Duplex with Separate
New
For Sale
$180,000
1301 Morningside Ave, Sioux City, IA 51106
Two residential units offer distinct layouts and individually metered utilities for straightforward property management.
Property Size1,752 SF
Days on Market3
Property Features for 1301 Morningside Ave
General Information
Standard status
Active
Size
1,752 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Building Size
1,752 SF
Year Built
1900
Listing Agency:
NAI United
Listed By:
Aidan Vanderloo · License #IA #S73073000
(712) 577-1267
Source:
Naiunited
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 2 at 4:54PM
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 NAI United
Investment Insights
Based on property information with market context.
Built in 1900, this duplex includes one two-bedroom, one-bath residence and a separate one-bedroom, one-bath residence. Each unit has its own utilities, providing distinct service arrangements for the two households.
The property is located at 1301 Morningside Ave in Sioux City, Iowa, near restaurants, schools, and public transportation. Showings require 24-hour notice.
The property is located at 1301 Morningside Ave in Sioux City, Iowa, near restaurants, schools, and public transportation. Showings require 24-hour notice.
Key Highlights
- Two‑bedroom, one‑bath unit paired with a one‑bedroom, one‑bath unit
- Separate utilities serve each unit
- Duplex property built in 1900
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
$13,317
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
7.40%
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%
$266,340
$266.3K
Cap Rate 7%
$190,243
$190.2K
Cap Rate 9%
$147,967
$148.0K
Market Conditions
NOI Build-Up for 1,752 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
$20.0K $11.40/SF
− Vacancy
−$949 −$0.54/SF
EGI
$19.0K $10.86/SF
− OpEx
−$5.7K −$3.26/SF
NOI
$13.3K $7.60/SF
Area
Woodbury County, IA
Vacancy
4.75%
Lease Rate
$11.40 /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%
$266,340
Cap Rate 7%
$190,243
Cap Rate 9%
$147,967
Alternative Uses
Best Use
Multifamily LT 5
$190.2K
$166.5K – $222.0K
NOI $13,317 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$175.8K
$153.8K – $205.1K
NOI $12,303 @ 7.0% cap · market cap 6.83%
Theoretical Best
Specialty Retail
$263.3K
$230.4K – $307.2K
NOI $18,429 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
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 - Two residential units offer distinct layouts and individually metered utilities for straightforward property management.
Where is this duplex located?
The property is located at 1301 Morningside Ave Sioux City, IA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath unit paired with a one‑bedroom, one‑bath unit; Separate utilities serve each unit; Duplex property built in 1900
