Income-producing duplex situated on a corner lot in the heart of downtown! This once-in-a-lifetime opportunity offers incredible potential for a home-based business or investment property. Enjoy the unbeatable location—just steps away from local restaurants, breweries, and the Trout Run Trail.
Sold for $185,000
$185,000
616 W Water St, Decorah, IA 52101
2beds
2baths
1,344sqft
Duplex
Built in 1900
-- sqft lot
$184,500 Zestimate®
$138/sqft
$1,091 Estimated rent
Home value
$184,500
$149,000 - $227,000
$1,091/mo
Zestimate® history
Owner options
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$1,091/mo
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$1,091/mo
Rent Zestimate®
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$1,223/mo
Est. payment
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$1,223/mo
Est. payment
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List your homeWhat's special
Corner lot
Zillow last checked:
Listing updated:
Listed by:
Jayme Folkedahl 563-380-6424,
Kelly Real Estate Inc
Bought with:
Benjamin T Harman, S59576
Harman Realty
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20254399
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
Heating
- Forced Air, Natural Gas
Cooling
- Window Unit(s)
Appliances
- Laundry: Lower Level
Features
- Basement: Stone/Rock
Interior area
- Total structure area: 1,344
- Total interior livable area: 1,344 sqft
- Finished area above ground: 672
- Finished area below ground: 672
Property
Parking
- Total spaces: 4
- Parking features: Parking Space, None
- Uncovered spaces: 4
Features
- Patio & porch: Enclosed
Lot
- Size: 31 Square Feet
- Dimensions: 0.18
- Features: Corner Lot
Details
- Parcel number: 111632801300
- Zoning: R-3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Slate
- Roof: Asphalt
Condition
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Elec Individual Meters, Garbage in Rent, Water in Rent
Community & HOA
Location
- Region: Decorah
Financial & listing details
- Price per square foot: $138/sqft
- Tax assessed value: $187,800
- Annual tax amount: $3,075
- Date on market: 9/8/2025
- Cumulative days on market: 123 days
- Lease term: Month To Month
- Tenant pays: Electricity
Price history
| Date | Event | Price |
|---|---|---|
| 2/6/2026 | Sold | $185,000-17.8%$138/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20254399 Report a problem | ||
| 1/9/2026 | Pending sale | $225,000$167/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20254399 Report a problem | ||
| 11/12/2025 | Price change | $225,000-8.2%$167/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20254399 Report a problem | ||
| 10/4/2025 | Price change | $245,000-16.9%$182/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20254399 Report a problem | ||
| 9/8/2025 | Listed for sale | $295,000$219/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20254399 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,076 +4.2% | $187,800 +15% |
| 2024 | $2,952 +0.5% | $163,370 |
| 2023 | $2,938 +26.2% | $163,370 +15.9% |
| 2022 | $2,328 +4.9% | $140,980 +22.3% |
| 2021 | $2,220 +4.9% | $115,320 +6.8% |
| 2020 | $2,116 -2% | $107,960 |
| 2019 | $2,160 +1.9% | $107,960 |
| 2018 | $2,120 -2.6% | $107,960 +6.8% |
| 2017 | $2,176 +4.2% | $101,100 |
| 2016 | $2,088 +5.3% | $101,100 +5.3% |
| 2015 | $1,982 | $95,990 |
| 2014 | $1,982 +12.4% | $95,990 |
| 2013 | $1,764 | -- |
Find assessor info on the county website
Neighborhood: 52101
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Nearby schools
GreatSchools rating
- 9/10Decorah Middle SchoolGrades: 5-8Distance: 0.4 mi
- 9/10Decorah High SchoolGrades: 9-12Distance: 0.5 mi
- 7/10Carrie Lee Elementary SchoolGrades: 3-4Distance: 0.4 mi
Schools provided by the listing agent
- Elementary: Decorah Community Schools
- Middle: Decorah Community Schools
- High: Decorah Community Schools
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.
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- Iowa
- Winneshiek County
- Decorah
- 52101
- 616 W Water St
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