Occupied
For Sale
$165,000
1008 15TH ST, Sioux City, IA 51105
Multi-Unit, Sioux City, IA
Property Size1,037 SF
Lot Size0.05 Acres
Price / SF$159.11
Days on Market34
Property Features for 1008 15TH ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NC.4
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Elementary school
Irving
Middle school
North Middle
High school
North High
Directions
GPS :)
Subdivision
Nside North
Standard status
Active
APN
19193-894721462003
Size
1,037 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GALBRAITHS 2ND E 39 FT W 116 FT LOT 11 BLK 2
Tax Annual Amount
1182
Legal Description
GALBRAITHS 2ND E 39 FT W 116 FT LOT 11 BLK 2
Building Details
Year built
1900
Number of units
2
Listing Agency:
Cardinal City Realty, Inc.
(402) 494-5444
Listed By:
Alma Vaca de Salcido
(712) 204-1489
Added: Aug 1
Changed: Sep 2
Last Checked: Sep 3 at 11:06AM
MLS# 834066
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,037 square feet within a two-unit residential configuration. The layout includes two bedrooms and two bathrooms, with each side represented by one bedroom and one bathroom. Constructed in 1900, the property is situated on a 0.05-acre lot and carries NC.4 zoning.
Both units are fully occupied by long-term tenants. The property is located at 1008 15th St in Sioux City, Iowa, within ZIP Code 51105.
Both units are fully occupied by long-term tenants. The property is located at 1008 15th St in Sioux City, Iowa, within ZIP Code 51105.
Key Highlights
- Fully occupied duplex with long‑term tenants
- 1,037 square feet of building area
- Two bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$157,640
$157.6K
Cap Rate 7%
$112,600
$112.6K
Cap Rate 9%
$87,578
$87.6K
Market Conditions
NOI Build-Up for 1,037 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$11.8K $11.40/SF
− Vacancy
−$562 −$0.54/SF
EGI
$11.3K $10.86/SF
− OpEx
−$3.4K −$3.26/SF
NOI
$7.9K $7.60/SF
Area
Woodbury County, IA
Vacancy
4.75%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$157,640
Cap Rate 7%
$112,600
Cap Rate 9%
$87,578
Alternative Uses
Best Use
Multifamily LT 5
$112.6K
$98.5K – $131.4K
NOI $7,882 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$104.0K
$91.0K – $121.4K
NOI $7,282 @ 7.0% cap · market cap 4.41%
Theoretical Best
Specialty Retail
$155.8K
$136.4K – $181.8K
NOI $10,908 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 51105, IA
10,565
Population
4,197
Households
2.5
Avg Household Size
31
Median Age
7%
College-Educated
64%
High-School Grad
6.0 sq mi
ZIP Area
1,761
Density / Sq Mi
$46,940
Median Household Income
$33,152
Median Earnings
$855
Median Rent
$84,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with both sides leased to established tenants.
Where is this duplex located?
The property is located at 1008 15TH ST Sioux City, IA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Fully occupied duplex with long‑term tenants; 1,037 square feet of building area; Two bedrooms and two bathrooms
