Residential Acreage with Ranch
For Sale
$219,000
1374 Nelson Ave., Fort Dodge, IA 50501
Land, Acreage, Ranch, Fort Dodge, IA
Property Size1,720 SF
Lot Size1.00 Acre
Price / SF$127.33
Days on Market93
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
Elementary school district
Fort Dodge
Middle school district
Fort Dodge
High school district
Fort Dodge
Subdivision
Webster
Standard status
Active
Size
1,720 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Annual Amount
2076
Utilities
Heating system
Forced Air, Propane (Heating)
Cooling system
Central Air
Water source
Well
Building Details
Flooring type
Carpet
Roof type
Asphalt
Architectural style
Other, Ranch
Listing Agency:
RE/MAX of Fort Dodge, Inc. · RE/MAX International
(515) 955-3828
Listed By:
Cindy Mulroney · License #S32050000
(515) 570-1707
Added: Jun 4
Changed: Sep 3
Last Checked: Sep 4 at 2:06PM
MLS# 29971
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.
Investment Insights
Based on property information with market context.
Offered for sale at 1374 Nelson Ave., this 1-acre residential acreage includes a 3-bedroom ranch home with 1.75 baths and approximately 1,720 square feet. Recent updates noted in the home include replaced windows, a newer front door with storm door, and Culligan reverse osmosis. The formal dining room includes built-in features, and the kitchen appliances and washer/dryer are described as able to stay. Fiber is listed as run up to the house.
Additional exterior improvements include new shingles in 2019, along with new gutters, leaf guard, and soffit/fascia. The lot is described as treed with nice landscaping, offering a mix of established greenery and usable outdoor space.
This offering combines acreage living with an established ranch layout and multiple documented replacements, updates, and mechanical/utility enhancements.
Additional exterior improvements include new shingles in 2019, along with new gutters, leaf guard, and soffit/fascia. The lot is described as treed with nice landscaping, offering a mix of established greenery and usable outdoor space.
This offering combines acreage living with an established ranch layout and multiple documented replacements, updates, and mechanical/utility enhancements.
Key Highlights
- Ranch home with 3 bedrooms and 1.75 baths in 1,720 SF
- Central air plus forced‑air propane heating
- Hardwood floors and carpet flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,871
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$257,420
$257.4K
Cap Rate 7%
$183,871
$183.9K
Cap Rate 9%
$143,011
$143.0K
Market Conditions
NOI Build-Up for 1,720 SF
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.
Gross rent
$25.0K $14.52/SF
− Vacancy
−$1.6K −$0.91/SF
EGI
$23.4K $13.61/SF
− OpEx
−$10.5K −$6.12/SF
NOI
$12.9K $7.48/SF
Area
Webster County, IA
Vacancy
6.30%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$257,420
Cap Rate 7%
$183,871
Cap Rate 9%
$143,011
Alternative Uses
Best Use
Apartment 5plus
$183.9K
$160.9K – $214.5K
NOI $12,871 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.0K
$271.2K – $361.6K
NOI $21,697 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 50501, IA
28,492
Population
13,198
Households
2.2
Avg Household Size
39
Median Age
20%
College-Educated
92%
High-School Grad
152.2 sq mi
ZIP Area
187
Density / Sq Mi
$66,130
Median Household Income
$36,934
Median Earnings
$779
Median Rent
$139,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - 1-acre property with a 3-bedroom, 1.75-bath ranch home and updated exterior improvements.
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 $219,000.
What are key features of this property?
This property features: Ranch home with 3 bedrooms and 1.75 baths in 1,720 SF; Central air plus forced‑air propane heating; Hardwood floors and carpet flooring
