This conversion duplex offers the perfect opportunity to add value and generate strong returns. Located just blocks from downtown Winterset, this property is ideal for house hackers, investors, or anyone looking to expand their portfolio in a growing community. Each unit offers spacious layouts with room for updates and personalization. With separate entrances, utilities, and off-street parking the bones are here, just bring your vision and finishing touches. Live in one unit while renting out the other, or lease both for solid long-term cash flow. Whether you're looking to renovate and hold or flip for profit, this is a rare chance to capitalize on affordable multifamily in a desirable small-town setting. Don't miss this one!
For sale
$125,000
523 S 2nd St, Winterset, IA 50273
5beds
1,556sqft
Duplex, Multi Family
Built in 1870
-- sqft lot
$-- Zestimate®
$80/sqft
$-- HOA
What's special
Off-street parkingSpacious layoutsSeparate entrances
- 62 days |
- 367 |
- 15 |
Zillow last checked:
Listing updated:
Listed by:
Benjamin Grotzke (515)745-0425,
LPT Realty, LLC
Source: DMMLS,MLS#: 720154
Originating MLS: Des Moines Area Association of REALTORS
Originating MLS: Des Moines Area Association of REALTORSLoading...
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 2
- Main level bedrooms: 2
Heating
- Baseboard, Electric
Cooling
- Window Unit(s)
Appliances
- Included: Refrigerator, Stove
Interior area
- Total structure area: 1,556
- Total interior livable area: 1,556 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached, Garage, Two Car Garage
- Attached garage spaces: 2
Lot
- Size: 0.32 Acres
Details
- Parcel number: 820001016050000
- Zoning: R
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Duplex
- Property subtype: Duplex, Multi Family
- Attached to another structure: Yes
Materials
- Cement Siding
- Foundation: Block
- Roof: Asphalt,Shingle
Condition
- Year built: 1870
Community & HOA
HOA
- Has HOA: No
Location
- Region: Winterset
Financial & listing details
- Price per square foot: $80/sqft
- Tax assessed value: $156,500
- Annual tax amount: $3,500
- Date on market: 6/12/2025
- Cumulative days on market: 265 days
- Listing terms: Cash,Conventional
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 5/4/2026 | Listed for sale | $125,000-10.7%$80/sqft |
Source:  DMMLS #720154 Report a problem | ||
| 1/1/2026 | Listing removed | $140,000$90/sqft |
Source: DMMLS #720154 Report a problem | ||
| 11/14/2025 | Price change | $140,000-12.4%$90/sqft |
Source: DMMLS #720154 Report a problem | ||
| 6/12/2025 | Listed for sale | $159,900+27.9%$103/sqft |
Source: DMMLS #720154 Report a problem | ||
| 8/25/2023 | Sold | $125,000-21.9%$80/sqft |
Source: DMMLS #662594 Report a problem | ||
| 6/28/2023 | Pending sale | $160,000$103/sqft |
Source: DMMLS #662594 Report a problem | ||
| 10/25/2022 | Listed for sale | $160,000+255.6%$103/sqft |
Source: DMMLS #662594 Report a problem | ||
| 3/10/1995 | Sold | $45,000$29/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,700 +4.7% | $156,500 +13.5% |
| 2024 | $2,578 +31.7% | $137,900 |
| 2023 | $1,958 -0.2% | $137,900 +60.9% |
| 2022 | $1,962 +8.9% | $85,700 |
| 2021 | $1,802 +2.6% | $85,700 +17.1% |
| 2020 | $1,756 +6% | $73,200 |
| 2019 | $1,656 -16.4% | $73,200 +9.6% |
| 2018 | $1,982 -7.6% | $66,800 -18.9% |
| 2017 | $2,146 +10.4% | $82,400 |
| 2016 | $1,944 +1% | $82,400 |
| 2015 | $1,924 | $82,400 |
| 2014 | $1,924 -4.7% | $82,400 |
| 2013 | $2,018 +2.6% | -- |
| 2012 | $1,966 -8.7% | -- |
| 2011 | $2,154 +0.9% | -- |
| 2010 | $2,134 +8.4% | -- |
| 2009 | $1,968 +8.6% | -- |
| 2008 | $1,812 +7.5% | -- |
| 2007 | $1,686 | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.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.
Climate risks
Neighborhood: 50273
Nearby schools
GreatSchools rating
- 5/10Winterset Elementary SchoolGrades: PK-3Distance: 0.3 mi
- 6/10Winterset Junior High SchoolGrades: 7-8Distance: 0.6 mi
- 5/10Winterset Senior High SchoolGrades: 9-12Distance: 0.6 mi
Schools provided by the listing agent
- District: Winterset
Source: DMMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Iowa
- Madison County
- Winterset
- 50273
- 523 S 2nd St
Nearby cities
Nearby zip codes
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