Two-Unit
For Sale
Contact for pricing
15 S JOHNSON ST, Iowa City, IA 52245
1900-built two-unit duplex in Iowa City near downtown and the University of Iowa, totaling four bedrooms and two bathrooms.
Property Size1,792 SF
Lot Size0.07 Acres
Price / SF$195.31
Days on Market14
Property Features for 15 S JOHNSON ST
General Information
Standard status
Active
Size
1,792 SF
Lot size
0.07 Acres
Property subtype
Multifamily
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
WSG CRE
(319) 343-5542
Listed By:
Tiffany Earl Williams · License #IA s41864000
Source:
Crexi
Added: Jul 22
Changed: Jul 29
Last Checked: Aug 3 at 3:52PM
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 WSG CRE
Investment Insights
Based on property information with market context.
15 S Johnson St is a two-unit duplex investment property constructed in 1900. The building contains two residential units with a total of four bedrooms and two bathrooms across 1,792 square feet. The property sits on a 0.074-acre lot.
Located near downtown Iowa City and the University of Iowa campus, the duplex offers convenient access to the University of Iowa, University of Iowa Health Care, downtown amenities, and major employment centers.
For underwriting purposes, the offering reflects a 6.20% cap rate based on a proforma NOI. With its compact, established in-town setting and proximity to core demand drivers, the property is positioned for rental-oriented ownership in Iowa City.
Located near downtown Iowa City and the University of Iowa campus, the duplex offers convenient access to the University of Iowa, University of Iowa Health Care, downtown amenities, and major employment centers.
For underwriting purposes, the offering reflects a 6.20% cap rate based on a proforma NOI. With its compact, established in-town setting and proximity to core demand drivers, the property is positioned for rental-oriented ownership in Iowa City.
Key Highlights
- Two residential units in a single duplex building
- Constructed in 1900
- 1,792 square feet total living area
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.7k | $13.80 |
| − Vacancy | −$1.1k | −$0.62 |
| EGI | $23.6k | $13.18 |
| − OpEx | −$7.1k | −$3.95 |
| NOI | $16.5k | $9.23 |
1,792 SF · lease $13.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.2K
$206.7K – $275.5K
NOI $16,532 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$219.0K
$191.6K – $255.5K
NOI $15,328 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$389.3K
$340.6K – $454.2K
NOI $27,250 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,368
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
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 - 1900-built two-unit duplex in Iowa City near downtown and the University of Iowa, totaling four bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 15 S JOHNSON ST Iowa City, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two residential units in a single duplex building; Constructed in 1900; 1,792 square feet total living area
