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    Single-Family Home on Acreage Title is generated by Realmo AI

    1374 Nelson Ave., Fort Dodge, IA 50501

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    Picture of Single family properties at 1374 Nelson Ave., Fort Dodge, IA
    For Sale
    $229,900

    LAND - Fort Dodge, IA

    Type:Single Family Residence
    Property size:
    1,720 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $133/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 1:06 pm

    Property Features for 1374 Nelson Ave.

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    Rural/Residntl
    Vegetation
    Wooded
    Interior features
    Hardwood Floors
    Exterior features
    Brick, Gravel Drive, Paved Street, Replacement Windows, Wooded
    Fireplace
    1
    Appliances
    Built-In Gas Oven, Dishwasher, Disposal, Dryer, Gas Range, Range Hood, Refrigerator, Washer, Propane Water Heater
    Standard status
    Active
    Size
    1,720 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Annual Amount
    2076

    Utilities

    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Flooring type
    Carpet
    Roof type
    Asphalt
    Architectural style
    Other, Ranch

    We can help!

    Listing Contact
    Cindy Mulroney

    Listing agent Cindy Mulroney

    Listing office RE/MAX of Fort Dodge, Inc. 1517 1st Avenue S, Fort Dodge, IA

    Listing date Jun 4, 2026

    MLS# 29971 Listing URL

    Copyright © 2026 Fort Dodge Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3‑bedroom ranch with 1.75 baths and 1,720 SF of living space
    • Central air plus forced‑air propane heating and a propane water heater
    • Replacement windows and a newer front door with storm door
    • Fireplace and hardwood floors
    • Culligan reverse osmosis with well water; fiber is up to the house (WCCTA)
    • Exterior includes brick with gravel drive; new roof shingles (2019) plus new gutters, leaf guard, and soffit/fascia

    Overview

    This single-family ranch includes 3 bedrooms and 1.75 baths in approximately 1,720 square feet. The property has replaced windows, a newer front door with storm door, and built-ins in the formal dining room. A Culligan reverse osmosis system serves the home, and kitchen appliances plus the washer and dryer can stay with the property. Exterior improvements include new shingles in 2019, along with new gutters, leaf guard, and soffit/fascia. Fiber is listed as run up to the house by WCCTA, and the home has a newer central air system.

    The home is situated on 1 acre and is accessed via a hard-surface road for a direct drive into Fort Dodge. The public remarks note the property is within seconds of Kennedy Park, and the listed zoning is Rural/Residntl.

    For buyers looking for a rural-residential setting near Fort Dodge, this layout offers a straightforward ranch configuration with several updates already in place, including roofing and exterior trim work completed in 2019. The treed lot and landscaped setting provide an outdoor backdrop while remaining connected to hard-surface road access. With fiber available, the home also supports modern connectivity needs for everyday use.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $25.0k $14.52
    − Vacancy −$1.6k −$0.91
    EGI $23.4k $13.61
    − OpEx −$10.5k −$6.12
    NOI $12.9k $7.48
    1,720 SF · lease $14.52/SF/yr · vacancy 6.30% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $183.9K
    $160.9K – $214.5K (±1% cap)
    NOI $12,871 @ 7.0% cap · market cap 5.60%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $310.0K
    $271.2K – $361.6K (±1% cap)
    NOI $21,697 @ 7.0% cap · market cap 9.44%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Fort Dodge
    County
    Webster
    State
    Iowa
    Longitude
    -94.1780763
    Latitude
    42.5904523

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    FAQs

    What type of property is this?
    Single family property - Ranch home on a treed 1-acre lot on a hard-surface road with fiber available to the house.
    Where is this single family property located?
    The property is located at 1374 Nelson Ave. Fort Dodge, IA.
    What is the asking price?
    The asking price for this property is $229,900.
    What are key features of this property?
    This property features: 3‑bedroom ranch with 1.75 baths and 1,720 SF of living space; Central air plus forced‑air propane heating and a propane water heater; Replacement windows and a newer front door with storm door
    (515) 570-1707
    We can help!
    Listing Contact
    Cindy Mulroney
    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.

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