Ranch-Style Duplex with
For Sale
$199,900
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$89.88
Days on Market51
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:
Oakridge Real Estate
(319) 277-5005
Listed By:
Gale Bonsall
(319) 231-9700
Source:
Pinnaclerealtyia
Added: Sep 13
Changed: Oct 31
Last Checked: Nov 1 at 3:55AM
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 Oakridge Real Estate
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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 / Yr
$17,856
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
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
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 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 10.16%
Second Best
Apartment 5plus
$255.1K
$223.2K – $297.6K
NOI $17,856 @ 7.0% cap · market cap 8.93%
Theoretical Best
Mixed Use
$2.79M
$2.44M – $3.25M
NOI $195,156 @ 7.0% cap · market cap 97.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
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 $199,900.
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
