Does this property have an HOA?

No, this property does not have a homeowners association.

What are the annual property taxes?

Annual property taxes are $761 (2026).

What school district is this property in?

This property is in the 241 - Albert Lea school district.

Does this home have a garage?

Yes, this home has a 1-car garage.

How long has this property been on the market?

This property has been listed for 0 days.

No photos available

Listed at

$99,900

$70/sqft

Lake Add

506 5th Street E, Albert Lea, MN, 56007

3 Bedrooms2 Bathrooms1,424 Square Feet0.2 Acres

Days on market0

Year built1920

Garage spaces1

TypeResidential

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About this home

Calling all cash investors! This is a great equity building opportunity with this 3-bedroom, 2 bath home. Put your talents to work for a great fall/winter project!

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Home facts

Property typeResidential

Property subtypeSingle Family

Year built1920

LevelsTwo

Living area1,424 sqft

Above-grade finished1,424 sqft

Below-grade finished0 sqft

Lot size0.2 acres (66x132)

Days on market0

ListedSep 30, 2026

MLS #NST7153548

CountyFreeborn

SubdivisionLake Add

Parcel #340361900

Facts & features

Interior

Bedrooms: 3
Bathrooms: 2
Bath breakdown: 1 full / 1 half
Heating: Forced Air
Cooling: None
Basement: Unfinished · 0 sqft finished

Property

Levels / stories: Two
Garage: 1 space · 242 sqft
Parking features: Attached Garage
Exterior features: Aluminum Siding
Lot size: 0.2 acres
Lot dimensions: 66x132

Construction

Property type: Residential
Property subtype: Single Family
Foundation: Concrete Perimeter · 800 sqft
Year built: 1920

Utilities

Water: City Water/Connected
Sewer: City Sewer/Connected
Fuel: Natural Gas

Community & HOA

Subdivision: Lake Add
HOA: No HOA
School district: 241 - Albert Lea
High school district: Albert Lea

Financial & listing details

Annual tax: $761 (2026)
Tax with assessments: 1174
Listed: Sep 30, 2026
Days on market: 0 · 1 cumulative
Special listing conditions: In Foreclosure
Foreclosure status: Yes

Interior details

Total bathrooms2

Full baths1

3/4 baths0

Half baths1

1/4 baths0

BasementUnfinished

HeatingForced Air

CoolingNone

AccessibilityNone

Exterior & lot

ExteriorAluminum Siding

FoundationConcrete Perimeter

Foundation area800 sqft

ZoningResidential-Single Family

Utilities

Water sourceCity Water/Connected

SewerCity Sewer/Connected

FuelNatural Gas

Parking & garage

ParkingAttached Garage

Garage spaces1

Garage size242 sqft

Financial details

Annual taxes$761

Tax year2026

Taxes w/ assessments1174

Assessment pendingNo

Lender ownedNo

Short saleNo

ForeclosureYes

Schools

District241 - Albert Lea

District number241

District phone5073794800

High schoolAlbert Lea

SODL flat fee brokerage

$0Estimated buyer credit

SODL platform fee $2,997Your buyer credit $0

Buyer-side commission

3.0%

How SODL buyer credits work

When you buy with SODL, the brokerage charges a flat $3,000 platform fee at closing. The remaining buyer-side commission (typically 3% of the purchase price) is credited directly back to you at closing, reducing the cash you bring to the table.

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Keep more money at closing through transparent flat-fee pricing

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Estimated monthly payment

$622/mo

Principal & interest$525

Property taxes$63

Home insurance (est.)$33

Down payment

$19,980

0%50%

Credit score

Loan term

These payment estimates are for illustration purposes only and may vary based on your lender, interest rate, credit profile, down payment, taxes, insurance, and loan terms. For a more accurate monthly payment estimate, speak with your lender or connect with SODL’s preferred lending partner.