Three-Unit Apartment
For Sale
$250,000
510 2ND Street, Dewitt, IA 52742
Residential Income, De Witt, IA
Property Size2,087 SF
Lot Size0.20 Acres
Price / SF$119.79
Days on Market321
Property Features for 510 2ND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 4
Parking
2
Parking features
Garage
Lot features
Level
High school
Central Dewitt High School
Elementary school district
1082
Middle school district
1082
High school district
1082
Directions
Go East from 6th Avenue on 2nd Street, home on North side of the street
Subdivision
De Witt
Standard status
Active
APN
20-0789-0000
Size
2,087 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2272
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1890
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
NextHome QC Realty
(309) 302-0019
Listed By:
Brenda O'Neil · License #S64250000,PersonLicenseNumber
(309) 429-2669
Added: Nov 22, 2025
Changed: Oct 8
Last Checked: Oct 9 at 1:06PM
MLS# QC4269614
Copyright © 2026 Midwest Real Estate Data, LLC. 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 triplex contains three apartment units within a 2,087-square-foot building on a 0.2-acre parcel. The property was built in 1890 and has vinyl siding with an asphalt roof. Public water and sewer serve the building.
Each unit has one parking space, including one covered space. All three units are currently occupied.
Each unit has one parking space, including one covered space. All three units are currently occupied.
Key Highlights
- Three‑unit apartment property with all units currently occupied
- 2,087‑square‑foot building on a 0.2‑acre parcel
- One parking space, including one covered space, for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,417
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,340
$268.3K
Cap Rate 7%
$191,671
$191.7K
Cap Rate 9%
$149,078
$149.1K
Market Conditions
NOI Build-Up for 2,087 SF
Gross rent
$21.3K $10.20/SF
− Vacancy
−$2.1K −$1.02/SF
EGI
$19.2K $9.18/SF
− OpEx
−$5.8K −$2.76/SF
NOI
$13.4K $6.43/SF
Area
Clinton County, IA
Vacancy
9.96%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,340
Cap Rate 7%
$191,671
Cap Rate 9%
$149,078
Alternative Uses
Best Use
Multifamily LT 5
$191.7K
$167.7K – $223.6K
NOI $13,417 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$176.2K
$154.1K – $205.5K
NOI $12,331 @ 7.0% cap · market cap 4.93%
Theoretical Best
Specialty Retail
$306.9K
$268.5K – $358.1K
NOI $21,483 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 52742, IA
7,651
Population
3,077
Households
2.5
Avg Household Size
42
Median Age
32%
College-Educated
97%
High-School Grad
117.0 sq mi
ZIP Area
65
Density / Sq Mi
$92,500
Median Household Income
$50,536
Median Earnings
$933
Median Rent
$241,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - All three units are occupied, and each has one covered parking space.
Where is this triplex located?
The property is located at 510 2ND Street Dewitt, IA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three‑unit apartment property with all units currently occupied; 2,087‑square‑foot building on a 0.2‑acre parcel; One parking space, including one covered space, for each unit
