$320,000
SOLD MAY 8, 2025

198 1st St Gilbert, IA 50105

-- Bed
-- Bath
3,932 Sq Ft
0.44 Acres

Recently Sold

$81 Per Sq Ft

9% Below List Price

12 Days on Market

Highlights

  • 4 Kitchens
  • No HOA
  • Forced Air Heating and Cooling System
  • Gilbert Elementary School Rated A
  • Laundry Room

About This Home

As of May 2025

Investor or House Hack Opportunity! This well-maintained 4-plex, located in the growing town of Gilbert, offers four spacious 2-bedroom, 1.5-bathroom units. Each unit features a private back deck or patio overlooking a wooded area for added privacy. Recent updates include a new roof, gutters, and flooring. The property also features a master lock system and a brick exterior ensuring durability with minimal maintenance. All utilities are separately metered, reducing landlord expenses. With Gilbert's strong rental demand, there's excellent potential to increase rents and maximize cash flow. Walking distance to Gilbert's highly rated school and charming Main Street is great for tenant retention. This prime multi-family property won't last long!

Last Agent to Sell the Property

Collin Fett

RE/MAX Real Estate Center Listed on: 03/13/2025

RE/MAX Real Estate Center

Last Buyer's Agent

Lisa Vance

LPT Realty, LLC

LPT Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,491

Year Built

  • Built in 1972

Home Design

  • Brick Exterior Construction
  • Brick Foundation
  • Asphalt Shingled Roof

Interior Spaces

  • 3,932 Sq Ft Home
  • 2-Story Property

Kitchen

  • 4 Kitchens
  • Stove
  • Cooktop
  • Microwave

Laundry

  • Laundry Room
  • Laundry on main level
  • Dryer
  • Washer

Additional Features

  • 0.44 Acre Lot
  • Forced Air Heating and Cooling System

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 0504475210

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,491

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Style: Two Story
  • Lp Amt Sq Ft: 89.01
  • Sp Amt Sq Ft: 81.38
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Refrigerators: 4
  • Stoves Total: 4
  • Interior Amenities: 1st Flr Laundry
  • Kitchens: 4
  • Laundry: Yes
  • Included Items: Cooktop, Dryer, Microwave, Refrigerator, Stove, Washer
  • Living Area Sq Ft: 3932
  • Total Sq Ft: 3932

Exterior Features

  • Exterior: Brick
  • Foundation: Brick
  • Roof: Asphalt Shingle

Utilities

  • Sewer: City
  • Water: City
  • Air Conditioner: Central
  • Heat: Gas Forced Air

Condo/Co-op/Association

  • Association Fee: No

Schools

  • School District: Gilbert

Lot Info

  • Acres: 0.4362
  • Lot S F: 19000
  • Assessor Parcel Number: 0504475210
  • Zoning: res

Rental Info

  • Furnished: No
  • Landlord Tenant Utilities: Building Insurance Owner, Electric Tenant, Gas Tenant, Insurance Tenant, Taxes Owner, Water Tenant

Tax Info

  • Gross Taxes: 4491.05
  • Net Taxes: 4492.00

MLS Schools

  • School District: Gilbert

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/08/2025 05/08/25 Sold $320,000 -8.6% $81 / Sq Ft
03/25/2025 03/25/25 Pending -- -- --
03/13/2025 03/13/25 For Sale $350,000 -- $89 / Sq Ft
Source: Des Moines Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2025

    Collin Fett

    RE/MAX

  • L

    Buyer's Agent in 2025

    Lisa Vance

    LPT Realty, LLC

See All Agents

Map

Source: Des Moines Area Association of REALTORS®

MLS Number: 713109

Des Moines Area Association of REALTORS®

Iowa Story County Gilbert 50105

198 1st St, Gilbert, IA

This home is located at 198 1st St, Gilbert, IA 50105 and is currently priced at $320,000, approximately $81 per square foot. This property was built in 1972. 198 1st St is a home located in Story County with nearby schools including Gilbert Elementary School, Gilbert Intermediate School, and Gilbert Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Des Moines Area Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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