Modified Duplex With Room
For Sale
$226,000
1532 D Ave NE A & B, Cedar Rapids, IA 52402
Upper and lower levels provide five rented rooms, shared common areas, and laundry facilities on each floor.
Property Size1,835 SF
Price / SF$123.16
Days on Market10
Property Features for 1532 D Ave NE A & B
General Information
Standard status
Active
Size
1,835 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Res
Net Operating Income
$38,376
Taxes and HOA fees
Annual Taxes
$3,149
Amenities
laundry
Crawl Space
Yes
Public
0.193
2
60 x 140
Parking Space(s)
Building Details
Year Built
1885
Listing Agency:
AWRE - Commercial & Development
(319) 551-6448
Listed By:
Cole Breitbach
(319) 551-6448
Source:
Pinnaclerealtyia
Added: Aug 13
Changed: Aug 22
Last Checked: Aug 22 at 3:51AM
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 AWRE - Commercial & Development
Investment Insights
Based on property information with market context.
This 1,835-square-foot duplex at 1532 D Ave NE A & B includes upper and lower living levels that were recently modified into five individually rented rooms with shared common areas. Month-to-month leases are in place, and the occupants are described as working professionals. Laundry facilities were added on both floors.
Property improvements include a new water heater, recently replaced sewer pipes and plumbing, and transferable furnace and AC tune-up service. The residence was built in 1885 and carries Res zoning. The parcel measures 0.193 acres with 60 x 140 dimensions and includes two parking spaces. The property is located in Cedar Rapids, Iowa.
Property improvements include a new water heater, recently replaced sewer pipes and plumbing, and transferable furnace and AC tune-up service. The residence was built in 1885 and carries Res zoning. The parcel measures 0.193 acres with 60 x 140 dimensions and includes two parking spaces. The property is located in Cedar Rapids, Iowa.
Key Highlights
- Duplex modified into 5 individually rented rooms with shared common spaces
- Laundry added on each floor
- New water heater
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
$16,035
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
7.10%
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%
$320,700
$320.7K
Cap Rate 7%
$229,071
$229.1K
Cap Rate 9%
$178,167
$178.2K
Market Conditions
NOI Build-Up for 1,835 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
$24.7K $13.44/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$22.9K $12.48/SF
− OpEx
−$6.9K −$3.74/SF
NOI
$16.0K $8.74/SF
Area
Cedar Rapids, IA
Vacancy
7.12%
Lease Rate
$13.44 /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%
$320,700
Cap Rate 7%
$229,071
Cap Rate 9%
$178,167
Alternative Uses
Best Use
Multifamily LT 5
$229.1K
$200.4K – $267.3K
NOI $16,035 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$211.3K
$184.9K – $246.5K
NOI $14,788 @ 7.0% cap · market cap 6.54%
Theoretical Best
Specialty Retail
$265.6K
$232.4K – $309.9K
NOI $18,591 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 52402, IA
42,072
Population
19,848
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,071
Density / Sq Mi
$71,319
Median Household Income
$41,753
Median Earnings
$992
Median Rent
$188,700
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 - Upper and lower levels provide five rented rooms, shared common areas, and laundry facilities on each floor.
Where is this duplex located?
The property is located at 1532 D Ave NE A & B Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $226,000.
What are key features of this property?
This property features: Duplex modified into 5 individually rented rooms with shared common spaces; Laundry added on each floor; New water heater
