Two-Bedroom
For Sale
$175,000
Pending
4453 Berkeley Ln, Iowa City, IA 52245
Flat-style residence with a private primary bath, gas fireplace, screened porch, and detached garage.
Property Size1,150 SF
Days on Market134
Property Features for 4453 Berkeley Ln
General Information
Standard status
Pending
Size
1,150 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Average Monthly Rent
$1,250
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,066
Amenities
3
Building Details
Year Built
2003
Listing Agency:
Edge Realty Group
(319) 351-3355
Listed By:
Tim Lehman
Source:
Xome
Added: Apr 19
Changed: Aug 29
Last Checked: Aug 30 at 2:22PM
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 Edge Realty Group
Investment Insights
Based on property information with market context.
This flat-style condominium provides 1,150 square feet with two bedrooms and two bathrooms, including a primary suite with its own bath. Interior features include a spacious living room with a gas fireplace, a kitchen with breakfast bar, and a separate dining area. A screened porch faces open green space, while the detached two-car garage adds dedicated parking and storage. The property was built in 2003.
The residence is near walking trails, served by a bus route, and offers access to downtown. It is currently rented through 2/28/2027. Showings require 24 hours’ notice, with closing scheduled for August.
The residence is near walking trails, served by a bus route, and offers access to downtown. It is currently rented through 2/28/2027. Showings require 24 hours’ notice, with closing scheduled for August.
Key Highlights
- Two‑bedroom, two‑bath condominium with 1,150 SF
- Primary suite includes a private bath
- Screened porch overlooks open green space
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
$9,837
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
5.62%
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%
$196,740
$196.7K
Cap Rate 7%
$140,529
$140.5K
Cap Rate 9%
$109,300
$109.3K
Market Conditions
NOI Build-Up for 1,150 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
$18.6K $16.20/SF
− Vacancy
−$745 −$0.65/SF
EGI
$17.9K $15.55/SF
− OpEx
−$8.0K −$7.00/SF
NOI
$9.8K $8.55/SF
Area
Johnson County, IA
Vacancy
4.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$196,740
Cap Rate 7%
$140,529
Cap Rate 9%
$109,300
Alternative Uses
Best Use
Apartment 5plus
$140.5K
$123.0K – $164.0K
NOI $9,837 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.8K
$218.6K – $291.5K
NOI $17,487 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Flat-style residence with a private primary bath, gas fireplace, screened porch, and detached garage.
Where is this residential income property located?
The property is located at 4453 Berkeley Ln Iowa City, IA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with 1,150 SF; Primary suite includes a private bath; Screened porch overlooks open green space
