Updated Four-Unit Residential
For Sale
$319,000
Pending
2007 College St, Cedar Falls, IA 50613
Four updated units feature stainless appliances, new flooring, fresh paint, and exterior improvements including a new roof.
Property Size2,880 SF
Days on Market33
Property Features for 2007 College St
General Information
Standard status
Pending
Size
2,880 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Vine Valley Real Estate
(319) 239-8663
Listed By:
Emsad Begic · License #IOWA-B56539000
Source:
Kwlegacyrealty
Added: Jul 21
Changed: Aug 8
Last Checked: Aug 22 at 8:58AM
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 Vine Valley Real Estate
Investment Insights
Based on property information with market context.
This updated four-unit residential income property features modern interior improvements in each unit, including updated countertops, stainless steel appliances, new cabinetry, new flooring, and fresh paint. Large windows help bring in natural light, supporting a bright and open feel across the layouts. Exterior and common area updates include new siding, a new roof, paved parking, and newly carpeted shared hallways.
The property is located in the Cedar Falls area and is conveniently situated near UNI and a variety of dining, entertainment, and everyday amenities.
Dimensions are approximate.
The property is located in the Cedar Falls area and is conveniently situated near UNI and a variety of dining, entertainment, and everyday amenities.
Dimensions are approximate.
Key Highlights
- Updated four‑unit property built in 1920
- Each unit features updated countertops, stainless steel appliances, and new cabinetry
- Interior updates include new flooring and fresh paint, plus large windows for natural light
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
$26,313
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
8.25%
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%
$526,260
$526.3K
Cap Rate 7%
$375,900
$375.9K
Cap Rate 9%
$292,367
$292.4K
Market Conditions
NOI Build-Up for 2,880 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
$39.7K $13.80/SF
− Vacancy
−$2.2K −$0.75/SF
EGI
$37.6K $13.05/SF
− OpEx
−$11.3K −$3.92/SF
NOI
$26.3K $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%
$526,260
Cap Rate 7%
$375,900
Cap Rate 9%
$292,367
Alternative Uses
Best Use
Multifamily LT 5
$375.9K
$328.9K – $438.6K
NOI $26,313 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$330.3K
$289.0K – $385.4K
NOI $23,123 @ 7.0% cap · market cap 7.25%
Theoretical Best
Mixed Use
$3.61M
$3.16M – $4.21M
NOI $252,720 @ 7.0% cap · market cap 79.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
497
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?
Quadplex - Four updated units feature stainless appliances, new flooring, fresh paint, and exterior improvements including a new roof.
Where is this quadplex located?
The property is located at 2007 College St Cedar Falls, IA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Updated four‑unit property built in 1920; Each unit features updated countertops, stainless steel appliances, and new cabinetry; Interior updates include new flooring and fresh paint, plus large windows for natural light
