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    586 I Ave Pilot Mound, IA 50223

    Sponsored
    For Sale
    $595,000

    Farm - Pilot Mound, IA

    Type:Farm
    Property size:
    2,781 SF
    Lot size:
    14.10 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 24 at 2:06 am

    Property Features for 586 I Ave

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    2
    APN
    088527333400003
    Parking features
    Garage, Garage - Attached
    Interior features
    Water Softner-owned, Ceiling Fan(s), Window Treatment(s)
    Exterior features
    Window Treatment(s), Fence, Swimming Pool, Barn(s), Grain Bin(s), Machine Shed
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Size
    2,781 SF
    Lot size
    14.10 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Fireplace(s), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Flooring type
    Carpet, Hardwood, Vinyl
    Building materials
    Wood Siding
    Architectural style
    Other
    Additional Structures
    Barn(s), Grain Storage, Packing Shed, Shed(s)

    We can help!

    Listing Contact
    Amanda Nichols
    Amanda Nichols

    iHome Realty (515) 432-2353

    Listing agent Amanda Nichols (515) 432-2353 License #B64375

    Listing date Jan 23, 2026

    MLS# 69112 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.

    Learn more

    Property Insight Report

    Overview

    Victorian Farmhouse on Iowa Countryside

    This 14.1-acre property in the Iowa countryside features timber, tillable ground, and a renovated Victorian-era farmhouse. The property is set up for livestock and horses, suitable for grazing, riding, and rural living. The three-story home offers 2,781 square feet of renovated space. The main floor includes a primary suite with a walk-in closet and remodeled bathroom featuring a walk-in shower and clawfoot soaking tub. The main level also has laundry, an updated kitchen with new cabinets, countertops, flooring, and a farmhouse sink, plus two living areas, one with a wood-burning fireplace, vaulted ceilings, and French doors to a concrete courtyard. Upstairs, three oversized bedrooms include walk-in closets and views of the acreage. A second bathroom and a finished third-floor bonus space with skylights complete the upper levels. Outside, there is a large barn with two lofts, a detached two-car garage/workshop with a loft, a machine shed with concrete flooring, and a new pole building. The oversized 2.5-stall attached garage connects to a mudroom and walk-in pantry. The garden is surrounded by fruit trees and perennial blooms. The property is served by Xenia Rural Water, and includes two working wells for outdoor watering and livestock, with an automatic livestock waterer. Fencing, open pasture, and wooded areas make this property suitable for horse owners and outdoor enthusiasts. It is located less than a mile off pavement in Boone County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Pilot Mound
    County
    Boone
    State
    Iowa
    Longitude
    -94.0033285
    Latitude
    42.1248181

    FAQs

    What type of property is this?
    Farm - Charming, renovated 3-story farmhouse on 14.1 acres in Iowa.
    Where is this farm located?
    The property is located at 586 I Ave Pilot Mound, IA.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: - 14.1 (+/-) acres of Iowa countryside with timber, tillable ground, and setup for livestock/horses.; - Beautifully preserved, renovated **2,780 sq ft Victorian-era farmhouse with 3 stories.**; - Multiple outbuildings: large barn with lofts, detached garage/workshop with loft, machine shed with concrete flooring, and a new pole building.
    (515) 212-1705
    Request Owner's contact information
    586 I Ave Pilot Mound, IA 50223
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    Pilot Mound, IA 50223
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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
    586 I Ave Pilot Mound, IA 50223
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    We can help!
    Listing Contact
    Amanda Nichols
    Amanda Nichols
    Real Estate License ID: B64375
    (515) 212-1705
    Learn more
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