Max Reger's contribution to the 'Albumblatt' genre reflects his late-Romantic harmonic palette. It is a rarely performed piece that displays his craftsmanship in miniature format.
The performer must focus on smooth, overlapping phrasing to connect the harmonic progressions effectively.
Comparable difficulty and character — good candidates for what to learn next.
Albumblatt in E-flat major is rated Henle level 4 of 9 — intermediate repertoire, roughly ABRSM grades 5–6. In the RCM system it corresponds to about level 6.
You should be comfortable at Henle level 4 — meaning you can already play level 3–4 pieces cleanly. Learning it one level early is possible as a stretch piece, but more than that usually leads to months of frustration.
A typical performance of Albumblatt in E-flat major lasts about 3 minutes.
Albumblatt in E-flat major is available as free public-domain sheet music on IMSLP — the score is linked directly from this page.
Pieces at a comparable difficulty and character include Allegretto grazioso by Max Reger, Allegretto grazioso in A major by Max Reger, Albumblatt by Max Reger — see the full similar-pieces list on this page.