Two-Unit Frame
For Sale
$180,000
537 8th Avenue, Marion, IA 52302
Multi-Family, Marion, IA
Property Size1,683 SF
Price / SF$106.95
Days on Market85
Property Features for 537 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2
Elementary school
Parkview
Middle school
Vernon
High school
Marion
Directions
Take 10th ave east in marion, turn left onto 4th st, turn right onto 8th, duplex is on the right.
Subdivision
Marion
Standard status
Active
APN
140113100500000
Size
1,683 SF
Taxes and HOA fees
Tax Description
N1/2 Lot 7 in Lot 8 Irr
Tax Annual Amount
1747
Legal Description
N1/2 Lot 7 in Lot 8 Irr
Building Details
Year built
1900
Number of units
2
Building materials
Frame
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Chris Puckett
(319) 367-8760
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 31 at 10:06AM
MLS# 2604085
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 two-unit duplex contains 1,683 square feet within a frame structure built in 1900. The lower residence offers two bedrooms and one bathroom, while the upper residence provides the same bedroom and bath configuration. The property’s two-level arrangement supports separate residential occupancy within a compact multifamily asset.
Located at 537 8th Avenue in Marion, Iowa, the property is near shopping, dining, schools, and other local amenities. The listing also identifies a history of positive cash flow and dependable rental income, providing documented income-producing use for the property.
Located at 537 8th Avenue in Marion, Iowa, the property is near shopping, dining, schools, and other local amenities. The listing also identifies a history of positive cash flow and dependable rental income, providing documented income-producing use for the property.
Key Highlights
- Two‑unit duplex with 1,683 square feet
- Each residence includes 2 bedrooms and 1 bathroom
- Lower and upper residential levels
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
$13,393
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
7.44%
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%
$267,860
$267.9K
Cap Rate 7%
$191,329
$191.3K
Cap Rate 9%
$148,811
$148.8K
Market Conditions
NOI Build-Up for 1,683 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
$20.6K $12.24/SF
− Vacancy
−$1.5K −$0.87/SF
EGI
$19.1K $11.37/SF
− OpEx
−$5.7K −$3.41/SF
NOI
$13.4K $7.96/SF
Area
Linn County, IA
Vacancy
7.12%
Lease Rate
$12.24 /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%
$267,860
Cap Rate 7%
$191,329
Cap Rate 9%
$148,811
Alternative Uses
Best Use
Multifamily LT 5
$191.3K
$167.4K – $223.2K
NOI $13,393 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$165.9K
$145.1K – $193.5K
NOI $11,610 @ 7.0% cap · market cap 6.45%
Theoretical Best
Self Storage
$283.2K
$247.8K – $330.5K
NOI $19,827 @ 7.0% cap · market cap 11.02%
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
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 52302, IA
43,130
Population
18,153
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
580
Density / Sq Mi
$87,463
Median Household Income
$50,234
Median Earnings
$963
Median Rent
$232,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential income property with matching two-bedroom, one-bath layouts and proximity to local shopping, dining, and schools.
Where is this duplex located?
The property is located at 537 8th Avenue Marion, IA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,683 square feet; Each residence includes 2 bedrooms and 1 bathroom; Lower and upper residential levels
