Calling all investors and people with vision, this unique property has many uses and potential. Located on the SW side of Oelwein in a residential neighborhood it is currently being used as a small church. There are two buildings included and 2 city lots. The larger building is over 1,300 sqft with a full walkout finished basement. It has 2 half bathrooms. There is a kitchen in the basement. With a little remodeling, this could make a great home, Air BnB, rental unit or keep it commercial as a church, office, salon, photography studio or community event center. With a ramp and parking, it is set up to cater to many businesses. This property also includes an additional 850 sqft building that has a 1/2 bathroom and 2 larger rooms. You could have 2 rentals on one property or 2 Air BnBs... maybe live in one and rent out the second unit to make your payment. Again, endless possibilities. This is being sold by the Church and will be sold in its "as is" condition. However there are no known major issues.
Sold for $59,000
$59,000
723 1st St SW, Oelwein, IA 50662
2beds
3,150sqft
Single Family Residence
Built in 1900
0.56 Acres Lot
$60,500 Zestimate®
$19/sqft
$1,518 Estimated rent
Home value
$60,500
Estimated sales range
Not available
$1,518/mo
Zestimate® history
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Zillow last checked: 7 hours ago
Listing updated: April 02, 2025 at 04:04am
Listed by:
Emily J Koch 563-422-7274,
Koch Real Estate,
Spencer Koch 563-380-5855,
Koch Real Estate
Bought with:
Heather Federspiel, B61415
Wapsie Realty LLC
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20250876
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 3
- 1/2 bathrooms: 3
Other
- Level: Upper
Other
- Level: Main
Other
- Level: Lower
Dining room
- Level: Lower
Family room
- Level: Lower
Kitchen
- Level: Lower
Living room
- Level: Main
Heating
- Forced Air
Cooling
- Window Unit(s)
Appliances
- Included: Cooktop, Free-Standing Range, Refrigerator, Gas Water Heater
Features
- Basement: Block,Floor Drain,Walk-Out Access,Partially Finished
- Has fireplace: No
- Fireplace features: None
Interior area
- Total interior livable area: 3,150 sqft
- Finished area below ground: 1,000
Property
Parking
- Parking features: None
Accessibility
- Accessibility features: Handicap Access
Features
- Exterior features: Garden
Lot
- Size: 0.56 Acres
- Dimensions: 150 x 163
- Features: Corner Lot, Level
Details
- Additional structures: Storage
- Has additional parcels: Yes
- Parcel number: 1820428007
- Zoning: R-2
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subtype: Single Family Residence
Materials
- Vinyl Siding
- Roof: Shingle
Condition
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Security
- Security features: Smoke Detector(s)
Location
- Region: Oelwein
Other
Other facts
- Road surface type: Crushed Rock, Hard Surface Road
Price history
| Date | Event | Price |
|---|---|---|
| 4/8/2025 | Sold | $59,000$19/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20250876 Report a problem | ||
| 3/10/2025 | Pending sale | $59,000$19/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20250876 Report a problem | ||
| 3/7/2025 | Listed for sale | $59,000+118.5%$19/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20250876 Report a problem | ||
| 11/24/2008 | Sold | $27,000$9/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | -- | $42,690 |
| 2023 | -- | $42,690 +5.2% |
| 2022 | -- | $40,570 +8.8% |
Find assessor info on the county website
Neighborhood: 50662
Nearby schools
GreatSchools rating
- 4/10Wings Park Elementary SchoolGrades: 1-4Distance: 1.2 mi
- 3/10Oelwein Middle SchoolGrades: 5-8Distance: 1.4 mi
- 4/10Oelwein High SchoolGrades: 9-12Distance: 1.2 mi
Schools provided by the listing agent
- Elementary: Oelwein
- Middle: Oelwein
- High: Oelwein
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
- Fayette County
- Oelwein
- 50662
- 723 1st St SW