Historic Brick
317 20th Street Ames, IA 50010
317 20th Street, Ames, IA, 50010
$242,000
For Sale
$242,000
MULTI_FAMILY - Ames, IA
Property Size1,740 SF
Lot Size0.23 Acres
Price / SF$139.08
Days on Market47
Property Features for 317 20th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- res
- Exterior features
- Brick, Vinyl Siding
- Basement
- Full
- Standard status
- Active
- APN
- 05-35-178-090
- Size
- 1,740 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Description
- GUNDER FJARE 2ND SD LOT:2 AMES
- Tax Annual Amount
- 2554
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Laminate, Hardwood
Listing Agency
RE/MAX REAL ESTATE CENTER
2324663
1606 SO. DUFF, AMES, IA
Listed by
Abigail Jennings-Brant · License #S67727
2324663
Added: Jun 5 Updated: Jul 18 at 5:30 am Checked: Jul 21 at 3:06 am
MLS# 70391
Listing URL
Copyright © 2026 Central Iowa Board of Realtors, Inc. 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.
This historic brick duplex includes two separate residential units with functional layouts and original character. The main level offers a 2 bedroom, 1 bathroom configuration and is currently rented, with the existing lease scheduled to renew at $900/month for the next lease term. The upper-level unit provides a 1 bedroom, 1 bathroom setup and is also currently rented. Both units feature hardwood flooring, and appliances are included. A full basement adds practical space, including laundry hookups. Exterior improvements include a newer driveway to support off-street parking, along with private yard space for occupants.
Located in Ames, Iowa, the property is positioned on a 0.23-acre lot and is described as having a unique brick exterior. Zoning is listed as residential. The current gross rental income totals $1,450/month, and leases are secured through July 2027.
For investors or owner-occupants seeking a stable, two-unit income property with existing tenancy, this duplex provides two distinct residential units and baseline shared improvements such as the basement and laundry hookups. Leases in place through July 2027 may appeal to buyers looking for current occupancy rather than vacancy-based transitions. The property is offered for sale as-is, with all terms to be confirmed through the transaction process.
Located in Ames, Iowa, the property is positioned on a 0.23-acre lot and is described as having a unique brick exterior. Zoning is listed as residential. The current gross rental income totals $1,450/month, and leases are secured through July 2027.
For investors or owner-occupants seeking a stable, two-unit income property with existing tenancy, this duplex provides two distinct residential units and baseline shared improvements such as the basement and laundry hookups. Leases in place through July 2027 may appeal to buyers looking for current occupancy rather than vacancy-based transitions. The property is offered for sale as-is, with all terms to be confirmed through the transaction process.
Key Highlights
- Historic brick duplex with 2 units, including a main‑level 2 bed, 1 bath and an upper‑level 1 bed, 1 bath
- Current gross rental income is $1,450/month, with leases in place through July 2027
- Main unit rented for $850/month, renewing at $900/month next lease term
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 | $20.0k | $11.52 |
| − Vacancy | −$1.0k | −$0.58 |
| EGI | $19.0k | $10.94 |
| − OpEx | −$5.7k | −$3.28 |
| NOI | $13.3k | $7.66 |
1,740 SF · lease $11.52/SF/yr · vacancy 5.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$190.4K
$166.6K – $222.1K
NOI $13,326 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$166.2K
$145.5K – $194.0K
NOI $11,637 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$406.6K
$355.8K – $474.4K
NOI $28,464 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit historic brick duplex with in-place leases through July 2027, hardwood floors, and in-unit laundry hookups.
Where is this duplex located?
The property is located at 317 20th Street Ames, IA.
What is the asking price?
The asking price for this property is $242,000.
What are key features of this property?
This property features: Historic brick duplex with 2 units, including a main‑level 2 bed, 1 bath and an upper‑level 1 bed, 1 bath; Current gross rental income is $1,450/month, with leases in place through July 2027; Main unit rented for $850/month, renewing at $900/month next lease term
