204 3Rd Street SW Rake, IA ^$ 299,900

204 3Rd Street SW

^$ 299,900

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204 3Rd Street SW

Rake, IA, 50465

^$ 299,900

Bedrooms-- Baths--

Monthly Estimate*

^$ 1,871

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Commercial Property for sale in Rake, IA

for $299,900. This building was built in 1970 on a lot size of 1.74.

Turnkey 8-unit apartment with positive cashflow on Day 1 and additional upside. The deal includes two 4-unit buildings side-by-side on a 1.74 acre lot. All units have received recent updates including fresh paint, new flooring, and new plumbing. Many also have new kitchen cabinets and bathroom updates. Good tenants with in-house management in a nice, stable small town. Room for increasing rents without major updates. Call today for a showing!

Commercial Active

Price

^$ 299,900

Property Type

Commercial

Taxes

^$ 2,358

Style

Lot Size

1.74

Year Built

1970

Town/City

Rake

County/Region

Winnebago

MLS | Web ID

6319790

Features

General

Sewer City Sewer/Connected

Heating Forced Air

Utilities Electric Common Heating Separate

Garage Spaces 0

Construction Materials Brick

Year Built 1970

Property Subtype Apartment

Tax Year 2022

Current Use Commercial

Accessibility None

County Winnebago

Property Type Commercial Sale

Contingency None

Possible Use None

Status Active - Contingent

Directions 3rd St SW is gravel off of Grace St. Apartments on West side of 3rd St SW.

Association Name NCIR

Open Parking Spaces 12

Number Of Units Total 8

Lot Size Units Acres

Lot Size Square Feet 75794.4

Tax Annual Amount 2358

Living Area Units Square Feet

Standard Status Active

Legal Description 16 100 26 COM AT CENTER OF 16 100 26 TH N ALONG N-S1/4 OF SEC LINE 684.6' TH W 140' TO. Winnebago County Parcel #0116177001.

Exterior

Parking Features Gravel

Water Source Public

Lot Dimensions Non-uniform lot shape. 628'x233'x22'x103'x120'x75'x337'

Lot Size Acres 1.74

Foundation Area 5803

* Excluded Features

List By

Bethanie Farus

Listing Agent

1St Choice Realty

Broker

641-585-2404

Contact

Affordability Calculator

$2,067

Per Month

Monthly Principal & Interest: $1,871
Monthly Property Taxes: $197
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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THE TIME TO SELL IS NOW! What's my home worth?

Nearby

Trends
Schools

Commerical listings in Rake, IA

Average List Price ^$172,900

Percent of Sale Price 42%

About Rake, IA

161 Population

-16% Since 2002

^$51,029 Median Income

48.58 Median Age

39% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

2872932 Elementary School

2872966 Middle School

Unknown High School High School

Pricing History

Date	Price	Price Change	Description
8/14/2025	$299,900		Listed Price

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204 3Rd Street SW, Rake, IA, 50465 is a Commercial Property for sale at $299,900 with a lot size of 1.74. 204 3Rd Street SW was built in 1970. The property's zip code is 50465 which is in Rake, IA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of the Iowa Association of REALTORS service.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is deemed reliable but is not guaranteed accurate by the the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect participants and/or the MLS from liability. Data is updated as of 12/7/2025.

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204 3Rd Street SW

Commercial Property for sale in Rake, IA

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