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    Skunk River Recreational Property Title is generated by Realmo AI

    1 Old Highway 34, Mt Pleasant, IA 52641

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    Vacant Land - Mt. Pleasant, IA

    Lot size:
    59.00 Acres
    Added:
    May 18, 2026
    Days on Market:
    18
    Last Refresh:
    Jun 4 at 8:06 am

    Property Features for 1 Old Highway 34

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    300
    Parking features
    Garage
    Standard status
    Active
    APN
    040380000, 070377990, 070900000
    Lot size
    59.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Chris Richard

    Listing agent Chris Richard

    Listing office Steffes Group, Inc. 2000 Main Ave E, West Fargo, IA

    Listing date May 18, 2026

    MLS# 11777168 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong CRP annual income: $7,476 (Tract 1) + $1,887 (Tract 2).
    • Recreational property bordering the Skunk River.
    • Two tracts available: 41± acres (Tract 1) and 18± acres (Tract 2), pending final survey.
    • Cropland acres enrolled in CRP with contracts expiring in 2032 and 2033.
    • Located near Mt. Pleasant, Iowa.
    • Timed online auction ending June 10, 2026.

    Overview

    This recreational property near Mt. Pleasant, Iowa, offers potential for hunting and income generation. The property will be offered in two tracts via timed online auction, with bidding ending June 10, 2026. Tract 1 comprises approximately 41 acres, pending final survey. According to FSA data, it includes 34.49 cropland acres, all enrolled in CRP, generating an annual income of $7,476. Specifically, 27.09 acres yield $5,824.00 at $215.00 per acre, expiring on 9-30-2033, and 7.40 acres yield $1,652.00 at $223.27 per acre, expiring on 9-30-2032. The CSR2 rating for the cropland acres is 49.4. The balance of Tract 1 consists of timber and borders the Skunk River. Tract 1 is located in Sections 34, Trenton Township, and Section 3, Tippecanoe Township, Henry County, Iowa, with tax parcels 040380000 and Part 070377990, having approximate net taxes of $911.00. Tract 2 consists of approximately 18 acres, pending final survey. FSA data indicates 8.52 cropland acres, all in CRP, producing an annual income of $1,887. 6.02 acres yield $1,329.00 at $220.72 per acre, and 2.50 acres yield $558.00 at $223.27 per acre, both expiring on 9-30-2032. The CSR2 rating for the cropland acres is 48.2. The remaining area of Tract 2 is timbered and borders the Skunk River. Tract 2 is located in Section 3, Tippecanoe Township, Henry County, Iowa, with tax parcels 070900000 and Part 070377990, having approximate net taxes of $215.00.
    Property Profile Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Kitchen & Bath Showroom Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Mt Pleasant
    County
    State
    Iowa
    Longitude
    -91.653813
    Latitude
    40.99023

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Recreational land with CRP income near Mt. Pleasant, Iowa.
    Where is this agricultural land / farmland located?
    The property is located at 1 Old Highway 34 Mt Pleasant, IA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Strong CRP annual income: $7,476 (Tract 1) + $1,887 (Tract 2).; Recreational property bordering the Skunk River.; Two tracts available: 41± acres (Tract 1) and 18± acres (Tract 2), pending final survey.
    (319) 385-2000
    We can help!
    Listing Contact
    Chris Richard
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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.

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