Two-Unit Duplex
For Sale
$159,999
425 & 425 1/2 Webster Street, Waterloo, IA 50703
R-1-zoned residential asset with two matching two-bedroom, one-bathroom units and paved parking access.
Property Size1,442 SF
Price / SF$110.96
Days on Market10
Property Features for 425 & 425 1/2 Webster Street
General Information
Standard status
Active
Size
1,442 SF
Property subtype
Multi-Family
Zoning
R-1
Lease Term
6 Months
Taxes and HOA fees
Annual Taxes
$948
Amenities
Block,Entrance-Inside
Lower Level
721
848
Public
60 x 140
Parking Pad,Paved,On Street,None
Building Details
Year Built
1920
Listing Agency:
GATEWAY ACCESS REALTY
(319) 270-3747
Listed By:
Tina Wing
(319) 270-3747
Source:
Pinnaclerealtyia
Added: Aug 9
Changed: Aug 17
Last Checked: Aug 18 at 4:22AM
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 GATEWAY ACCESS REALTY
Investment Insights
Based on property information with market context.
This duplex property contains two residential units, each arranged with two bedrooms and one bathroom. The building provides 1,442 SF of property area and includes lower-level space. Interior unit measurements of 721 and 848 are also provided. Built in 1920, the property is zoned R-1.
The asset is located at 425 & 425 1/2 Webster Street in Waterloo, Iowa. The 60 x 140 site includes a paved parking pad, on-street parking, and public access. The property offers a straightforward two-unit configuration within a residential setting.
The asset is located at 425 & 425 1/2 Webster Street in Waterloo, Iowa. The 60 x 140 site includes a paved parking pad, on-street parking, and public access. The property offers a straightforward two-unit configuration within a residential setting.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- 1,442 SF property area
- R‑1 zoning
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
$13,175
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
8.23%
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%
$263,500
$263.5K
Cap Rate 7%
$188,214
$188.2K
Cap Rate 9%
$146,389
$146.4K
Market Conditions
NOI Build-Up for 1,442 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
$19.9K $13.80/SF
− Vacancy
−$1.1K −$0.75/SF
EGI
$18.8K $13.05/SF
− OpEx
−$5.6K −$3.92/SF
NOI
$13.2K $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%
$263,500
Cap Rate 7%
$188,214
Cap Rate 9%
$146,389
Alternative Uses
Best Use
Multifamily LT 5
$188.2K
$164.7K – $219.6K
NOI $13,175 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$165.4K
$144.7K – $193.0K
NOI $11,577 @ 7.0% cap · market cap 7.24%
Theoretical Best
Mixed Use
$1.81M
$1.58M – $2.11M
NOI $126,536 @ 7.0% cap · market cap 79.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 50703, IA
18,913
Population
8,705
Households
2.2
Avg Household Size
38
Median Age
13%
College-Educated
87%
High-School Grad
93.2 sq mi
ZIP Area
203
Density / Sq Mi
$49,412
Median Household Income
$33,105
Median Earnings
$926
Median Rent
$92,500
Median Home Value
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 - R-1-zoned residential asset with two matching two-bedroom, one-bathroom units and paved parking access.
Where is this duplex located?
The property is located at 425 & 425 1/2 Webster Street Waterloo, IA.
What is the asking price?
The asking price for this property is $159,999.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; 1,442 SF property area; R‑1 zoning
