Ranch-Style Duplex with
New
For Sale
$219,900
322 W Seerley Boulevard, Cedar Falls, IA 50613
R-2 duplex near the UNI campus with finished lower-level space and paved parking.
Property Size2,224 SF
Price / SF$98.88
Days on Market4
Property Features for 322 W Seerley Boulevard
General Information
Standard status
Active
Size
2,224 SF
Property subtype
Multi-Family
Zoning
R-2
Lease Term
Month To Month
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updating
Units
Unit Mix
1 x 3BR, 1 x 4BR
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,050
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,342
Amenities
Block,Entrance-Inside,Entrance-Outside,Floor Drain,Partially Finished,Walk-Out Access
1st Floor,Dryer Hookup-Ele,Lower Level,Washer Hookup
1112
Corner Lot
Public
71x120
Over 1 Space,Paved,On Street,Attached
Breezeway
Hard Surface Road
Building Details
Year Built
1959
Buildings
1
Stories
1
Construction
ranch
Tenancy
Multi
Listing Agency:
Edge Realty Group
(319) 393-0900
Listed By:
Jaime Hymer
(319) 651-9617
Source:
Pinnaclerealtyia
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 15 at 4:53AM
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 Edge Realty Group
Investment Insights
Based on property information with market context.
This ranch-style duplex at 322 W Seerley Boulevard offers 2,224 square feet of living area on a 71-by-120-foot corner lot. The main floor includes 3 bedrooms, while the finished lower level provides 4 additional bedrooms, walk-out access, interior and exterior entrances, and washer and dryer hookups. One unit has new flooring and remodeling, and the lower level has been professionally waterproofed.
The property is located in Cedar Falls, 6 blocks from the UNI campus, with access from a hard-surface road. Parking includes a paved attached area along with on-street spaces. R-2 zoning, a breezeway, floor drain, and partially finished lower-level space add to the property's existing configuration. Built in 1959, the duplex presents an established residential income property with room for further cosmetic updating.
The property is located in Cedar Falls, 6 blocks from the UNI campus, with access from a hard-surface road. Parking includes a paved attached area along with on-street spaces. R-2 zoning, a breezeway, floor drain, and partially finished lower-level space add to the property's existing configuration. Built in 1959, the duplex presents an established residential income property with room for further cosmetic updating.
Key Highlights
- 2,224 SF ranch‑style duplex on a 71x120 corner lot
- 3 bedrooms on the main floor and 4 bedrooms in the finished lower level
- 6 blocks to the UNI campus
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
$17,856
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
8.12%
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%
$357,120
$357.1K
Cap Rate 7%
$255,086
$255.1K
Cap Rate 9%
$198,400
$198.4K
Market Conditions
NOI Build-Up for 2,224 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
$34.4K $15.48/SF
− Vacancy
−$2.0K −$0.88/SF
EGI
$32.5K $14.60/SF
− OpEx
−$14.6K −$6.57/SF
NOI
$17.9K $8.03/SF
Area
Black Hawk County, IA
Vacancy
5.70%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
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%
$357,120
Cap Rate 7%
$255,086
Cap Rate 9%
$198,400
Alternative Uses
Best Use
Multifamily LT 5
$290.3K
$254.0K – $338.7K
NOI $20,319 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$255.1K
$223.2K – $297.6K
NOI $17,856 @ 7.0% cap · market cap 8.12%
Theoretical Best
Mixed Use
$2.79M
$2.44M – $3.25M
NOI $195,156 @ 7.0% cap · market cap 88.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - R-2 duplex near the UNI campus with finished lower-level space and paved parking.
Where is this duplex located?
The property is located at 322 W Seerley Boulevard Cedar Falls, IA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 2,224 SF ranch‑style duplex on a 71x120 corner lot; 3 bedrooms on the main floor and 4 bedrooms in the finished lower level; 6 blocks to the UNI campus
