Updated Two-Unit
For Sale
$200,000
1720 S Nicollet St, Sioux City, IA 51106
Separate utility accounts support unit-level administration, with divided water lines ready for potential sub-meter installation.
Property Size1,457 SF
Days on Market49
Property Features for 1720 S Nicollet St
General Information
Standard status
Active
Size
1,457 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Building Size
1,457 SF
Year Built
1952
Buildings
1
Listing Agency:
NAI United
Listed By:
Aidan Vanderloo · License #IA #S73073000
(712) 577-1267
Source:
Naiunited
Added: Sep 1
Changed: Oct 13
Last Checked: Oct 16 at 6:02AM
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 NAI United
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Investment Insights
Based on property information with market context.
Built in 1952, this duplex contains two separate residences with practical layouts. The upper unit offers three bedrooms and one bathroom, while the lower unit includes two bedrooms and one bathroom. Improvements include an updated bathroom upstairs and a new HVAC system serving the lower residence.
Each unit has its own MidAmerican utility account, providing separate utility administration. Water lines have also been separated, with only a sub-meter installation needed if a future owner elects to bill residents individually for water use. The property is located near schools, shopping, dining, and parks in Sioux City’s Morningside area.
Each unit has its own MidAmerican utility account, providing separate utility administration. Water lines have also been separated, with only a sub-meter installation needed if a future owner elects to bill residents individually for water use. The property is located near schools, shopping, dining, and parks in Sioux City’s Morningside area.
Key Highlights
- Two‑unit duplex with a 3‑bedroom, 1‑bath upper unit and 2‑bedroom, 1‑bath lower unit
- Built in 1952
- Updated upper‑unit bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,075
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,500
$221.5K
Cap Rate 7%
$158,214
$158.2K
Cap Rate 9%
$123,056
$123.1K
Market Conditions
NOI Build-Up for 1,457 SF
Gross rent
$16.6K $11.40/SF
− Vacancy
−$789 −$0.54/SF
EGI
$15.8K $10.86/SF
− OpEx
−$4.7K −$3.26/SF
NOI
$11.1K $7.60/SF
Area
Woodbury County, IA
Vacancy
4.75%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,500
Cap Rate 7%
$158,214
Cap Rate 9%
$123,056
Alternative Uses
Best Use
Multifamily LT 5
$158.2K
$138.4K – $184.6K
NOI $11,075 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$146.2K
$127.9K – $170.5K
NOI $10,232 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$218.9K
$191.6K – $255.4K
NOI $15,326 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
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Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility accounts support unit-level administration, with divided water lines ready for potential sub-meter installation.
Where is this duplex located?
The property is located at 1720 S Nicollet St Sioux City, IA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit duplex with a 3‑bedroom, 1‑bath upper unit and 2‑bedroom, 1‑bath lower unit; Built in 1952; Updated upper‑unit bathroom
