18-Unit Duplex
For Sale
$325,000
204 N Main St, Baxter, IA 50028
Multi-building residential portfolio with varied unit layouts and rental-use flexibility.
Property Size2,616 SF
Price / SF$124.24
Days on Market186
Property Features for 204 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
Listed By:
Heather Schmidt (515) 729-4735
(515) 729-4735
Source:
Desmoineshomesforsale
Added: Apr 15
Changed: Oct 1
Last Checked: Oct 16 at 8:58AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex portfolio comprises 18 units distributed across 9 buildings in Nevada, Roland, and Baxter, Iowa. The properties were built in 2018 and offer residential layouts with living areas and bedrooms sized for everyday occupancy.
Unit interiors vary somewhat from one property to another, while available interior photographs are representative rather than specific to every unit. The package supports rental use across multiple buildings and communities, providing an established residential configuration for an investor evaluating a multifamily acquisition.
Unit interiors vary somewhat from one property to another, while available interior photographs are representative rather than specific to every unit. The package supports rental use across multiple buildings and communities, providing an established residential configuration for an investor evaluating a multifamily acquisition.
Key Highlights
- 18 units across 9 duplex buildings
- Properties located in Nevada, Roland, and Baxter, Iowa
- Built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,135
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Multi-building residential portfolio with varied unit layouts and rental-use flexibility.
Where is this duplex located?
The property is located at 204 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; Properties located in Nevada, Roland, and Baxter, Iowa; Built in 2018
