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.
For sale
$260,000
416 Michigan St, Storm Lake, IA 50588
10beds
5,015sqft
Multi Family
Built in 1955
-- sqft lot
$248,600 Zestimate®
$52/sqft
$1/mo HOA
What's special
- 39 days |
- 383 |
- 17 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Adam Doughan 712-441-6097,
Real Broker, LLC
Source: Northwest Iowa Regional BOR,MLS#: 833706
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 6
- Full bathrooms: 6
Heating
- Baseboard
Cooling
- Window Unit(s)
Interior area
- Total structure area: 5,015
- Total interior livable area: 5,015 sqft
- Finished area above ground: 1
- Finished area below ground: 1,121
Property
Parking
- Total spaces: 6
- Parking features: Concrete
Lot
- Size: 7,405 Square Feet
Details
- Parcel number: 1403186015
- Zoning: Res
- Zoning description: Res
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 1955
Utilities & green energy
- Sewer: Public Sewer
- Water: City
Community & HOA
HOA
- Has HOA: Yes
- HOA fee: Has HOA fee
Location
- Region: Storm Lake
Financial & listing details
- Price per square foot: $52/sqft
- Annual tax amount: $5,650
- Price range: $260K - $260K
- Date on market: 7/7/2026
- Total actual rent: 4400
- Tenant pays: Electricity
Estimated market value
$248,600
$236,000 - $261,000
$1,138/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/7/2026 | Listed for sale | $260,000-8.8%$52/sqft |
Source:  Northwest Iowa Regional BOR #833706 Report a problem | ||
| 6/26/2026 | Listing removed | $285,000$57/sqft |
Source: Northwest Iowa Regional BOR #830407 Report a problem | ||
| 4/22/2026 | Price change | $285,000-4.7%$57/sqft |
Source: Northwest Iowa Regional BOR #830407 Report a problem | ||
| 3/3/2026 | Price change | $299,000-9.1%$60/sqft |
Source: Northwest Iowa Regional BOR #830407 Report a problem | ||
| 12/9/2025 | Listed for sale | $329,000$66/sqft |
Source: Northwest Iowa Regional BOR #830407 Report a problem | ||
| 10/22/2025 | Listing removed | $329,000$66/sqft |
Source: Northwest Iowa Regional BOR #830407 Report a problem | ||
| 9/23/2025 | Listed for sale | $329,000-6%$66/sqft |
Source: Northwest Iowa Regional BOR #830407 Report a problem | ||
| 7/16/2025 | Listing removed | -- |
Source: Owner Report a problem | ||
| 1/16/2025 | Listed for sale | $350,000$70/sqft |
Source: Owner Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 50588
Nearby schools
GreatSchools rating
- 2/10Storm Lake Elementary SchoolGrades: 2-5Distance: 1.3 mi
- 3/10Storm Lake Middle SchoolGrades: 6-8Distance: 1.4 mi
- 2/10Storm Lake High SchoolGrades: 9-12Distance: 0.7 mi
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- $6001 bd1 ba-- sqft416 Michigan St #1, Storm Lake, IA 50588For Rent
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A local agent can set up tours, give advice and negotiate with sellers.
