Historic Brick
For Sale
$215,000
317 20th St Unit 319, Ames, IA 50010
Two leased units offer hardwood floors, included appliances, basement laundry hookups, and off-street parking.
Property Size1,740 SF
Price / SF$123.56
Days on Market96
Property Features for 317 20th St Unit 319
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
RE/MAX Real Estate Center
Listed By:
Jennings-Brant, Abigail (515) 232-4663
Source:
Centraliowahomesearch
Added: Jul 13
Changed: Oct 3
Last Checked: Oct 14 at 11:24PM
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 RE/MAX Real Estate Center
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Investment Insights
Based on property information with market context.
This 1,740-square-foot duplex, built in 1900, contains two residential units within a historic brick exterior. The main-level residence has two bedrooms and one bathroom, while the upper-level unit includes one bedroom and one bathroom. Both apartments feature hardwood flooring, included appliances, and practical layouts with original character. The property is being sold as is.
A full basement provides laundry hookups, while a newer driveway supports off-street parking. Additional outdoor space includes a private yard. Existing leases extend through July 2027, providing established occupancy across both units.
A full basement provides laundry hookups, while a newer driveway supports off-street parking. Additional outdoor space includes a private yard. Existing leases extend through July 2027, providing established occupancy across both units.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bath main‑level unit and a 1‑bedroom, 1‑bath upper unit
- Leases secured through July 2027
- 1,740 SF duplex built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,326
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,520
$266.5K
Cap Rate 7%
$190,371
$190.4K
Cap Rate 9%
$148,067
$148.1K
Market Conditions
NOI Build-Up for 1,740 SF
Gross rent
$20.0K $11.52/SF
− Vacancy
−$1.0K −$0.58/SF
EGI
$19.0K $10.94/SF
− OpEx
−$5.7K −$3.28/SF
NOI
$13.3K $7.66/SF
Area
Story County, IA
Vacancy
5.03%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,520
Cap Rate 7%
$190,371
Cap Rate 9%
$148,067
Alternative Uses
Best Use
Multifamily LT 5
$190.4K
$166.6K – $222.1K
NOI $13,326 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$166.2K
$145.5K – $194.0K
NOI $11,637 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$406.6K
$355.8K – $474.4K
NOI $28,464 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
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Business Placement
Demographics for 50010, IA
32,552
Population
14,732
Households
2.2
Avg Household Size
30
Median Age
59%
College-Educated
98%
High-School Grad
60.3 sq mi
ZIP Area
540
Density / Sq Mi
$65,701
Median Household Income
$27,672
Median Earnings
$981
Median Rent
$243,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer hardwood floors, included appliances, basement laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 317 20th St Unit 319 Ames, IA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 1‑bath main‑level unit and a 1‑bedroom, 1‑bath upper unit; Leases secured through July 2027; 1,740 SF duplex built in 1900
