Updated Duplex in
For Sale
$230,000
1820 S Nicollet St, Sioux City, IA 51106
Remodeled duplex with each unit updated, including new HVAC, 2024 roof, and new Gerkin windows.
Property Size2,362 SF
Days on Market198
Property Features for 1820 S Nicollet St
General Information
Standard status
Active
Size
2,362 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Building Size
2,362 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
NAI United
Listed By:
Aidan Vanderloo · License ##S73073000
(712) 577-1267
Source:
Naiunited
Added: Apr 15
Changed: Oct 27
Last Checked: Oct 28 at 5:01AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This updated duplex offers two remodeled units with improvements completed throughout. Major upgrades include new HVAC systems for both units, a new roof installed in 2024, and new Gerkin windows.
Located in the Morningside area of Sioux City, Iowa, the property is described as being close to Sioux City Public Schools.
The duplex configuration provides two separate residential units within one property, with the recent system and exterior updates intended to support continued maintenance and everyday comfort.
Located in the Morningside area of Sioux City, Iowa, the property is described as being close to Sioux City Public Schools.
The duplex configuration provides two separate residential units within one property, with the recent system and exterior updates intended to support continued maintenance and everyday comfort.
Key Highlights
- Updated duplex in the Morningside area of Sioux City, IA (close to Sioux City Public Schools)
- Each unit has been remodeled and updated throughout
- New HVAC systems installed for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,953
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,060
$359.1K
Cap Rate 7%
$256,471
$256.5K
Cap Rate 9%
$199,478
$199.5K
Market Conditions
NOI Build-Up for 2,362 SF
Gross rent
$26.9K $11.40/SF
− Vacancy
−$1.3K −$0.54/SF
EGI
$25.6K $10.86/SF
− OpEx
−$7.7K −$3.26/SF
NOI
$18.0K $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%
$359,060
Cap Rate 7%
$256,471
Cap Rate 9%
$199,478
Alternative Uses
Best Use
Multifamily LT 5
$256.5K
$224.4K – $299.2K
NOI $17,953 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$237.0K
$207.3K – $276.5K
NOI $16,587 @ 7.0% cap · market cap 7.21%
Theoretical Best
Specialty Retail
$354.9K
$310.6K – $414.1K
NOI $24,845 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled duplex with each unit updated, including new HVAC, 2024 roof, and new Gerkin windows.
Where is this duplex located?
The property is located at 1820 S Nicollet St Sioux City, IA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Updated duplex in the Morningside area of Sioux City, IA (close to Sioux City Public Schools); Each unit has been remodeled and updated throughout; New HVAC systems installed for both units
