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    515 Main St Iowa Falls, IA 50126

    For Sale
    $107,000

    Triplex - Iowa Falls, IA

    Type:Triplex
    Property size:
    2,860 SF
    Lot size:
    0.20 Acres
    Days on Market:
    96
    Last Refresh:
    Dec 14 at 2:06 pm

    Property Features for 515 Main St

    General Information

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

    Building Details

    Year built
    1914
    Number of units
    3
    Building materials
    Vinyl Siding
    Architectural style
    Other

    Realty One Group Impact (641) 521-6044

    Listing agent Heather Schachtner (641) 648-4040 License #***

    Listing date Sep 10, 2025

    MLS# 6331706 Listing URL

    Copyright © 2025 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 Triplex Investment Opportunity

    This property presents an investment opportunity with three rental units. The first unit is a two-story, two-bedroom, one-bath apartment featuring 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 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. This potential unit could be configured as a two-bedroom apartment. The basement also includes a laundry room for the entire building. The property includes a shared driveway with the neighbors through an easement. The building is located in Iowa Falls, IA. The property contains 2860 square feet and sits on a 0.2-acre lot.
    Property Profile 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

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      New Industrial Building For Sale

      3,600 sqft industrial building perfect for business or storage.
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    • $95,000
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      Iowa Falls Commercial Property For Sale

      Highly visible commercial property ideal for retail, automotive, or redevelopment.
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    FAQs

    What type of property is this?
    Triplex - Triplex with three units and potential for a fourth.
    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.; - Property manager is willing to stay on.
    (641) 648-4040
    Request Owner's contact information
    515 Main St Iowa Falls, IA 50126
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    Iowa Falls, IA 50126
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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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