Opportunity awaits at 1204 5th Street in Nevada, a unique and versatile property offering an incredible amount of space and possibilities in a highly visible location along Lincoln Highway. With nearly 6,800 square feet of finished space amongst all levels, multiple residential units, extensive garage space, and ample concrete parking, this property presents an exciting opportunity for an investor, business owner, or someone looking for a truly one-of-a-kind property. The expansive main level features a beautiful open wood staircase, accessible restroom, and flexible space that could accommodate a variety of office, retail, or other uses. Upstairs, the second level features two 2-bedroom apartments, providing an opportunity for rental income while utilizing the main level for another purpose. Both apartments have benefited from significant updates. The second floor also includes a shared laundry area and one unit has access to a rooftop deck. The property also includes a large finished basement with approximately 1,100 finished square feet, providing even more usable space for storage, operations, recreation, or other needs. Garage and parking space are another major highlight. The property features an approximately 1,000-square-foot attached garage with three overhead doors, along with an additional 525-square-foot detached garage. Combined with plenty of concrete parking, there is plenty of room for vehicles, equipment, tenants, etc.
Opportunity awaits at 1204 5th Street in Nevada, a unique and versatile property offering an incredible amount of space and possibilities in a highly visible location along Lincoln Highway. With nearly 6,800 square feet of finished space amongst all levels, multiple residential units, extensive garage space, and ample concrete parking, this property presents an exciting opportunity for an investor, business owner, or someone looking for a truly one-of-a-kind property. The expansive main level features a beautiful open wood staircase, accessible restroom, and flexible space that could accommodate a variety of office, retail, or other uses. Upstairs, the second level features two 2-bedroom apartments, providing an opportunity for rental income while utilizing the main level for another purpose. Both apartments have benefited from significant updates. The second floor also includes a shared laundry area and one unit has access to a rooftop deck. The property also includes a large finished basement with approximately 1,100 finished square feet, providing even more usable space for storage, operations, recreation, or other needs. Garage and parking space are another major highlight. The property features an approximately 1,000-square-foot attached garage with three overhead doors, along with an additional 525-square-foot detached garage. Combined with plenty of concrete parking, there is plenty of room for vehicles, equipment, tenants, etc.
IAR #6342043
Aug 26, 2026
Listed
$395,000
$68/sq ft
+30
DMMLS #748017
Aug 26, 2026
Listed
$395,000
$68/sq ft
Public Records
Jan 19, 2016
Sold
$1,300,200
$224/sq ft
CIBOR #41260
Mar 12, 2015
Sold
$150,000
$26/sq ft
Oct 17, 2014
Listed
$214,000
$37/sq ft
CIBOR #40163
May 19, 2014
Listed
$295,000
$51/sq ft
Public Records
Nov 13, 2007
Sold
$182,000
$31/sq ft
Year
Property tax
Land + Additions
Assessment*
2026
$4,140 (+3.7%)
$86,400 + $175,100
$261,500
2025
$3,992 (+2.5%)
$86,400 + $175,100
$261,500
2024
$3,894 (−2.5%)
$86,400 + $175,100
$261,500
2023
$3,994 (+1.0%)
$74,900 + $165,700
$240,600
2022
$3,956 (+2.6%)
$69,100 + $133,900
$203,000
2021
$3,854 (+2.9%)
$69,100 + $133,900
$203,000
2020
$3,744 (−4.0%)
$63,400 + $123,200
$186,600
2019
$3,902 (+2.6%)
$63,400 + $123,200
$186,600
2018
$3,804 (+101.9%)
$63,400 + $123,200
$186,600
2017
$1,884 (+2.5%)
$63,400 + $113,700
$177,100
2016
$1,838 (−26.1%)
$63,400 + $113,700
$177,100
2014
$2,488
$46,100 + $31,900
$78,000
Public record
Beds
3
Baths
3
Stories
2
Lot width
120 ft.
Lot depth
140 ft.
Lot size
0.39 Acres
Year renovated
1900
Finished Sq. Ft.
6,936
Unfinished Sq. Ft.
—
Total Sq. Ft.
6,936
Year built
1900
Style
Single Family Residential
County
Story County
APN
1106390400
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 14, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 101° expected this year, 15 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Nevada, IA • 50201
Average low and high temperatures (°F)
29
11
37
17
56
33
62
42
73
51
82
63
85
67
81
63
79
57
67
48
49
32
34
19
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in Nevada. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
11.3 hrs
6.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1204 5th St
$389,657
$5,343 under list price of $395K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $263K to $499K.