Side-by-Side Duplex Income
2902 Johnson Avenue Cedar Rapids, IA 52405
2902 Johnson Avenue, Cedar Rapids, IA, 52405
$250,000
For Sale
$250,000
Well-maintained side-by-side duplex with two 2-bedroom, 1-bath units and recently updated heating and cooling systems.
Property Size1,465 SF
Price / SF$170.65
Days on Market8
Property Features for 2902 Johnson Avenue
General Information
- Standard status
- Active
- Size
- 1,465 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1962
Listing agency
GLD Commercial Real Estate Advisors
(319) 538-7671
Listed by
Star Horak
(319) 538-7671
Source
Pinnaclerealtyia
Added: Jul 15 Updated: Jul 21 at 1:45PM Checked: Jul 22 at 3:05AM
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 GLD Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This well-maintained side-by-side duplex contains two separate 2-bedroom, 1-bath units. Each unit includes a spacious living room and a generously sized kitchen. The property also has recently updated heating and cooling systems.
The home is offered for sale and includes a total of 1,465 finished square feet across both units.
For buyers seeking an owner-occupied or investment-focused residential income property, this duplex provides two rentable units in a straightforward side-by-side configuration.
The home is offered for sale and includes a total of 1,465 finished square feet across both units.
For buyers seeking an owner-occupied or investment-focused residential income property, this duplex provides two rentable units in a straightforward side-by-side configuration.
Key Highlights
- Side‑by‑side duplex with 2, 2‑bedroom, 1‑bath units
- Total of 1,465 finished SF with spacious living rooms and generously sized kitchens
- Recently updated heating and cooling systems
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.7k | $13.44 |
| − Vacancy | −$1.4k | −$0.96 |
| EGI | $18.3k | $12.48 |
| − OpEx | −$5.5k | −$3.74 |
| NOI | $12.8k | $8.74 |
1,465 SF · lease $13.44/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$182.9K
$160.0K – $213.4K
NOI $12,801 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$168.7K
$147.6K – $196.8K
NOI $11,806 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$212.0K
$185.5K – $247.4K
NOI $14,842 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained side-by-side duplex with two 2-bedroom, 1-bath units and recently updated heating and cooling systems.
Where is this duplex located?
The property is located at 2902 Johnson Avenue Cedar Rapids, 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: Side‑by‑side duplex with 2, 2‑bedroom, 1‑bath units; Total of 1,465 finished SF with spacious living rooms and generously sized kitchens; Recently updated heating and cooling systems
