18-Unit Duplex
For Sale
$325,000
208 S Main Street, Baxter, IA 50028
MultiFamily, Baxter, IA
Property Size2,616 SF
Price / SF$124.24
Days on Market107
Property Features for 208 S Main Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 3
Parking features
Garage
Elementary school district
Baxter
Middle school district
Baxter
High school district
Baxter
Directions
From hwy 210- turn right on US 65 S - turn left on W 76th St N- turn right on N 95th AVe W.-turn left on N Main Street.
Subdivision
Baxter
Standard status
Active
APN
0214153032
Size
2,616 SF
Taxes and HOA fees
Tax Description
ORIGINAL PLAT PARCEL C WITHIN LOTS 13, 14, 15 & S 1/2 OF ALLEY BLK 4
Tax Annual Amount
5801
Legal Description
ORIGINAL PLAT PARCEL C WITHIN LOTS 13, 14, 15 & S 1/2 OF ALLEY 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
Number of units
2
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 14 at 12:06AM
MLS# 743563
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 multifamily offering comprises 18 units across 9 buildings, with the properties located in Baxter, Nevada, and Roland, Iowa. The buildings were constructed in 2018 and feature ranch-style layouts with bedrooms and bathrooms configured for residential occupancy.
Each property is served by public water and public sewer. Interior climate control includes central air conditioning and forced-air heating fueled by natural gas, while garage parking is provided. The portfolio is zoned R and includes 2,616 square feet of property size as reported in the listing data.
Each property is served by public water and public sewer. Interior climate control includes central air conditioning and forced-air heating fueled by natural gas, while garage parking is provided. The portfolio is zoned R and includes 2,616 square feet of property size as reported in the listing data.
Key Highlights
- 18 units across 9 buildings
- Properties located in Baxter, Nevada, and Roland, Iowa
- Built in 2018 with ranch‑style architecture
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style duplex portfolio with public utilities, garages, central air, and natural-gas forced-air heating.
Where is this duplex located?
The property is located at 208 S 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: 18 units across 9 buildings; Properties located in Baxter, Nevada, and Roland, Iowa; Built in 2018 with ranch‑style architecture
