Duplex with Covered
For Sale
$219,900
1903 Taylor Dr, Iowa City, IA 52240
Two residential units provide two bedrooms, a full bathroom, and dedicated covered parking on each side.
Property Size1,352 SF
Price / SF$162.65
Days on Market8
Property Features for 1903 Taylor Dr
General Information
Standard status
Active
Size
1,352 SF
Property subtype
Multi-Family
Zoning
Res
Taxes and HOA fees
Annual Taxes
$3,451
Amenities
Unfinished
Carpet,Vinyl
1352.0
0.0
136x90
Carport
Building Details
Year Built
1964
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 213-1157
Listed By:
Lydia Fitzgerald
(319) 213-1157
Source:
Pinnaclerealtyia
Added: Aug 18
Changed: Aug 25
Last Checked: Aug 25 at 5:34AM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
This 1,352-square-foot duplex, built in 1964 and zoned Res, contains two residential units. Each side includes a kitchen, living room, two bedrooms, and a full bathroom on the main level. The unfinished basement beneath each unit provides laundry space along with a toilet and sink. Covered carport parking serves each unit, with additional driveway space for a second vehicle.
One unit is leased through July 25, 2027, while the other is vacant and was previously rented. Tenants pay all utilities and handle lawn care and snow removal. The property is offered as-is, with a minimum 24-hour notice required for showings.
One unit is leased through July 25, 2027, while the other is vacant and was previously rented. Tenants pay all utilities and handle lawn care and snow removal. The property is offered as-is, with a minimum 24-hour notice required for showings.
Key Highlights
- 1,352 SF duplex built in 1964
- Each unit has 2 bedrooms and 1 full bathroom on the main level
- Unfinished basement in each unit includes laundry, toilet, and sink
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
$12,473
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
5.67%
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%
$249,460
$249.5K
Cap Rate 7%
$178,186
$178.2K
Cap Rate 9%
$138,589
$138.6K
Market Conditions
NOI Build-Up for 1,352 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
$18.7K $13.80/SF
− Vacancy
−$840 −$0.62/SF
EGI
$17.8K $13.18/SF
− OpEx
−$5.3K −$3.95/SF
NOI
$12.5K $9.23/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$13.80 /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%
$249,460
Cap Rate 7%
$178,186
Cap Rate 9%
$138,589
Alternative Uses
Best Use
Multifamily LT 5
$178.2K
$155.9K – $207.9K
NOI $12,473 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$165.2K
$144.6K – $192.7K
NOI $11,564 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$293.7K
$257.0K – $342.7K
NOI $20,559 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
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 - Two residential units provide two bedrooms, a full bathroom, and dedicated covered parking on each side.
Where is this duplex located?
The property is located at 1903 Taylor Dr Iowa City, IA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,352 SF duplex built in 1964; Each unit has 2 bedrooms and 1 full bathroom on the main level; Unfinished basement in each unit includes laundry, toilet, and sink
