Two-Story Duplex
For Sale
$294,990
4735 172nd Street, Urbandale, IA 50323
Two-story duplex with four bedrooms, 2.5 baths, and an attached two-car garage.
Property Size1,767 SF
Price / SF$166.94
Days on Market1042
Property Features for 4735 172nd Street
General Information
Standard status
Active
Size
1,767 SF
Total Parking Spaces
2
Property subtype
Duplex
Amenities
fireplace
stainless steel appliances
walk-in pantry
center island
walk-in shower
dual sinks
walk-in closet
laundry room
Central Air, Gas
Unfinished Basement
3
Dishwasher, Microwave, Stove
Egress Window
Asphalt, Shingle
Deck
Deck.
2 Garage Spaces. Garage, 2 Car Garage.
Vinyl
Concrete Road.
Building Details
Year Built
2023
Stories
2
Listing Agency:
DRH Realty of Iowa, LLC
Listed By:
Kathryn Greer
(515) 605-7444
Source:
Xome
Added: Nov 2, 2023
Changed: Sep 2
Last Checked: Sep 8 at 3:38AM
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 DRH Realty of Iowa, LLC
Investment Insights
Based on property information with market context.
This two-story duplex features approximately 1,767 square feet of designed living space with four bedrooms and 2.5 baths. The main level offers an open-concept layout with a spacious living room, a kitchen with white cabinetry, stainless steel appliances, a walk-in pantry, and a large center island, along with a dining area. A guest bathroom and coat closet are also located on the main floor, with direct access to an attached two-car garage. Upstairs, the private primary suite is located at the rear and includes a walk-in shower, dual sinks, and a walk-in closet. Two additional bedrooms, a full bath, and a centrally positioned laundry room complete the second level.
The property is located at 4735 172nd Street in Urbandale, Iowa.
The property is located at 4735 172nd Street in Urbandale, Iowa.
Key Highlights
- 2023‑built two‑story duplex with 1,767 sq. ft., 4 bedrooms, and 2.5 baths
- Kitchen features stainless steel appliances, walk‑in pantry, and a large center island
- Primary suite includes a walk‑in shower, dual sinks, and a walk‑in closet
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
$15,676
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
5.31%
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%
$313,520
$313.5K
Cap Rate 7%
$223,943
$223.9K
Cap Rate 9%
$174,178
$174.2K
Market Conditions
NOI Build-Up for 1,767 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
$23.7K $13.44/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$22.4K $12.67/SF
− OpEx
−$6.7K −$3.80/SF
NOI
$15.7K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
Lease Rate
$13.44 /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%
$313,520
Cap Rate 7%
$223,943
Cap Rate 9%
$174,178
Alternative Uses
Best Use
Multifamily LT 5
$223.9K
$196.0K – $261.3K
NOI $15,676 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$195.8K
$171.3K – $228.4K
NOI $13,703 @ 7.0% cap · market cap 4.65%
Theoretical Best
Flex RnD
$1.70M
$1.49M – $1.98M
NOI $119,068 @ 7.0% cap · market cap 40.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 50323, IA
16,616
Population
5,965
Households
2.8
Avg Household Size
37
Median Age
67%
College-Educated
98%
High-School Grad
10.1 sq mi
ZIP Area
1,645
Density / Sq Mi
$173,659
Median Household Income
$83,776
Median Earnings
$1,479
Median Rent
$456,600
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 - Two-story duplex with four bedrooms, 2.5 baths, and an attached two-car garage.
Where is this duplex located?
The property is located at 4735 172nd Street Urbandale, IA.
What is the asking price?
The asking price for this property is $294,990.
What are key features of this property?
This property features: 2023‑built two‑story duplex with 1,767 sq. ft., 4 bedrooms, and 2.5 baths; Kitchen features stainless steel appliances, walk‑in pantry, and a large center island; Primary suite includes a walk‑in shower, dual sinks, and a walk‑in closet
