Building Details

Year Built 2011

Buildings 9

Listing Agency: RE/MAX Precision

Listed By: Heather Schmidt (515) 729-4735 Show Phone

Source: Centraliowahomesearch

Added: Apr 15 Changed: Oct 1 Last Checked: Oct 7 at 12:56PM

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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 RE/MAX Precision

Investment Insights

Based on property information with market context.

This residential income portfolio includes 18 units arranged across nine duplex buildings. The individual residences offer varying layouts, with unit differences reflected in the representative interior photography. The portfolio is distributed among Nevada, Roland, and Baxter, Iowa, providing a multi-property configuration across three communities.

The property information identifies 2,208 as the property size. Showings require proof of funds before scheduling. The offering includes the address at 1327 W 3rd St in Nevada as part of the reported portfolio information.

Key Highlights

• 18 units across 9 duplex buildings
• Portfolio locations include Nevada, Roland, and Baxter, Iowa
• Individual units vary in layout and interior finish

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 (±1% cap)

NOI $16,910 @ 7.0% cap · market cap 5.37%

Second Best

Apartment 5plus

$210.9K

$184.6K – $246.1K (±1% cap)

NOI $14,766 @ 7.0% cap · market cap 4.69%

Theoretical Best

Office A

$516.0K

$451.5K – $602.0K (±1% cap)

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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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Real Estate Agency Auto Parts Store Big Box & Wholesale Store Electrical Service Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Duplex Property with Garages

1319 W 3rd Street, Nevada, IA 50201

$315,000

2,208 SF

View details

Apartment Building with Renovated Kitchens

1521 S G Ave, Nevada, IA 50201

$2,100,000

16,594 SF

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Flex Space with Individual Units

1436 W F Avenue, Nevada, IA 50201

$2,525,000

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Frequently Asked Questions

What type of property is this?

Duplex - An 18-unit duplex portfolio spanning three Iowa communities, with varied layouts across the individual residences.

Where is this duplex located?

The property is located at 1327 W 3rd St 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: 18 units across 9 duplex buildings; Portfolio locations include Nevada, Roland, and Baxter, Iowa; Individual units vary in layout and interior finish