Duplex with Updated
New
For Sale
$199,999
5213 Morningside Ave, Sioux City, IA 51106
Two residential units each offer two bedrooms and one bathroom, with separate improvements to the HVAC and kitchen.
Property Size2,438 SF
Days on Market5
Property Features for 5213 Morningside Ave
General Information
Standard status
Active
Size
2,438 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Building Size
2,438 SF
Year Built
1900
Buildings
1
Listing Agency:
NAI United
Listed By:
Aidan Vanderloo · License ##S73073000
(712) 577-1267
Source:
Markhanson.kw
Added: Oct 29
Changed: Oct 30
Last Checked: Nov 1 at 2:24AM
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 NAI United
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Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two 2-bedroom, 1-bath units. One unit has a recently installed HVAC system, while the main-level residence has an updated kitchen.
The property is on Morningside Ave in Sioux City, with schools, shopping, and restaurants described as nearby. Showings require 24 hours’ notice.
The property is on Morningside Ave in Sioux City, with schools, shopping, and restaurants described as nearby. Showings require 24 hours’ notice.
Key Highlights
- Two units, each configured with 2 bedrooms and 1 bathroom
- Updated kitchen in the main‑level unit
- New HVAC system in one unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,121
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,420
$342.4K
Cap Rate 7%
$244,586
$244.6K
Cap Rate 9%
$190,233
$190.2K
Market Conditions
NOI Build-Up for 2,438 SF
Gross rent
$32.8K $13.44/SF
− Vacancy
−$1.6K −$0.67/SF
EGI
$31.1K $12.77/SF
− OpEx
−$14.0K −$5.75/SF
NOI
$17.1K $7.02/SF
Area
Woodbury County, IA
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,420
Cap Rate 7%
$244,586
Cap Rate 9%
$190,233
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$244.6K
$214.0K – $285.4K
NOI $17,121 @ 7.0% cap · market cap 8.56%
Theoretical Best
Specialty Retail
$366.4K
$320.6K – $427.4K
NOI $25,645 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each offer two bedrooms and one bathroom, with separate improvements to the HVAC and kitchen.
Where is this duplex located?
The property is located at 5213 Morningside Ave Sioux City, IA.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Two units, each configured with 2 bedrooms and 1 bathroom; Updated kitchen in the main‑level unit; New HVAC system in one unit
