Two-Unit Residential
1328 E Davenport St, Iowa City, IA 52245
For Sale
$310,000
Separate kitchens serve the two apartments, with laundry and storage located in the basement.
Property Size1,616 SF
Lot Size0.15 Acres
Price / SF$191.83
Days on Market15
Property Features for 1328 E Davenport St
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
shared laundry
basement storage
fenced backyard
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Affinity Real Estate Services
Listed By:
Bryant Nicholson
(319) 853-3555
Source:
Blankandmccune
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 9 at 3:20PM
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 Affinity Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential duplex contains two apartments: an upper-floor unit with 2 bedrooms and 1 bathroom, and a lower-floor unit with 3 bedrooms and 1.5 bathrooms. Each has its own kitchen. Basement space provides shared laundry and additional storage. The property was built in 1900 and includes a fenced backyard on a 6,750-square-foot lot.
Both units are occupied, and the landlord covers utilities. The property is on E Davenport Street in Iowa City, minutes from downtown.
Both units are occupied, and the landlord covers utilities. The property is on E Davenport Street in Iowa City, minutes from downtown.
Key Highlights
- Two occupied apartments, with landlord‑paid utilities
- Upper unit has 2 bedrooms and 1 bathroom; lower unit has 3 bedrooms and 1.5 bathrooms
- Private kitchen in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,908
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,160
$298.2K
Cap Rate 7%
$212,971
$213.0K
Cap Rate 9%
$165,644
$165.6K
Market Conditions
NOI Build-Up for 1,616 SF
Gross rent
$22.3K $13.80/SF
− Vacancy
−$1.0K −$0.62/SF
EGI
$21.3K $13.18/SF
− OpEx
−$6.4K −$3.95/SF
NOI
$14.9K $9.23/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,160
Cap Rate 7%
$212,971
Cap Rate 9%
$165,644
Alternative Uses
Best Use
Multifamily LT 5
$213.0K
$186.4K – $248.5K
NOI $14,908 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$197.5K
$172.8K – $230.4K
NOI $13,823 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$351.1K
$307.2K – $409.6K
NOI $24,574 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Johnson County, IA
Properties on Market for Duplexes in Johnson County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate kitchens serve the two apartments, with laundry and storage located in the basement.
Where is this duplex located?
The property is located at 1328 E Davenport St Iowa City, IA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two occupied apartments, with landlord‑paid utilities; Upper unit has 2 bedrooms and 1 bathroom; lower unit has 3 bedrooms and 1.5 bathrooms; Private kitchen in each apartment
