403 S 4Th Avenue E, Lake Mills, IA 50450
LM SUBDIV E 7 AC SE SW 2-99-23 · Winnebago County
Key Facts
Description
Whether you're looking to expand your investment portfolio or purchase your first income-producing property, this triplex offers an excellent opportunity! With tenants already in place, this property provides immediate rental income from day one. The building features three units, including two main-level apartments—an efficiency unit and a one-bedroom unit—and a spacious two-bedroom apartment on the upper level. A new boiler installed in 2025 adds peace of mind for future ownership. Situated on a generous 0.48-acre lot, tenants can enjoy plenty of outdoor space, and the detached double garage offers additional storage or the potential for future rental income, as it has not previously been utilized by tenants. All utilities are currently included in the rent, making this a turnkey investment with room for future value-add opportunities. Don't miss your chance to start—or grow—your real estate portfolio with this solid income-producing property!
Property Information
Property Type
Residential Income
Sub-Type
Triplex
Year Built
1890
Stories
1
Living Area
1,811 sq ft
Lot Size
0.48 acres
Lot Dimensions
82.28 x 255.73 Lot Area 0.48 Acres; 21,041 SF
Garage Spaces
2
Days on Market
2
MLS® Listing#
6340028
Property Features
Heating
Construction
Sewer
Water Source
Financial Details
Annual Taxes
$1,782
Tax year 2024
Parcel Number
0802385032
Directions
NE of front entrance of school
Affordability Calculator
$21,980
Estimated monthly payment
$585/mo
Principal $87,920 · Est. interest $122,656 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lake Mills, IA
- $380,702
- Median Listing Price
- 70
- Median Days on Market
- 1,847
- Median Sq Ft
- $213
- Median Price / Sq Ft
- 312
- Active Listings
- This home’s price is 71% below the area median.
- Its price per sq ft is 72% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lake Mills, IA.
Location
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Points of Interest in Lake Mills, IA
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Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 888 630th Street #7, Storm Lake, IA | $79,800 | — | — | 1,400 |
| Lot 6 Nash Court, Clear Lake, IA | $80,000 | — | — | — |
| 809 N 9th St, CLEAR LAKE, IA | $80,000 | — | — | — |
| 307 S Woodlawn Avenue, Lake City, IA | $85,000 | 3 | 1 | 1,204 |
| 19 Avenue AE, Lake Park, IA | $88,000 | 4 | 2 | 1,988 |
| 2408 25th Street 60, Spirit Lake, IA | $89,000 | 3 | 1 | 1,120 |
Moving Cost Estimate
EXIT Agents in Lake Mills
Listing Courtesy: Realty ONE Group Black Diamond - 6415922665
Presented by: Marisa Koppen