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    Multi-Family Building with Renovation Potential Title is generated by Realmo AI

    107 N 2Nd, Vincent, IA 50594

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    For Sale
    $50,000

    MULTI_FAMILY - Vincent, IA

    Property size:
    2,056 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $24/SF
    Added:
    Feb 4, 2026
    Days on Market:
    120
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 107 N 2Nd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    0422411015
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    EG VINCENT INC ORIGINAL TOWN BLK 12 N 81' LOTS 5-6
    Tax Annual Amount
    440

    Utilities

    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    1
    Building materials
    Brick, Vinyl Siding

    We can help!

    Listing Contact
    Todd Swalin

    Listing agent Todd Swalin

    Listing office One Stop Realty IA

    Listing date Feb 4, 2026

    MLS# 6335387

    Copyright © 2026 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.

    HighLights

    • ~2,056 sq. ft. interior space with open layout for customization
    • Year built 1900 with brick and vinyl siding construction
    • Some recent updates: newer steel roof on lower section and new vinyl siding
    • Upper roof has foam with coating roof material
    • Basement can be divided into multiple smaller rooms
    • Corner lot with 8,276 sq. ft. lot and large lawn for outdoor use

    Overview

    This early-1900s multi-family building offers approximately 2,056 sq. ft. of open interior space that can be customized for a future layout. Some exterior work has already been completed, including a newer steel roof on the lower section and new vinyl siding. The upper roof is described as foam with a coating roof material. Inside, the basement can be divided into multiple smaller rooms, providing flexibility for additional utility or living space. The property is ready for a new owner, but it does require extensive renovation to reach its full potential.

    Located at 107 N 2nd in Vincent, Iowa, the property sits on a corner lot with a 0.19-acre size, featuring a large lawn and outdoor area. The corner setting provides extra open space for gatherings, gardens, or possible expansion, depending on a buyer’s plans and permitting.

    For investors or owner-occupants looking for a project with room to reimagine the interior, this building can fit a range of residential concepts once the renovation is complete. The combination of already-completed exterior improvements and an adaptable interior configuration makes it a practical candidate for buyers with the vision to convert and optimize the space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Big Box & Wholesale Store Spa & Massage Center Hair Salon Nail Salon (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Vincent
    County
    Webster
    State
    Iowa
    Longitude
    -94.018868
    Latitude
    42.592588

    FAQs

    What type of property is this?
    Church & religious facility - Early-1900s Vincent building with open interior, updated exterior materials, and a corner lot—ideal for buyers ready to renovate.
    Where is this church & religious facility located?
    The property is located at 107 N 2Nd Vincent, IA.
    What is the asking price?
    The asking price for this property is $50,000.
    What are key features of this property?
    This property features: ~2,056 sq. ft. interior space with open layout for customization; Year built 1900 with brick and vinyl siding construction; Some recent updates: newer steel roof on lower section and new vinyl siding
    (515) 689-8987
    We can help!
    Listing Contact
    Todd Swalin
    Request Owner's contact information
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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
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