Victorian Triplex with
New
For Sale
$285,000
1024 18th Street, Marion, IA 52302
Three separate units support residential income use or a multigenerational living arrangement.
Property Size2,649 SF
Price / SF$107.59
Days on Market5
Property Features for 1024 18th Street
General Information
Standard status
Active
Size
2,649 SF
Property subtype
Commercial
Zoning
R
Taxes and HOA fees
Annual Taxes
$3,389
Amenities
Wood
Yes
2
No
Fenced
Building
Public
0.26
97.5x120
Building Details
Year Built
1890
Stories
2
Tenancy
Multi
Listing Agency:
Blank & McCune Real Estate
(319) 981-2889
Listed By:
Nicki Kramer
(319) 981-2889
Source:
Pinnaclerealtyia
Added: Jul 31
Changed: Aug 3
Last Checked: Aug 4 at 3:42AM
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 Blank & McCune Real Estate
Investment Insights
Based on property information with market context.
Built in 1890, this Victorian-style triplex contains 2649 square feet arranged as three residences: a two-bedroom main-floor unit, a one-bedroom second-floor apartment, and a second-floor efficiency. Interior character includes hardwood flooring, natural woodwork, original-style doors, and an elegant staircase. The property is zoned R and occupies a 0.26-acre lot measuring 97.5x120.
Exterior amenities include a two-stall garage reached from a shared driveway, an additional parking pad serving the main-floor apartment, fenced grounds, landscaped areas, and a private courtyard. The home is located in Marion near uptown dining, bars, shops, and other stores, with those destinations described as walkable from the property.
Exterior amenities include a two-stall garage reached from a shared driveway, an additional parking pad serving the main-floor apartment, fenced grounds, landscaped areas, and a private courtyard. The home is located in Marion near uptown dining, bars, shops, and other stores, with those destinations described as walkable from the property.
Key Highlights
- Three‑unit configuration: 2‑bedroom main‑floor unit, 1‑bedroom second‑floor apartment, and second‑floor efficiency
- 2649 SF Victorian‑style home built in 1890
- 0.26‑acre lot measuring 97.5x120
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 | $32.4k | $12.24 |
| − Vacancy | −$2.3k | −$0.87 |
| EGI | $30.1k | $11.37 |
| − OpEx | −$9.0k | −$3.41 |
| NOI | $21.1k | $7.96 |
2,649 SF · lease $12.24/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.2K
$263.5K – $351.4K
NOI $21,081 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$261.1K
$228.4K – $304.6K
NOI $18,275 @ 7.0% cap · market cap 6.41%
Theoretical Best
Self Storage
$445.8K
$390.1K – $520.1K
NOI $31,208 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
684
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate units support residential income use or a multigenerational living arrangement.
Where is this triplex located?
The property is located at 1024 18th Street Marion, IA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Three‑unit configuration: 2‑bedroom main‑floor unit, 1‑bedroom second‑floor apartment, and second‑floor efficiency; 2649 SF Victorian‑style home built in 1890; 0.26‑acre lot measuring 97.5x120
