About This Home

This 12-bedroom, 8-bathroom residential multi family at 1806 Main Street in Gowrie, IA is listed for $499,900 ($54 per sqft). the home offers 9,214 sqft of living space on a 1.14 acres lot.

Key Features

  • 1.14 acre lot
  • 17 parking spaces

Property Details

17 spaces

Amenities

A/C
Listing Description

Huge new improvements happening now!! Quiet Cove: Well-maintained 11-unit multifamily in Fort Dodge, IA-10 one-bedroom + 1 two-bedroom units in excellent condition. 10 units leased (90.9% occupancy) generating steady income; 11th under remodel (new flooring) for quick market-rate re-rental-immediate upside.

On >1 acre with: 1814 storage/conference room, community room w/ kitchen & bath (potential 12th unit conversion, subj. to approvals), on-site laundry (2W/2D), 17 dedicated parking spots. Low-maintenance cash flow in quiet community. Pro forma at 90.9% occ.: rents $73,582 + misc $8,470 = $82,052 gross. Expenses: known $26,434 + 10% mgmt ($8,205), 6% maint ($4,923), 5% contract (snow/lawn, $4,103) = $43,665 total; NOI $38,387; 8.35% cap rate at $459,900 ask. Come take a tour today.

Monthly Cost Estimate

$2,674/mo

20% down · 6.5% · 30 years

Principal$362
Interest$2,166
Insurance$146

Estimates only. Actual payments may vary.

Location

1806 Main Street

Gowrie, IA 50543

Features & Amenities

Interior Features

Handicap Access

Exterior Features

ApartmentHandicap AccessPaved DrivePaved Street

Property Details

Heating

Forced AirNatural Gas

Cooling

Central Air

Questions & Answers

This 12-bedroom, 8-bathroom residential multi family at 1806 Main Street is listed at $499,900 ($54/sqft). The estimated monthly payment is $2,674 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: 1.14 acre lot, 17 parking spaces. Interior Features: Handicap Access. Exterior Features: Apartment, Handicap Access, Paved Drive.

This property is listed by Scott Underberg.

SU

Scott Underberg

Agent at Connections Real Estate Group PLLc

Listed by Connections Real Estate Group PLLc · Broker phone: (515) 576-5703 · View on Broker Site · Broker website

MLS# 28713· Source: Fort Dodge Board of Realtors· 239 days on PropertySimple

Copyright © 2026 Fort Dodge 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.

1806 Main Street, Gowrie, IA 50543

Open this listing in: