18-Unit Duplex
For Sale
$325,000
200 N Main St, Baxter, IA 50028
Recently built duplex properties support residential occupancy and rental use across multiple Iowa communities.
Property Size2,616 SF
Price / SF$124.24
Days on Market72
Property Features for 200 N Main St
General Information
Standard status
Active
Size
2,616 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
18
Building Details
Year Built
2018
Buildings
9
Listing Agency:
RE/MAX Precision
(515) 729-4735
Listed By:
Heather Schmidt (515) 729-4735
Source:
Desmoineshomesforsale
Added: Jun 19
Changed: Aug 29
Last Checked: Aug 29 at 4:49PM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
This residential income portfolio includes 18 units distributed across 9 duplex buildings. The properties were built in 2018 and offer residential configurations suited to both occupant use and rental operations. The package includes a property size of 2,616 square feet and provides multiple buildings within one offering.
Holdings are located in Nevada, Roland, and Baxter, Iowa, including an address at 200 N Main St in Baxter. The properties are positioned in community settings with access to nearby amenities. The portfolio format provides a consolidated way to acquire multiple duplex buildings across three Iowa communities.
Holdings are located in Nevada, Roland, and Baxter, Iowa, including an address at 200 N Main St in Baxter. The properties are positioned in community settings with access to nearby amenities. The portfolio format provides a consolidated way to acquire multiple duplex buildings across three Iowa communities.
Key Highlights
- 18 units across 9 duplex buildings
- 2018 construction
- 2,616 square feet property size
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
$17,135
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
5.27%
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%
$342,700
$342.7K
Cap Rate 7%
$244,786
$244.8K
Cap Rate 9%
$190,389
$190.4K
Market Conditions
NOI Build-Up for 2,616 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
$26.7K $10.20/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$24.5K $9.36/SF
− OpEx
−$7.3K −$2.81/SF
NOI
$17.1K $6.55/SF
Area
Jasper County, IA
Vacancy
8.26%
Lease Rate
$10.20 /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%
$342,700
Cap Rate 7%
$244,786
Cap Rate 9%
$190,389
Alternative Uses
Best Use
Multifamily LT 5
$244.8K
$214.2K – $285.6K
NOI $17,135 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$225.2K
$197.0K – $262.7K
NOI $15,763 @ 7.0% cap · market cap 4.85%
Theoretical Best
Flex RnD
$2.52M
$2.20M – $2.94M
NOI $176,277 @ 7.0% cap · market cap 54.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 50028, IA
1,608
Population
776
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
45.3 sq mi
ZIP Area
35
Density / Sq Mi
$70,982
Median Household Income
$50,156
Median Earnings
$697
Median Rent
$197,400
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 - Recently built duplex properties support residential occupancy and rental use across multiple Iowa communities.
Where is this duplex located?
The property is located at 200 N Main St Baxter, IA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 18 units across 9 duplex buildings; 2018 construction; 2,616 square feet property size
