Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Cedar Falls Multifamily Investment Property Title is generated by Realmo AI

    2222 Walnut Street, Cedar Falls, IA 50613

    View on Map
    Claim this Listing
    New
    For Sale
    $499,900

    MULTI_FAMILY - Cedar Falls, IA

    Type:Apartment
    Lot size:
    0.20 Acres
    Added:
    May 18, 2026
    Days on Market:
    3
    Last Refresh:
    May 20 at 12:06 am

    Property Features for 2222 Walnut Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Zoning
    R-4
    Bedrooms
    10
    Bathrooms
    6
    Rooms
    Bathroom 5, Bedroom 3, Bedroom 10, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 9, Bedroom 8, Bathroom 6, Bedroom 6, Bathroom 2
    Standard status
    Active
    APN
    891413311016
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Description
    As Per Abstract / Normal Addition Lot15 Blk 11
    Tax Annual Amount
    4077

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    5
    Building materials
    Vinyl Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Cody Hamann

    Listing agent Cody Hamann

    Listing office Berkshire Hathaway Home Services One Realty Centre 1118 Ansborough Ave, Waterloo, IA

    Listing date May 18, 2026

    MLS# 20262163 Listing URL

    Copyright © 2026 Northeast Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully leased investment property
    • Located near the College Hill area
    • Five individual units
    • On‑site coin operated laundry
    • Paved parking
    • Central air conditioning

    Overview

    This multifamily property is located two blocks from the College Hill area in Cedar Falls, Iowa. The property features five units, all of which have signed leases. On-site amenities include paved parking and coin-operated laundry facilities. The lot size is 0.2 acres. The zoning is R-4, which may allow for a variety of residential uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Falls
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.453129
    Latitude
    42.51702

    Nearby Similar for Sale

    • $425,000

      Cedar Falls Office Building

      Over 10,000 SF office space with great visibility.
      2304 College Street, Cedar Falls, IA 50613
      View Details
    • $2,400

      Restored Office/Retail Space For Sale

      Restored office or retail space near downtown Cedar Falls.
      215 Franklin Street, Cedar Falls, IA 50613
      View Details
    • $599,900

      Climate-Controlled Storage Facility For Sale

      Turnkey storage facility with climate-controlled units and modern infrastructure.
      3717 Midway Dr, Cedar Falls, IA 50613
      View Details
    • $214,775
      1,980 SF

      Cedar Falls Commercial Condo

      Condo-style building in Cedar Falls Industrial Park.
      3045 Capital Way, Cedar Falls, IA 50613
      View Details
    • $329,900
      2,475 SF

      Industrial Flex Space with Gym

      Versatile industrial flex space, currently a gym/fitness center.
      3035 Capital Way, Cedar Falls, IA 50613
      View Details
    • $179,900

      Cedar Falls Duplex Investment Opportunity

      Well-maintained duplex in central Cedar Falls location with immediate cashflow.
      526 W 8th Street, Cedar Falls, IA 50613
      View Details
    • $2,595,000

      Cedar Falls Storage Facility

      Premium self-storage facility in Cedar Falls, Iowa for sale.
      2811 Technology Parkway, Cedar Falls, IA 50613
      View Details
    • $439,000

      Cedar Falls Multifamily Investment Property

      Six-unit rental property in Cedar Falls' college hill area.
      2115 Walnut Street, Cedar Falls, IA 50613
      View Details
    • $2,275

      Retail/Office Space in Cedar Falls

      Retail or office space with parking in downtown Cedar Falls.
      702 Main Street, Cedar Falls, IA 50613
      View Details
    • $169,775
      1,485 SF

      Cedar Falls Commercial Flex Space

      Condo-style flex space in Cedar Falls' Industrial Park.
      3045 Capital Way, Cedar Falls, IA 50613
      View Details
    • $479,000

      Cash-Flowing Multifamily Near Campus

      Eight-unit multifamily property near campus with strong income potential.
      2221 Olive Street, Cedar Falls, IA 50613
      View Details
    • $439,000

      Cedar Falls Multifamily Investment Property

      Multifamily property with six units near college.
      810 W 25th Street, Cedar Falls, IA 50613
      View Details

    FAQs

    What type of property is this?
    Apartment building - Investment property near College Hill with signed leases.
    Where is this apartment building located?
    The property is located at 2222 Walnut Street Cedar Falls, IA.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Fully leased investment property; Located near the College Hill area; Five individual units
    (319) 883-9000
    We can help!
    Listing Contact
    Cody Hamann
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2222 Walnut Street, Cedar Falls, IA 50613
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!