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    23254 235th Place Lacona, IA 50139

    View on Map
    For Sale
    $499,000

    Ranch - Lacona, IA

    Type:Ranch
    Property size:
    1,120 SF
    Lot size:
    25.31 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    11
    Last Refresh:
    Apr 3 at 10:06 pm

    Property Features for 23254 235th Place

    General Information

    Property type
    Residential
    Property subtype
    Ranch
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Garage, Garage - Attached
    Standard status
    Active
    APN
    29000260469
    Size
    1,120 SF
    Lot size
    25.31 Acres

    Taxes and HOA fees

    Tax Year
    1991
    Tax Annual Amount
    2736

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Architectural style
    Ranch

    We can help!

    Listing Contact
    Dylan Hand

    Listing agent Dylan Hand

    Listing office Whitetail Properties Real Estate, LLC 121 S Madison St; Box 251, Pittsfield, IA

    Listing date Mar 24, 2026

    MLS# 6336881 Listing URL

    Copyright © 2026 RLI Farm & Ranch Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Warren County Acreage with Home

    Located in Warren County, Iowa, this 25.31-acre property features a mix of timber, pasture, and rolling terrain. The property includes a 3-bedroom, 2-bathroom home with a walk-out basement and an attached two-car garage. The home features a spacious layout with granite countertops, hardwood flooring, and tile flooring. The walk-out basement offers additional space suitable for storage, recreation, or finishing. The land around the home includes a combination of timber and open ground that could be used for pasture, small livestock, or hobby farming. The timber provides privacy and natural surroundings. The rolling terrain adds character to the property and provides views across the acreage. Wildlife, including deer and turkey, are commonly seen on the property. There are also two sheds on the property that provide storage space for equipment, tools, or outdoor gear. A small portion of the property is enrolled in a Conservation Reserve Program (CRP) contract that provides annual income. The property offers space for recreation, livestock, hobby farming, or enjoying privacy. The property size is 1120 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Lacona
    County
    Warren
    State
    Iowa
    Longitude
    -93.358748
    Latitude
    41.185072

    FAQs

    What type of property is this?
    Ranch - 25.31 acres with a 3-bedroom home and outbuildings.
    Where is this ranch located?
    The property is located at 23254 235th Place Lacona, IA.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: 25.31 acres of mixed‑use land offering privacy and recreational opportunities.; 3‑bedroom, 2‑bathroom home with walk‑out basement and attached two‑car garage.; Spacious interior layout featuring granite countertops, hardwood, and tile flooring.
    (217) 285-9000
    We can help!
    Listing Contact
    Dylan Hand
    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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