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    Marion Duplex: Investor Opportunity Title is generated by Realmo AI

    535 8th Avenue, Marion, IA 52302

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    Claim this Listing
    For Sale
    $154,900

    MULTI_FAMILY - Marion, IA

    Property size:
    1,600 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $96/SF
    Added:
    Feb 20, 2026
    Days on Market:
    105
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 535 8th Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Com/Res
    Bedrooms
    3
    Rooms
    Bedroom 3, Bedroom 2, Bedroom 1
    Parking
    3
    Standard status
    Active
    APN
    14-01-1-31-006-0-0000
    Size
    1,600 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Description
    N1/2 LOT 8 IN LOT 8 IRR SUR NE
    Tax Annual Amount
    2077

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Frame

    We can help!

    Listing Contact
    Stacey Dlouhy

    Listing agent Stacey Dlouhy

    Listing office Keller Williams Legacy Group 4850 Armar Dr SE Ste B, Cedar Rapids, IA

    Listing date Feb 20, 2026

    MLS# 2601194 Listing URL

    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.

    HighLights

    • Immediate income potential from two occupied units with long‑term tenants.
    • Recent rental permit inspection ensures compliance.
    • Low‑maintenance property with tenants responsible for snow removal and lawn care.
    • Separately metered utilities simplify expense management.
    • Recent exterior improvements: newer roof, fresh paint, and improved driveway.
    • Convenient location near Marion amenities.

    Overview

    This well-maintained up/down duplex in Marion presents an investor opportunity with immediate income potential. The property features a 2-bedroom, 1-bathroom lower unit and a 1-bedroom, 1-bathroom upper unit, both occupied by long-term tenants. A recent rental permit inspection ensures a smooth and compliant transition for the next owner. Most utilities are separately metered and paid by tenants, supporting simplified expense management. Exterior improvements include a newer roof (post-deracho repair), fresh scraping and paint, and a newly improved gravel driveway with off-street parking in the rear. The shared furnace is functional, with heat controlled by the lower unit. Tenants also handle snow and lawn care, reducing owner responsibilities. The property is located near all that Marion has to offer. The lot size is 0.172 acres. The property size is 1600 square feet. The zoning is Com/Res. It is a solid, low-maintenance addition to any rental portfolio with stable occupancy and operational ease.

    Local Financial Insights For Multifamily LT 5

    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 $19.6k $12.24
    − Vacancy −$1.4k −$0.87
    EGI $18.2k $11.37
    − OpEx −$5.5k −$3.41
    NOI $12.7k $7.96
    1,600 SF · lease $12.24/SF/yr · vacancy 7.12% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $181.9K
    $159.2K – $212.2K (±1% cap)
    NOI $12,733 @ 7.0% cap · market cap 8.22%
    Second Best
    Apartment 5plus
    $157.7K
    $138.0K – $184.0K (±1% cap)
    NOI $11,038 @ 7.0% cap · market cap 7.13%
    Theoretical Best
    Self Storage
    $269.3K
    $235.6K – $314.2K (±1% cap)
    NOI $18,850 @ 7.0% cap · market cap 12.17%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.605302
    Latitude
    42.033943

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    FAQs

    What type of property is this?
    Duplex - Well-maintained Marion duplex with immediate income potential and long-term tenants.
    Where is this duplex located?
    The property is located at 535 8th Avenue Marion, IA.
    What is the asking price?
    The asking price for this property is $154,900.
    What are key features of this property?
    This property features: Immediate income potential from two occupied units with long‑term tenants.; Recent rental permit inspection ensures compliance.; Low‑maintenance property with tenants responsible for snow removal and lawn care.
    (319) 423-4139
    We can help!
    Listing Contact
    Stacey Dlouhy
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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