3202 Lincoln WAY, Ames, IA 50014
3202 Lincoln WAY, Ames, IA 50014
3202 Lincoln WAY, Ames, IA 50014
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$349,900
Est. payment /mo
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5 Beds
2 Baths
1,663 SqFt
Price Dropped by $10K

3202 Lincoln WAY Ames, IA 50014

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Marc Olson

Marc Olson

+1(515) 291-7900

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,663 sqft

Price per Sqft $210

MLS Listing ID 70041

Style Dutch Colonial

Bedrooms 5

HOA Y/N No

Abv Grd Liv Area 793

Year Built 1918

Lot Size 0.270 Acres

Acres 0.27

Property Sub-Type Single Family Residence

Source Central Iowa Board of REALTORS®

Land Area 1663

Property Description

Excellent opportunity to own an income-producing rental property just a few blocks west of Iowa State University. This classic Dutch Colonial style 2-story home offers 5 bedrooms, 2 bathrooms, a 2-car detached garage, and strong rental history with current gross income of $2,500 per month. The property is leased through July 31, 2026, providing immediate cash flow for the next owner. It also carries a current Letter of Compliance with the City of Ames valid through April 10, 2029 for added peace of mind.

Major exterior improvements include new roof, siding, and gutters completed in 2023, along with several newer vinyl windows and a new water heater installed in 2022. Inside, the home retains timeless character with oak hardwood floors throughout much of the property and spacious room sizes rarely found in student rentals.

The flexible floor plan includes three bedrooms on the upper level, one bedroom on the main floor, and one bedroom in the lower level, making it ideal for maximizing occupancy and rental demand. Tenants also enjoy a large main floor living and dining area perfect for gathering or studying.

Outside, the oversized yard offers room for recreation, while ample off-street parking and the detached 2-car garage provide added convenience and storage. Situated directly on the CyRide bus route, commuting to campus and throughout Ames is easy and convenient.

An added bonus: seller is offering a one-year American Home Shield home warranty. A smart addition to any investment portfolio!

Location

State IA

County Story

Zoning RH

Body of Water Public

Rooms

Basement Full

Primary Bedroom Level No

Bedroom 2 No

Interior

Interior Features Ceiling Fan(s)

Heating Forced Air, Natural Gas

Cooling Central Air

Flooring Vinyl, Hardwood, Carpet

Appliance Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer

Exterior

Street Surface Gravel

Porch Porch

Road Frontage Maintained

Garage Yes

Building

Foundation Poured

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

Schools

School District Ames

Others

Special Listing Condition Standard

Listed by CENTURY 21 SIGNATURE-Ames

NEARBY SCHOOL & BUSINESS

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Marc Olson

Marc Olson

Broker/Owner

+1(515) 291-7900

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3202 Lincoln WAY

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