Historic Multifamily
For Sale
$250,000
Pending
25 N Van Buren, Iowa City, IA 52245
Historic property includes separate-entry units, potential for a third rental, and a detached barn building.
Property Size1,612 SF
Days on Market453
Property Features for 25 N Van Buren
General Information
Standard status
Pending
Size
1,612 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
substantial improvements
Taxes and HOA fees
Annual Taxes
$4,214
Amenities
3
70 X 80
Building Details
Year Built
1877
Listing Agency:
Exp Realty
(712) 363-2399
Listed By:
Sanja Hunt
(319) 471-1020
Source:
Xome
Added: Jun 5, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:44PM
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 Exp Realty
Investment Insights
Based on property information with market context.
Built in 1877, this 1,612-square-foot multifamily property includes an upper apartment with one bedroom and a lower level that can accommodate two bedrooms. The two primary units have independent entrances, while the detached barn may function as another rental space. Four parking spaces are located on the property.
The home is within a historic preservation area and may also serve as a single-family residence. Significant renovation work is needed, including foundation, roofing, interior remodeling, and mechanical systems. The property’s configuration provides several possible residential layouts, subject to the required improvements and applicable approvals.
The home is within a historic preservation area and may also serve as a single-family residence. Significant renovation work is needed, including foundation, roofing, interior remodeling, and mechanical systems. The property’s configuration provides several possible residential layouts, subject to the required improvements and applicable approvals.
Key Highlights
- 1,612 SF multifamily property built in 1877
- Upper unit has 1 bedroom; lower unit can be configured with 2 bedrooms
- Separate entrances serve the upper and lower units
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
$13,788
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
5.52%
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%
$275,760
$275.8K
Cap Rate 7%
$196,971
$197.0K
Cap Rate 9%
$153,200
$153.2K
Market Conditions
NOI Build-Up for 1,612 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
$26.1K $16.20/SF
− Vacancy
−$1.0K −$0.65/SF
EGI
$25.1K $15.55/SF
− OpEx
−$11.3K −$7.00/SF
NOI
$13.8K $8.55/SF
Area
Johnson County, IA
Vacancy
4.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$275,760
Cap Rate 7%
$196,971
Cap Rate 9%
$153,200
Alternative Uses
Best Use
Apartment 5plus
$197.0K
$172.4K – $229.8K
NOI $13,788 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$350.2K
$306.4K – $408.6K
NOI $24,513 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,400
Businesses Nearby
Explore this area
Business Placement
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Historic property includes separate-entry units, potential for a third rental, and a detached barn building.
Where is this multifamily property located?
The property is located at 25 N Van Buren Iowa City, IA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,612 SF multifamily property built in 1877; Upper unit has 1 bedroom; lower unit can be configured with 2 bedrooms; Separate entrances serve the upper and lower units
