Building Details

Year Built 1987

Listing Agency: Keller Williams Realty GDM

Listed By: Beth Ernst Show Phone

Source: Desmoineshomesforsale

Added: Jul 5 Changed: Oct 1 Last Checked: Oct 7 at 12:37PM

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Investment Insights

Based on property information with market context.

This duplex contains 1,800 square feet across two residential units. Each unit provides two bedrooms, one full bathroom, an open living area, and a renovated kitchen. In-unit laundry is included in both residences, while recent work has refreshed the interiors and major building systems.

Property improvements include a new roof installed in 2026, HVAC systems updated in 2023 and 2025, and a fully replaced electrical system in unit 1202 completed in 2025. The property is located at 1200 Laurel St in Dallas Center, Iowa, with access to local amenities and major commuting routes.

Key Highlights

• Two‑unit duplex totaling 1,800 square feet
• Each unit includes 2 bedrooms and 1 full bathroom
• Updated kitchens with open‑concept living areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,258

Cap Rate

6.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$325,160 $325.2K

Cap Rate 7%

$232,257 $232.3K

Cap Rate 9%

$180,644 $180.6K

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$24.8K $13.80/SF

− Vacancy

−$1.6K −$0.90/SF

EGI

$23.2K $12.90/SF

− OpEx

−$7.0K −$3.87/SF

NOI

$16.3K $9.03/SF

Area

Dallas County, IA

Vacancy

6.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$325,160

Cap Rate 7%

$232,257

Cap Rate 9%

$180,644

Alternative Uses

Best Use

Multifamily LT 5

$232.3K

$203.2K – $271.0K (±1% cap)

NOI $16,258 @ 7.0% cap · market cap 6.51%

Second Best

Apartment 5plus

$215.8K

$188.9K – $251.8K (±1% cap)

NOI $15,108 @ 7.0% cap · market cap 6.05%

Theoretical Best

Flex RnD

$1.73M

$1.52M – $2.02M (±1% cap)

NOI $121,291 @ 7.0% cap · market cap 48.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Hair Salon Plumbing Service (Bike/Boat/Book/etc) Store Pharmacy Big Box & Wholesale Store

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

2

Residential units

Location Intelligence

Trade Area within ½ mile

127

Businesses Nearby

Explore this area Business Placement

Demographics for 50063, IA

2,900

Population

1,134

Households

2.6

Avg Household Size

41

Median Age

30%

College-Educated

96%

High-School Grad

66.2 sq mi

ZIP Area

44

Density / Sq Mi

$110,046

Median Household Income

$56,367

Median Earnings

$1,023

Median Rent

$262,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer updated kitchens, open living areas, and individual laundry for practical everyday use.

Where is this duplex located?

The property is located at 1200 Laurel St Dallas Center, IA.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: Two‑unit duplex totaling 1,800 square feet; Each unit includes 2 bedrooms and 1 full bathroom; Updated kitchens with open‑concept living areas