Up-Down Duplex Income
For Sale
$165,000
721 Olive St, Cedar Falls, IA 50613
Duplex for sale featuring two one-bedroom, one-bath units arranged as an up-down layout.
Property Size1,392 SF
Price / SF$118.53
Days on Market28
Property Features for 721 Olive St
General Information
Standard status
Active
Size
1,392 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Stories
2
Tenancy
Multi
Listing Agency:
Structure Real Estate
(319) 239-7805
Listed By:
Bobby Kastli, Jr · License #S63615000
Source:
Kwlegacyrealty
Added: Jul 21
Changed: Aug 13
Last Checked: Aug 16 at 9:51AM
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 Structure Real Estate
Investment Insights
Based on property information with market context.
This up-down duplex contains two separate one-bedroom, one-bath units. The main floor unit includes one bedroom and one bath, while the upstairs unit provides an additional one bedroom and one bath. The property is described as fully occupied.
Located at 721 Olive St in Cedar Falls, IA, the duplex offers a straightforward two-unit residential income configuration.
Each unit follows the same one-bedroom, one-bath layout, supporting a simple, repeatable living plan across both floors.
Located at 721 Olive St in Cedar Falls, IA, the duplex offers a straightforward two-unit residential income configuration.
Each unit follows the same one-bedroom, one-bath layout, supporting a simple, repeatable living plan across both floors.
Key Highlights
- Up‑down duplex with two one‑bedroom, one‑bath units
- Main‑floor unit offers 1 bed and 1 bath
- Upstairs unit offers 1 bed and 1 bath
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
$12,718
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
7.71%
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%
$254,360
$254.4K
Cap Rate 7%
$181,686
$181.7K
Cap Rate 9%
$141,311
$141.3K
Market Conditions
NOI Build-Up for 1,392 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
$19.2K $13.80/SF
− Vacancy
−$1.0K −$0.75/SF
EGI
$18.2K $13.05/SF
− OpEx
−$5.5K −$3.92/SF
NOI
$12.7K $9.14/SF
Area
Black Hawk County, IA
Vacancy
5.42%
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%
$254,360
Cap Rate 7%
$181,686
Cap Rate 9%
$141,311
Alternative Uses
Best Use
Multifamily LT 5
$181.7K
$159.0K – $212.0K
NOI $12,718 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$159.7K
$139.7K – $186.3K
NOI $11,176 @ 7.0% cap · market cap 6.77%
Theoretical Best
Mixed Use
$1.74M
$1.53M – $2.04M
NOI $122,148 @ 7.0% cap · market cap 74.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
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 - Duplex for sale featuring two one-bedroom, one-bath units arranged as an up-down layout.
Where is this duplex located?
The property is located at 721 Olive St Cedar Falls, IA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Up‑down duplex with two one‑bedroom, one‑bath units; Main‑floor unit offers 1 bed and 1 bath; Upstairs unit offers 1 bed and 1 bath
