Duplex with Garages and
New
For Sale
$177,000
327 30th Street Drive SE, Cedar Rapids, IA 52403
Two-unit property with separate utilities, tenant appliance packages, basement storage, and dedicated parking.
Property Size1,628 SF
Price / SF$108.72
Days on Market2
Property Features for 327 30th Street Drive SE
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$531,000
Taxes and HOA fees
Annual Taxes
$2,668
Amenities
refrigerator
stove/oven
dishwasher
washer/dryer hookups
basement storage
Full
Yes
Storage
Public
0.18
7,712
Parking Space(s)
Building Details
Year Built
1915
Buildings
2
Listing Agency:
Skogman Realty Co.
(319) 393-0900
Listed By:
Tatiana McClinton
(319) 270-6253
Source:
Pinnaclerealtyia
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 7 at 5:22AM
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 Skogman Realty Co.
Investment Insights
Based on property information with market context.
This duplex contains two residential units with separate utilities, allowing each tenant to manage individual utility service. Each unit includes a refrigerator, stove/oven, dishwasher, and washer and dryer hookups, along with basement storage. The property offers 1,628 square feet of building area and was constructed in 1915.
Exterior improvements include updated vinyl siding, newer concrete drives, garages, and parking space(s). The property occupies a 0.18-acre lot with 7,712 square feet of land area and is part of a portfolio that also includes 339 30th St Drive and 333 30th St Drive.
Exterior improvements include updated vinyl siding, newer concrete drives, garages, and parking space(s). The property occupies a 0.18-acre lot with 7,712 square feet of land area and is part of a portfolio that also includes 339 30th St Drive and 333 30th St Drive.
Key Highlights
- Two‑unit duplex with 1,628 square feet of building area
- Separate utilities support tenant‑paid utility service
- Each unit includes a refrigerator, stove/oven, dishwasher, and washer and dryer hookups
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
$14,226
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
8.04%
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%
$284,520
$284.5K
Cap Rate 7%
$203,229
$203.2K
Cap Rate 9%
$158,067
$158.1K
Market Conditions
NOI Build-Up for 1,628 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
$21.9K $13.44/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$20.3K $12.48/SF
− OpEx
−$6.1K −$3.74/SF
NOI
$14.2K $8.74/SF
Area
Cedar Rapids, IA
Vacancy
7.12%
Lease Rate
$13.44 /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%
$284,520
Cap Rate 7%
$203,229
Cap Rate 9%
$158,067
Alternative Uses
Best Use
Multifamily LT 5
$203.2K
$177.8K – $237.1K
NOI $14,226 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$187.4K
$164.0K – $218.7K
NOI $13,119 @ 7.0% cap · market cap 7.41%
Theoretical Best
Specialty Retail
$235.6K
$206.2K – $274.9K
NOI $16,494 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 52403, IA
23,012
Population
10,759
Households
2.1
Avg Household Size
41
Median Age
40%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
875
Density / Sq Mi
$73,848
Median Household Income
$46,148
Median Earnings
$857
Median Rent
$190,700
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 separate utilities, tenant appliance packages, basement storage, and dedicated parking.
Where is this duplex located?
The property is located at 327 30th Street Drive SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $177,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,628 square feet of building area; Separate utilities support tenant‑paid utility service; Each unit includes a refrigerator, stove/oven, dishwasher, and washer and dryer hookups
