$349,900

215 E Ninth Street, Madrid, IA 50156

  • 6 beds |
  • 4 baths |
  • 2,686 sqft
  • Property Icon Single-Family Home
  • Property Year Built Icon Built in 1918
  • Property Lot Size Icon9,148sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $130/sqft
  • Property List Date Icon Listed 23 days ago

Property Description

Rare opportunity to own a unique and versatile 3,400 sqft residential home with four separate living spaces (each with a private entry). Perfect for an owner-occupant looking to offset their mortgage, or a house hacker or investor looking for additional income streams! The property consists of Unit 1 - XL 2bed/1bath unit with a shared enclosed porch. Unit 2. - Upstairs studio / full bath with a shared enclosed porch. Unit 3 - 2bed/1bath with a private enclosed porch and Unit 4 - 1bed/1bath. Units 1 & 2 could be combined to make a large, 2,200 sq ft living space for an owner-occupier while generating rental income from the two remaining units. Three of the units are fully furnished, all which conveys with the sale. All units are currently occupied with short-term leases. The property has extensive updates including new kitchens in each unit, new windows throughout, new hot water tanks, and newer mini-split systems. In addition, a 2,400 sqft unfinished basement with tall ceilings is a huge value add opportunity. With multiple living spaces, additional income streams, and significant upgrades, this property offers exceptional potential for the right buyer!

Listing Status:
Active
Date Added:
March 12, 2026
Data Last Updated:
April 4, 2026 at 8:19PM
Listing Office:
Boutique Real Estate : (515) 314-4777
Listing Agent:
Amanda Gregory : (754) 422-8087
MLS ID:
736117
  • Appliances: CooktopDryerDishwasherMicrowaveRefrigeratorStoveWasher
  • Laundry: Main Level
  • Basement: Unfinished
  • Flooring: Laminate
  • A/C: Central Air
  • Heating: BaseboardElectricForced AirGasNatural Gas
  • General: DeckStorageStorage
  • Other Structures: StorageDeck
  • Parking: Carport
  • Roofing: AsphaltShingle
  • General: Metal SidingBlockBrick/Mortar
  • Road/Access: Concrete
  • Originating MLS: DMAAR_DM
  • School District: Madrid
  • County: Boone
  • Zoning: ResHOPKINS ADD E 1/2 OF LOTS 3 & 4 BLOCK 3 & S 1/2 E-W ALLEY ADJ TO N SIDE OF E 1/2 OF LOT 3 NE SE088226364186028
  • Water: Public
  • Sewer: Public Sewer
  • Source: DMAAR_DM

This listing courtesy of Amanda Gregory , Boutique Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

M

Madrid Elementary School

213 W 1st St, Madrid, IA, 50156

Grades KG-5

0.55 miles away

M

Madrid Junior High School

599 N Kennedy Ave, Madrid, IA, 50156

Grades 6-8

0.96 miles away

M

Madrid High School

599 N Kennedy Ave, Madrid, IA, 50156

Grades 9-12

0.96 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.