Updated Duplex with Modern
New
For Sale
$239,900
336 S Hackett Road, Waterloo, IA 50701
Two residential units offer refreshed interiors, finished basements, and recent mechanical and exterior improvements.
Property Size1,954 SF
Price / SF$122.77
Days on Market7
Property Features for 336 S Hackett Road
General Information
Standard status
Active
Size
1,954 SF
Property subtype
Multi-Family
Zoning
R-1
Lease Term
Month To Month
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,585
Amenities
Block
Lower Level
1056
Public
100 x 400
Gravel,On Street,Over 1 Space,Parking Pad,None
Hard Surface Road
Building Details
Year Built
1903
Buildings
1
Listing Agency:
Miehe Commercial Real Estate
(641) 781-0867
Listed By:
Lisa Coots-Schooley
(641) 781-0867
Source:
Pinnaclerealtyia
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 4:49AM
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 Miehe Commercial Real Estate
Investment Insights
Based on property information with market context.
This two-unit residential property combines refreshed interiors with substantial systems work. Each unit includes an updated kitchen with newer cabinetry, countertops, flooring, and appliances, along with improved dining and living areas. The upper level in each unit has two bedrooms with oversized closets and a renovated full bathroom. Clean, dry basements provide laundry areas with washers and dryers.
Major improvements include new wiring, replacement windows, newer water heaters, and a furnace and A/C installed approximately 6 years ago. The roof and siding were replaced in 2018. Built in 1903, the property contains 1,954 square feet and is zoned R-1.
Major improvements include new wiring, replacement windows, newer water heaters, and a furnace and A/C installed approximately 6 years ago. The roof and siding were replaced in 2018. Built in 1903, the property contains 1,954 square feet and is zoned R-1.
Key Highlights
- Two‑unit property with 1,954 square feet
- Both kitchens feature newer cabinets, countertops, flooring, and appliances
- Each unit has two bedrooms with oversized closets
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
$17,853
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
7.44%
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%
$357,060
$357.1K
Cap Rate 7%
$255,043
$255.0K
Cap Rate 9%
$198,367
$198.4K
Market Conditions
NOI Build-Up for 1,954 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
$27.0K $13.80/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$25.5K $13.05/SF
− OpEx
−$7.7K −$3.92/SF
NOI
$17.9K $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%
$357,060
Cap Rate 7%
$255,043
Cap Rate 9%
$198,367
Alternative Uses
Best Use
Multifamily LT 5
$255.0K
$223.2K – $297.6K
NOI $17,853 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$224.1K
$196.1K – $261.5K
NOI $15,688 @ 7.0% cap · market cap 6.54%
Theoretical Best
Mixed Use
$2.45M
$2.14M – $2.86M
NOI $171,464 @ 7.0% cap · market cap 71.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 50701, IA
29,806
Population
14,530
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
95%
High-School Grad
79.1 sq mi
ZIP Area
377
Density / Sq Mi
$62,857
Median Household Income
$41,464
Median Earnings
$846
Median Rent
$183,400
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 residential units offer refreshed interiors, finished basements, and recent mechanical and exterior improvements.
Where is this duplex located?
The property is located at 336 S Hackett Road Waterloo, IA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit property with 1,954 square feet; Both kitchens feature newer cabinets, countertops, flooring, and appliances; Each unit has two bedrooms with oversized closets
