Two-Unit Duplex with Off-Street
For Sale
$140,000
1818 W PALMER AVE, Sioux City, IA 51103
Multi-Unit, Sioux City, IA
Property Size1,456 SF
Lot Size0.14 Acres
Price / SF$96.15
Days on Market54
Property Features for 1818 W PALMER AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3
Elementary school
Loess Hills
Middle school
West Middle
High school
West High
Directions
Google maps is accurate
Subdivision
Wside South
Standard status
Active
APN
19193-894730278003
Size
1,456 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HORNICKS LOT 5 BLK 2
Tax Annual Amount
1472
Legal Description
HORNICKS LOT 5 BLK 2
Utilities
Heating system
Forced Air
Building Details
Year built
1920
Number of units
2
Listing Agency:
Keller Williams Siouxland · Keller Williams Realty
(712) 226-1900
Listed By:
Brooke Pedersen
(712) 870-3551
Added: Aug 13
Changed: Sep 16
Last Checked: Oct 5 at 7:06PM
MLS# 834211
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,456-square-foot duplex was built in 1920 and is situated on a 0.14-acre residential-zoned parcel. The recorded room configuration includes four bedrooms and two bathrooms, with forced-air heating serving the property. Both units are occupied by long-term tenants, providing an established rental profile.
The property is located at 1818 W Palmer Ave in Sioux City, Iowa, within ZIP Code 51103. Off-street parking is available through the alley, adding functional parking access for residents. The two-unit layout, residential zoning, and existing occupancy make this a straightforward multifamily property in a westside Sioux City setting.
The property is located at 1818 W Palmer Ave in Sioux City, Iowa, within ZIP Code 51103. Off-street parking is available through the alley, adding functional parking access for residents. The two-unit layout, residential zoning, and existing occupancy make this a straightforward multifamily property in a westside Sioux City setting.
Key Highlights
- 1,456‑square‑foot duplex on a 0.14‑acre parcel
- Built in 1920 with forced‑air heating
- Four bedrooms and two bathrooms listed in the room configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,067
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,340
$221.3K
Cap Rate 7%
$158,100
$158.1K
Cap Rate 9%
$122,967
$123.0K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$16.6K $11.40/SF
− Vacancy
−$788 −$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%
$221,340
Cap Rate 7%
$158,100
Cap Rate 9%
$122,967
Alternative Uses
Best Use
Multifamily LT 5
$158.1K
$138.3K – $184.5K
NOI $11,067 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$146.1K
$127.8K – $170.4K
NOI $10,225 @ 7.0% cap · market cap 7.30%
Theoretical Best
Specialty Retail
$218.8K
$191.4K – $255.3K
NOI $15,315 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 51103, IA
16,827
Population
6,867
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
12.1 sq mi
ZIP Area
1,391
Density / Sq Mi
$57,212
Median Household Income
$35,136
Median Earnings
$887
Median Rent
$124,400
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?
Duplex - Residential zoning and alley-accessed parking support this fully occupied duplex.
Where is this duplex located?
The property is located at 1818 W PALMER AVE Sioux City, IA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 1,456‑square‑foot duplex on a 0.14‑acre parcel; Built in 1920 with forced‑air heating; Four bedrooms and two bathrooms listed in the room configuration
