Turn-of-Century Duplex
1990 8th Avenue Marion, IA 52302
1990 8th Avenue, Marion, IA, 52302
$230,000
For Sale
$230,000
MULTI_FAMILY - Marion, IA
Property Size2,796 SF
Lot Size0.20 Acres
Price / SF$82.26
Days on Market111
Property Features for 1990 8th Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RES
- Bedrooms
- 6
- Rooms
- Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 3
- Parking
- 4
- Standard status
- Active
- APN
- 150620600700000
- Size
- 2,796 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- Daniels 1st S20' LOT 1 & ALL or as per abstract
- Tax Annual Amount
- 3640
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Frame
Listing agency
Pinnacle Realty LLC
(319) 393-0900
Listed by
Star Horak
(319) 350-9476
Added: Apr 2 Updated: Jul 11 at 3:35AM Checked: Jul 21 at 7:06AM
MLS# 2602274
Copyright © 2026 Cedar Rapids Area Association 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 turn-of-the-century duplex is configured as two separate residences, with an upper and a lower unit. Each unit provides three bedrooms and one bathroom, supporting a practical layout for a range of tenant households. The property is presented as a turnkey option with tenants already in place. Lot size is listed at 0.204 acres, and the building size is listed at 2,796 square feet.
The property is located at 1990 8th Avenue in Marion, Iowa, within the heart of Marion’s historic district. It is described as being conveniently positioned near uptown Marion, local shops, and community amenities.
For investors or owner-operators seeking immediate rental operations, the two-unit setup offers straightforward management as both units share the same bedroom and bathroom configuration. Prospective buyers should note that a 24-hour notice is required for showings, consistent with tenant rights.
The property is located at 1990 8th Avenue in Marion, Iowa, within the heart of Marion’s historic district. It is described as being conveniently positioned near uptown Marion, local shops, and community amenities.
For investors or owner-operators seeking immediate rental operations, the two-unit setup offers straightforward management as both units share the same bedroom and bathroom configuration. Prospective buyers should note that a 24-hour notice is required for showings, consistent with tenant rights.
Key Highlights
- Turn‑of‑the‑century duplex built in 1900 with frame construction
- Duplex layout with two units: each unit has 3 bedrooms and 1 bathroom
- Tenants are already in place for immediate rental income
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.9k | $13.56 |
| − Vacancy | −$2.8k | −$1.02 |
| EGI | $35.1k | $12.54 |
| − OpEx | −$15.8k | −$5.64 |
| NOI | $19.3k | $6.90 |
2,796 SF · lease $13.56/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$317.9K
$278.1K – $370.8K
NOI $22,250 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$275.6K
$241.1K – $321.5K
NOI $19,289 @ 7.0% cap · market cap 8.39%
Theoretical Best
Self Storage
$470.6K
$411.8K – $549.0K
NOI $32,940 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Historic duplex with two separate 3-bedroom, 1-bath units in Marion, IA, offering turnkey income with tenants in place.
Where is this duplex located?
The property is located at 1990 8th Avenue Marion, IA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Turn‑of‑the‑century duplex built in 1900 with frame construction; Duplex layout with two units: each unit has 3 bedrooms and 1 bathroom; Tenants are already in place for immediate rental income
