Residential Income
For Sale
$289,900
1018 N 3rd Avenue, Winterset, IA 50273
Residential, Condominium, Townhouse, Duplex, Winterset, IA
Property Size1,426 SF
Lot Size0.18 Acres
Price / SF$203.30
Days on Market48
Property Features for 1018 N 3rd Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Dining Room, Bedroom 2, Bathroom 2, Bedroom 1
Parking features
Garage
Patio and Porch features
Patio
Interior features
DiningArea
Exterior features
Patio
Fireplace
1
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
Lot features
Cul De Sac
Elementary school district
Winterset
Middle school district
Winterset
High school district
Winterset
Directions
End of the road on N. 3rd Ave when driving North.
Subdivision
Winterset
Standard status
Active
APN
820004900231000
Size
1,426 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
LOT H OF LOT 9 CIRCLE HEIGHTS PLAT 3 PHASE 3
Tax Annual Amount
5200
Legal Description
LOT H OF LOT 9 CIRCLE HEIGHTS PLAT 3 PHASE 3
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
wood floors
vaulted ceilings
gas fireplace
walk-in closet
ensuite bathroom
yard
back patio
Building Details
Year built
2007
Flooring type
Hardwood, Carpet
Building materials
VinylSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
HomeCoin.com
Listed By:
Amy Jones
(888) 400-2513
Added: Sep 4
Changed: Oct 1
Last Checked: Oct 21 at 11:06PM
MLS# 748684
Copyright © 2026 Des Moines Area Association 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.
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Investment Insights
Based on property information with market context.
This 1,426-square-foot townhome, built in 2007, has two bedrooms and two bathrooms. The main level includes living and dining areas, a kitchen, and a primary bedroom with a walk-in closet and private bathroom. Vaulted ceilings, hardwood flooring, and a gas fireplace add detail to the living space. The basement is insulated and partially framed, and the home also includes a garage, yard, and patio.
Located at 1018 N 3rd Avenue in Winterset, the property sits at the end of a cul-de-sac. Public water and sewer serve the home. Central air and forced-air natural gas provide cooling and heat.
Located at 1018 N 3rd Avenue in Winterset, the property sits at the end of a cul-de-sac. Public water and sewer serve the home. Central air and forced-air natural gas provide cooling and heat.
Key Highlights
- 1,426 square feet with two bedrooms and two bathrooms
- Basement is insulated and partially framed
- Primary bedroom has a walk‑in closet and private bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,969
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,380
$239.4K
Cap Rate 7%
$170,986
$171.0K
Cap Rate 9%
$132,989
$133.0K
Market Conditions
NOI Build-Up for 1,426 SF
Gross rent
$23.1K $16.20/SF
− Vacancy
−$1.3K −$0.94/SF
EGI
$21.8K $15.26/SF
− OpEx
−$9.8K −$6.87/SF
NOI
$12.0K $8.39/SF
Area
Madison County, IA
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,380
Cap Rate 7%
$170,986
Cap Rate 9%
$132,989
Alternative Uses
Best Use
Apartment 5plus
$171.0K
$149.6K – $199.5K
NOI $11,969 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.37M
$1.20M – $1.60M
NOI $96,090 @ 7.0% cap · market cap 33.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 50273, IA
8,570
Population
3,927
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
96%
High-School Grad
195.2 sq mi
ZIP Area
44
Density / Sq Mi
$80,018
Median Household Income
$48,149
Median Earnings
$948
Median Rent
$216,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom layout combines main-level living areas with an insulated, partially framed basement and a rear patio.
Where is this residential income property located?
The property is located at 1018 N 3rd Avenue Winterset, IA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,426 square feet with two bedrooms and two bathrooms; Basement is insulated and partially framed; Primary bedroom has a walk‑in closet and private bathroom
