Building Details

Year Built 2011

Buildings 9

Listing Agency: RE/MAX Precision h***@gmail.com Show Phone

Listed By: Heather Schmidt (515) 729-4735

Source: Centraliowahomesearch

Added: Jun 27 Changed: Aug 29 Last Checked: Aug 29 at 4:53PM

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Investment Insights

Based on property information with market context.

This multifamily portfolio comprises 18 units across 9 duplex buildings in Nevada, Roland, and Baxter, Iowa. The Roland property is located at 209 S Cottonwood St. Unit interiors are not identical, and representative interior photos may differ from individual layouts. The portfolio includes residential units suited to rental use, with a reported construction year of 2011.

Key Highlights

• 18 units across 9 duplex buildings
• Portfolio locations include Nevada, Roland, and Baxter, Iowa
• Roland property address: 209 S Cottonwood St, Roland, IA 50236

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

$17,063

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

5.78%

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%

$341,260 $341.3K

Cap Rate 7%

$243,757 $243.8K

Cap Rate 9%

$189,589 $189.6K

Market Conditions

NOI Build-Up for 2,228 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

$25.7K $11.52/SF

− Vacancy

−$1.3K −$0.58/SF

EGI

$24.4K $10.94/SF

− OpEx

−$7.3K −$3.28/SF

NOI

$17.1K $7.66/SF

Area

Story County, IA

Vacancy

5.03%

Lease Rate

$11.52 /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%

$341,260

Cap Rate 7%

$243,757

Cap Rate 9%

$189,589

Alternative Uses

Best Use

Multifamily LT 5

$243.8K

$213.3K – $284.4K (±1% cap)

NOI $17,063 @ 7.0% cap · market cap 5.78%

Second Best

Apartment 5plus

$212.9K

$186.3K – $248.3K (±1% cap)

NOI $14,900 @ 7.0% cap · market cap 5.05%

Theoretical Best

Office A

$520.7K

$455.6K – $607.5K (±1% cap)

NOI $36,447 @ 7.0% cap · market cap 12.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Bakery Garden Center Kitchen & Bath Showroom Barber Shop Skin Care Clinic Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18

Residential units

Location Intelligence

Trade Area within ½ mile

71

Businesses Nearby

Explore this area Business Placement

Demographics for 50236, IA

1,634

Population

803

Households

2

Avg Household Size

38

Median Age

31%

College-Educated

98%

High-School Grad

34.0 sq mi

ZIP Area

48

Density / Sq Mi

$86,793

Median Household Income

$56,058

Median Earnings

$1,097

Median Rent

$185,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Multifamily property - Nine buildings are distributed across Nevada, Roland, and Baxter, with unit layouts that vary.

Where is this multifamily property located?

The property is located at 209 S Cottonwood St Roland, IA.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: 18 units across 9 duplex buildings; Portfolio locations include Nevada, Roland, and Baxter, Iowa; Roland property address: 209 S Cottonwood St, Roland, IA 50236