Four-Unit Quadplex with Upgraded
New
For Sale
$325,000
3080 8th St, Marion, IA 52302
Multi-Family, Marion, IA
Property Size3,360 SF
Lot Size0.18 Acres
Price / SF$96.73
Days on Market3
Property Features for 3080 8th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Rooms
Bedroom 5, Bedroom 1, Bedroom 8, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 2, Bedroom 6
Parking
7
Elementary school
Novak
Middle school
Excelsior
High school
Linn Mar
Directions
1st ave, N on 10th St, W on 29th Ave, N on 8th St
Subdivision
Marion
Standard status
Active
APN
1125457902100000
Size
3,360 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Linnwood Acres 3rd
Tax Annual Amount
4377
Legal Description
Linnwood Acres 3rd
Building Details
Year built
1979
Number of units
4
Building materials
Frame
Listing Agency:
RE/MAX CONCEPTS · RE/MAX International
(319) 395-0101
Listed By:
Steve Mcvay
(800) 728-0113
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 23 at 1:06AM
MLS# 2606614
Copyright © 2026 Cedar Rapids Area Association 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.
Investment Insights
Based on property information with market context.
Built in 1979, this frame quadplex contains 3,360 square feet on a 0.177-acre parcel in Marion. The property includes four matching units, each configured with two bedrooms and one bathroom, and all units are leased through 7/25/27.
Capital improvements completed over the past five years include luxury vinyl plank flooring throughout the building. One unit received a full interior flooring, kitchen, and bath upgrade, while the other three units received updated flooring in their kitchens and bathrooms. The heating and domestic hot-water boiler systems have also been modernized, providing updated core building systems for the existing four-unit layout.
Capital improvements completed over the past five years include luxury vinyl plank flooring throughout the building. One unit received a full interior flooring, kitchen, and bath upgrade, while the other three units received updated flooring in their kitchens and bathrooms. The heating and domestic hot-water boiler systems have also been modernized, providing updated core building systems for the existing four-unit layout.
Key Highlights
- Four matching two‑bedroom, one‑bath units
- 3,360 square feet on a 0.177‑acre parcel
- 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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased quadplex with four matching two-bedroom, one-bath units and upgraded heating and hot-water 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 matching two‑bedroom, one‑bath units; 3,360 square feet on a 0.177‑acre parcel; All units leased through 7/25/27
