Building Details

Year Built 1987

Listing Agency: Keller Williams Realty GDM b***@wentzrealtygroup.com Show Phone

Listed By: Beth Ernst

Source: Kwlegacyrealty

Added: Aug 14 Changed: Aug 24 Last Checked: Aug 25 at 9:01AM

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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 Keller Williams Realty GDM

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 = 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

$16,258

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

5.91%

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%

$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 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

$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 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%

$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 5.91%

Second Best

Apartment 5plus

$215.8K

$188.9K – $251.8K (±1% cap)

NOI $15,108 @ 7.0% cap · market cap 5.50%

Theoretical Best

Flex RnD

$1.73M

$1.52M – $2.02M (±1% cap)

NOI $121,291 @ 7.0% cap · market cap 44.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

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

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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 $274,900.

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