Residential Income
For Sale
$164,900
426 N 27th St, Fort Dodge, IA 50501
The property is near school campuses and uptown shopping areas.
Property Size1,976 SF
Price / SF$83.45
Days on Market10
Property Features for 426 N 27th St
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,847
Listing Agency:
Coldwell Banker Associated Realtors
(515) 955-7000
Listed By:
Troy Anderson
(515) 955-7644
Source:
Exprealty
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 3:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Associated Realtors
Investment Insights
Based on property information with market context.
Located at 426 N 27th St in Fort Dodge, this residential income property is close to high school and middle school campuses, with uptown shopping areas nearby.
Key Highlights
- Near a high school, middle school, and uptown shopping areas
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
$14,786
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
8.97%
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%
$295,720
$295.7K
Cap Rate 7%
$211,229
$211.2K
Cap Rate 9%
$164,289
$164.3K
Market Conditions
NOI Build-Up for 1,976 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
$28.7K $14.52/SF
− Vacancy
−$1.8K −$0.91/SF
EGI
$26.9K $13.61/SF
− OpEx
−$12.1K −$6.12/SF
NOI
$14.8K $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%
$295,720
Cap Rate 7%
$211,229
Cap Rate 9%
$164,289
Alternative Uses
Best Use
Apartment 5plus
$211.2K
$184.8K – $246.4K
NOI $14,786 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.1K
$311.6K – $415.4K
NOI $24,926 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
634
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The property is near school campuses and uptown shopping areas.
Where is this residential income property located?
The property is located at 426 N 27th St Fort Dodge, IA.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Near a high school, middle school, and uptown shopping areas
