1315 Fairlane Ter
Albert Lea, MN 56007
3 bd 2 ba 1,565 sqft Built 1956 Lot 12,807 sqft single_family
Most recent sale
$159,900
Jul 8, 2022
Location
Timeline: Sale, Listing & Tax History
Recorded events
| Date | Event | Price | Source |
|---|---|---|---|
| Nov 21, 2024 | Sold | $180,000 | NorthstarMLS |
| Oct 9, 2024 | Price changed | $179,900 | NorthstarMLS |
| Aug 2, 2024 | Price changed | $185,000 | NorthstarMLS |
| May 10, 2024 | Listed | $194,999 | NorthstarMLS |
| Jul 8, 2022 | Sold | $159,900 | MLS #6191085 |
| May 19, 2022 | Price changed | $164,900 | MLS #6191085 |
| May 9, 2022 | Listed | $169,900 | MLS #6191085 |
| Jul 1, 2003 | Sold | $96,000 | MLS #2795517 |
| Mar 13, 2003 | Listed | $104,900 | MLS #2795517 |
Tax assessment history
| Year | Building | Land | Total assessed | Tax paid |
|---|---|---|---|---|
| 2022 | — | — | $106,300 | $1,980 |
| 2020 | — | — | $108,400 | $1,882 |
| 2019 | — | — | $100,000 | $1,554 |
| 2018 | — | — | $82,400 | $1,320 |
| 2017 | $51,132 | $17,068 | $68,200 | $1,088 |
| 2016 | $48,482 | $10,418 | $58,900 | $978 |
| 2015 | $42,455 | $9,945 | $52,400 | $886 |
| 2014 | $38,794 | $9,606 | $48,400 | $1,110 |
| 2013 | $51,289 | $10,611 | $61,900 | $1,226 |
| 2012 | $51,005 | $10,595 | $61,600 | $1,238 |
| 2011 | $51,792 | $11,608 | $63,400 | $1,226 |
| 2009 | $88,700 | $16,900 | $105,600 | $1,392 |
| 2008 | $88,700 | — | $105,600 | $1,330 |
| 2007 | $88,700 | $16,900 | $105,600 | $1,136 |
Property facts
Year built
1956
Property type
single_family
Stories
1
Beds
3
Baths
2
Living area
1,565 sqft
Lot size
12,807 sqft
ZIP code
56007
City
Albert Lea
Street
Fairlane Ter
Coordinates
43.66108, -93.35130
Comparable properties nearby
Block-level micro-comps
Same street, ±3 house numbers, sold in the last 24 monthsInvestment analysis
Estimates based on local averages — not personalized adviceEstimated monthly rent
$959
Gross rental yield
7.20%
Implied cap rate
4.68%
Trend-extrapolated value
—
Frequently asked questions
When did 1315 Fairlane Ter last sell?
1315 Fairlane Ter most recently sold on Jul 8, 2022 for $159,900.
What is the current tax assessment for 1315 Fairlane Ter?
The most recent total assessment for 1315 Fairlane Ter (year 2022) is $106,300 with $1,980 in property tax.
How does 1315 Fairlane Ter's assessment compare to its last sale price?
The current assessment is 33.5% below the last sale price of $159,900.
When was 1315 Fairlane Ter built?
1315 Fairlane Ter was built in 1956.
How does 1315 Fairlane Ter compare to others on Fairlane Ter?
We track 8 other properties on Fairlane Ter. Browse the list under "Other properties on Fairlane Ter" to compare beds, baths, and sale history.
What are the property facts for 1315 Fairlane Ter?
1315 Fairlane Ter is a 3 bed, 2 bath, 1,565 sqft, 12,807 sqft lot single_family.
Is 1315 Fairlane Ter a flip candidate?
No — 1315 Fairlane Ter does not appear in our flips dataset.
Is 1315 Fairlane Ter a tax-appeal candidate?
No — 1315 Fairlane Ter is not currently flagged as a tax-appeal candidate.
Forecast for this area
ZIP-area linear projection — not a per-property automated valuationQuarterly trend
+3.0%
Implied 1-yr
+11.9%
2026 Q3
$243.6K
2026 Q4
$249.7K
ZIP 56007 — Median Price History + Forecast
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Geography
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