Updated Two-Unit
For Sale
$164,500
Pending
320 Ohio St, Waterloo, IA 50702
Two residential units feature refreshed interiors, separate utility metering, and a detached double garage for parking or storage.
Property Size1,440 SF
Days on Market38
Property Features for 320 Ohio St
General Information
Standard status
Pending
Size
1,440 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,078
Amenities
double garage
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Berkshire Hathaway Home Services One Realty Centre
(319) 415-0405
Listed By:
Dean Noland
(319) 415-0405
Source:
Exprealty
Added: Jul 6
Changed: Aug 11
Last Checked: Aug 11 at 11:25AM
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 Berkshire Hathaway Home Services One Realty Centre
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bath units within a 1,440-square-foot property. Each unit has separate electrical and water meters, updated kitchen cabinets, newer carpet, and updated vinyl windows. Vinyl siding reduces exterior maintenance, while a new roof installed in 2020 adds a recent capital improvement. A 528-square-foot double garage provides additional enclosed space for parking or storage.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,440 square feet with separate electrical and water meters for each unit
- 528 sq. ft. double garage for parking or storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,156
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$263,120
$263.1K
Cap Rate 7%
$187,943
$187.9K
Cap Rate 9%
$146,178
$146.2K
Market Conditions
NOI Build-Up for 1,440 SF
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.
Gross rent
$19.9K $13.80/SF
− Vacancy
−$1.1K −$0.75/SF
EGI
$18.8K $13.05/SF
− OpEx
−$5.6K −$3.92/SF
NOI
$13.2K $9.14/SF
Area
Black Hawk County, IA
Vacancy
5.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$263,120
Cap Rate 7%
$187,943
Cap Rate 9%
$146,178
Alternative Uses
Best Use
Multifamily LT 5
$187.9K
$164.5K – $219.3K
NOI $13,156 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$165.2K
$144.5K – $192.7K
NOI $11,561 @ 7.0% cap · market cap 7.03%
Theoretical Best
Mixed Use
$1.81M
$1.58M – $2.11M
NOI $126,360 @ 7.0% cap · market cap 76.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 50702, IA
20,447
Population
9,722
Households
2.1
Avg Household Size
37
Median Age
21%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
2,086
Density / Sq Mi
$59,784
Median Household Income
$38,826
Median Earnings
$926
Median Rent
$145,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature refreshed interiors, separate utility metering, and a detached double garage for parking or storage.
Where is this duplex located?
The property is located at 320 Ohio St Waterloo, IA.
What is the asking price?
The asking price for this property is $164,500.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,440 square feet with separate electrical and water meters for each unit; 528 sq. ft. double garage for parking or storage
