Listing Agency: Lepic-Kroeger, REALTORS

Listed By: Sarah Bigley · License #IA S62143

Source: Crexi

Added: Apr 11 Changed: Aug 31 Last Checked: Aug 31 at 2:44AM

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Investment Insights

Based on property information with market context.

This multifamily property includes a four-bedroom farmhouse with one non-conforming bedroom and 2½ bathrooms, plus a three-bedroom, two-bathroom mobile home. The farmhouse offers a generous living room, formal dining room, high ceilings, hardwood floors, updated windows, a large kitchen with pantry, main-floor laundry, an attached 2-car garage, front porch, and rear 3-season porch. The upper level includes a full bathroom and walk-up attic storage. The mobile home has a 2-car attached garage, wood-burning fireplace, whirlpool bathtub, and poured concrete partial basement; it is rented through October.

Set on 3 acres, the property includes a large barn with a metal roof and upper-level haymow, along with a partially finished, insulated, heated outbuilding suitable for shop use. The residences share well water but have separate septic systems, LP tanks, electric meters, and driveways. Additional site features include a garden area, fruit trees, and mature trees and plantings. The property is 1/4 mile from Mid-Prairie busing.

Key Highlights

• Two residences on 3 acres: a 4‑bedroom farmhouse and a 3‑bedroom mobile home
• Farmhouse includes 2½ bathrooms, attached 2‑car garage, hardwood floors, and walk‑up attic storage
• Mobile home features 2 bathrooms, a 2‑car attached garage, fireplace, whirlpool bathtub, and partial basement

Property Analytics

Property Profile

Current Use

Multifamily properties

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

Explore this area Business Placement

Demographics for 52356, IA

2,833

Population

1,228

Households

2.3

Avg Household Size

39

Median Age

19%

College-Educated

94%

High-School Grad

95.0 sq mi

ZIP Area

30

Density / Sq Mi

$54,659

Median Household Income

$41,366

Median Earnings

$844

Median Rent

$205,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two residences share a three-acre setting with separate utilities, driveways, and private septic systems.

Where is this multifamily property located?

The property is located at 1628 & 1650 Dogwood Ave Wellman, IA.

What are key features of this property?

This property features: Two residences on 3 acres: a 4‑bedroom farmhouse and a 3‑bedroom mobile home; Farmhouse includes 2½ bathrooms, attached 2‑car garage, hardwood floors, and walk‑up attic storage; Mobile home features 2 bathrooms, a 2‑car attached garage, fireplace, whirlpool bathtub, and partial basement