Pending

$160,000

204-206 Elm St, Iowa Falls, IA 50126

4beds

2baths

1,936sqft

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Duplex

Built in 1980

-- sqft lot

$150,500 Zestimate^®

$83/sqft

$-- HOA

What's special

Off-street parking

Exceptional Investment Opportunity - Income Producing Duplex Don't miss this fantastic opportunity to own a well-maintained duplex ideally suited for investors or owner-occupants looking to offset their mortgage with rental income. This property features two spacious 2-bedroom units, each with off-street parking and 1-stall garage. Whether you're a seasoned investor seeking reliable cash flow or a first-time buyer looking to house-hack, this duplex delivers tremendous value and versatility. Currently tenant occupied, with one half rented at $875/month until 3/31/28, and the other half rented at $700 with a lease ending at the end of May 2026. Owner is actively seeking a new tenant, at a desired rental rate of $800/month.

66 days

259

15

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 2

Cooling

Central Air

Appliances

Laundry: 1st Floor, In Hall, Laundry Closet

Features

Basement: None

Interior area

Total structure area: 1,936
Total interior livable area: 1,936 sqft
Finished area above ground: 1,936
Finished area below ground: 0

Property

Parking

Total spaces: 4
Parking features: Garage, Parking Space, Paved, Attached
Uncovered spaces: 4

Lot

Size: 0.27 Acres
Dimensions: 121 x 44 x 142 x 142
Features: Level

Details

Parcel number: 892018102017
Zoning: R-1
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Duplex

Materials

Vinyl Siding
Roof: Asphalt

Condition

Year built: 1980

Utilities & green energy

Sewer: Public Sewer
Water: Public
Utilities for property: Cable Paid by Individual, Elec Individual Meters, Garbage Pd by Individual, Gas Individual Meters, Separate Meters, Water - Multiple Meters

Community & HOA

Location

Region: Iowa Falls

Financial & listing details

Price per square foot: $83/sqft
Tax assessed value: $164,180
Annual tax amount: $2,946
Date on market: 5/14/2026
Cumulative days on market: 65 days
Lease term: 9 Months or Less
Tenant pays: Electricity, Trash Collection, Gas, Heat, Snow Removal, Water

Estimated market value

$150,500

$143,000 - $158,000

$823/mo

Price history

Date	Event	Price
7/2/2026	Pending sale	$160,000$83/sqft
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20262066 Report a problem
6/25/2026	Listing removed	$800
Source: Zillow Rentals Report a problem
6/12/2026	Listed for rent	$800-3%
Source: Zillow Rentals Report a problem
5/14/2026	Listed for sale	$160,000+3.2%$83/sqft
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20262066 Report a problem
12/15/2025	Listing removed	$825
Source: Zillow Rentals Report a problem
12/11/2025	Listed for rent	$825
Source: Zillow Rentals Report a problem
12/3/2025	Listing removed	$155,000$80/sqft
Source: NoCoast MLS as distributed by MLS GRID #6331680 Report a problem
9/10/2025	Listed for sale	$155,000+10.3%$80/sqft
Source: NoCoast MLS as distributed by MLS GRID #6331680 Report a problem
1/18/2023	Sold	$140,500+0.4%$73/sqft
Source: NoCoast MLS as distributed by MLS GRID #6304435 Report a problem
12/5/2022	Pending sale	$140,000$72/sqft
Source: NoCoast MLS as distributed by MLS GRID #6304435 Report a problem
11/29/2022	Listed for sale	$140,000$72/sqft
Source: NoCoast MLS as distributed by MLS GRID #6304435 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 50126

Getting around

29 / 100

Car-Dependent

33 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

9/10
Rock Run Elementary School
Grades: 2-5Distance: 0.4 mi
7/10
Riverbend Middle School
Grades: 6-8Distance: 0.7 mi
4/10
Iowa Falls - Alden High School
Grades: 9-12Distance: 0.9 mi

Schools provided by the listing agent

Elementary: Iowa Falls
Middle: Iowa Falls
High: Iowa Falls

Source: Northeast Iowa Regional BOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.