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Residential - Vacant LandResidential

508 WATER ST

ALBERT LEA, MN 56007
3
Beds
0
Baths
1,656 ft²
Living AreaTotal finished area of the structures, from county records. Some counties include shared space like hallways or a building gym, so it may not match a listing.
0.1 ac
Lot SizeThe size of the land the home sits on, from county records.
2
StoriesHow many floors the home has above ground.

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$30 (2026)
Assessed ValueThe value the county assigns to this home to calculate property tax. It is often lower than what the home would sell for.$1,700 (2026)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$1,700
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$1,700
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$1,700

Climate Risk

Projected Flood DepthHow deep a serious flood is expected to get here at some point in the next 30 years. Shown in inches.7 in
30-Year Flood ChanceThe chance of at least one serious flood here in the next 30 years, not in any single year.30%
FEMA Flood ZoneFEMA's flood zone for this address. Zones starting with A or V are high risk, and lenders usually require flood insurance there.minimal

Scores 0–100; higher = greater projected risk.

Property Facts

Property TypeThe broad category the county puts this property in, such as residential or commercial.Residential - Vacant Land
CountyFREEBORN
Lot (acres)The size of the land the home sits on, from county records.0.10
RoofThe main material covering the roof, such as asphalt shingle or tile.Asphalt
HeatingThe type of heating system in the home.Baseboard
PoolWhether the property has a pool, and what kind, such as in-ground.No

Assigned SchoolsThe public schools this address is zoned for. Boundaries change, so confirm with the district before you count on it.

E
Lakeview Elementary SchoolB-
Elementary · Grades PK–5 · 0.4 mi
M
Southwest Middle SchoolD+
Middle · Grades 6–7 · 1.0 mi
H
Albert Lea Senior High SchoolC-
High · Grades 8–12 · 2.0 mi

District: Albert Lea Public School District

Neighborhood · ZIP 56007These are comparison scores, not percentages. 100 equals the national average, so 150 means about 50% above average.

CrimeLocal crime compared with the rest of the country, where 100 is average. It reflects things like population density, income, and how crime gets reported.116
Air pollutionOverall air pollution compared with the rest of the country, where 100 is average. Lower is cleaner.82
EarthquakeEarthquake risk and likely building damage compared with the rest of the country, where 100 is average. Scores can run far above 100.13

Index scale: 100 = US average (tick). Lower is better.

Homes occupiedThe share of homes here that someone lives in. The rest sit empty, including vacation and for-sale homes.93%
Bachelor's or higherThe share of adults 25 and older whose highest degree is a bachelor's degree.11%
Poverty rateThe share of people whose household income falls below the federal poverty line, which varies by family size.9.0%
UnemploymentThe share of men 16 and older who are out of work and actively looking. Only men are counted in this figure.0.8%
PopulationHow many people live in this area.21,032
DensityPeople per square mile. Higher numbers mean a more crowded, urban area.117 / mi²
Median incomeThe middle household income here — half of households earn more, half earn less.$61,706
Average incomeThe average household income. It runs higher than the median when a few high earners pull it up.$84,906
Average tempThe average temperature here across a full year.45°F
Annual precipHow much rain and melted snow falls here in a typical year.33 in
SunshineThe share of daylight hours that get direct sun in a typical year, counting cloud cover.58%

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Data by ATTOM. Valuations are automated estimates, not appraisals. Photos from Google Street View and may not depict the current property state.

How this home compares

508 Water St measured against every home in its neighborhood, its ZIP code and its county, using county assessor records refreshed nightly. A home can stand out in one of those areas and look ordinary in another, because each one holds a different mix of homes.

  • Bigger than 75% of homes in Albert Lea 56007
  • Has a smaller lot than 95% of homes in Freeborn County

How it measures up in Albert Lea 56007

The dot is this home. The mark in the middle is the typical home in Albert Lea 56007.

Living area1,656 ft²
SmallerTypical 1,280 ft²Bigger

Bigger than 75% of homes nearby

Lot size0.1 ac
SmallerTypical 0.23 acBigger

Bigger than 7% of homes nearby

How 508 Water St ranks against every home in each area.
MeasureThis homeAlbert Lea 56007Freeborn County
Living areabigger than1,656 ft²75% of homes72% of homes
Lot sizebigger than0.1 ac7% of homes5% of homes

About 508 Water St

When did 508 Water St, Albert Lea, MN last sell?

508 Water St, Albert Lea, MN last sold on Jan 1, 1900, according to the county's recorded deed.

How big is 508 Water St, Albert Lea, MN?

508 Water St, Albert Lea, MN has 3 bedrooms, 1,656 square feet of living space and a 0.10-acre lot.

What schools serve 508 Water St, Albert Lea, MN?

508 Water St, Albert Lea, MN is assigned to Lakeview Elementary School (elementary), rated B-; Southwest Middle School (middle), rated D+; Albert Lea Senior High School (high), rated C-. All sit in Albert Lea Public School District. Attendance boundaries change — confirm with the district before relying on an assignment.

How does 508 Water St, Albert Lea, MN compare to other homes in Albert Lea 56007?

Among the 8,591 homes in Albert Lea 56007, it is bigger than 75% of them (1,656 ft² against a typical 1,280 ft²) and its lot is bigger than 7% of them (0.1 ac against a typical 0.23 ac). These shares are recounted nightly from the full county assessor record for each area, not from active listings.

What are the property taxes on 508 Water St, Albert Lea, MN?

The 2026 property tax bill for 508 Water St, Albert Lea, MN was $30. The county assessed it at $1,700.

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