1602 1604 Front St W

Albert Lea, MN · View the listing ↗

Far off

26 photos

Photos courtesy of CENTURY 21 Atwood, via Realtor.com.

Asking price: $250,000
Monthly cash flow: −$763
Estimated rent: $1,800/mo
Break-even price: $106,648

Adjust the numbers See the full breakdown

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: $250,000
Cash to close: $57,500
Price per unit: $125,000
GRM: 11.6

Each month

Cash flow: −$763/mo
Cash-on-cash: −15.9%
Cap rate: 2.7%
DSCR: 0.43×

Break-even

Price that breaks even: $106,648
Rent that breaks even: $2,778/mo

Long run

Year 30: property vs stocks: $570K vs $1.14M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$1,800
Vacancy (6%)	−$108
Collected	$1,692
Property tax Listing	−$401
Insurance Estimate	−$205
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$144
Capital reserve (8% of rent)	−$144
Net operating income	$568
Mortgage (principal + interest)	−$1,331
Cash flow	−$763
Principal paid down (equity, not cash)	$169

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

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $225,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$570,407
If you put the same money in stocks
Cash to close ($32,500) invested at 7%	$247,398
Monthly shortfalls ($262,205 total by yr 30) investedThe money you'd have put into the building while it lost money	$934,407
What you'd walk away with	$1,181,806
Building minus stocks	−$611,399

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $225,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$570,407
If you put the same money in stocks
Cash to close ($32,500) invested at 7%	$247,398
Monthly shortfalls ($349,143 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,171,279
What you'd walk away with	$1,418,677
Building minus stocks	−$848,270

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,543
Minus 6% selling cost	−$34,953
Minus loan still owedTenants' rent paid down all $216,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$547,590
If you put the same money in stocks
Cash to close ($31,200) invested at 7%	$237,502
Monthly shortfalls ($240,380 total by yr 30) investedThe money you'd have put into the building while it lost money	$864,794
What you'd walk away with	$1,102,297
Building minus stocks	−$554,707

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,543
Minus 6% selling cost	−$34,953
Minus loan still owedTenants' rent paid down all $216,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$547,590
If you put the same money in stocks
Cash to close ($31,200) invested at 7%	$237,502
Monthly shortfalls ($327,317 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,101,666
What you'd walk away with	$1,339,168
Building minus stocks	−$791,578

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $200,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$570,407
If you put the same money in stocks
Cash to close ($57,500) invested at 7%	$437,705
Monthly shortfalls ($195,578 total by yr 30) investedThe money you'd have put into the building while it lost money	$702,361
What you'd walk away with	$1,140,066
Building minus stocks	−$569,659

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $200,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$570,407
If you put the same money in stocks
Cash to close ($57,500) invested at 7%	$437,705
Monthly shortfalls ($282,516 total by yr 30) investedThe money you'd have put into the building while it lost money	$939,233
What you'd walk away with	$1,376,937
Building minus stocks	−$806,530

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,543
Minus 6% selling cost	−$34,953
Minus loan still owedTenants' rent paid down all $192,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$547,590
If you put the same money in stocks
Cash to close ($55,200) invested at 7%	$420,196
Monthly shortfalls ($176,417 total by yr 30) investedThe money you'd have put into the building while it lost money	$642,030
What you'd walk away with	$1,062,227
Building minus stocks	−$514,637

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,543
Minus 6% selling cost	−$34,953
Minus loan still owedTenants' rent paid down all $192,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$547,590
If you put the same money in stocks
Cash to close ($55,200) invested at 7%	$420,196
Monthly shortfalls ($263,355 total by yr 30) investedThe money you'd have put into the building while it lost money	$878,901
What you'd walk away with	$1,299,098
Building minus stocks	−$751,508

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $187,500 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$570,407
If you put the same money in stocks
Cash to close ($70,000) invested at 7%	$532,858
Monthly shortfalls ($165,640 total by yr 30) investedThe money you'd have put into the building while it lost money	$608,094
What you'd walk away with	$1,140,952
Building minus stocks	−$570,545

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $187,500 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$570,407
If you put the same money in stocks
Cash to close ($70,000) invested at 7%	$532,858
Monthly shortfalls ($252,577 total by yr 30) investedThe money you'd have put into the building while it lost money	$844,965
What you'd walk away with	$1,377,823
Building minus stocks	−$807,416

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,543
Minus 6% selling cost	−$34,953
Minus loan still owedTenants' rent paid down all $180,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$547,590
If you put the same money in stocks
Cash to close ($67,200) invested at 7%	$511,544
Monthly shortfalls ($147,676 total by yr 30) investedThe money you'd have put into the building while it lost money	$551,533
What you'd walk away with	$1,063,077
Building minus stocks	−$515,487

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,543
Minus 6% selling cost	−$34,953
Minus loan still owedTenants' rent paid down all $180,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$547,590
If you put the same money in stocks
Cash to close ($67,200) invested at 7%	$511,544
Monthly shortfalls ($234,614 total by yr 30) investedThe money you'd have put into the building while it lost money	$788,405
What you'd walk away with	$1,299,948
Building minus stocks	−$752,358

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

This propertyStocks at 7%

Year 30 (loan paid off): property $570K, stocks $1.14M. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $900/mo · range $875–$925 · 6 rentals within 2.25 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1302 Madison Ave, Albert Lea	$895	2 / 1	870	1.0 mi	2026-06-24	Apartment
133 W William St Apt 201, Albert Lea	$865	2 / 1	788	1.1 mi	—	Apartment
200 E 3rd St Unit Downstairs, Albert Lea	$850	2 / 1	800	1.2 mi	2026-10-04	Duplex triplex
139 E William St, Albert Lea	$880	2 / 1	894	1.2 mi	2025-05-12	Apartment
1215 Saint John Ave Apt 3, Albert Lea	$950	2 / 1	769	1.4 mi	—	Duplex triplex
1516/1520 E Hawthorne St, Albert Lea	$895	2 / 1	—	2.2 mi	2025-09-06	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 1602 1604 FRONT ST W
mediumAsking is $143,352 above the price where cash flow breaks even ($106,648) at the default scenario. Based on: Derived: price $250,000 vs. break-even $106,648

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. 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.	$4,816
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,460
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. base rate	8% / 8%

Status history

2026-08-24New at $250,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$4,816
County	Freeborn
Parcel number	341330050

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.