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    Historic Four-Unit Duplex in Dubuque Title is generated by Realmo AI

    507-509 Chestnut Street, Dubuque, IA 52001

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    For Sale
    $395,000

    MULTI_FAMILY - Dubuque, IA

    Property size:
    4,480 SF
    Price / SF:
    $88/SF
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 7:06 am

    Property Features for 507-509 Chestnut Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RES
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 6, Bathroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 1
    Parking features
    On Street
    Basement
    Partial
    Appliances
    Refrigerator, Range, Dishwasher, Washer, Dryer
    Standard status
    Active
    APN
    1024378020 1024378019
    Size
    4,480 SF

    Taxes and HOA fees

    Tax Annual Amount
    2978

    Utilities

    Heating system
    Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1860
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Ann Williams
    Ann Williams

    Listing agent Ann Williams

    Listing office Ruhl & Ruhl Realtors 600 Star Brewery Drive Suite 300, Dubuque, IA

    Listing date May 19, 2026

    MLS# 154669 Listing URL

    Copyright © 2026 East Central Iowa Association 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.

    HighLights

    • Prime location in the 11th Street Historic District, walking distance to downtown Dubuque's amenities and close to Loras College and hospitals.
    • Four renovated units with a strong occupancy history, offering potential for long‑term rentals, owner‑occupancy with income, or vacation rentals.
    • Historic charm with original features like rich woodwork and exposed brick, combined with modern updates for comfortable living.
    • Recent updates include new electrical systems, roofing, flooring, appliances, paint, windows, and carpeting.
    • Built in the 1880s, the property features a charming upper balcony overlooking Chestnut Street.
    • Includes appliances: Refrigerator, Range, Dishwasher, Washer, and Dryer.

    Overview

    Located in the 11th Street Historic District, this four-unit duplex offers an opportunity to own a piece of Dubuque's architectural history. Constructed in the 1880s on Chestnut Street, the property combines historic charm with modern updates. The property is within walking distance of downtown Dubuque, providing access to the library, post office, seasonal farmers markets, local restaurants, coffee shops, entertainment venues, Loras College, and major hospitals. Each of the four units has been renovated, preserving the property's original character. Features include woodwork, exposed brick, and vintage architectural details. Recent improvements include an upper balcony overlooking Chestnut Street, updated electrical systems, roofing, flooring, appliances, paint, windows, and carpeting. The property has a strong occupancy history and is located in a desirable historic district. Potential uses include long-term rentals, owner-occupancy with supplemental income, or future vacation rental opportunities. The property size is 4480 square feet. The zoning is RES.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dubuque
    County
    Dubuque
    State
    Iowa
    Longitude
    -90.673271
    Latitude
    42.503567

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    FAQs

    What type of property is this?
    Quadplex - Four-unit duplex in Dubuque's historic district with modern updates.
    Where is this quadplex located?
    The property is located at 507-509 Chestnut Street Dubuque, IA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Prime location in the 11th Street Historic District, walking distance to downtown Dubuque's amenities and close to Loras College and hospitals.; Four renovated units with a strong occupancy history, offering potential for long‑term rentals, owner‑occupancy with income, or vacation rentals.; **Historic charm with original features like rich woodwork and exposed brick, combined with modern updates for comfortable living.**
    (563) 207-6770
    We can help!
    Listing Contact
    Ann Williams
    Ann Williams
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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