Tenant-Occupied
For Sale
$162,000
1208 JENNINGS ST, Sioux City, IA 51105
MULTI_FAMILY - Sioux City, IA
Property Size1,792 SF
Lot Size0.06 Acres
Price / SF$90.40
Days on Market134
Property Features for 1208 JENNINGS ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NC.4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Lot features
Fenced Yard
Directions
GPS is correct
Subdivision
Midtown
Standard status
Active
APN
19193-894728205006
Size
1,792 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
SIOUX CITY EAST S 10 FT W 50 FT LOT 4 & N 40 FT W 50 FT LOT 5 BLK 105
Tax Annual Amount
1778
Legal Description
SIOUX CITY EAST S 10 FT W 50 FT LOT 4 & N 40 FT W 50 FT LOT 5 BLK 105
Utilities
Heating system
Radiant
Cooling system
Window Unit(s)
Building Details
Year built
1890
Number of units
2
Listing Agency:
Keller Williams Siouxland · Keller Williams Realty
(712) 226-1900
Listed By:
Mandy Wagner · License #72469000
(712) 253-3869
Added: Apr 2
Changed: Aug 12
Last Checked: Aug 13 at 2:06AM
MLS# 832344
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 two residential units totaling 1,792 square feet, with four bedrooms and two bathrooms. Each unit has its own kitchen and living area, while shared laundry is provided on site. The property includes two refrigerators, two stoves/ovens, and a shared washer and dryer. Radiant heating and window-unit cooling serve the building.
Both units are occupied by tenants under month-to-month leases. Built in 1890, the property occupies approximately 0.06 acres and is identified with NC.4 zoning. The duplex is located at 1208 Jennings St in Sioux City, Iowa.
Both units are occupied by tenants under month-to-month leases. Built in 1890, the property occupies approximately 0.06 acres and is identified with NC.4 zoning. The duplex is located at 1208 Jennings St in Sioux City, Iowa.
Key Highlights
- Two‑unit duplex with 1,792 square feet, 4 bedrooms, and 2 bathrooms
- Both units are tenant‑occupied under month‑to‑month leases
- Separate kitchen and living area in each unit
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
$13,621
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
8.41%
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%
$272,420
$272.4K
Cap Rate 7%
$194,586
$194.6K
Cap Rate 9%
$151,344
$151.3K
Market Conditions
NOI Build-Up for 1,792 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
$20.4K $11.40/SF
− Vacancy
−$970 −$0.54/SF
EGI
$19.5K $10.86/SF
− OpEx
−$5.8K −$3.26/SF
NOI
$13.6K $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%
$272,420
Cap Rate 7%
$194,586
Cap Rate 9%
$151,344
Alternative Uses
Best Use
Multifamily LT 5
$194.6K
$170.3K – $227.0K
NOI $13,621 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$179.8K
$157.3K – $209.7K
NOI $12,584 @ 7.0% cap · market cap 7.77%
Theoretical Best
Specialty Retail
$269.3K
$235.6K – $314.2K
NOI $18,850 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,241
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 separate kitchens, living areas, and month-to-month tenant occupancy.
Where is this duplex located?
The property is located at 1208 JENNINGS ST Sioux City, IA.
What is the asking price?
The asking price for this property is $162,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,792 square feet, 4 bedrooms, and 2 bathrooms; Both units are tenant‑occupied under month‑to‑month leases; Separate kitchen and living area in each unit
