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    131 N 8th St Fort Dodge, IA 50501

    View on Map
    For Sale
    $1,080,000

    MULTI_FAMILY - Fort Dodge, IA

    Property size:
    15,152 SF
    Lot size:
    0.48 Acres
    Added:
    Feb 11, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 1 at 2:06 pm

    Property Features for 131 N 8th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bedrooms
    32
    Rooms
    Bedroom 27, Bedroom 31, Bedroom 11, Bedroom 5, Bedroom 17, Bedroom 4, Bedroom 25, Bedroom 30, Bedroom 28, Bedroom 9, Bedroom 13, Bedroom 24, Bedroom 12, Bedroom 2, Bedroom 18, Bedroom 8, Bedroom 15, Bedroom 23, Bedroom 19, Bedroom 14, Bedroom 6, Bedroom 21, Bedroom 32, Bedroom 20, Bedroom 3, Bedroom 7, Bedroom 29, Bedroom 1, Bedroom 10, Bedroom 22, Bedroom 26, Bedroom 16
    Parking
    13
    Parking features
    On Street, Carport
    Exterior features
    Paved Street
    Standard status
    Active
    Size
    15,152 SF
    Lot size
    0.48 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    5786

    Utilities

    Heating system
    Hot Water(Heating), Radiant

    Building Details

    Floors in Building
    2
    Number of units
    26
    Roof type
    Tar/Gravel, Rubber

    We can help!

    Listing Contact
    Stephanie Bishop
    Stephanie Bishop

    Listing agent Stephanie Bishop

    Listing office Kesterson Realty Inc 1926 1st Avenue S, Ft. Dodge, IA

    Listing date Feb 11, 2026

    MLS# 28686

    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.

    Overview

    Fort Dodge Multifamily Investment Property

    This multifamily property, located in Fort Dodge, Iowa, features 26 units and is suitable for investors. The property includes on-site laundry facilities and a carport. The unit mix comprises 22 one-bedroom units, two two-bedroom units, and two three-bedroom units. The scheduled rents are $550 to $600 for the one-bedroom units, $700 for the two-bedroom units, and $900 for the three-bedroom units. The property is zoned for residential use and is situated on a 0.48-acre lot. The building has a total area of 15,152 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Dodge
    County
    Webster
    State
    Iowa
    Longitude
    -94.18754
    Latitude
    42.507083

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    FAQs

    What type of property is this?
    Apartment building - 26-unit multifamily property in Fort Dodge, Iowa, for sale.
    Where is this apartment building located?
    The property is located at 131 N 8th St Fort Dodge, IA.
    What is the asking price?
    The asking price for this property is $1,080,000.
    What are key features of this property?
    This property features: 26‑unit apartment building, ideal for investors; Attractive mix of unit types: **22 one‑bedroom, 2 two‑bedroom, and 2 three‑bedroom units**; Carport parking available
    (515) 227-8627
    We can help!
    Listing Contact
    Stephanie Bishop
    Stephanie Bishop
    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.

    More about this property
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