

Current estimated payment $1,041/month

64 Days on Market

About This Home

As of December 2023

This investment property is a fixer upper, the back unit has three bedrooms and is already gutted. Two bedroom unit upstairs and a two bedroom unit in the front. Lots of future potential.

Last Agent to Sell the Property

Georgiana Wadding

Coldwell Banker River Valley, REALTORS Listed on: 10/09/2023

Coldwell Banker River Valley, REALTORS

Last Buyer's Agent

Kristina Wheeler

RE/MAX Advantage Plus

RE/MAX Advantage Plus

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,562

Year Built

  • Built in 1946

Parking

  • 2 Car Garage

Home Design

  • Triplex

Interior Spaces

  • 2,948 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Bathrooms

Additional Features

  • Lot Dimensions are 56x150
  • Radiant Heating System

Community Details

  • 3 Units
  • Coin Laundry

Listing and Financial Details

  • Assessor Parcel Number 340490870

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,562

Year Built

Built in 1946

Lot Details

0

Parking

2

Listing Details

  • Type: Residential Income
  • Property Subtype 1: Triplex
  • Garage Spaces: 2
  • Accessibility Features: None
  • Water Source: City Water/Connected
  • Association Amenities: Coin-op Laundry Owned
  • Year Built: 1946
  • Above Grade Finished Sq Ft: 2948
  • Unit Levels: Two
  • New Construction: No
  • FractionalOwnershipYN: No
  • Rental License?: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Living Area: 2948
  • Basement YN: No
  • Number Of Fireplaces: 0
  • Total Rooms: 5

Beds/Baths

  • Total Bedrooms: 7

Exterior Features

  • Fencing: None

Garage/Parking

  • Parking Features: Detached

Utilities

  • Heating: Radiant
  • Sewer: City Sewer/Connected
  • Fuel: Electric,Natural Gas

Schools

  • Junior High Dist: Albert Lea
  • SchoolDistrictPhone: 507-379-4800

Lot Info

  • Lot Size: 56x150
  • Land Lease: No
  • Additional Parcels: No
  • ResoLotSizeUnits: SquareFeet
  • AssessmentPending: Yes
  • Yearly/Seasonal: Yearly

Building Info

  • Construction Materials: Brick/Stone
  • Units Total: 3

Rental Info

  • Expenses: 0.0000

Tax Info

  • Tax Year: 2023
  • Assessor Parcel Number: 340490870
  • Tax Annual Amount: 1562
  • TaxWithAssessments: 1754.0000

Multi Family

  • ElectricExpense: 2808
  • FuelExpense: 1260

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 9, 2023
Closed on
Dec 15, 2023
Sold by
G & C Properties Llc
Bought by
Hull Dustin and Hull Rebecca
Seller's Agent
Georgiana Wadding
Coldwell Banker River Valley, REALTORS
Buyer's Agent
Kristina Wheeler
RE/MAX Advantage Plus
List Price
$94,700
Sold Price
$70,000
Premium/Discount to List
-$24,700
-26.08%
Views
217
Current Estimated Value
$151,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$81,000
Avg. Annual Appreciation
45.24%

Purchase Details

Closed on
Oct 27, 2011
Sold by
Breuer Timothy J and Breuer Deborah A
Bought by
Hauer Corey

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
3.28%
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
Hull Dustin $70,000 --
Hauer Corey -- Northwest Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hauer Corey $150,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/15/2023 12/15/23 Sold $70,000 -26.1% $24 / Sq Ft
10/11/2023 10/11/23 For Sale $94,700 -- $32 / Sq Ft
Source: NorthstarMLS

Tax History Compared to Growth

Source: Public Records

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 $3,022 $138,600 $12,300 $126,300
2024 $2,720 $150,800 $12,300 $138,500
2023 $1,754 $139,700 $12,300 $127,400
2022 $1,476 $86,100 $8,600 $77,500
2021 $1,398 $61,400 $8,600 $52,800
2020 $1,664 $69,900 $8,600 $61,300
2019 $1,406 $60,300 $7,400 $52,900
2018 $1,348 $0 $0 $0
2016 $1,520 $0 $0 $0
2015 $1,492 $0 $0 $0
2014 $1,500 $0 $0 $0
2012 $1,424 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: NorthstarMLS

MLS Number: 6446454

NorthstarMLS

APN: 34.049.0870