4-Unit Quadplex with Modernized
New
For Sale
$325,000
3080 8th St, Marion, IA 52302
Four matching two-bedroom apartments have updated flooring, kitchens, baths, and boiler systems.
Property Size3,360 SF
Price / SF$96.73
Days on Market4
Property Features for 3080 8th St
General Information
Standard status
Active
Size
3,360 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$750
Taxes and HOA fees
Annual Taxes
$4,377
Amenities
Concrete
Yes
Common Area
Public
0.177
7
7770 sf
Parking Space(s)
Poured
Building Details
Year Built
1979
Buildings
1
Listing Agency:
Miehe Commercial Real Estate
(319) 393-0900
Listed By:
Lydia Fitzgerald
(319) 213-1157
Source:
Pinnaclerealtyia
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 4:12AM
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 Miehe Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,360-square-foot quadplex contains four matching apartments, each with two bedrooms and one bathroom. Built in 1979, the property has received updates to its interior finishes and mechanical systems. Luxury vinyl plank flooring was installed throughout; one apartment also received a full upgrade, while kitchens and bathrooms were improved in the other three. Heating and hot-water boiler systems have been modernized.
All four apartments are leased through July 25, 2027, providing a defined lease term across the property.
All four apartments are leased through July 25, 2027, providing a defined lease term across the property.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,360 square feet; built in 1979
- All units leased through 7/25/27
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
$26,739
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
8.23%
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%
$534,780
$534.8K
Cap Rate 7%
$381,986
$382.0K
Cap Rate 9%
$297,100
$297.1K
Market Conditions
NOI Build-Up for 3,360 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
$41.1K $12.24/SF
− Vacancy
−$2.9K −$0.87/SF
EGI
$38.2K $11.37/SF
− OpEx
−$11.5K −$3.41/SF
NOI
$26.7K $7.96/SF
Area
Linn County, IA
Vacancy
7.12%
Lease Rate
$12.24 /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%
$534,780
Cap Rate 7%
$381,986
Cap Rate 9%
$297,100
Alternative Uses
Best Use
Multifamily LT 5
$382.0K
$334.2K – $445.7K
NOI $26,739 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$331.1K
$289.7K – $386.3K
NOI $23,179 @ 7.0% cap · market cap 7.13%
Theoretical Best
Self Storage
$565.5K
$494.8K – $659.7K
NOI $39,584 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 52302, IA
43,130
Population
18,153
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
580
Density / Sq Mi
$87,463
Median Household Income
$50,234
Median Earnings
$963
Median Rent
$232,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching two-bedroom apartments have updated flooring, kitchens, baths, and boiler systems.
Where is this quadplex located?
The property is located at 3080 8th St Marion, IA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,360 square feet; built in 1979; All units leased through 7/25/27
