Ranch-Style Duplex with
New
For Sale
$269,900
2410-2412 Evelyn Street, Perry, IA 50220
Residential, Duplex, Residential, Perry, IA
Property Size2,140 SF
Lot Size0.34 Acres
Price / SF$126.12
Days on Market1
Property Features for 2410-2412 Evelyn Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1
Parking features
Garage
Elementary school district
Perry
Middle school district
Perry
High school district
Perry
Directions
141 to Willis ave turn left on the 15th st to home
Subdivision
Perry
Standard status
Active
APN
0210481006
Size
2,140 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
HIGHVIEW ADD LOT 11, & 12 & S1/2 ALLEY ADJ ON N BLK 7
Tax Annual Amount
3610
Legal Description
HIGHVIEW ADD LOT 11, & 12 & S1/2 ALLEY ADJ ON N BLK 7
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1967
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Realty ONE Group Impact
(515) 446-7524
Listed By:
Zineta Imamovic
(515) 556-6854
Added: Sep 8
Last Checked: Sep 8 at 11:06PM
MLS# 748820
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. 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 1967 duplex contains 2,140 square feet across two ranch-style residential units. One unit has two bedrooms and one-and-a-half bathrooms, while the second includes two bedrooms and one bathroom. Both units include full basements, and the property has vinyl siding, forced-air natural gas heat, central air, and garage parking.
The duplex occupies a 0.34-acre corner lot at 2410-2412 Evelyn Street in Perry, Iowa. Public water and public sewer serve the property, and the zoning is R. One unit is occupied and the other is vacant, providing distinct existing and future occupancy positions within the same building.
The duplex occupies a 0.34-acre corner lot at 2410-2412 Evelyn Street in Perry, Iowa. Public water and public sewer serve the property, and the zoning is R. One unit is occupied and the other is vacant, providing distinct existing and future occupancy positions within the same building.
Key Highlights
- Two‑unit duplex with 2,140 square feet
- One 2‑bedroom, 1.5‑bath unit and one 2‑bedroom, 1‑bath unit
- Full basement included with 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
$19,329
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
7.16%
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%
$386,580
$386.6K
Cap Rate 7%
$276,129
$276.1K
Cap Rate 9%
$214,767
$214.8K
Market Conditions
NOI Build-Up for 2,140 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
$29.5K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.6K $12.90/SF
− OpEx
−$8.3K −$3.87/SF
NOI
$19.3K $9.03/SF
Area
Dallas County, IA
Vacancy
6.50%
Lease Rate
$13.80 /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%
$386,580
Cap Rate 7%
$276,129
Cap Rate 9%
$214,767
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,329 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$256.6K
$224.5K – $299.4K
NOI $17,961 @ 7.0% cap · market cap 6.65%
Theoretical Best
Flex RnD
$2.06M
$1.80M – $2.40M
NOI $144,202 @ 7.0% cap · market cap 53.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 50220, IA
9,045
Population
3,925
Households
2.3
Avg Household Size
37
Median Age
17%
College-Educated
87%
High-School Grad
100.5 sq mi
ZIP Area
90
Density / Sq Mi
$68,750
Median Household Income
$38,195
Median Earnings
$883
Median Rent
$146,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate layouts, including one occupied unit and one currently vacant unit.
Where is this duplex located?
The property is located at 2410-2412 Evelyn Street Perry, IA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,140 square feet; One 2‑bedroom, 1.5‑bath unit and one 2‑bedroom, 1‑bath unit; Full basement included with each unit
