606 Hooper Street Melbourne, IA $ 239,900
606 Hooper Street
$ 239,900
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606 Hooper Street

Melbourne, IA, 50162
$ 239,900
Baths0.0 Sq 2,912

Monthly Estimate*

$ 1,497

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Studio

Multi-Family Home for sale in Melbourne, IA

for $239,900. This 2,912 square foot home was built in 1976 on a lot size of 0.17.

Investor alert! 606 Hopper Street is a completely occupied and priced-to-sell 4-plex in Melbourne, generating over $32,000 in annual income with a strong 9% CAP rate. Each of the four units features 2 bedrooms and 1 bathroom, offering steady demand and reliable rental performance. The property boasts newer siding and a newer roof, minimizing future maintenance costs and adding long-term value. Tenants enjoy the convenience of a coin-operated laundry, and each unit comes fully equipped with a refrigerator and range, ensuring immediate rental readiness. With solid cash flow, consistent occupancy, and key updates already completed, this multifamily property is a standout opportunity. Sold AS-IS, presenting exceptional value for investors looking to expand their portfolio or secure dependable passive income.

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Multi-Family Active

Price

$ 239,900

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 1,406

Style

Lot Size

0.17

Year Built

1976

Town/City

Melbourne

County/Region

Marshall

MLS | Web ID

6334065

Features
General
Sewer City Sewer/Connected
Heating Forced Air
Roof Shingle
Zoning Residential-Multi-Family
Garage Spaces 0
Construction Materials Frame Vinyl Siding
Year Built 1976
Electric Circuit Breakers
Tenant Pays Electricity
Property Subtype Quadruplex
Tax Year 2024
Gross Income 32040
Accessibility None
County Marshall
Net Operating Income 21394
Operating Expense 10646
Property Type Residential Income
Association Amenities Laundry
Contingency None
MaintenanceExpense 0
Subdivision Name KOBBES ADD
Status Active
Directions Use GPS or contact listing agent
Association Name MIR
Number Of Units Total 4
Lot Size Units Acres
Lot Size Square Feet 7405.2
Tax Annual Amount 1406
Electric Expense 720
Fuel Expense 0
Trash Expense 1080
Water Sewer Expense 4200
Living Area Units Square Feet
Standard Status Active
Legal Description W 72' OF LOTS 1 & 2 BLK 4
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Interior
Basement Full Finished
Total Fireplaces 0
Fireplace Y/N N
Below Grade Finished Area 1456
Total Baths 0
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Exterior
Parking Features Concrete
Water Source Public
Lot Dimensions .17 acres
Lot Size Acres 0.17
Foundation Area 1456
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* Excluded Features
List By
Kristin Polley

Listing Agent

Century 21 Signature Real Estate

Broker

kristinpolley@c21sre.com

Email

Affordability Calculator

$1,614
Per Month
93%
7%
0%
Monthly Principal & Interest
$1,497
Monthly Property Taxes
$117
Monthly 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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Nearby
2872932 Elementary School
2872966 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
12/1/2025$239,900 Listed Price

Map


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606 Hooper Street, Melbourne, IA, 50162 is a Multi-Family Home for sale at $239,900 with 2,912 sqft and a lot size of 0.17. 606 Hooper Street is a studio with 0.0 baths and was built in 1976. The property's zip code is 50162 which is in Melbourne, IA