Three-Unit Two-Story Income
For Sale
Under Contract
$169,000
402 W Hempstead Avenue, Fairfield, IA 52556
MULTI_FAMILY - Fairfield, IA
Property Size2,256 SF
Lot Size0.11 Acres
Price / SF$74.91
Days on Market50
Property Features for 402 W Hempstead Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Basement
Unfinished, Full
Subdivision
GAGES
Directions
On Hempstead in between 4th and 5th.
Standard status
Active Under Contract
APN
06-26-431-006
Size
2,256 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GAGES E 35' LT 2 BLK 6
Tax Annual Amount
2126
Legal Description
GAGES E 35' LT 2 BLK 6
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Building materials
Wood Siding
Listing Agency:
Village Realty
(641) 472-9900
Listed By:
Michaela McLain · License #S67278
(641) 451-1595
Added: Jun 24
Changed: Aug 4
Last Checked: Aug 12 at 3:06AM
MLS# 6339662
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.
Investment Insights
Based on property information with market context.
This three-unit two-story property offers classic curb appeal and generous interior space. The home includes hardwood floors, original wood trim, large windows, and a covered front porch. Two upstairs units each feature 1 bedroom and 1 bathroom and are currently occupied. The main-level unit is available to rent or owner-occupy and provides 2 bedrooms with en-suite baths, along with large living and dining areas, plus access to a carport and a shared backyard.
Located at 402 W Hempstead Avenue in Fairfield, Iowa (Jefferson County), the property sits on a compact lot size of 0.11 acres. On-site amenities include a carport and shared outdoor space through the backyard. Each unit’s utilities are separately metered, with billing handled individually.
For investors, the two upstairs apartments provide current occupancy, while the main-level unit offers flexibility for either tenancy or owner occupancy. The separate utility metering may support straightforward unit-by-unit expense tracking. Tenants and owner-occupants can look to the established finishes described in the property, including hardwood floors and original wood trim, along with substantial living and dining areas in the main-level unit.
Located at 402 W Hempstead Avenue in Fairfield, Iowa (Jefferson County), the property sits on a compact lot size of 0.11 acres. On-site amenities include a carport and shared outdoor space through the backyard. Each unit’s utilities are separately metered, with billing handled individually.
For investors, the two upstairs apartments provide current occupancy, while the main-level unit offers flexibility for either tenancy or owner occupancy. The separate utility metering may support straightforward unit-by-unit expense tracking. Tenants and owner-occupants can look to the established finishes described in the property, including hardwood floors and original wood trim, along with substantial living and dining areas in the main-level unit.
Key Highlights
- 3‑unit property built in 1900 with wood siding and forced‑air heating
- Two upstairs 1 bed/1 bath apartments are occupied and rent for $600/month each
- Main‑level unit has 2 bedrooms with en‑suite baths and large living/dining areas
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 52556, IA
11,736
Population
6,141
Households
1.9
Avg Household Size
48
Median Age
46%
College-Educated
97%
High-School Grad
175.5 sq mi
ZIP Area
67
Density / Sq Mi
$55,528
Median Household Income
$31,210
Median Earnings
$877
Median Rent
$168,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit two-story residential income property with covered porch, hardwood floors, and separately metered utilities.
Where is this triplex located?
The property is located at 402 W Hempstead Avenue Fairfield, IA.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 3‑unit property built in 1900 with wood siding and forced‑air heating; Two upstairs 1 bed/1 bath apartments are occupied and rent for $600/month each; Main‑level unit has 2 bedrooms with en‑suite baths and large living/dining areas
