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    515 Main St Iowa Falls, IA 50126

    Sponsored
    For Sale
    $107,000

    MULTI_FAMILY - Iowa Falls, IA

    Property size:
    2,860 SF
    Lot size:
    0.20 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 515 Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    892113288009
    Basement
    Full
    Size
    2,860 SF
    Lot size
    0.20 Acres

    Utilities

    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    1914
    Floors in Building
    2
    Number of units
    3
    Building materials
    Vinyl Siding

    Realty One Group Impact (641) 521-6044

    Listing agent Heather Schachtner (641) 648-4040

    Listing date Jan 1, 2026

    MLS# 6331706 Listing URL

    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.

    Overview

    Iowa Falls Multifamily Investment Property

    This property presents an investment opportunity, featuring three rental units. The first unit is a two-story, two-bedroom, one-bath apartment with hardwood floors and a fireplace. The second unit is a one-bedroom, one-bathroom apartment with a large bay window and hardwood floors. Recent updates to this unit include a new stove, new bathroom flooring, a new toilet, and an updated bathtub. The third unit, located on the second level, is a recently remodeled one-bedroom, one-bath apartment. The basement area has the potential to be converted into a fourth unit, with existing plumbing for a kitchen and a bathroom/shower. It could potentially be converted into a two-bedroom unit. The basement also includes a laundry room for the entire building. The building has a shared driveway with the neighbors through an easement. The property is currently managed by a property manager who is willing to continue managing the property under new ownership. The property is located in Iowa Falls, IA, and the building size is 2860 square feet on a 0.2-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Iowa Falls
    County
    Hardin
    State
    Iowa
    Longitude
    -93.265789
    Latitude
    42.521899

    Nearby Similar for Sale

    • $84,900
      1,664 SF

      Iowa Falls Duplex Investment

      Side-by-side duplex with hardwood floors and separate utilities.
      604 Hickory St, Iowa Falls, IA 50126
      View Details
    • $185,000
      1.40 Acres

      New Light Industrial Building

      Versatile 3,600 SF building perfect for business or storage.
      212 S High St, Iowa Falls, IA 50126
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit property with potential for a fourth unit.
    Where is this triplex located?
    The property is located at 515 Main St Iowa Falls, IA.
    What is the asking price?
    The asking price for this property is $107,000.
    What are key features of this property?
    This property features: - Three rental units provide immediate income potential.; - Basement has potential to be converted into a fourth rental unit (plumbing in place).; - Unit 2 is updated with a new stove, bathroom flooring, toilet, and bathtub.
    (515) 297-3194
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    Realmo Value Estimation

    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.

    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.

    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
    515 Main St Iowa Falls, IA 50126
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