416 Michigan, Storm Lake, IA 50588
Buena Vista County
Key Facts
Description
6-Unit Property. Exterior Parking. Great Investment Opportunity. 100% Occupied. This 6-unit complex is a great investment. 2 units are one bedroom, one bathroom, while 4 units are two bedrooms, one bathroom . All units have a living space and kitchen/dining. MarketRent Roll: $4,400. Actual Rent Roll:$4,400 (refer to T12 to see strong history of property). There is a separate shared laundry space that contains a coin-operated washer and dryer. This is located in the basement. This yields approximately $400yr. Tenant pays for: Electric.Owner pays for: Electric for common space $130/mo, Water/Sewer $680, Gas $56/mo, Garbage: $93/month. Taxes: $5,650/year. Lawn/Snow Removal: $140/month. Security deposits will be included upon closing. There is ample exterior parking available for tenants.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1955
Living Area
5,015 sq ft
Lot Size
0.17 acres
Zoning
Res
Days on Market
4
MLS® Listing#
833706
Property Features
Cooling
Heating
Parking
Sewer
Water Source
Financial Details
Annual Taxes
$5,650
Tax year 2024
Parcel Number
1403186015
Affordability Calculator
$52,000
Estimated monthly payment
$1,384/mo
Principal $208,000 · Est. interest $290,179 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Storm Lake, IA
- $384,956
- Median Listing Price
- 65
- Median Days on Market
- 1,840
- Median Sq Ft
- $209
- Median Price / Sq Ft
- 309
- Active Listings
- This home’s price is 32% below the area median.
- Its price per sq ft is 75% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Storm Lake, IA.
Location
Points of Interest in Storm Lake, IA
Showing the Storm Lake area map.
Nearby Schools
Storm Lake Community School District
Elementary · 0.1 mi away
St Mary's School
School · 0.3 mi away
Storm Lake High School
Secondary · 0.7 mi away
Early Childhood School
School · 0.8 mi away
Storm Lake Elementary School
Elementary · 1.3 mi away
Storm Lake Middle School
Secondary · 1.4 mi away
Alta Elementary School
Elementary · 5.4 mi away
Alta Aurelia High School
Secondary · 5.4 mi away
Alta High School
Secondary · 5.5 mi away
Mustangs Child Care Center
School · 10.6 mi away
Newell Fonda Community School
Secondary · 10.7 mi away
Schaller-Crestland Elementary
Elementary · 11.0 mi away
Schaller-Crestland M.S. Ridge View Middle School
Secondary · 12.5 mi away
Alta Aurelia Middle School
Elementary · 12.5 mi away
Galva-Holstein Upper Elementary
Elementary · 14.2 mi away
Albert City-Truesdale Elementary School
Elementary · 16.1 mi away
Sioux Central Community School District
Secondary · 16.3 mi away
East Sac County Elementary Sac Building
Elementary · 18.4 mi away
East Sac County Middle School
Elementary · 18.6 mi away
Bright Beginnings
School · 19.0 mi away
Commute Calculator
Nearby Homes
Moving Cost Estimate
EXIT Agents in Storm Lake
Listing Courtesy: Real Broker, LLC - 5153052577
Presented by: Adam Doughan