Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land in Story City Title is generated by Realmo AI

    1627 Magnolia Place, Story City, IA 50248

    View on Map
    Claim this Listing
    For Sale
    $98,000

    LAND - Story City, IA

    Lot size:
    0.60 Acres
    Added:
    Jan 1, 2024
    Days on Market:
    881
    Last Refresh:
    May 31 at 4:06 pm

    Property Features for 1627 Magnolia Place

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Res
    Standard status
    Active
    Lot size
    0.60 Acres

    Taxes and HOA fees

    Tax Annual Amount
    16

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    We can help!

    Listing Contact
    Real Estate Team, Jennings

    Listing agent Real Estate Team, Jennings License #S39814

    Listing office RE/MAX REAL ESTATE CENTER 1606 SO. DUFF, AMES, IA

    Listing date Jan 1, 2024

    MLS# 63744 Listing URL

    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.

    HighLights

    • Buildable lots in premier residential subdivision
    • Lots ranging from 1/2 to 1 acre
    • Enjoy rolling hills, natural grasses, manicured walking trails and a stocked fishing pond
    • City sewer and rural water
    • Cable and internet options available
    • Five year tax abatement

    Overview

    This residential land is located in Timberland Ridge, a residential subdivision in Story City. The available lots range from 1/2 to 1 acre. The development includes rolling hills, natural grasses, walking trails, and a 2 1/2 acre stocked fishing pond. Lot 8 is proposed as a walkout lot. The lots are scheduled to be buildable in Fall 2020. City sewer, rural water, cable, and internet options are available. A five-year tax abatement is offered. The lot size is 0.6 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Story City
    County
    Story
    State
    Iowa
    Longitude
    -93.572467
    Latitude
    42.195466

    Nearby Similar for Sale

    • $2,850,000
      45,516 SF

      Versatile Industrial Warehouse in Story City

      45,516 SF industrial warehouse on 2.83 acres for sale.
      107 Industrial Park Road, Story City, IA 50248
      View Details
    • $210,000
      2,057 SF

      Commercial Building in Story City

      Commercial building for sale with long-term tenant in place.
      613 Broad Street, Story City, IA 50248
      View Details
    • $339,000
      3,586 SF

      Mixed-Use Building in Story City

      Commercial and residential income property in Story City, Iowa.
      527 Broad Street, Story City, IA 50248
      View Details
    • $105,000

      Residential Land in Story City

      Buildable residential lot in premier subdivision with pond and trails.
      1208 Wicks Way, Story City, IA 50248
      View Details
    • $2,900,000

      Metal Building in Story City

      Metal building with interstate access in Story City, Iowa.
      107 Industrial Park Road, Story City, IA 50248
      View Details
    • $10,000

      Acre of Timber in Story

      One acre of timberland available in Story City, Iowa.
      Deer Run Road, Story City, IA 50248
      View Details
    • $115,000

      Residential Land in Story City

      Buildable residential lot in premier subdivision with pond and trails.
      1217 Wicks Way, Story City, IA 50248
      View Details
    • $103,000

      Residential Land in Story City

      Residential subdivision with buildable lots and stocked fishing pond.
      1220 Wicks Way, Story City, IA 50248
      View Details
    • $84,000

      Residential Land in Story City

      Residential subdivision with buildable lots and appealing amenities.
      1200 Wicks Way, Story City, IA 50248
      View Details
    • $110,000

      Residential Land in Story City

      Buildable residential lot in premier subdivision with pond and trails.
      1616 Magnolia Place, Story City, IA 50248
      View Details
    • $98,000

      Residential Land in Story City

      Residential land with walking trails, fishing pond, and tax abatement.
      1623 Magnolia Place, Story City, IA 50248
      View Details
    • $110,000

      Residential Land in Story City

      Residential land with walking trails, fishing pond, and tax abatement.
      1608 Magnolia Place, Story City, IA 50248
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land with walking trails and fishing pond.
    Where is this residential land & home lot located?
    The property is located at 1627 Magnolia Place Story City, IA.
    What is the asking price?
    The asking price for this property is $98,000.
    What are key features of this property?
    This property features: Buildable lots in premier residential subdivision; Lots ranging from 1/2 to 1 acre; Enjoy rolling hills, natural grasses, manicured walking trails and a stocked fishing pond
    2324663
    We can help!
    Listing Contact
    Real Estate Team, Jennings
    Real Estate License ID: S39814
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1627 Magnolia Place, Story City, IA 50248
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!