Fantastic Investment Opportunity!
Don’t miss this rare find with strong cash flow potential! Live in one side and rent out the other for extra income — or add this turnkey duplex to your portfolio.
Each unit features:
• 2 bedrooms, 1 bath, kitchen, and spacious living room on the main floor
• Full basement for storage or future expansion
• Attached garage and private deck (recently refaced with new lumber)
• Updated flooring throughout
• Appliances included
The west unit has been completely remodeled — including new flooring, fresh paint, updated bathroom, modern kitchen, and brand-new appliances. It’s move-in ready and sure to impress!
Additional updates include new garage doors and storm doors.
All of this sits on an extra-large lot (nearly half an acre) — offering plenty of room to build that dream 30x36 garage or expand further (check with the city for details).
This property truly has it all — value, versatility, and potential!
Priced to sell — don’t wait!
Closed
$195,000
507 Hills Ln, Albert Lea, MN 56007
4beds
2baths
1,692sqft
Multi Family
Built in 1976
-- sqft lot
$198,600 Zestimate®
$115/sqft
$1,287 Estimated rent
Home value
$198,600
Estimated sales range
Not available
$1,287/mo
Zestimate® history
Owner options
List your home for rent
$1,287/mo
Rent Zestimate®
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$1,287/mo
Rent Zestimate®
Refinance and save
$1,214/mo
Est. payment
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$1,214/mo
Est. payment
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List your homeWhat's special
Extra-large lotUpdated flooringAttached garageNew flooringFull basementBrand-new appliancesUpdated bathroom
Zillow last checked:
Listing updated:
Listed by:
Joshua Harmdierks 507-383-7625,
Unique Realty
Bought with:
Michael H. Steichen
Steichen Real Estate
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6645385
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
Heating
- Forced Air
Appliances
- Laundry: In Basement
Features
- Basement: Block,Full,Sump Pump,Unfinished
Interior area
- Total structure area: 1,692
- Total interior livable area: 1,692 sqft
- Finished area above ground: 1,692
- Finished area below ground: 0
Property
Parking
- Total spaces: 2
- Parking features: Attached
- Attached garage spaces: 2
- Details: Garage Dimensions (22x22), Garage Door Height (7), Garage Door Width (9)
Accessibility
- Accessibility features: None
Features
- Levels: One
- Patio & porch: Deck
- Pool features: None
- Fencing: None
Lot
- Size: 0.47 Acres
- Dimensions: 135 x 150
- Features: Corner Lot
- Topography: Level
Details
- Foundation area: 1692
- Parcel number: 342630010
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1976
Utilities & green energy
- Electric: Circuit Breakers, 100 Amp Service, Power Company: Minnesota Energy Resources
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Location
- Region: Albert Lea
Financial & listing details
- Price per square foot: $115/sqft
- Tax assessed value: $254,000
- Annual tax amount: $3,206
- Date on market: 1/22/2025
- Cumulative days on market: 292 days
- Tenant pays: Cable TV, Electricity, Gas
Price history
| Date | Event | Price |
|---|---|---|
| 11/21/2025 | Sold | $195,000-5.2%$115/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 11/10/2025 | Pending sale | $205,777$122/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 10/22/2025 | Price change | $205,777-0.5%$122/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 9/13/2025 | Price change | $206,777-0.5%$122/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 8/27/2025 | Price change | $207,770-1%$123/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 7/14/2025 | Price change | $209,900-4.5%$124/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 6/30/2025 | Price change | $219,900-2.2%$130/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 6/18/2025 | Price change | $224,900-3.4%$133/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 5/27/2025 | Price change | $232,900-3.4%$138/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 4/28/2025 | Price change | $241,000-2.6%$142/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 3/18/2025 | Price change | $247,500-1%$146/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 1/22/2025 | Listed for sale | $249,900+176.3%$148/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6645385 Report a problem | ||
| 1/5/2018 | Sold | $90,437-19.9%$53/sqft |
Source: NorthstarMLS as distributed by MLS GRID #5036100 Report a problem | ||
| 12/22/2017 | Pending sale | $112,900$67/sqft |
Source: RE/MAX Properties #4084304 Report a problem | ||
| 11/22/2017 | Listed for sale | $112,900$67/sqft |
Source: RE/MAX Properties #4084304 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,694 +10.7% | $254,000 +33.3% |
| 2024 | $3,338 +15% | $190,500 +7.3% |
| 2023 | $2,902 +5.9% | $177,500 -0.9% |
| 2022 | $2,740 -16.5% | $179,200 +37.2% |
| 2021 | $3,282 | $130,600 +7.2% |
| 2020 | $3,282 +16.1% | $121,800 |
| 2019 | $2,828 | -- |
| 2018 | $2,828 -12% | -- |
| 2016 | $3,214 +1.3% | -- |
| 2015 | $3,174 +0.4% | -- |
| 2014 | $3,160 +21.6% | -- |
| 2012 | $2,598 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
Find assessor info on the county website
Neighborhood: 56007
Nearby homes
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Nearby schools
GreatSchools rating
- 6/10Lakeview Elementary SchoolGrades: PK-5Distance: 1.8 mi
- 6/10Albert Lea Senior High SchoolGrades: 8-12Distance: 0.6 mi
- 4/10Southwest Middle SchoolGrades: 6-7Distance: 2.8 mi
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$198,600
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$202,572
- Minnesota
- Freeborn County
- Albert Lea
- 56007
- 507 Hills Ln
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