Updated Four-Unit Residential
For Sale
$319,000
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
Price / SF$110.76
Days on Market78
Property Features for 2007 College St
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Vine Valley Real Estate
Listed By:
Emsad Begic · License #IOWA-B56539000
(319) 239-8663
Source:
Kwlegacyrealty
Added: Jul 21
Changed: Sep 12
Last Checked: Oct 5 at 9:49PM
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 / Yr
$26,313
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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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
