Historic Four-Unit
For Sale
$385,000
507-509 Chestnut St, Dubuque, IA 52001
Renovated four-unit income property with preserved architectural details and an upper balcony overlooking Chestnut Street.
Property Size4,480 SF
Price / SF$85.94
Days on Market30
Property Features for 507-509 Chestnut St
General Information
Standard status
Active
Size
4,480 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
4
Amenities
upper balcony
Building Details
Year Built
1860
Listing Agency:
Ruhl & Ruhl Realtors
Listed By:
Ann Williams
(563) 207-6770
Source:
Kwlegacyrealty
Added: Sep 10
Changed: Oct 1
Last Checked: Oct 7 at 5:19PM
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 Ruhl & Ruhl Realtors
Investment Insights
Based on property information with market context.
This 4,480-square-foot quadplex contains four occupied units in a historic building within Dubuque’s 11th Street Historic District. Interior character includes original woodwork, exposed brick, and other period details, while the property has received updates to electrical systems, roofing, flooring, appliances, paint, windows, and carpeting. An upper balcony adds outdoor space overlooking Chestnut Street.
The property is located at 507-509 Chestnut St, within walking distance of downtown Dubuque, the library, post office, seasonal farmers markets, restaurants, coffee shops, and entertainment venues. Loras College and area hospitals are also nearby. The combination of four occupied units, updated building systems, and preserved historic features supports continued residential income use.
The property is located at 507-509 Chestnut St, within walking distance of downtown Dubuque, the library, post office, seasonal farmers markets, restaurants, coffee shops, and entertainment venues. Loras College and area hospitals are also nearby. The combination of four occupied units, updated building systems, and preserved historic features supports continued residential income use.
Key Highlights
- 4,480‑square‑foot quadplex with four occupied units
- Located in Dubuque’s 11th Street Historic District
- Original woodwork, exposed brick, and period architectural details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,062
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,240
$681.2K
Cap Rate 7%
$486,600
$486.6K
Cap Rate 9%
$378,467
$378.5K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$64.5K $14.40/SF
− Vacancy
−$2.6K −$0.58/SF
EGI
$61.9K $13.82/SF
− OpEx
−$27.9K −$6.22/SF
NOI
$34.1K $7.60/SF
Area
Dubuque County, IA
Vacancy
4.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,240
Cap Rate 7%
$486,600
Cap Rate 9%
$378,467
Alternative Uses
Best Use
Multifamily LT 5
$539.1K
$471.7K – $628.9K
NOI $37,735 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$486.6K
$425.8K – $567.7K
NOI $34,062 @ 7.0% cap · market cap 8.85%
Theoretical Best
Specialty Retail
$871.9K
$762.9K – $1.02M
NOI $61,030 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 52001, IA
43,572
Population
20,102
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
26.1 sq mi
ZIP Area
1,669
Density / Sq Mi
$60,882
Median Household Income
$35,571
Median Earnings
$916
Median Rent
$168,900
Median Home Value
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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?
Quadplex - Renovated four-unit income property with preserved architectural details and an upper balcony overlooking Chestnut Street.
Where is this quadplex located?
The property is located at 507-509 Chestnut St Dubuque, IA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 4,480‑square‑foot quadplex with four occupied units; Located in Dubuque’s 11th Street Historic District; Original woodwork, exposed brick, and period architectural details
