2-Unit
For Sale
$179,900
4103 Davis Ave, Sioux City, IA 51106
Multi-Unit, Sioux City, IA
Property Size1,394 SF
Lot Size0.11 Acres
Price / SF$129.05
Days on Market60
Property Features for 4103 Davis Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Elementary school
Spalding
Middle school
East Middle
High school
East High
Subdivision
Mside North
Standard status
Active
APN
884706227021
Size
1,394 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CHENEYS 2ND W 50 FT LOTS 12-13 B LK 15
Tax Annual Amount
2320
Legal Description
CHENEYS 2ND W 50 FT LOTS 12-13 B LK 15
Utilities
Heating system
Forced Air
Building Details
Year built
1920
Number of units
2
Listing Agency:
Riverstone Realty
(712) 899-6813
Listed By:
Tori Jackson
(712) 259-4853
Added: Aug 5
Changed: Oct 2
Last Checked: Oct 3 at 12:06AM
MLS# 834096
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
At 4103 Davis Ave in Sioux City, this duplex contains two distinct living units: a two-bedroom unit and a studio. The building has 1,394 square feet and was built in 1920. Forced-air heating serves the property, which is currently used for short-term rentals.
The parcel measures 0.11 acres and is zoned Res.
The parcel measures 0.11 acres and is zoned Res.
Key Highlights
- Two rental units: a two‑bedroom unit and a studio
- 1,394 square feet of building area
- 0.11‑acre parcel, zoned Res
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
$10,596
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
5.89%
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%
$211,920
$211.9K
Cap Rate 7%
$151,371
$151.4K
Cap Rate 9%
$117,733
$117.7K
Market Conditions
NOI Build-Up for 1,394 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
$15.9K $11.40/SF
− Vacancy
−$755 −$0.54/SF
EGI
$15.1K $10.86/SF
− OpEx
−$4.5K −$3.26/SF
NOI
$10.6K $7.60/SF
Area
Woodbury County, IA
Vacancy
4.75%
Lease Rate
$11.40 /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%
$211,920
Cap Rate 7%
$151,371
Cap Rate 9%
$117,733
Alternative Uses
Best Use
Multifamily LT 5
$151.4K
$132.5K – $176.6K
NOI $10,596 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$139.8K
$122.4K – $163.2K
NOI $9,789 @ 7.0% cap · market cap 5.44%
Theoretical Best
Specialty Retail
$209.5K
$183.3K – $244.4K
NOI $14,663 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The property contains a two-bedroom residence and a separate studio, both used as short-term rentals.
Where is this duplex located?
The property is located at 4103 Davis Ave Sioux City, IA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two rental units: a two‑bedroom unit and a studio; 1,394 square feet of building area; 0.11‑acre parcel, zoned Res
