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2018 W CENTRAL PARK AVE, Davenport, IA 52804
Multifamily property comprising two residential units.
Property Size1,704 SF
Price / SF$129.11
Days on Market6
Property Features for 2018 W CENTRAL PARK AVE
General Information
Standard status
Active
Size
1,704 SF
Class
A
Property subtype
Multifamily
Zoning
C
Additional Details
Multifamily Units
2
Building Details
Year Built
1963
Buildings
1
Stories
1
Units
2
Listing Agency:
Epique Realty
(563) 505-1806
Listed By:
Kyle Robinson · License #S62397000/475.163000
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 7:56AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This duplex at 2018 W Central Park Ave in Davenport, Iowa, contains two residential units within a 1,704-square-foot multifamily property. The building was constructed in 1963 and is designated C zoning.
Key Highlights
- Two‑unit duplex configuration
- 1,704 square feet of property size
- Built in 1963
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
$15,226
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
6.92%
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%
$304,520
$304.5K
Cap Rate 7%
$217,514
$217.5K
Cap Rate 9%
$169,178
$169.2K
Market Conditions
NOI Build-Up for 1,704 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
$23.5K $13.80/SF
− Vacancy
−$1.8K −$1.04/SF
EGI
$21.8K $12.77/SF
− OpEx
−$6.5K −$3.83/SF
NOI
$15.2K $8.94/SF
Area
Davenport, IA
Vacancy
7.50%
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%
$304,520
Cap Rate 7%
$217,514
Cap Rate 9%
$169,178
Alternative Uses
Best Use
Multifamily LT 5
$217.5K
$190.3K – $253.8K
NOI $15,226 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$195.7K
$171.3K – $228.4K
NOI $13,701 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$367.8K
$321.8K – $429.1K
NOI $25,745 @ 7.0% cap · market cap 11.70%
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
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 52804, IA
25,836
Population
11,986
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
32.9 sq mi
ZIP Area
785
Density / Sq Mi
$64,450
Median Household Income
$41,036
Median Earnings
$909
Median Rent
$148,400
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 - Multifamily property comprising two residential units.
Where is this duplex located?
The property is located at 2018 W CENTRAL PARK AVE Davenport, IA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,704 square feet of property size; Built in 1963
