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    1312/1314 Wilson Avenue Ames, IA 50010

    View on Map
    Pending
    $330,000

    MULTI_FAMILY - Ames, IA

    Property size:
    1,632 SF
    Lot size:
    0.28 Acres
    Added:
    Mar 9, 2026
    Days on Market:
    25
    Last Refresh:
    Apr 2 at 9:06 am

    Property Features for 1312/1314 Wilson Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RL
    Exterior features
    Aluminum Siding, Brick
    Basement
    Full
    Standard status
    Pending
    APN
    05-35-354-190
    Size
    1,632 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    TaxDescription
    see assessor site
    TaxAnnualAmount
    3684

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1958
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate, Hardwood

    We can help!

    Listing Contact
    Van Winkle Real Estate Team

    Listing agent Van Winkle Real Estate Team

    Listing office RE/MAX Concepts-Ames 2704 Stange Rd, Ankeny, IA

    Listing date Mar 9, 2026

    MLS# 69564

    Copyright © 2026 Central Iowa Board of Realtors, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Duplex Investment Opportunity

    This well-maintained duplex presents a turnkey investment opportunity, offering strong rental potential with numerous recent updates and major system improvements already completed. Located in Ames, Iowa, the property consists of two units. Unit 1314 has been extensively updated with a fully renovated bathroom, along with a brand-new furnace and air conditioning system installed in 2024. Unit 1312 features a new water heater installed in April 2024. A major upgrade to the property includes all-new plumbing from each unit's bathroom through the building and out to the exterior main line, including replacement of the main plumbing under the basement slab. Both units also have bathroom plumbing roughed in within the basement, currently capped beneath the concrete, offering future potential for additional bathroom space. Additional updates include a new storm door installed at 1312 and a new storm door for 1314 (included and ready for installation). The property, situated on a 0.2763-acre lot, is zoned RL. The building has 1632 square feet of living space. This property is ideal for investors looking for a solid duplex with major mechanical and infrastructure improvements already completed, while still offering future value-add potential in the basement spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.618103
    Latitude
    42.03502

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with recent updates and strong rental potential.
    Where is this duplex located?
    The property is located at 1312/1314 Wilson Avenue Ames, IA.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: Turnkey duplex with strong rental potential, ideal for investors.; Major plumbing upgrades completed, including replacement of the main plumbing line under the basement slab.; **Unit 1314 features a fully renovated bathroom and a new furnace and AC system (2024).**
    (515) 276-2872
    We can help!
    Listing Contact
    Van Winkle Real Estate Team
    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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