18-Unit Duplex
For Sale
$295,000
102 E Walnut St, Roland, IA 50236
Nine buildings are located across Nevada, Roland, and Baxter, with varied residential layouts and rental-use flexibility.
Property Size2,400 SF
Price / SF$122.92
Days on Market43
Property Features for 102 E Walnut St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$4,104
Building Details
Buildings
9
Listing Agency:
RE/MAX Precision
(515) 729-4735
Listed By:
Heather Schmidt
(515) 729-4735
Source:
Exprealty
Added: Jun 30
Changed: Aug 10
Last Checked: Aug 10 at 8:50AM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
This duplex package comprises 18 residential units across 9 buildings. The residences include living areas and bedrooms, with individual layouts varying from one unit to another. The duplex configuration supports both owner occupancy and rental use, offering flexibility within a single package. The properties are located in Nevada, Roland, and Baxter, Iowa.
Key Highlights
- 18 residential units across 9 buildings
- Duplex configuration supports owner occupancy and rental use
- Properties located in Nevada, Roland, and Baxter, Iowa
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
$18,380
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
6.23%
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%
$367,600
$367.6K
Cap Rate 7%
$262,571
$262.6K
Cap Rate 9%
$204,222
$204.2K
Market Conditions
NOI Build-Up for 2,400 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
$27.6K $11.52/SF
− Vacancy
−$1.4K −$0.58/SF
EGI
$26.3K $10.94/SF
− OpEx
−$7.9K −$3.28/SF
NOI
$18.4K $7.66/SF
Area
Story County, IA
Vacancy
5.03%
Lease Rate
$11.52 /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%
$367,600
Cap Rate 7%
$262,571
Cap Rate 9%
$204,222
Alternative Uses
Best Use
Multifamily LT 5
$262.6K
$229.8K – $306.3K
NOI $18,380 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$229.3K
$200.6K – $267.5K
NOI $16,051 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$560.9K
$490.8K – $654.3K
NOI $39,260 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 50236, IA
1,634
Population
803
Households
2
Avg Household Size
38
Median Age
31%
College-Educated
98%
High-School Grad
34.0 sq mi
ZIP Area
48
Density / Sq Mi
$86,793
Median Household Income
$56,058
Median Earnings
$1,097
Median Rent
$185,900
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?
Duplex - Nine buildings are located across Nevada, Roland, and Baxter, with varied residential layouts and rental-use flexibility.
Where is this duplex located?
The property is located at 102 E Walnut St Roland, IA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 18 residential units across 9 buildings; Duplex configuration supports owner occupancy and rental use; Properties located in Nevada, Roland, and Baxter, Iowa
