317 20th Street, Ames, IA 50010
- Added:
- Jun 5, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 5 at 10:06 pm
Property Features for 317 20th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- 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
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Laminate, Carpet
Listing agent Abigail Jennings-Brant License #S67727 2324663
Listing office RE/MAX REAL ESTATE CENTER 1606 SO. DUFF, AMES, IA 2324663
Listing date Jun 5, 2026
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.
HighLights
- Historic brick duplex built in 1900 with 2 units (main level 2 bed/1 bath and upper level 1 bed/1 bath).
- Leases in place through July 2027; main‑level unit renews from $850/mo to $900/mo next lease term.
- Current gross rental income totals $1,450/month, with appliances included in both units.
- Both units include hardwood flooring, with natural gas forced‑air heat and central air.
- Full basement with laundry hookups, plus a newer driveway for off‑street parking and private yard space.
- Public water and public sewer services; exterior features include brick and vinyl siding; property sold AS IS.
Overview
A full basement provides laundry hookups, supporting in-unit convenience without altering the existing layouts. Exterior improvements include a newer driveway that adds off-street parking, along with private yard space for each residence. The current gross rental income totals $1,450 per month, and leases are already secured through July 2027. The property is offered for sale AS IS.
For investors or owners seeking occupied income at acquisition, this duplex is structured around two signed rentals and documented rent levels through the lease term. Its combination of hardwood floors, functional original character, and shared support amenities like basement laundry hookups may appeal to tenants looking for day-to-day usability while keeping the ownership profile relatively simple for a two-unit asset.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Ames
- County
- Story
- State
- Iowa
- Longitude
- -93.615585
- Latitude
- 42.042269
