922 Jefferson Ave

Albert Lea, MN · View the listing ↗

Cash flows

31 photos

Photos courtesy of National Realty Guild - Broker, via Realtor.com.

Asking price: $164,999
Monthly cash flow: $3
Estimated rent: $1,800/mo
Break-even price: $165,617

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: $164,999
Cash to close: $37,950
Price per unit: $82,500
GRM: 7.6

Each month

Cash flow: $3/mo
Cash-on-cash: 0.1%
Cap rate: 6.4%
DSCR: 1.00×

Break-even

Price that breaks even: $165,617
Rent that breaks even: $1,796/mo

Long run

Year 30: property vs stocks: $706K vs $289K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$1,800
Vacancy (6%)	−$108
Collected	$1,692
Property tax Listing	−$72
Insurance Estimate	−$203
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$144
Capital reserve (9% of rent)	−$162
Net operating income	$881
Mortgage (principal + interest)	−$878
Cash flow	$3
Principal paid down (equity, not cash)	$112

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	$400,496
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $148,499 of principal by year 30	$0
Plus rental profits, invested at 7%$126,515 of profit by year 30, before investment growth	$227,540
What you'd walk away with	$604,006
If you put the same money in stocks
Cash to close ($21,450) invested at 7%	$163,282
Monthly shortfalls ($7,897 total by yr 30) investedThe money you'd have put into the building while it lost money	$51,460
What you'd walk away with	$214,742
Building minus stocks	$389,264

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,496
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $148,499 of principal by year 30	$0
Plus rental profits, invested at 7%$56,698 of profit by year 30, before investment growth	$84,197
What you'd walk away with	$460,663
If you put the same money in stocks
Cash to close ($21,450) invested at 7%	$163,282
Monthly shortfalls ($25,017 total by yr 30) investedThe money you'd have put into the building while it lost money	$144,988
What you'd walk away with	$308,269
Building minus stocks	$152,394

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,223
Minus 6% selling cost	−$22,573
Minus loan still owedTenants' rent paid down all $139,499 of principal by year 30	$0
Plus rental profits, invested at 7%$145,113 of profit by year 30, before investment growth	$276,433
What you'd walk away with	$630,083
If you put the same money in stocks
Cash to close ($20,150) invested at 7%	$153,386
Monthly shortfalls ($4,669 total by yr 30) investedThe money you'd have put into the building while it lost money	$30,740
What you'd walk away with	$184,126
Building minus stocks	$445,957

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,223
Minus 6% selling cost	−$22,573
Minus loan still owedTenants' rent paid down all $139,499 of principal by year 30	$0
Plus rental profits, invested at 7%$70,368 of profit by year 30, before investment growth	$111,166
What you'd walk away with	$464,816
If you put the same money in stocks
Cash to close ($20,150) invested at 7%	$153,386
Monthly shortfalls ($16,861 total by yr 30) investedThe money you'd have put into the building while it lost money	$102,344
What you'd walk away with	$255,730
Building minus stocks	$209,086

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,496
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $131,999 of principal by year 30	$0
Plus rental profits, invested at 7%$162,592 of profit by year 30, before investment growth	$329,230
What you'd walk away with	$705,696
If you put the same money in stocks
Cash to close ($37,950) invested at 7%	$288,883
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	$288,883
Building minus stocks	$416,813

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,496
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $131,999 of principal by year 30	$0
Plus rental profits, invested at 7%$83,114 of profit by year 30, before investment growth	$138,761
What you'd walk away with	$515,227
If you put the same money in stocks
Cash to close ($37,950) invested at 7%	$288,883
Monthly shortfalls ($7,459 total by yr 30) investedThe money you'd have put into the building while it lost money	$46,402
What you'd walk away with	$335,286
Building minus stocks	$179,941

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,223
Minus 6% selling cost	−$22,573
Minus loan still owedTenants' rent paid down all $123,999 of principal by year 30	$0
Plus rental profits, invested at 7%$181,752 of profit by year 30, before investment growth	$389,561
What you'd walk away with	$743,211
If you put the same money in stocks
Cash to close ($35,650) invested at 7%	$271,375
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	$271,375
Building minus stocks	$471,836

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,223
Minus 6% selling cost	−$22,573
Minus loan still owedTenants' rent paid down all $123,999 of principal by year 30	$0
Plus rental profits, invested at 7%$98,179 of profit by year 30, before investment growth	$174,703
What you'd walk away with	$528,353
If you put the same money in stocks
Cash to close ($35,650) invested at 7%	$271,375
Monthly shortfalls ($3,364 total by yr 30) investedThe money you'd have put into the building while it lost money	$22,013
What you'd walk away with	$293,388
Building minus stocks	$234,965

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,496
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $123,749 of principal by year 30	$0
Plus rental profits, invested at 7%$182,351 of profit by year 30, before investment growth	$391,446
What you'd walk away with	$767,912
If you put the same money in stocks
Cash to close ($46,200) invested at 7%	$351,684
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	$351,684
Building minus stocks	$416,228

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,496
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $123,749 of principal by year 30	$0
Plus rental profits, invested at 7%$98,678 of profit by year 30, before investment growth	$175,965
What you'd walk away with	$552,431
If you put the same money in stocks
Cash to close ($46,200) invested at 7%	$351,684
Monthly shortfalls ($3,264 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,390
What you'd walk away with	$373,075
Building minus stocks	$179,356

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,223
Minus 6% selling cost	−$22,573
Minus loan still owedTenants' rent paid down all $116,249 of principal by year 30	$0
Plus rental profits, invested at 7%$200,314 of profit by year 30, before investment growth	$448,006
What you'd walk away with	$801,656
If you put the same money in stocks
Cash to close ($43,400) invested at 7%	$330,370
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	$330,370
Building minus stocks	$471,286

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,223
Minus 6% selling cost	−$22,573
Minus loan still owedTenants' rent paid down all $116,249 of principal by year 30	$0
Plus rental profits, invested at 7%$114,266 of profit by year 30, before investment growth	$217,265
What you'd walk away with	$570,915
If you put the same money in stocks
Cash to close ($43,400) invested at 7%	$330,370
Monthly shortfalls ($889 total by yr 30) investedThe money you'd have put into the building while it lost money	$6,130
What you'd walk away with	$336,499
Building minus stocks	$234,416

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 $706K, stocks $289K. 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.

2 bed estimate $900/mo · range $850–$900 · 6 rentals within 1.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
200 E 3rd St Unit Downstairs, Albert Lea	$850	2 / 1	800	0.2 mi	2026-10-04	Duplex triplex
1302 Madison Ave, Albert Lea	$895	2 / 1	870	0.3 mi	2026-06-24	Apartment
1215 Saint John Ave Apt 3, Albert Lea	$950	2 / 1	769	0.5 mi	—	Duplex triplex
133 W William St Apt 201, Albert Lea	$865	2 / 1	788	0.6 mi	—	Apartment
139 E William St, Albert Lea	$880	2 / 1	894	0.6 mi	2025-05-12	Apartment
1516/1520 E Hawthorne St, Albert Lea	$895	2 / 1	—	1.6 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 922 JEFFERSON AVE

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 173 days on market, 2 price cuts

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 2024. 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.	$864
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,430
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 1892: +1 pt capital reserve	8% / 9%

Status history

2026-04-15Price cut at $164,999 (was $169,999) · from listing history
2025-06-10Price cut at $169,999 (was $189,900) · from listing history
2026-04-15New at $164,999

From the listing Listing

Listed as	duplex up and down
Property tax, 2024	$864
County	Freeborn
Parcel number	340141470

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.