Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    913 Garfield Ave Ames, IA 50014

    View on Map
    Sponsored
    For Sale
    $570,000

    Duplex - Ames, IA

    Type:Duplex
    Days on Market:
    3
    Last Refresh:
    Mar 27 at 1:06 pm

    Property Features for 913 Garfield Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Zoning
    R
    Parking features
    Garage, Garage - Attached

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1968
    Flooring type
    Carpet, Laminate
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Laaser-Webb Team

    RE/MAX REAL ESTATE CENTER

    Listing agent Laaser-Webb Team License #S60241

    Listing date Mar 25, 2026

    MLS# 69710 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

    Two Duplexes on One Parcel

    Two duplexes, situated side by side on a single parcel, are being offered for sale as a combined purchase. These properties are professionally managed and maintained, with a history of strong rental performance and several long-term tenants. Each unit features an attached one-car garage, in-unit laundry facilities, two bedrooms, and one bathroom. Two of the units include screened porches, while the other two have covered patios. All four units have current LOCs until 4/29. The properties are located in Ames, Iowa.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6702687
    Latitude
    42.0306886

    Nearby Similar for Sale

    • $450,000
      6,000 SF

      Ames Commercial Property with Restaurant

      Turnkey restaurant, bar, and event venue on 1.14 acres.
      6008 W Lincoln Way, Ames, IA 50014
      View Details
    • $495,000
      2,000 SF

      Sophisticated Office Space in Ames

      Award-winning 2,000 SF office space with premium finishes and parking.
      612 5Th St, Ames, IA 50010
      View Details
    • New
      $330,000

      Ames Duplex Investment Opportunity

      Turnkey duplex with recent updates and strong rental potential.
      1312/1314 Wilson Ave, Ames, IA 50010
      View Details
    • $325,000
      0.20 Acres

      Ames Duplex with Assumable Mortgage

      Well-maintained duplex in Ames, IA with assumable 2.875% mortgage.
      615-617 Ken Maril Rd, Ames, IA 50010
      View Details
    • New
      $330,000
      1,632 SF

      Turnkey Duplex Investment Opportunity

      Well-maintained duplex with recent updates and strong rental potential.
      1312/1314 Wilson Ave, Ames, IA 50010
      View Details
    • New
      $579,500

      Ames Duplex Investment Opportunity

      Well-maintained duplex near Iowa State University, featuring four rental units.
      3902/3912 Ontario St, Ames, IA 50014
      View Details
    • $3,400,000
      32,400 SF

      Ames Flex Building Opportunity

      Versatile 32,400 SF flex building in a prime location.
      2826 Hyatt Cir, Ames, IA 50010
      View Details
    • $3,950,000
      11.67 Acres

      Commercial Greenhouse in Central Iowa

      Operating greenhouse on 11.67 acres near Ames, Iowa.
      22085 580Th Ave, Ames, IA 50010
      View Details
    • $1,085,000

      Ames Eight-Plex Investment Opportunity

      Turnkey eight-plex in Ames with strong rental history.
      215 Jewel Dr, Ames, IA 50010
      View Details
    • $1,050,000
      0.30 Acres

      Ames Duplex with Garage

      Duplex in Ames, Iowa with garage and shared patio.
      4716 Hutchison St, Ames, IA 50014
      View Details
    • $1,050,000

      Ames Iowa Quadruplex For Sale

      Three adjacent multifamily properties available in Ames, Iowa.
      4713 Ontario St, Ames, IA 50014
      View Details
    • $1,050,000

      Ames Multifamily Investment Opportunity

      Three properties totaling 10 units in Ames, Iowa.
      1307 Florida Ave, Ames, IA 50014
      View Details

    FAQs

    What type of property is this?
    Duplex - Two well-maintained duplexes with strong rental history in Ames, Iowa.
    Where is this duplex located?
    The property is located at 913 Garfield Ave Ames, IA.
    What is the asking price?
    The asking price for this property is $570,000.
    What are key features of this property?
    This property features: - Strong rental history with long-term tenants.; - Two duplexes on one parcel, sold together.; - Professionally managed and well maintained.
    (515) 451-9256
    Request Owner's contact information
    913 Garfield Ave Ames, IA 50014
    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.
    913 Garfield Ave
    Ames, IA 50014
    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
    913 Garfield Ave Ames, IA 50014
    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

    We can help!
    Listing Contact
    Laaser-Webb Team
    Real Estate License ID: S60241
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!