Albert Lea Homes under $400,000

Welcome to Albert Lea, Minnesota—a hidden gem nestled in Freeborn County, where small-town charm meets vibrant community spirit. This picturesque city, known for its stunning lakes and lush parks, offers a delightful blend of outdoor recreation and urban convenience. With a rich history and a friendly atmosphere, Albert Lea is the perfect place to call home.

Whether you’re an outdoor enthusiast or someone who enjoys a peaceful lifestyle, Albert Lea has something for everyone. The city is surrounded by beautiful lakes, including the popular Fountain Lake and Albert Lea Lake, which provide ample opportunities for fishing, boating, and picnicking. The scenic parks, such as Myre-Big Island State Park, invite you to explore nature's beauty through hiking trails and wildlife watching.

For those considering a move, Albert Lea boasts a diverse selection of homes under $400,000, making it an attractive option for families, first-time buyers, and retirees alike. From charming single-family homes with spacious yards to modern townhouses, the real estate market here offers a variety of choices that cater to different lifestyles and budgets. With affordable prices and a welcoming community, you can enjoy the comforts of home without stretching your finances.

Albert Lea is not just a place to live; it’s a place to thrive. With excellent schools, vibrant local events, and a strong sense of community, you’ll find yourself right at home in this delightful city. Come discover the charm of Albert Lea and explore the wonderful homes waiting for you!

Newest Albert Lea Homes under $400,000

$309,500

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7155608 MLS ⋅ 1,016 SqFt.

Be the first to own this new-construction home, designed for convenient main-level living. The first floor includes all three bedrooms, two full bathrooms, and laundry. The primary suite features a spacious private bath. A fireplace anchors the living room, with a welcoming front porch just outside for enjoying Minnesota’s perfect spring, summer, and fall weather. Located off the finished attached garage, the kitchen offers stainless-steel appliances, abundant cabinetry, and space for a small breakfast table and chairs. Need more room in the future? The unfinished walk-out basement has two egress windows, allowing for up to two additional bedrooms, along with space for a family room and extra storage. It is also roughed in for another full bathroom. The large backyard offers alley access and may accommodate a future detached garage. Don’t miss the opportunity to be the first to enjoy this home.

409 W Clark Street, Albert Lea

Listing courtesy of Robert Hoffman Realty Inc..

$110,000

ACTIVE Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7157461 MLS ⋅ 1,195 SqFt.

A charming home with character, versatile living spaces, and Albert Lea Lake within walking distance! This inviting 1.5-story home welcomes you with a front deck leading to the entry, where hardwood floors extend throughout the main level. The spacious living room features a freestanding wood stove with a stone surround, adding warmth and character to the space. A main-level bedroom and full bathroom offer everyday convenience, while upstairs, all-new carpet enhances the spacious second bedroom and versatile loft, ideal for a home office, reading area, or additional living space. The unfinished basement provides generous storage and features a sauna for added enjoyment. Outside, a concrete patio offers a great spot for relaxing, while the detached garage provides additional storage and parking. Enjoy the charm of this home and the convenience of living just a short walk from Albert Lea Lake!

647 E 7th Street, Albert Lea

Listing courtesy of Kris Lindahl Real Estate.

$207,900

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7157045 MLS ⋅ 2,532 SqFt.

Wonderful rambler on a corner lot awaits a new owner. This home is a big home is good shape. 2 bedrooms on the main level with a near formal dining area. There is a large living room on the front and a cozy family room in the back with access to the deck. Both bedrooms are good sized. Another flex room could easily be a third bedroom on this level. Downstairs is another huge kitchen with a dining area and sitting room. The area is just off the garage. Come see this one before its gone!

430 Columbus Avenue, Albert Lea

Listing courtesy of HOMESTEAD ROAD.

$139,000

ACTIVE Status ⋅ 3 Beds ⋅ 1 Baths ⋅ 7158174 MLS ⋅ 912 SqFt.

Welcome home to this inviting 3-bedroom, 1-bath home featuring convenient one-level living with all three bedrooms and a full bathroom on the main floor. Enjoy the fresh look and feel of new flooring, comfortable living spaces, and the added convenience of a double garage with plenty of room for vehicles and storage. Tucked away on a quiet dead-end street, this home offers added privacy with less through traffic. Whether you're a first-time buyer, downsizing, or looking for your next place to call home, this property is move-in ready and waiting for you!

113 S 7th Avenue, Albert Lea

Listing courtesy of Coldwell Banker River Valley, REALTORS.

808 Lake Chapeau Drive Unit 201, Albert Lea

$232,500

ACTIVE Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7156458 MLS ⋅ 1,145 SqFt.

Stunning lake views await in this exceptional 2-bedroom, 2-bathroom condo. End unit with split floorplan, kitchen window and a huge balcony overlooking serene water views. Both bedrooms have lake views and both have access to the balcony. One garage stall with interior access. This condo is completely move in ready. Call today for your private showing!

808 Lake Chapeau Drive Unit 201, Albert Lea

Listing courtesy of Leland Realty.

$204,900

ACTIVE Status ⋅ 2 Beds ⋅ 1 Baths ⋅ 7156874 MLS ⋅ 1,082 SqFt.

Schedule appointment today to tour this two bedroom home that could be easily made a three bedroom home. The basement of this home has been partially remodeled with framing done, egress window installed, insulation, wiring, rough in for waste, drain and vent piping to accommodate a 3/4 bathroom, finished laundry room and storage room. Upgrades on the main level of this home include new laminate flooring throughout, new kitchen cabinetry, quartz countertops in the kitchen and bathroom, new furnace, AC, water heater, interior repainted throughout, ceiling can lighting and new concrete patio in front of the home. This property is located near Fountain Lake, the public boat access, municipal pedestrian trail that extends around most of the lake and a public golf course. This home is very clean and close to being a turn key home.

1113 Shore Acres Drive, Albert Lea

Listing courtesy of Century 21 Atwood.

$57,000

ACTIVE Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7156557 MLS ⋅ 1,123 SqFt.

Looking for your next investment property, rental, or fixer-upper to make your own? Here it is! Priced to sell! This two-bedroom, 1½-bath home offers newer windows and siding, along with plenty of potential. The main level features a bedroom, living room, eat-in kitchen, and a bonus room that would make a great home office or flex space. Upstairs, you’ll find another bedroom and a full bathroom. Step out back onto the deck overlooking a small pond area — a great spot to relax and enjoy the outdoors. Whether you’re looking to add another rental to your portfolio, find an affordable investment property, or purchase a home with potential to make it your own, this one is worth a look! Don’t wait — it won’t last long at this price. Get this one before it’s gone! Conveniently located within one block of beautiful downtown Albert Lea and just blocks from Albert Lea Lake and the Blazing Star Trail. Enjoy easy access to shopping, dining, parks, recreation, and all that downtown has to offer, with convenient interstate access just minutes away.

918 S Newton Avenue, Albert Lea

Listing courtesy of Unique Realty.

$169,900

ACTIVE Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7155997 MLS ⋅ 1,299 SqFt.

This home offers a unique opportunity on a spacious 1/2 acre of lakeshore property overlooking the scenic Bancroft Bay on Fountain Lake. The living room features east-facing views of the bay, providing a tranquil backdrop for relaxation. With two bedrooms and two bathrooms, the layout accommodates comfortable living while presenting options for customization. Lower-level recreational area is spacious and has a walkout door to a spacious patio overlooking the large backyard and lake view. The property is situated in a great location, with nearby parks and walking trails, enhancing the outdoor experience and community engagement.

1918 Wilby Road, Albert Lea

Listing courtesy of Leland Realty.

$160,000

COMING SOON Status ⋅ 4 Beds ⋅ 1 Baths ⋅ 7155777 MLS ⋅ 1,440 SqFt.

Welcome to this spacious three-bedroom, two-bath home in Albert Lea, within walking distance of the lake and also offering generously sized rooms and plenty of space to spread out. The exterior has been freshly painted and is ready to take on the seasons, while the large two-car detached garage provides excellent room for vehicles, storage, hobbies, or whatever life throws your way. With its comfortable layout, oversized living spaces, and a price that makes sense in today’s market, this is a home worth putting on your list!

320 Vine Avenue, Albert Lea

Listing courtesy of Re/Max Advantage Plus.

$115,000

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7155870 MLS ⋅ 2,062 SqFt.

Unique 3-bedroom, 2 bath with a 2 stall detached garage and main floor laundry. Bring your tools and vision to this fixer upper packed with character. Original woodwork and floors can be beautiful again with a little bit of work. This property can be easily converted back to a duplex as a separate entrance is already in place. Schedule a showing today and see what some sweat equity can bring to this home. Property is being sold strictly AS-IS and is ready for your updates and personal touch. Cash or conventional financing only. Please note: This sale is subject to final probate court review and approval.

815 Frank Avenue, Albert Lea

Listing courtesy of Leland Realty.

$89,900

ACTIVE Status ⋅ 4 Beds ⋅ 1 Baths ⋅ 7155173 MLS ⋅ 900 SqFt.

Affordable living in the heart of Albert Lea! This well-maintained four-bedroom home offers a warm, welcoming atmosphere with a simple, functional layout that makes everyday living easy. Enjoy the comfort of a home that has been thoughtfully cared for, along with added peace of mind of a new roof and gutter system installed in 2026. Whether you're looking for room to grow, a place to put down roots, or an affordable opportunity to become a homeowner, this property is worth a look. The seller is relocating, creating a great opportunity for the next owner to make this home their own. Don't miss your chance to enjoy comfortable, affordable living in a convenient Albert Lea location!

825 W Clark Street, Albert Lea

Listing courtesy of Re/Max Advantage Plus.

$63,000

ACTIVE Status ⋅ 2 Beds ⋅ 1 Baths ⋅ 7155319 MLS ⋅ 937 SqFt.

Investment opportunity knocks! Bring your tools and vision to transform this 2-bedroom home packed with potential. Step inside from the inviting front porch into the living room. The functional main floor layout features a main-floor bedroom alongside a kitchen equipped with main-floor laundry, conveniently situated next to a 3/4 bath. Upstairs, you’ll find a versatile den area with a closet—perfect for a home office, sitting room, or flex space—leading directly into the second bedroom. Outside offers convenient alley access to a single-stall detached garage. Due to condition, property is sold as-is; cash or conventional financing only. Don’t miss your chance to build sweat equity!

112 N 2nd Avenue, Albert Lea

Listing courtesy of Realty ONE Group Black Diamond.

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