For sale

$260,000

416 Michigan St, Storm Lake, IA 50588

10beds

5,015sqft

Get pre-qualified

Multi Family

Built in 1955

-- sqft lot

$248,000 Zestimate^®

$52/sqft

$1/mo HOA

What's special

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.

11 days

237

8

Loading...

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

$248,000

$236,000 - $260,000

$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.

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.

See how much you could borrow to make a competitive offer.

Get pre-qualified