Country Acreage with
For Sale
$209,900
Pending
1024 Dakota Ave., Clare, IA 50524
Land, Acreage, Clare, IA
Property Size1,544 SF
Lot Size1.82 Acres
Days on Market137
Property Features for 1024 Dakota Ave.
General Information
Property type
Land
Property subtype
Other
Vegetation
Wooded
Interior features
Hardwood Floors
Exterior features
Fenced Yard, Outbuildings, Shed(s), Wooded, Workshop
Fencing
Fenced
Appliances
Dishwasher, Electric Range, Refrigerator
Elementary school district
Manson/NW Webster/FD
Middle school district
Manson/NW Webster/FD
High school district
Manson/NW Webster/FD
Subdivision
Webster
Standard status
Pending
Size
1,544 SF
Lot size
1.82 Acres
Taxes and HOA fees
Tax Annual Amount
1305
Utilities
Heating system
Forced Air, Propane (Heating)
Cooling system
Central Air
Water source
Well
Building Details
Flooring type
Hardwood
Roof type
Metal
Architectural style
Other
Additional Structures
Workshop, Outbuilding
Listing Agency:
Kesterson Realty Inc
(515) 955-7714
Listed By:
Jeremiah Condon · License #B63052000
(515) 571-8326
Added: Apr 16
Changed: Aug 19
Last Checked: Aug 30 at 6:06PM
MLS# 29821
Copyright © 2026 Fort Dodge Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set on 1.82 acres just outside Clare, Iowa, this property offers a 4-bedroom, 2-bath farmhouse with original hardwood floors throughout. The home’s layout provides character and comfortable interior living space.
The acreage includes a versatile 36 x 30 shed with a concrete floor and heating and cooling, along with additional outbuildings on site. Two chicken coops are also included with the property.
Located at 1024 Dakota Ave., Clare (Webster County), the site is suited for those looking for rural space with multiple accessory structures for storage, workshop use, or other on-site needs.
The acreage includes a versatile 36 x 30 shed with a concrete floor and heating and cooling, along with additional outbuildings on site. Two chicken coops are also included with the property.
Located at 1024 Dakota Ave., Clare (Webster County), the site is suited for those looking for rural space with multiple accessory structures for storage, workshop use, or other on-site needs.
Key Highlights
- Acreage offers country living just outside of Clare, Iowa.
- 36 x 30 shed with concrete floor, heating, and cooling, suitable for workshop, storage, or hobbies.
- Charming 4‑bedroom, 2‑bath farmhouse.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,554
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$231,080
$231.1K
Cap Rate 7%
$165,057
$165.1K
Cap Rate 9%
$128,378
$128.4K
Market Conditions
NOI Build-Up for 1,544 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.4K $14.52/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$21.0K $13.61/SF
− OpEx
−$9.5K −$6.12/SF
NOI
$11.6K $7.48/SF
Area
Webster County, IA
Vacancy
6.30%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$231,080
Cap Rate 7%
$165,057
Cap Rate 9%
$128,378
Alternative Uses
Best Use
Apartment 5plus
$165.1K
$144.4K – $192.6K
NOI $11,554 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$278.2K
$243.5K – $324.6K
NOI $19,477 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 50524, IA
524
Population
204
Households
2.6
Avg Household Size
44
Median Age
23%
College-Educated
95%
High-School Grad
57.2 sq mi
ZIP Area
9
Density / Sq Mi
$89,063
Median Household Income
$51,979
Median Earnings
$650
Median Rent
$200,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - A 1.82-acre property with a 36x30 outbuilding featuring a concrete floor and heating and cooling.
Where is this single family property located?
The property is located at 1024 Dakota Ave. Clare, IA.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Acreage offers country living just outside of Clare, Iowa.; 36 x 30 shed with concrete floor, heating, and cooling, suitable for workshop, storage, or hobbies.; Charming 4‑bedroom, 2‑bath farmhouse.
