Ranch Duplex with
For Sale
$325,000
204 N Main Street, Baxter, IA 50028
MultiFamily, Baxter, IA
Property Size2,616 SF
Lot Size0.21 Acres
Price / SF$124.24
Days on Market106
Property Features for 204 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Bedroom 3
Parking features
Garage
Appliances
Dishwasher, Microwave, Refrigerator, Stove
Elementary school district
Baxter
Middle school district
Baxter
High school district
Baxter
Directions
W. Station Street to N. Main Street. North on N. Main Street to the property
Subdivision
Baxter
Standard status
Active
APN
0214153033
Size
2,616 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
ORIGINAL PLAT PARCEL D WITHIN LOTS 15, 16, 17 & 18 BLK 4
Tax Annual Amount
5800
Legal Description
ORIGINAL PLAT PARCEL D WITHIN LOTS 15, 16, 17 & 18 BLK 4
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2018
Floors in Building
1
Building materials
VinylSiding
Roof type
Asphalt, Shingle
Architectural style
Ranch
Listing Agency:
RE/MAX Precision · RE/MAX International
(515) 223-9492
Listed By:
Heather Schmidt
(515) 729-4735
Added: Jun 30
Changed: Oct 12
Last Checked: Oct 13 at 11:06PM
MLS# 743566
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This ranch-style duplex contains 2,616 square feet on a 0.21-acre lot and was built in 2018. The property includes six bedrooms and four bathrooms, with layouts suited to residential occupancy or rental use. Interior equipment includes dishwashers, microwaves, refrigerators, and stoves.
Exterior construction features vinyl siding with an asphalt shingle roof. Building systems include central air conditioning and forced-air natural gas heating. Public water and public sewer serve the property, while garage parking is provided. The property is located at 204 N Main Street in Baxter, Iowa, within Jasper County, and carries R zoning.
Exterior construction features vinyl siding with an asphalt shingle roof. Building systems include central air conditioning and forced-air natural gas heating. Public water and public sewer serve the property, while garage parking is provided. The property is located at 204 N Main Street in Baxter, Iowa, within Jasper County, and carries R zoning.
Key Highlights
- Duplex with 2,616 SF of building area on a 0.21‑acre lot
- Built in 2018 with ranch architectural design
- Six bedrooms and four bathrooms
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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Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
113
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - 2018 duplex with central air, forced-air natural gas heating, public utilities, and a garage.
Where is this duplex located?
The property is located at 204 N Main Street 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: Duplex with 2,616 SF of building area on a 0.21‑acre lot; Built in 2018 with ranch architectural design; Six bedrooms and four bathrooms
