Duplex with Separate
New
For Sale
$177,000
339 30th Street Drive SE, Cedar Rapids, IA 52403
Two-unit residential property with individual utility service, in-unit appliances, basement storage, and attached garage improvements.
Property Size1,698 SF
Price / SF$104.24
Days on Market2
Property Features for 339 30th Street Drive SE
General Information
Standard status
Active
Size
1,698 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Res
Additional Details
Asking Price
$531,000
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,403
Amenities
refrigerator
stove/oven
dishwasher
washer/dryer hookups
basement storage
garages
Full
Yes
In Unit
Storage
Public
0.25
2
10,890
Parking Space(s)
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Cornerstone Real Estate Consultants
(319) 393-0900
Listed By:
Ryan Eighme
(319) 721-6099
Source:
Pinnaclerealtyia
Added: Sep 6
Last Checked: Sep 7 at 6:17AM
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 Cornerstone Real Estate Consultants
Investment Insights
Based on property information with market context.
This duplex at 339 30th Street Drive SE provides 1,698 square feet of residential space and was built in 1900. Each unit includes a refrigerator, stove/oven, dishwasher, and washer-and-dryer hookups, along with basement storage. Separate utility service allows occupants to handle their own utilities. The property also features updated vinyl siding, newer concrete driveways, and garages.
The duplex is zoned Res and is being offered as part of a portfolio that also includes 327 30th St Drive and 333 30th St Drive. Together, these details provide a defined residential income property configuration with unit-level utility separation and dedicated storage and parking-related improvements.
The duplex is zoned Res and is being offered as part of a portfolio that also includes 327 30th St Drive and 333 30th St Drive. Together, these details provide a defined residential income property configuration with unit-level utility separation and dedicated storage and parking-related improvements.
Key Highlights
- 1,698 SF duplex at 339 30th Street Drive SE, Cedar Rapids, IA 52403
- Separate utilities allow tenants to pay their own utility costs
- Each unit includes a refrigerator, stove/oven, dishwasher, and washer/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
$14,837
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
8.38%
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%
$296,740
$296.7K
Cap Rate 7%
$211,957
$212.0K
Cap Rate 9%
$164,856
$164.9K
Market Conditions
NOI Build-Up for 1,698 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
$22.8K $13.44/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$21.2K $12.48/SF
− OpEx
−$6.4K −$3.74/SF
NOI
$14.8K $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%
$296,740
Cap Rate 7%
$211,957
Cap Rate 9%
$164,856
Alternative Uses
Best Use
Multifamily LT 5
$212.0K
$185.5K – $247.3K
NOI $14,837 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$195.5K
$171.1K – $228.1K
NOI $13,684 @ 7.0% cap · market cap 7.73%
Theoretical Best
Specialty Retail
$245.8K
$215.0K – $286.7K
NOI $17,203 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
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 residential property with individual utility service, in-unit appliances, basement storage, and attached garage improvements.
Where is this duplex located?
The property is located at 339 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: 1,698 SF duplex at 339 30th Street Drive SE, Cedar Rapids, IA 52403; Separate utilities allow tenants to pay their own utility costs; Each unit includes a refrigerator, stove/oven, dishwasher, and washer/dryer hookups
