Two-Unit Duplex
For Sale
$585,000
530 E Washington St, Iowa City, IA 52240
Two residential units near the University of Iowa campus and downtown Iowa City support a convenient rental setting.
Property Size1,960 SF
Lot Size0.41 Acres
Price / SF$298.47
Days on Market93
Property Features for 530 E Washington St
General Information
Standard status
Active
Size
1,960 SF
Lot size
0.41 Acres
Property subtype
Multi-Family
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Urban Acres Real Estate Corridor
(800) 746-9464
Listed By:
Matt Smith Team
(319) 431-5859
Source:
Mattsmithteam
Added: Aug 2
Changed: Oct 31
Last Checked: Nov 1 at 5:28AM
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 Urban Acres Real Estate Corridor
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Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two residential units within one building, with a combined 1,960 square feet. The property includes eight bedrooms and three bathrooms, providing a substantial residential configuration on a 0.41-acre parcel.
The address is near the University of Iowa campus, University of Iowa Health Care, downtown Iowa City, and major employment centers. A 6.40% cap rate is reported for the offering, while the property's proximity to university, health care, downtown, and employment destinations places it within an established rental market.
The address is near the University of Iowa campus, University of Iowa Health Care, downtown Iowa City, and major employment centers. A 6.40% cap rate is reported for the offering, while the property's proximity to university, health care, downtown, and employment destinations places it within an established rental market.
Key Highlights
- Two residential units in one duplex building
- Eight bedrooms and three bathrooms
- 1,960 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,082
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,640
$361.6K
Cap Rate 7%
$258,314
$258.3K
Cap Rate 9%
$200,911
$200.9K
Market Conditions
NOI Build-Up for 1,960 SF
Gross rent
$27.0K $13.80/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$25.8K $13.18/SF
− OpEx
−$7.7K −$3.95/SF
NOI
$18.1K $9.23/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,640
Cap Rate 7%
$258,314
Cap Rate 9%
$200,911
Alternative Uses
Best Use
Multifamily LT 5
$258.3K
$226.0K – $301.4K
NOI $18,082 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$425.8K
$372.6K – $496.8K
NOI $29,805 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units near the University of Iowa campus and downtown Iowa City support a convenient rental setting.
Where is this duplex located?
The property is located at 530 E Washington St Iowa City, IA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two residential units in one duplex building; Eight bedrooms and three bathrooms; 1,960 square feet of property size
