18-Unit Duplex
For Sale
$315,000
1327 W 3rd Street, Nevada, IA 50201
MultiFamily, Nevada, IA
Property Size2,208 SF
Price / SF$142.66
Days on Market100
Property Features for 1327 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 3, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2
Elementary school district
Nevada
Middle school district
Nevada
High school district
Nevada
Directions
Take 30E- Turn left onton W 18th St, Turn right onto Co Rd E41, Turn left onto W 3rd St / 620th Ave.
Subdivision
Nevada
Standard status
Active
APN
1106360240
Size
2,208 SF
Taxes and HOA fees
Tax Description
WEST PARK ADD PARCEL C LOTS 53 54 55 SLIDE 401 PG 1
Tax Annual Amount
3892
Legal Description
WEST PARK ADD PARCEL C LOTS 53 54 55 SLIDE 401 PG 1
Building Details
Year built
2011
Floors in Building
1
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 10:06PM
MLS# 744178
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 portfolio includes 18 units distributed among nine buildings in Nevada, Roland, and Baxter, Iowa. The properties were built in 2011 and feature ranch-style architecture. Individual units vary in layout and finishes; representative interior photographs are similar across the portfolio but do not depict every residence.
The package includes an identified property at 1327 W 3rd Street in Nevada, Iowa, within the City of Nevada’s 50201 postal area. Zoning is designated R. The available property record identifies a 2,208-square-foot size for the referenced property, along with bedrooms and bathrooms among the documented rooms. Proof of funds is required before showings.
The package includes an identified property at 1327 W 3rd Street in Nevada, Iowa, within the City of Nevada’s 50201 postal area. Zoning is designated R. The available property record identifies a 2,208-square-foot size for the referenced property, along with bedrooms and bathrooms among the documented rooms. Proof of funds is required before showings.
Key Highlights
- 18 units distributed across 9 buildings
- Portfolio spans Nevada, Roland, and Baxter, Iowa
- Properties 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 duplex portfolio spanning three Iowa communities with 18 units across nine buildings.
Where is this duplex located?
The property is located at 1327 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: 18 units distributed across 9 buildings; Portfolio spans Nevada, Roland, and Baxter, Iowa; Properties built in 2011
