Remodeled Two-Unit
For Sale
$350,000
1910 63rd St, Windsor Heights, IA 50324
Each residence includes two bedrooms, one full bathroom, and a practical living arrangement.
Property Size1,622 SF
Price / SF$215.78
Days on Market91
Property Features for 1910 63rd St
General Information
Standard status
Active
Size
1,622 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1963
Buildings
1
Listing Agency:
Realty ONE Group Impact
(515) 446-7524
Listed By:
Brenda Phongsavanh
Source:
Desmoineshomesforsale
Added: Jun 1
Changed: Aug 28
Last Checked: Aug 29 at 10:35AM
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 Realty ONE Group Impact
Investment Insights
Based on property information with market context.
This two-unit duplex includes matching residences, with each unit offering 2 bedrooms, 1 full bathroom, comfortable living areas, and functional floor plans. The property has been newly remodeled, and a shared 2-car garage provides off-street parking along with additional storage. Built in 1963, the duplex is located at 1910 63rd St in Windsor Heights, Iowa. Shopping, dining, parks, and major commuter routes are situated nearby. The property may be purchased individually or included as part of a larger investment portfolio.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit
- Newly remodeled property with functional floor plans
- Shared 2‑car garage offers off‑street parking and additional storage
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
$14,390
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
4.11%
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%
$287,800
$287.8K
Cap Rate 7%
$205,571
$205.6K
Cap Rate 9%
$159,889
$159.9K
Market Conditions
NOI Build-Up for 1,622 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
$21.8K $13.44/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$20.6K $12.67/SF
− OpEx
−$6.2K −$3.80/SF
NOI
$14.4K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
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%
$287,800
Cap Rate 7%
$205,571
Cap Rate 9%
$159,889
Alternative Uses
Best Use
Multifamily LT 5
$205.6K
$179.9K – $239.8K
NOI $14,390 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$179.7K
$157.2K – $209.7K
NOI $12,579 @ 7.0% cap · market cap 3.59%
Theoretical Best
Flex RnD
$1.56M
$1.37M – $1.82M
NOI $109,297 @ 7.0% cap · market cap 31.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 50324, IA
5,252
Population
2,327
Households
2.3
Avg Household Size
40
Median Age
44%
College-Educated
98%
High-School Grad
1.4 sq mi
ZIP Area
3,751
Density / Sq Mi
$89,083
Median Household Income
$56,385
Median Earnings
$1,355
Median Rent
$251,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, one full bathroom, and a practical living arrangement.
Where is this duplex located?
The property is located at 1910 63rd St Windsor Heights, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit; Newly remodeled property with functional floor plans; Shared 2‑car garage offers off‑street parking and additional storage
