Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    401 S 15th Street Fort Dodge, IA 50501

    View on Map
    Claim this Listing
    Picture of Duplexes at 401 S 15th Street, Fort Dodge, IA
    For Sale
    $54,900

    MULTI_FAMILY - Fort Dodge, IA

    Type:Duplex
    Property size:
    1,518 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $36/SF
    Added:
    Oct 20, 2025
    Days on Market:
    199
    Last Refresh:
    May 6 at 2:06 am

    Property Features for 401 S 15th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    Residential
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
    Parking
    1
    Parking features
    Garage
    Standard status
    Active
    Size
    1,518 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    668

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Number of units
    2
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Dave Essing

    Listing agent Dave Essing

    Listing office Fort Dodge Realty 1605 1st Avenue N Suite 1, Ft Dodge, IA

    Listing date Oct 20, 2025

    MLS# 26533 Listing URL

    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 Income Property

    This residential income property, located in Fort Dodge, Iowa, is a multifamily duplex. The property has a total area of 1518 square feet and is situated on a 0.08-acre lot. It is currently fully rented and zoned for residential use.
    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 Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Dodge
    County
    Webster
    State
    Iowa
    Longitude
    -94.177401
    Latitude
    42.501873

    Nearby Similar for Sale

    • $39,900

      Historic Fort Dodge Federal Building

      Iconic 4-level commercial property in Fort Dodge, Iowa.
      205 S 8th st, Fort Dodge, IA 50501
      View Details
    • $314,900
      3,250 SF

      Income-Producing 6-Plex Near Downtown

      Spacious 6-plex with high occupancy and additional expansion lot.
      306 Haskell St., Fort Dodge, IA 50501
      View Details
    • $275,000

      Commercial Property in Fort Dodge, IA

      Two buildings with drive-thru on a busy commercial road.
      1800 5th Ave. S, Fort Dodge, IA 50501
      View Details
    • $289,900

      Versatile Commercial Property in Fort Dodge

      Prime location with two buildings and ample secured parking.
      2110 & 2120 4th Ave S, Fort Dodge, IA 50501
      View Details
    • $212,800
      4,899 SF

      Fort Dodge Investment Portfolio

      Five-unit multifamily investment portfolio with strong rental history in Fort Dodge.
      208/210/214/308 N 10th St/South 19th St, Fort Dodge, IA 50501
      View Details
    • $225,000

      High-Visibility Commercial Property in Iowa

      Established office building at a busy Fort Dodge intersection.
      4 N 15th Street, Fort Dodge, IA 50501
      View Details
    • $650,000
      12,438 SF

      Fort Dodge Multifamily Investment

      Ten-unit complex with individual utilities and garage stalls.
      1010-1020 Williams DR., Fort Dodge, IA 50501
      View Details
    • $1,800

      Fort Dodge Commercial Shop Space

      Well-located commercial shop space with office in Fort Dodge, Iowa.
      605 S 22nd St, Fort Dodge, IA 50501
      View Details
    • $1,800

      Fort Dodge Commercial Shop Space

      Well-located commercial shop space with office and waiting area.
      605 S 22nd St, Fort Dodge, IA 50501
      View Details
    • $440,000
      9,063 SF

      Fort Dodge Multifamily Investment

      Ten-unit brick building in Fort Dodge, Iowa, for sale.
      319 N 11th St., Fort Dodge, IA 50501
      View Details
    • $349,500

      Versatile Commercial Building, Fort Dodge

      14,700 SF commercial building suitable for warehousing and distribution.
      131 Central Ave, Fort Dodge, IA 50501
      View Details
    • $295,000

      Fort Dodge Commercial Opportunity

      Large flex space in Fort Dodge, Iowa. Renovation opportunity.
      2827 8th Ave S, Fort Dodge, IA 50501
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully rented income property in Fort Dodge, Iowa.
    Where is this duplex located?
    The property is located at 401 S 15th Street Fort Dodge, IA.
    What is the asking price?
    The asking price for this property is $54,900.
    What are key features of this property?
    This property features: Fully rented income property, offering immediate returns.; Enjoy efficient natural gas forced air heating.; Benefit from convenient garage parking.
    (515) 570-4496
    We can help!
    Listing Contact
    Dave Essing
    Learn More
    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
    401 S 15th Street, Fort Dodge, IA 50501
    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!