Duplex with Private
For Sale
$279,900
Pending
4021/4023 79th St, Urbandale, IA 50322
Recent roof, siding, and HVAC updates complement a practical two-bedroom layout with included appliances.
Property Size1,493 SF
Days on Market70
Property Features for 4021/4023 79th St
General Information
Standard status
Pending
Size
1,493 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1972
Buildings
1
Listing Agency:
RE/MAX Precision
(515) 238-6210
Listed By:
Deb Stokka (515) 238-6210 · License #S535011000
Source:
Centraliowahomesearch
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 30 at 6:08PM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
This duplex at 4021/4023 79th St features a functional residential layout with two bedrooms, a full bathroom, a living/family room, and a kitchen equipped with cabinets and appliances. Laundry is located in the walk-out basement, while the property also includes private outdoor space and a yard.
Recent improvements include a new roof, siding, and HVAC system. Built in 1972, the property contains 1,493 square feet of property size and is located in Urbandale, Iowa, within the 50322 ZIP code.
Recent improvements include a new roof, siding, and HVAC system. Built in 1972, the property contains 1,493 square feet of property size and is located in Urbandale, Iowa, within the 50322 ZIP code.
Key Highlights
- Duplex at 4021/4023 79th St, Urbandale, IA 50322
- New roof, siding, and HVAC
- Two‑bedroom layout with a full bath
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
$13,246
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
4.73%
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%
$264,920
$264.9K
Cap Rate 7%
$189,229
$189.2K
Cap Rate 9%
$147,178
$147.2K
Market Conditions
NOI Build-Up for 1,493 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
$20.1K $13.44/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$18.9K $12.67/SF
− OpEx
−$5.7K −$3.80/SF
NOI
$13.2K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
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%
$264,920
Cap Rate 7%
$189,229
Cap Rate 9%
$147,178
Alternative Uses
Best Use
Multifamily LT 5
$189.2K
$165.6K – $220.8K
NOI $13,246 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$165.4K
$144.7K – $193.0K
NOI $11,578 @ 7.0% cap · market cap 4.14%
Theoretical Best
Flex RnD
$1.44M
$1.26M – $1.68M
NOI $100,604 @ 7.0% cap · market cap 35.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 50322, IA
31,652
Population
13,293
Households
2.4
Avg Household Size
40
Median Age
42%
College-Educated
93%
High-School Grad
10.8 sq mi
ZIP Area
2,931
Density / Sq Mi
$89,323
Median Household Income
$48,016
Median Earnings
$1,151
Median Rent
$263,900
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 - Recent roof, siding, and HVAC updates complement a practical two-bedroom layout with included appliances.
Where is this duplex located?
The property is located at 4021/4023 79th St Urbandale, IA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Duplex at 4021/4023 79th St, Urbandale, IA 50322; New roof, siding, and HVAC; Two‑bedroom layout with a full bath
