518 E 5th Street

Albert Lea, MN
$ 127,500 Beds 3 Baths 1 Sq 1,047
Monthly Estimate* How much can I afford?

Whether you're searching for your first home or a great investment opportunity, this affordable 3-bedroom, 1-bath home offers the perfect combination of value, comfort, and move-in-ready updates. Step inside to discover a bright, refreshed interior featuring all new flooring and fresh paint throughout the main level, creating a clean, modern feel from the moment you walk in. The functional layout offers comfortable living spaces, three well-sized bedrooms, and a full bath designed for everyday living. Outside, you'll appreciate the low-maintenance vinyl siding, providing lasting durability and attractive curb appeal. With its affordable price point, thoughtful updates, and opportunity to make it your own, this home is one you won't want to miss. Schedule your showing today and see all it has to offer!

Single Family

  • Price
  • $ 127,500
  • City
  • Albert Lea
  • Bedrooms
  • 3
  • Full Bathrooms
  • 1
  • County
  • FREEBORN
  • Half Bathrooms
  • 0
  • Area
  • Lake Add
  • Lot Size
  • 0.1 Acres
  • Zip
  • 56007
  • Sqr Footage
  • 1,047
  • Year Built
  • 1923
  • Taxes
  • $ 746
  • Style
  • Single Family
  • MLS#
  • 7119339
Listed By: eXp Realty
Data Source: Northstar MLS (NSTAR)

Features

General

Living Area 1047
Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air
Appliances Dishwasher,Dryer,Range,Refrigerator,Washer
Year Built 1923
Levels Two
Property Subtype Single Family
Tax Year 2025
Accessibility None
County Freeborn
New Construction No
Property Type Residential
HOA No
Contingency None
Subdivision Name Lake Add
Full Baths 1
Directions From Frank Ave,turn East onto 5th St,property is on the right.
City Albert Lea
High School District Albert Lea
Zoning Description Residential-Single Family
Lot Size Units Acres
Property Attached Y/N No
Land Lease Y/N No
Tax Annual Amount 746
Additional Parcels Y/N No
Standard Status Active
Lender Owned No
PostalCity Albert Lea

Interior Features

Basement Full,Unfinished
Basement (Y/N) Yes
Fireplace Y/N No
Above Grade Finished Area 1047
Total Bedrooms 3
Total Baths 1
Fuel Natural Gas

Exterior Features

Parking Features Gravel
Water Source City Water/Connected
Lot Size Area 0.1
Building Area Total 1663
Lot Dimensions 132x33
Waterfront Y/N No
Foundation Area 616

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Faribault, MN office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

7/31/2026 Listed $136,000
8/13/2026 7% - $127,500

Property vs Zip Code Average in 56007

Price
AVG $280K
$130K
Taxes
AVG $3,249
$746
Year Built
AVG 1951
1923
Visits
AVG 99
29
Data Provided by Inside Real Estate®

518 E 5th Street Albert Lea, MN is a Single Family Home for sale at $127500 with 1047 sqft and a lot size of 0.1 Acres Acre(s). 518 E 5th Street Albert Lea has 3 bedrooms, 1 baths and was built in 1923. The property's zip code is 56007 which is in Albert Lea, MN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.