Updated Duplex with Private
1117 Avenue D Fort Madison, IA 52627
For Sale
$172,000
MULTI_FAMILY - Fort Madison, IA
Property Size2,000 SF
Lot Size0.25 Acres
Price / SF$86
Days on Market140
Property Features for 1117 Avenue D
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Basement
Partial
Standard status
Active
APN
024715042330150
Size
2,000 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
#835 1117 AVE D LOT 867 E 1/2 LOT 866
Tax Annual Amount
2857
Utilities
Heating system
Heat Pump (Heating), Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Fraise Auction & Real Estate
(319) 372-9121
Listed By:
Laura Story · License #***
(319) 372-9121
Added: Mar 12
Changed: Jul 18
Last Checked: Jul 29 at 7:06PM
MLS# 6336308
Copyright © 2026 NoCoast MLS. 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.
This updated duplex offers two distinct living spaces under one roof. The main floor unit features two bedrooms and has been maintained with vinyl plank flooring, quartz countertops, cherry-finished cabinetry, and stainless appliances. The upstairs apartment is accessed from the exterior and includes an open concept living, dining, and kitchen area, one bedroom, and in-unit washer/dryer hookup provisions.
Outside, there is a private back yard with a composite deck and awning, along with landscaped perennial flowers. The property also includes a water feature that can be controlled remotely, adding a distinctive outdoor element for daily enjoyment.
Parking and storage are built into the layout. A three-car garage is reserved for the owner, and a carport is reserved for the tenant. With two separate units—one well-suited for rental and one available for flexible personal use—this home can support buyers looking for an income-producing property while still maintaining options for how the space is used.
Outside, there is a private back yard with a composite deck and awning, along with landscaped perennial flowers. The property also includes a water feature that can be controlled remotely, adding a distinctive outdoor element for daily enjoyment.
Parking and storage are built into the layout. A three-car garage is reserved for the owner, and a carport is reserved for the tenant. With two separate units—one well-suited for rental and one available for flexible personal use—this home can support buyers looking for an income-producing property while still maintaining options for how the space is used.
Key Highlights
- Main floor 2‑bedroom unit with vinyl plank flooring, quartz countertops, cherry‑finish cabinetry, and stainless appliances
- Upstairs apartment with exterior access, open concept living/dining/kitchen, 1 bedroom, and washer/dryer hookups
- Private backyard with composite deck and awning, plus perennial flowers and a remote‑controlled water feature
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $14.76 |
| − Vacancy | −$1.7k | −$0.83 |
| EGI | $27.9k | $13.93 |
| − OpEx | −$12.5k | −$6.27 |
| NOI | $15.3k | $7.66 |
2,000 SF · lease $14.76/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$231.8K
$202.8K – $270.4K
NOI $16,224 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$219.0K
$191.6K – $255.5K
NOI $15,327 @ 7.0% cap · market cap 8.91%
Theoretical Best
Mixed Use
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences with modern finishes and outdoor space, plus garage and a tenant carport for practical daily use.
Where is this duplex located?
The property is located at 1117 Avenue D Fort Madison, IA.
What is the asking price?
The asking price for this property is $172,000.
What are key features of this property?
This property features: Main floor 2‑bedroom unit with vinyl plank flooring, quartz countertops, cherry‑finish cabinetry, and stainless appliances; Upstairs apartment with exterior access, open concept living/dining/kitchen, 1 bedroom, and washer/dryer hookups; Private backyard with composite deck and awning, plus perennial flowers and a remote‑controlled water feature
