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    606 Hooper St Melbourne, IA 50162

    New
    For Sale
    $239,900

    Quadruplex - Melbourne, IA

    Type:Quadruplex
    Property size:
    2,912 SF
    Lot size:
    0.17 Acres
    Days on Market:
    5
    Last Refresh:
    Dec 6 at 4:06 pm

    Property Features for 606 Hooper St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active
    Zoning
    Residential-Multi-Family
    APN
    8219-06-435-004
    Size
    2,912 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1976
    Number of units
    4
    Building materials
    Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    Five Star Real Estate Group (641) 751-6338 [email protected]

    Listing agent Kristin Polley (641) 440-7007 License #***

    Listing date Dec 2, 2025

    MLS# 6334065 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

    Melbourne, Iowa Fourplex For Sale

    Located in Melbourne, Iowa, 606 Hopper Street is a fully occupied fourplex offered for sale. This residential-multi-family property generates over $32,000 in annual income. Each of the four units includes 2 bedrooms and 1 bathroom. The property features newer siding and a newer roof. A coin-operated laundry provides convenience for tenants. Each unit is equipped with a refrigerator and range. The property size is 2912 square feet on a lot of 0.17 acres. This multifamily property is being sold AS-IS.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Hair Salon Auto Repair Shop Wholesale Shop Bar & Pub HVAC Service Electrical Service Convenience Store Garden Center Car Rental Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Marshall
    State
    Iowa
    Longitude
    -93.097029
    Latitude
    41.940223

    Nearby Similar for Sale

    • Contact for pricing
      Pending

      Productive Marshall County Farm

      184.58 acre farm with tillable and pasture land.
      Knapp Ave, Melbourne, IA 50162
      View Details

    FAQs

    What type of property is this?
    Quadplex - Fully occupied fourplex generating over $32,000 annually in Melbourne, Iowa.
    Where is this quadplex located?
    The property is located at 606 Hooper St Melbourne, IA.
    What is the asking price?
    The asking price for this property is $239,900.
    What are key features of this property?
    This property features: - Strong income generation: Produces over $32,000 annually with a 9% CAP rate.; - Fully occupied: Currently 100% occupied, ensuring immediate cash flow.; - Low maintenance: Features newer siding and a newer roof, reducing future expenses.
    (641) 440-7007
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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
    606 Hooper St Melbourne, IA 50162
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