Nine-Building Duplex
For Sale
$315,000
1327 W 3rd St, Nevada, IA 50201
An 18-unit duplex portfolio spanning three Iowa communities, with varied layouts across the individual residences.
Property Size2,208 SF
Price / SF$142.66
Days on Market55
Property Features for 1327 W 3rd St
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$3,892
Building Details
Buildings
9
Listing Agency:
RE/MAX Precision
(515) 729-4735
Listed By:
Heather Schmidt
(515) 729-4735
Source:
Exprealty
Added: Jun 30
Changed: Aug 21
Last Checked: Aug 23 at 5:17AM
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.
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 = 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
$16,910
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
5.37%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - 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
