7-Unit Apartment
For Sale
$769,000
2500 Olive Street, Cedar Falls, IA 50613
A mix of studio, one-bedroom, and two-bedroom homes includes refreshed finishes in several units.
Property Size4,344 SF
Price / SF$177.03
Days on Market314
Property Features for 2500 Olive Street
General Information
Standard status
Active
Size
4,344 SF
Property subtype
Apartment
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$6,842
Building Details
Building Size
4,344 SF
Year Built
1967
Listing Agency:
Vine Valley Real Estate
Listed By:
Emsad Begic · License #IOWA-B56539000
(319) 239-8663
Source:
Karensteffeshomes
Added: Dec 17, 2025
Changed: Oct 26
Last Checked: Oct 26 at 2:18PM
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 Vine Valley Real Estate
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Investment Insights
Based on property information with market context.
This 4,344-square-foot apartment property was built in 1967 and contains seven units: studios, one-bedroom apartments, and two-bedroom apartments. Some residences have received newer flooring and updated interior finishes. Brick detailing marks the front of the building while retaining its original character.
The property is in Cedar Falls, with access to the University of Northern Iowa, shopping, dining, major employers, and major roads. Its range of apartment layouts and reported consistent occupancy provide additional context for evaluating the rental property.
The property is in Cedar Falls, with access to the University of Northern Iowa, shopping, dining, major employers, and major roads. Its range of apartment layouts and reported consistent occupancy provide additional context for evaluating the rental property.
Key Highlights
- Seven apartments spanning studio, one‑bedroom, and two‑bedroom layouts
- 4,344 square feet; built in 1967
- Some units feature newer flooring and refreshed finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,877
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,540
$697.5K
Cap Rate 7%
$498,243
$498.2K
Cap Rate 9%
$387,522
$387.5K
Market Conditions
NOI Build-Up for 4,344 SF
Gross rent
$67.2K $15.48/SF
− Vacancy
−$3.8K −$0.88/SF
EGI
$63.4K $14.60/SF
− OpEx
−$28.5K −$6.57/SF
NOI
$34.9K $8.03/SF
Area
Black Hawk County, IA
Vacancy
5.70%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,540
Cap Rate 7%
$498,243
Cap Rate 9%
$387,522
Alternative Uses
Best Use
Apartment 5plus
$498.2K
$436.0K – $581.3K
NOI $34,877 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$5.45M
$4.76M – $6.35M
NOI $381,186 @ 7.0% cap · market cap 49.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
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Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - A mix of studio, one-bedroom, and two-bedroom homes includes refreshed finishes in several units.
Where is this apartment building located?
The property is located at 2500 Olive Street Cedar Falls, IA.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Seven apartments spanning studio, one‑bedroom, and two‑bedroom layouts; 4,344 square feet; built in 1967; Some units feature newer flooring and refreshed finishes
