Building Details

Year Built 2013

Buildings 9

Listing Agency: RE/MAX Precision

Listed By: Heather Schmidt (515) 729-4735 Show Phone

Source: Desmoineshomesforsale

Added: Apr 15 Changed: Oct 1 Last Checked: Oct 16 at 9:07AM

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Investment Insights

Based on property information with market context.

This duplex portfolio comprises 18 units across 9 buildings, with properties associated with Nevada, Roland, and Baxter, Iowa. The units were built in 2013 and provide residential layouts with living areas and bedrooms designed for everyday occupancy.

The offering includes a property at 106 E Walnut St in Roland, IA 50236, along with additional duplex buildings in the surrounding communities identified in the package. Interior finishes and layouts vary by unit, while the portfolio format provides multiple residential assets within one offering.

Key Highlights

• 18 residential units distributed among 9 duplex buildings
• Properties associated with Nevada, Roland, and Baxter, Iowa
• Buildings constructed in 2013

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,380

Cap Rate

6.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,600 $367.6K

Cap Rate 7%

$262,571 $262.6K

Cap Rate 9%

$204,222 $204.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

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 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 (±1% cap)

NOI $18,380 @ 7.0% cap · market cap 6.23%

Second Best

Apartment 5plus

$229.3K

$200.6K – $267.5K (±1% cap)

NOI $16,051 @ 7.0% cap · market cap 5.44%

Theoretical Best

Office A

$560.9K

$490.8K – $654.3K (±1% cap)

NOI $39,260 @ 7.0% cap · market cap 13.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Garden Center Bakery Kitchen & Bath Showroom Barber Shop Skin Care Clinic Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18

Residential units

Location Intelligence

Trade Area within ½ mile

67

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Portfolio includes multiple duplex buildings serving both owner-occupant and rental-use strategies.

Where is this duplex located?

The property is located at 106 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 distributed among 9 duplex buildings; Properties associated with Nevada, Roland, and Baxter, Iowa; Buildings constructed in 2013