Four-Unit R3 Apartment
For Sale
$335,000
1004 Oneida Av, Davenport, IA 52803
Historic multifamily asset with vinyl interiors and paved exterior improvements.
Property Size3,804 SF
Price / SF$88.07
Days on Market91
Property Features for 1004 Oneida Av
General Information
Standard status
Active
Size
3,804 SF
Property subtype
Commercial
Zoning
R3
Additional Details
Gross Income
$45,600
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,748
Amenities
Vinyl
149 x 80
0.27
Paved
Building Details
Year Built
1900
Listing Agency:
Burke Real Estate
(319) 329-0619
Listed By:
Sara Kruse
(319) 329-0619
Source:
Pinnaclerealtyia
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 1:16PM
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 Burke Real Estate
Investment Insights
Based on property information with market context.
This quadplex at 1004 Oneida Av in Davenport contains 3,804 square feet across four residential units. The property was built in 1900 and includes vinyl interior finishes. R3 zoning supports its multifamily classification, while the parcel measures 0.27 acres with dimensions of 149 x 80.
The property has a paved exterior surface and is located in Davenport, Iowa, within ZIP code 52803. Its established construction date, four-unit layout, and existing multifamily zoning define the asset’s current configuration.
The property has a paved exterior surface and is located in Davenport, Iowa, within ZIP code 52803. Its established construction date, four-unit layout, and existing multifamily zoning define the asset’s current configuration.
Key Highlights
- Four‑unit quadplex with 3,804 square feet
- R3 zoning for multifamily use
- Built in 1900
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
$30,587
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
9.13%
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%
$611,740
$611.7K
Cap Rate 7%
$436,957
$437.0K
Cap Rate 9%
$339,856
$339.9K
Market Conditions
NOI Build-Up for 3,804 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
$59.8K $15.72/SF
− Vacancy
−$4.2K −$1.10/SF
EGI
$55.6K $14.62/SF
− OpEx
−$25.0K −$6.58/SF
NOI
$30.6K $8.04/SF
Area
Davenport, IA
Vacancy
7.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$611,740
Cap Rate 7%
$436,957
Cap Rate 9%
$339,856
Alternative Uses
Best Use
Multifamily LT 5
$485.6K
$424.9K – $566.5K
NOI $33,991 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$437.0K
$382.3K – $509.8K
NOI $30,587 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$821.0K
$718.4K – $957.9K
NOI $57,473 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 52803, IA
22,896
Population
10,427
Households
2.2
Avg Household Size
34
Median Age
35%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
4,489
Density / Sq Mi
$61,082
Median Household Income
$32,163
Median Earnings
$871
Median Rent
$157,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic multifamily asset with vinyl interiors and paved exterior improvements.
Where is this quadplex located?
The property is located at 1004 Oneida Av Davenport, IA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,804 square feet; R3 zoning for multifamily use; Built in 1900
