This fully occupied Le Mars duplex offers a 3 bed and a 4 bed unit, both freshly updated throughout, so it produces income from day one with no lease-up risk or immediate capital outlay. Each unit has its own furnace, central air, and water heater, which keeps utilities split and tenants paying all utilities. The larger floor plans appeal to families and long-term renters, helping keep turnover and vacancy low. Located just a few blocks from downtown with easy access to Highway 75, it's a solid addition to any rental portfolio. Contact the listing agent for rent details and to schedule a showing.
For sale
$325,000
426 1st St SW, Le Mars, IA 51031
7beds
3,030sqft
Multi Family
Built in 1920
-- sqft lot
$312,700 Zestimate®
$107/sqft
$-- HOA
What's special
Larger floor plansCentral airFreshly updated throughoutWater heater
- 24 days
- 500
- 13
Zillow last checked:
Listing updated:
Listed by:
Nic Madsen 712-540-6562,
Gateway Real Estate Advisors,
Emmaily Kurth,
Gateway Real Estate Advisors
Source: Northwest Iowa Regional BOR,MLS#: 834780
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
- Full bathrooms: 3
Cooling
- 2 Central
Interior area
- Total structure area: 3,030
- Total interior livable area: 3,030 sqft
- Finished area below ground: 938
Property
Parking
- Total spaces: 2
- Parking features: Detached
- Garage spaces: 2
Lot
- Size: 9,147 Square Feet
Details
- Parcel number: 191491216107001
- Zoning: res
- Zoning description: res
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 1920
Utilities & green energy
- Sewer: Public Sewer
- Water: City
Community & HOA
Location
- Region: Le Mars
Financial & listing details
- Price per square foot: $107/sqft
- Tax assessed value: $171,480
- Annual tax amount: $1,185
- Price range: $325K - $325K
- Date on market: 9/25/2026
- Total actual rent: 2850
- Tenant pays: Water, Electricity, Gas
Estimated market value
$312,700
$297,000 - $328,000
$1,215/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/25/2026 | Listed for sale | $325,000$107/sqft |
Source:  Northwest Iowa Regional BOR #834780 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,126 -52% | $96,480 |
| 2024 | $2,348 +6.4% | -- |
| 2023 | $2,206 +1% | $183,660 +23.2% |
| 2022 | $2,184 +2.2% | $149,080 |
| 2021 | $2,138 +1.7% | $149,080 +7.3% |
| 2020 | $2,102 +3.3% | $138,960 |
| 2019 | $2,034 -3.1% | $138,960 +8.2% |
| 2018 | $2,098 | $128,440 +2.8% |
| 2017 | $2,098 -1.5% | $124,920 |
| 2016 | $2,130 +9.6% | $124,920 +9.9% |
| 2015 | $1,944 | $113,690 |
| 2014 | $1,944 | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 51031
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