Historic Brick
For Sale
$215,000
319-317 20th St, Ames, IA 50010
Two-unit property with hardwood floors, included appliances, basement laundry hookups, off-street parking, and private yard space.
Property Size1,740 SF
Price / SF$123.56
Days on Market124
Property Features for 319-317 20th St
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$17,400
Taxes and HOA fees
Annual Taxes
$2,554
Building Details
Construction
brick
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Center
(515) 232-4663
Listed By:
Jennings-Brant, Abigail
(515) 291-1222
Source:
Exprealty
Added: Jun 5
Changed: Oct 3
Last Checked: Oct 5 at 8:50PM
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
Investment Insights
Based on property information with market context.
This 1,740-square-foot duplex at 319-317 20th St in Ames includes two residential units within a historic brick building. The main-level apartment has 2 bedrooms and 1 bathroom, while the upper-level apartment provides 1 bedroom and 1 bathroom. Both units include hardwood flooring and appliances, with layouts that retain original architectural character. The property is sold AS IS.
A full basement provides laundry hookups, and the newer driveway supports off-street parking. Residents also have access to private yard space. Leases are secured through July 2027, providing established occupancy for the two-unit configuration.
A full basement provides laundry hookups, and the newer driveway supports off-street parking. Residents also have access to private yard space. Leases are secured through July 2027, providing established occupancy for the two-unit configuration.
Key Highlights
- 1,740 SF historic brick duplex in Ames
- Two units: 2‑bedroom/1‑bath main level and 1‑bedroom/1‑bath upper level
- 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.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with hardwood floors, included appliances, basement laundry hookups, off-street parking, and private yard space.
Where is this duplex located?
The property is located at 319-317 20th St 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: 1,740 SF historic brick duplex in Ames; Two units: 2‑bedroom/1‑bath main level and 1‑bedroom/1‑bath upper level; Leases secured through July 2027
