Historic Brick
For Sale
$215,000
317 20th Street, Ames, IA 50010
Residential Income, Ames, IA
Property Size1,740 SF
Lot Size0.23 Acres
Price / SF$123.56
Days on Market137
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
Elementary school district
Ames
Middle school district
Ames
High school district
Ames
Directions
Please use GPS to locate this property.
Subdivision
0001 - Ames NE
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
Legal Description
GUNDER FJARE 2ND SD LOT:2 AMES
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
hardwood flooring
appliances included
full basement
laundry hookups
private yard space
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Carpet, Laminate
Listing Agency:
RE/MAX REAL ESTATE CENTER · RE/MAX International
2324663
Listed By:
Abigail Jennings-Brant · License #S67727
(515) 291-1222
Added: Jun 5
Changed: Oct 16
Last Checked: Oct 19 at 12:06PM
MLS# 70391
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex features a brick exterior, 1,740 square feet, and a functional layout with original character. The main-level unit offers two bedrooms and one bathroom, while the upper-level unit includes one bedroom and one bathroom. Both residences have appliances and a mix of hardwood, laminate, and carpet flooring.
The property includes a full basement with laundry hookups, a newer driveway, off-street parking, and private yard space. Natural gas forced-air heating, central air, public water, and public sewer serve the building. Leases are secured through July 2027, and the property is zoned res. Located at 317 20th Street in Ames, Iowa, the duplex is offered for sale AS IS.
The property includes a full basement with laundry hookups, a newer driveway, off-street parking, and private yard space. Natural gas forced-air heating, central air, public water, and public sewer serve the building. Leases are secured through July 2027, and the property is zoned res. Located at 317 20th Street in Ames, Iowa, the duplex is offered for sale AS IS.
Key Highlights
- Two‑unit duplex with 1,740 square feet on a 0.23‑acre lot
- Main‑level 2 bedroom, 1 bathroom unit and upper‑level 1 bedroom, 1 bathroom unit
- Leases secured through July 2027
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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with basement laundry hookups, private yard space, and off-street parking.
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 $215,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,740 square feet on a 0.23‑acre lot; Main‑level 2 bedroom, 1 bathroom unit and upper‑level 1 bedroom, 1 bathroom unit; Leases secured through July 2027
