Duplex Property with
For Sale
$315,000
1319 W 3rd Street, Nevada, IA 50201
MultiFamily, Nevada, IA
Property Size2,208 SF
Price / SF$142.66
Days on Market100
Property Features for 1319 W 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1
Parking features
Garage
Elementary school district
Nevada
Middle school district
Nevada
High school district
Nevada
Directions
US 30 East-turn left on W18th St- Turn right onto Co Rd E41- Turn left onto W 3rd St /620 Ave.
Subdivision
Nevada
Standard status
Active
APN
1106360250
Size
2,208 SF
Taxes and HOA fees
Tax Description
WEST PARK ADD PARCEL E LOTS 53 54 55 SLIDE 401 PG 1
Tax Annual Amount
3790
Legal Description
WEST PARK ADD PARCEL E LOTS 53 54 55 SLIDE 401 PG 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2011
Floors in Building
1
Number of units
2
Roof type
Asphalt, Shingle
Architectural style
Ranch
Listing Agency:
RE/MAX Precision · RE/MAX International
(515) 223-9492
Listed By:
Heather Schmidt
(515) 729-4735
Added: Jun 30
Changed: Sep 13
Last Checked: Oct 7 at 6:06PM
MLS# 744185
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offering comprises an investor package of 18 units across 9 buildings, with properties identified in Nevada, Roland, and Baxter. The buildings feature ranch-style layouts, spacious living areas, bedrooms, bathrooms, central air, and a combination of forced-air, natural gas, and electric heating. One listed property contains 2,208 square feet and was built in 2011.
Garage parking is provided, while public water and public sewer serve the properties. Shingle and asphalt roofing are reported, and the listed property is zoned R. Showing requests require 48 hours’ notice, and proof of funds is required.
Garage parking is provided, while public water and public sewer serve the properties. Shingle and asphalt roofing are reported, and the listed property is zoned R. Showing requests require 48 hours’ notice, and proof of funds is required.
Key Highlights
- Investor package includes 18 units across 9 buildings
- Properties identified in Nevada, Roland, and Baxter
- One listed property contains 2,208 square feet and was built in 2011
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,910
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,200
$338.2K
Cap Rate 7%
$241,571
$241.6K
Cap Rate 9%
$187,889
$187.9K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$25.4K $11.52/SF
− Vacancy
−$1.3K −$0.58/SF
EGI
$24.2K $10.94/SF
− OpEx
−$7.2K −$3.28/SF
NOI
$16.9K $7.66/SF
Area
Story County, IA
Vacancy
5.03%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,200
Cap Rate 7%
$241,571
Cap Rate 9%
$187,889
Alternative Uses
Best Use
Multifamily LT 5
$241.6K
$211.4K – $281.8K
NOI $16,910 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$210.9K
$184.6K – $246.1K
NOI $14,766 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$516.0K
$451.5K – $602.0K
NOI $36,119 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 50201, IA
8,427
Population
3,806
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
94%
High-School Grad
117.3 sq mi
ZIP Area
72
Density / Sq Mi
$81,989
Median Household Income
$45,960
Median Earnings
$908
Median Rent
$186,500
Median Home Value
Check the figures for this property
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?
Duplex - Ranch-style duplexes with central air, public utilities, and garage parking across a multi-property package.
Where is this duplex located?
The property is located at 1319 W 3rd Street Nevada, IA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Investor package includes 18 units across 9 buildings; Properties identified in Nevada, Roland, and Baxter; One listed property contains 2,208 square feet and was built in 2011
