Residential Income
New
For Sale
$275,000
4705 Herbert Hoover Hwy, Iowa City, IA 52240
The home is leased through July 2027 and includes recent appliance, paint, and flooring updates.
Property Size1,641 SF
Price / SF$167.58
Days on Market4
Property Features for 4705 Herbert Hoover Hwy
General Information
Standard status
Active
Size
1,641 SF
Property subtype
IncomeInvestment
Financials
Average Monthly Rent
$1,985
HOA Fee
$185
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,698
Building Details
Building Size
1,641 SF
Year Built
2018
Listing Agency:
Edge Realty Group
Listed By:
Chris Lehman
(319) 330-8230
Source:
Blankandmccune
Added: Oct 26
Last Checked: Oct 26 at 3:43PM
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
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Investment Insights
Based on property information with market context.
Built in 2018, this 1,641-square-foot residential income property has updated kitchen appliances, paint, and flooring. The exterior photographs show a similar unit, so they do not depict this property's exterior.
The property is at 4705 Herbert Hoover Hwy in Iowa City, minutes from I-80 and downtown. A monthly HOA fee covers lawn care, snow removal, exterior and grounds maintenance, building and liability insurance, street maintenance, and the reserve fund. The current lease runs through July 2027 at $1,985 per month.
The property is at 4705 Herbert Hoover Hwy in Iowa City, minutes from I-80 and downtown. A monthly HOA fee covers lawn care, snow removal, exterior and grounds maintenance, building and liability insurance, street maintenance, and the reserve fund. The current lease runs through July 2027 at $1,985 per month.
Key Highlights
- 1,641‑square‑foot residential income property built in 2018
- Leased through July 2027 at $1,985 per month
- Recent kitchen appliance, paint, and flooring updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,036
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,720
$280.7K
Cap Rate 7%
$200,514
$200.5K
Cap Rate 9%
$155,956
$156.0K
Market Conditions
NOI Build-Up for 1,641 SF
Gross rent
$26.6K $16.20/SF
− Vacancy
−$1.1K −$0.65/SF
EGI
$25.5K $15.55/SF
− OpEx
−$11.5K −$7.00/SF
NOI
$14.0K $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 Rate 5%
$280,720
Cap Rate 7%
$200,514
Cap Rate 9%
$155,956
Alternative Uses
Best Use
Apartment 5plus
$200.5K
$175.5K – $233.9K
NOI $14,036 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.5K
$311.9K – $415.9K
NOI $24,954 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The home is leased through July 2027 and includes recent appliance, paint, and flooring updates.
Where is this residential income property located?
The property is located at 4705 Herbert Hoover Hwy Iowa City, IA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,641‑square‑foot residential income property built in 2018; Leased through July 2027 at $1,985 per month; Recent kitchen appliance, paint, and flooring updates
