Historic Quadplex with
For Sale
$385,000
507-509 Chestnut Street, Dubuque, IA 52001
Residential Income, Dubuque, IA
Property Size4,480 SF
Price / SF$85.94
Days on Market144
Property Features for 507-509 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RES
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 4, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 6
Parking features
On Street
Basement
Partial
Appliances
Refrigerator, Range, Dishwasher, Washer, Dryer
Subdivision
LOT 1,2W 14'3" OF 786 & ALL OF 787 A MCDANIELS SUB
Elementary school
Lincoln
Middle school
Washington Jr High
High school
Dubuque Senior
Standard status
Active
APN
1024378020 1024378019
Size
4,480 SF
Taxes and HOA fees
Tax Annual Amount
2978
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
balcony
Building Details
Year built
1860
Floors in Building
2
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
Ruhl & Ruhl Realtors
(563) 583-4550
Listed By:
Ann Williams
(563) 207-6770
Added: May 19
Changed: Oct 7
Last Checked: Oct 9 at 3:06PM
MLS# 154669
Copyright © 2026 East Central Iowa 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 4,480-square-foot brick quadplex contains four occupied units, each renovated while retaining original woodwork, exposed brick, and other historic architectural elements. Improvements include updated electrical systems, roofing, flooring, appliances, paint, windows, carpeting, and a balcony facing Chestnut Street. The property also includes refrigerators, ranges, dishwashers, washers, and dryers, with forced-air heating, window-unit cooling, a composition roof, and on-street parking.
Located in Dubuque’s 11th Street Historic District, the property is within walking distance of downtown, including the library, post office, farmers markets, restaurants, coffee shops, and entertainment venues. Loras College and major hospitals are also nearby. RES zoning and four occupied units support continued residential income use, while the preserved architectural character distinguishes the property from newer multifamily buildings.
Located in Dubuque’s 11th Street Historic District, the property is within walking distance of downtown, including the library, post office, farmers markets, restaurants, coffee shops, and entertainment venues. Loras College and major hospitals are also nearby. RES zoning and four occupied units support continued residential income use, while the preserved architectural character distinguishes the property from newer multifamily buildings.
Key Highlights
- 4,480‑square‑foot brick quadplex with four occupied units
- Renovated units retain original woodwork, exposed brick, and historic architectural details
- Updates include electrical systems, roofing, flooring, appliances, paint, windows, and carpeting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,062
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,240
$681.2K
Cap Rate 7%
$486,600
$486.6K
Cap Rate 9%
$378,467
$378.5K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$64.5K $14.40/SF
− Vacancy
−$2.6K −$0.58/SF
EGI
$61.9K $13.82/SF
− OpEx
−$27.9K −$6.22/SF
NOI
$34.1K $7.60/SF
Area
Dubuque County, IA
Vacancy
4.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,240
Cap Rate 7%
$486,600
Cap Rate 9%
$378,467
Alternative Uses
Best Use
Multifamily LT 5
$539.1K
$471.7K – $628.9K
NOI $37,735 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$486.6K
$425.8K – $567.7K
NOI $34,062 @ 7.0% cap · market cap 8.85%
Theoretical Best
Specialty Retail
$871.9K
$762.9K – $1.02M
NOI $61,030 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 52001, IA
43,572
Population
20,102
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
26.1 sq mi
ZIP Area
1,669
Density / Sq Mi
$60,882
Median Household Income
$35,571
Median Earnings
$916
Median Rent
$168,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Brick four-unit property with renovated occupied units, original architectural details, and walkable access to downtown Dubuque.
Where is this quadplex located?
The property is located at 507-509 Chestnut Street Dubuque, IA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 4,480‑square‑foot brick quadplex with four occupied units; Renovated units retain original woodwork, exposed brick, and historic architectural details; Updates include electrical systems, roofing, flooring, appliances, paint, windows, and carpeting
