Updated Multi-Family
100 West Spring Street Eldridge, IA 52748
100 West Spring Street, Eldridge, IA, 52748
$347,000
Pending
For Sale
$347,000
Pending
Well-maintained duplex with two-bedroom, one-bath units and updated exterior systems plus in-unit washer/dryer hook-ups.
Property Size3,328 SF
Days on Market24
Property Features for 100 West Spring Street
General Information
- Standard status
- Pending
- Size
- 3,328 SF
- Property subtype
- Two to Four Units / 2 Story Unit/S
Building Details
- Year Built
- 1968
Listing agency
Mel Foster Co. Davenport
(563) 508-7644
Listed by
Amy Karnavas · License #S55630000
(563) 508-7644
Source
Compass
Added: Jun 29 Updated: Jul 21 at 3:45PM Checked: Jul 21 at 3:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mel Foster Co. Davenport
Investment Insights
Based on property information with market context.
This updated multi-family duplex features spacious layouts with 2 bedrooms and 1 bathroom in each unit. Improvements include a newer roof, updated siding, newer central A/C units, newer furnaces, and a selection of updated windows. Each unit also has dedicated washer and dryer hook-ups, and Unit 116 includes a newly updated kitchen.
The property is conveniently situated with easy access to commuter routes, dining options, retail centers, and local schools. A walking and riding path is located directly across the street, providing immediate outdoor access.
As a turn-key, income-oriented asset, the duplex is positioned for ongoing low-maintenance ownership supported by the recent capital improvements described above.
The property is conveniently situated with easy access to commuter routes, dining options, retail centers, and local schools. A walking and riding path is located directly across the street, providing immediate outdoor access.
As a turn-key, income-oriented asset, the duplex is positioned for ongoing low-maintenance ownership supported by the recent capital improvements described above.
Key Highlights
- Well‑maintained multi‑family property built in 1968 with 2‑bedroom, 1‑bath units
- Each unit includes dedicated washer/dryer hook‑ups
- Recent exterior updates include a newer roof and updated siding
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 | $45.9k | $13.80 |
| − Vacancy | −$2.3k | −$0.69 |
| EGI | $43.6k | $13.11 |
| − OpEx | −$13.1k | −$3.93 |
| NOI | $30.5k | $9.17 |
3,328 SF · lease $13.80/SF/yr · vacancy 5.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$436.2K
$381.6K – $508.9K
NOI $30,531 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$401.2K
$351.0K – $468.0K
NOI $28,081 @ 7.0% cap · market cap 8.09%
Theoretical Best
Industrial
$2.70M
$2.37M – $3.15M
NOI $189,290 @ 7.0% cap · market cap 54.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained duplex with two-bedroom, one-bath units and updated exterior systems plus in-unit washer/dryer hook-ups.
Where is this duplex located?
The property is located at 100 West Spring Street Eldridge, IA.
What is the asking price?
The asking price for this property is $347,000.
What are key features of this property?
This property features: Well‑maintained multi‑family property built in 1968 with 2‑bedroom, 1‑bath units; Each unit includes dedicated washer/dryer hook‑ups; Recent exterior updates include a newer roof and updated siding
