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    12933 315th St Lamoni, IA 50140

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    Claim this Listing
    For Sale
    $960,000

    Farm/Estate, Contemporary - Lamoni, IA

    Type:Farm
    Property size:
    1,944 SF
    Lot size:
    86.00 Acres
    Price / SF:
    $493/SF
    Added:
    Feb 13, 2026
    Days on Market:
    82
    Last Refresh:
    May 6 at 8:06 am

    Property Features for 12933 315th St

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    300
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Dining Room, Kitchen
    Parking features
    Garage, Garage - Detached
    Fireplace
    1
    Basement Y/N
    1
    Standard status
    Active
    APN
    1322100004 and 1322100005 and 1322100001
    Size
    1,944 SF
    Lot size
    86.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4714

    Utilities

    Heating system
    Fireplace(s), Forced Air, Propane (Heating), Wood (Heating), Wood Stove

    Building Details

    Year built
    2002
    Year renovated
    2002
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Tabor Nowlin
    Tabor Nowlin

    Listing agent Tabor Nowlin

    Listing office Preferred Properties Real Estate Services 135 E Main Street, Lamoni, IA

    Listing date Feb 13, 2026

    MLS# 11655242 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hunting Paradise with Cabin and Land

    This 86-acre property, a mix of hunting and tillable land, presents a unique opportunity. The property includes a cabin with 2 bedrooms and 2 bathrooms, along with a 2-car garage situated over a full walkout basement that offers ample storage. Constructed in 2002, the cabin features a kitchen and a vaulted ceiling in the great room. The full basement provides walkout access to the back of the house, a bedroom with an attached bath, extra storage, and a concrete-encased storm-safety room. The detached 2-car garage includes a finished bonus room above, suitable for extra storage or hobby interests. The land is abundant in deer, featuring food plot ground, a pond, and deer stands. The pond contains fish. Located in Decatur County, Iowa, the property is within easy access of groceries and small-college-town amenities, including a local independent coffeehouse. It is also easily accessible from both the Kansas City, MO and Des Moines, IA airports. The property owner is willing to leave two deer stands in place. The owner has bred quail and encouraged quail habitat. The property is zoned 300.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Lamoni
    County
    Decatur
    State
    Iowa
    Longitude
    -93.9580406
    Latitude
    40.5874686

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    FAQs

    What type of property is this?
    Farm - 86-acre Iowa getaway with cabin, hunting land, and tillable acres.
    Where is this farm located?
    The property is located at 12933 315th St Lamoni, IA.
    What is the asking price?
    The asking price for this property is $960,000.
    What are key features of this property?
    This property features: 86 acres of prime hunting and tillable land in Decatur County, Iowa.; Cabin featuring 2 bedrooms, 2 bathrooms, awesome kitchen, vaulted ceiling, and walkout basement with storm‑safety room.; Detached 2‑car garage with finished bonus room above.
    (641) 784-6642
    We can help!
    Listing Contact
    Tabor Nowlin
    Tabor Nowlin
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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