Ranch Duplex with
New
For Sale
$550,000
603 202nd Street, Milford, IA 51351
DUPLEX - Ranch - Milford, IA
Property Size2,988 SF
Lot Size0.23 Acres
Price / SF$184.07
Days on Market4
Property Features for 603 202nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 2
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Kitchen Center Island, Main Floor Bedrooms, Main Floor Laundry, Pantry, Walk-in Closet
Exterior features
Deck
Appliances
Dishwasher, Disposal, Microwave, Range/Stove, Refrigerator
Elementary school district
Okoboji
Middle school district
Okoboji
High school district
Okoboji
Directions
From Hwy 71, turn East at the Taco House corner. Home is on the first road to the South after the bike trail.
Subdivision
Dickinson
Standard status
Active
APN
07-31-252-025
Size
2,988 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 1 EXC W'LY IRREG TRT & EXC E'LY IRREG TRT AKA PAR "B" NATURE TRAILS, MILFORD, DCI. (Exact legal per Abstract.)
Tax Annual Amount
5694
Legal Description
LOT 1 EXC W'LY IRREG TRT & EXC E'LY IRREG TRT AKA PAR "B" NATURE TRAILS, MILFORD, DCI. (Exact legal per Abstract.)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
covered deck
association swimming pool
Building Details
Year built
2007
Floors in Building
2
Building materials
Cement Siding
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
Stauss Realty
(712) 332-2470
Listed By:
Mark Leiss
(712) 330-2045
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 3 at 12:06AM
MLS# 260906
Copyright © 2026 Iowa Great Lakes 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.
Ranch duplex constructed in 2007 on a 0.2348-acre lot with 2,988 square feet of space. The home features a main floor master suite, bright interior living areas on both levels, and multiple bedrooms and bathrooms arranged for flexible use. Interior appointments include ceiling fans, a kitchen center island, main floor laundry, pantry, and walk-in closet.
The property includes a deck and is served by public water and public sewer. Forced-air heating and central air conditioning support year-round comfort, with an asphalt shingle roof and cement siding exterior.
The setting is described as directly on a large wetland, and the home is also close to an access point for the trail system. Public remarks note proximity to Emerald Hills Golf Course and that Arnolds Park amenities are within a short walk or drive, with an association swimming pool available for residents.
The property includes a deck and is served by public water and public sewer. Forced-air heating and central air conditioning support year-round comfort, with an asphalt shingle roof and cement siding exterior.
The setting is described as directly on a large wetland, and the home is also close to an access point for the trail system. Public remarks note proximity to Emerald Hills Golf Course and that Arnolds Park amenities are within a short walk or drive, with an association swimming pool available for residents.
Key Highlights
- 2,988 SF ranch duplex built in 2007 on a 0.2348‑acre lot
- Main floor master suite plus living areas on both levels
- Deck plus association swimming pool access
Financial Insights For Multifamily LT 5
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 | $40.5k | $13.56 |
| − Vacancy | −$3.1k | −$1.03 |
| EGI | $37.4k | $12.53 |
| − OpEx | −$11.2k | −$3.76 |
| NOI | $26.2k | $8.77 |
2,988 SF · lease $13.56/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$374.4K
$327.6K – $436.8K
NOI $26,207 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.2K
NOI $24,130 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$653.6K
$571.9K – $762.5K
NOI $45,752 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 51351, IA
4,844
Population
3,104
Households
1.6
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
108.0 sq mi
ZIP Area
45
Density / Sq Mi
$67,628
Median Household Income
$39,913
Median Earnings
$904
Median Rent
$256,100
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?
Duplex - Ranch duplex built in 2007 with central air, forced-air heat, and a deck plus an association swimming pool.
Where is this duplex located?
The property is located at 603 202nd Street Milford, IA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,988 SF ranch duplex built in 2007 on a 0.2348‑acre lot; Main floor master suite plus living areas on both levels; Deck plus association swimming pool access
