Move-in Ready Ottumwa
147 N Ward Street Ottumwa, IA 52501
For Sale
$130,000
MULTI_FAMILY - Ottumwa, IA
Property Size1,482 SF
Lot Size0.10 Acres
Price / SF$87.72
Days on Market164
Property Features for 147 N Ward Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Basement
- Unfinished
- Standard status
- Active
- APN
- 7417190082000
- Size
- 1,482 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- R S SMITH'S 3RD ADD N 1/2 LOT 14 BLK 10 (147 N WARD)
- Tax Annual Amount
- 770
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1920
- Number of units
- 3
- Building materials
- Vinyl Siding, Wood Siding
Listing Agency:
Team Real Estate
(641) 682-2221
Listed By:
Lonnie Lunsford · License #***
(641) 226-2235
Added: Feb 10
Changed: Jul 18
Last Checked: Jul 24 at 9:06AM
MLS# 6335500
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 move-in-ready 3-plex is located near downtown and shopping in Ottumwa, Iowa. The property has been remodeled and features new electric and plumbing throughout the building. Ideal for investors seeking steady income, the building contains separate electric meters, allowing each tenant to pay their own electric bill. Each of the three units includes one bedroom, one bathroom, a living room, and a kitchen. The property size is 1482 square feet and the lot size is 0.1 acres. This property offers a healthy rental income stream.
Key Highlights
- Move‑in‑ready 3‑plex with 1 bed, 1 bath units, each with a living room and kitchen
- Units remodeled with new electric and plumbing in the building
- Separate electric meters for each unit so tenants pay their own electric bill
Financial Insights For Multifamily LT 5
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 | $13.3k | $9.00 |
| − Vacancy | −$1.2k | −$0.81 |
| EGI | $12.1k | $8.19 |
| − OpEx | −$3.6k | −$2.46 |
| NOI | $8.5k | $5.73 |
1,482 SF · lease $9.00/SF/yr · vacancy 9.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$121.4K
$106.2K – $141.6K
NOI $8,496 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$116.1K
$101.6K – $135.4K
NOI $8,125 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$324.2K
$283.7K – $378.2K
NOI $22,692 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Remodeled 3-plex near downtown Ottumwa, ideal for investors.
Where is this triplex located?
The property is located at 147 N Ward Street Ottumwa, IA.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Move‑in‑ready 3‑plex with 1 bed, 1 bath units, each with a living room and kitchen; Units remodeled with new electric and plumbing in the building; Separate electric meters for each unit so tenants pay their own electric bill
