214 W College St

Cash flows

36 photos

Photos courtesy of Exp Realty - Broker, via Realtor.com.

Asking price: $94,900
Monthly cash flow: $439
Estimated rent: $1,950/mo
Break-even price: $177,418

Adjust the numbers See the full breakdown

From the listing

Affordable duplex investment opportunity at 214 W College St in Albert Lea. This cash-flowing property offers two separate units, providing rental income from both sides and an excellent opportunity to build or expand a rental portfolio. The property offers a practical layout, affordable price point, and established rental potential. Whether you're a first-time investor looking for an entry-level property or an experienced landlord adding another unit to your portfolio, this duplex offers the opportunity to generate income while building long-term equity. Conveniently located near local amenities, schools, shopping, and downtown Albert Lea. An affordable duplex with income-producing potential is hard to beat.

Listing courtesy of Exp Realty - Broker (Dillon Dale). Description from Realtor.com, MLS #7154528. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

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: $94,900
Cash to close: $21,827
Price per unit: $47,450
GRM: 4.1

Each month

Cash flow: $439/mo
Cash-on-cash: 24.1%
Cap rate: 11.9%
DSCR: 1.87×

Break-even

Price that breaks even: $177,418
Rent that breaks even: $1,380/mo

Long run

Year 30: property vs stocks: $1.06M vs $166K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$1,950
Vacancy (6%)	−$117
Collected	$1,833
Property tax Listing	−$129
Insurance Estimate	−$198
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$156
Capital reserve (9% of rent)	−$176
Net operating income	$944
Mortgage (principal + interest)	−$505
Cash flow	$439
Principal paid down (equity, not cash)	$64

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	$230,347
Minus 6% selling cost	−$13,821
Minus loan still owedTenants' rent paid down all $85,410 of principal by year 30	$0
Plus rental profits, invested at 7%$304,913 of profit by year 30, before investment growth	$756,907
What you'd walk away with	$973,433
If you put the same money in stocks
Cash to close ($12,337) invested at 7%	$93,912
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$93,912
Building minus stocks	$879,521

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$230,347
Minus 6% selling cost	−$13,821
Minus loan still owedTenants' rent paid down all $85,410 of principal by year 30	$0
Plus rental profits, invested at 7%$210,731 of profit by year 30, before investment growth	$500,296
What you'd walk away with	$716,822
If you put the same money in stocks
Cash to close ($12,337) invested at 7%	$93,912
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$93,912
Building minus stocks	$622,910

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$206,075
Minus 6% selling cost	−$12,364
Minus loan still owedTenants' rent paid down all $76,410 of principal by year 30	$0
Plus rental profits, invested at 7%$326,739 of profit by year 30, before investment growth	$826,520
What you'd walk away with	$1,020,230
If you put the same money in stocks
Cash to close ($11,037) invested at 7%	$84,016
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$84,016
Building minus stocks	$936,214

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$206,075
Minus 6% selling cost	−$12,364
Minus loan still owedTenants' rent paid down all $76,410 of principal by year 30	$0
Plus rental profits, invested at 7%$232,557 of profit by year 30, before investment growth	$569,909
What you'd walk away with	$763,619
If you put the same money in stocks
Cash to close ($11,037) invested at 7%	$84,016
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$84,016
Building minus stocks	$679,603

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$230,347
Minus 6% selling cost	−$13,821
Minus loan still owedTenants' rent paid down all $75,920 of principal by year 30	$0
Plus rental profits, invested at 7%$330,205 of profit by year 30, before investment growth	$844,991
What you'd walk away with	$1,061,518
If you put the same money in stocks
Cash to close ($21,827) invested at 7%	$166,153
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$166,153
Building minus stocks	$895,365

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$230,347
Minus 6% selling cost	−$13,821
Minus loan still owedTenants' rent paid down all $75,920 of principal by year 30	$0
Plus rental profits, invested at 7%$236,023 of profit by year 30, before investment growth	$588,381
What you'd walk away with	$804,907
If you put the same money in stocks
Cash to close ($21,827) invested at 7%	$166,153
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$166,153
Building minus stocks	$638,754

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$206,075
Minus 6% selling cost	−$12,364
Minus loan still owedTenants' rent paid down all $67,920 of principal by year 30	$0
Plus rental profits, invested at 7%$349,366 of profit by year 30, before investment growth	$905,322
What you'd walk away with	$1,099,033
If you put the same money in stocks
Cash to close ($19,527) invested at 7%	$148,645
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$148,645
Building minus stocks	$950,388

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$206,075
Minus 6% selling cost	−$12,364
Minus loan still owedTenants' rent paid down all $67,920 of principal by year 30	$0
Plus rental profits, invested at 7%$255,183 of profit by year 30, before investment growth	$648,712
What you'd walk away with	$842,422
If you put the same money in stocks
Cash to close ($19,527) invested at 7%	$148,645
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$148,645
Building minus stocks	$693,777

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$230,347
Minus 6% selling cost	−$13,821
Minus loan still owedTenants' rent paid down all $71,175 of principal by year 30	$0
Plus rental profits, invested at 7%$341,570 of profit by year 30, before investment growth	$880,775
What you'd walk away with	$1,097,302
If you put the same money in stocks
Cash to close ($26,572) invested at 7%	$202,273
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$202,273
Building minus stocks	$895,029

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$230,347
Minus 6% selling cost	−$13,821
Minus loan still owedTenants' rent paid down all $71,175 of principal by year 30	$0
Plus rental profits, invested at 7%$247,387 of profit by year 30, before investment growth	$624,165
What you'd walk away with	$840,691
If you put the same money in stocks
Cash to close ($26,572) invested at 7%	$202,273
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$202,273
Building minus stocks	$638,418

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$206,075
Minus 6% selling cost	−$12,364
Minus loan still owedTenants' rent paid down all $63,675 of principal by year 30	$0
Plus rental profits, invested at 7%$359,533 of profit by year 30, before investment growth	$937,336
What you'd walk away with	$1,131,046
If you put the same money in stocks
Cash to close ($23,772) invested at 7%	$180,959
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$180,959
Building minus stocks	$950,087

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$206,075
Minus 6% selling cost	−$12,364
Minus loan still owedTenants' rent paid down all $63,675 of principal by year 30	$0
Plus rental profits, invested at 7%$265,351 of profit by year 30, before investment growth	$680,725
What you'd walk away with	$874,435
If you put the same money in stocks
Cash to close ($23,772) invested at 7%	$180,959
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$180,959
Building minus stocks	$693,476

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 $1.06M, stocks $166K. The property wins.

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.

1 bed estimate $975/mo · range $825–$1,250 · 357 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
133 W William St, Albert Lea	$1,000	1 / 1	750	0.1 mi	—	Apartment
710 S Washington Ave, Albert Lea	$650	1 / 1	380	0.2 mi	2026-09-10	Apartment
127 Elizabeth Ave, Albert Lea	$725	1 / 1	—	0.3 mi	2026-08-21	Apartment
520th 6th St, Ellendale	$995	1 / 1	717	15.9 mi	2025-11-05	Apartment
900 14th St NW, Austin	$845	1 / 1	522	19.0 mi	2025-01-03	Apartment
1105 3rd St NW, Austin	$925	1 / 1	522	19.7 mi	2025-07-30	Apartment
104 1st St SW, Austin	$700	1 / 1	585	19.8 mi	2026-08-14	Apartment
704 1st Dr NW, Austin	$1,629	1 / 1	849	19.8 mi	2026-01-26	Apartment
119 2nd Ave NE Apt 3, Austin	$1,000	1 / 1	650	19.9 mi	2026-09-28	Apartment
139 2nd Ave NE Unit Main, Blooming Prairie	$675	1 / 1	300	22.0 mi	2026-08-15	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 214 COLLEGE ST W

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.	$1,548
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,378
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. built 1888: +1 pt capital reserve	8% / 9%

Status history

2026-10-02Price increase at $94,900 (was $89,900) · from listing history
2026-10-02New at $94,900

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$1,548
County	Freeborn
Parcel number	340071270

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.