Two-Bedroom Condo with Detached
For Sale
$150,000
530 Iris Ave, Tiffin, IA 52340
Two-bedroom, one-bath condo with main-level living, gas fireplace, and detached one-car garage, sold with key kitchen appliances.
Property Size986 SF
Price / SF$152.13
Days on Market166
Property Features for 530 Iris Ave
General Information
Standard status
Active
Size
986 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,972
Amenities
3
100120
Building Details
Year Built
1997
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Monica Hayes · License #S61528
(319) 325-8659
Source:
Xome
Added: Mar 24
Changed: Sep 4
Last Checked: Sep 4 at 2:44AM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
This 2-bedroom, 1-bath condo offers 986 square feet of functional main-level living. The living room features a gas fireplace, and the kitchen and dining area include a breakfast bar. Included appliances are a dishwasher, microwave, range/oven, and refrigerator.
The unit is located in the community of Tiffin and is described as conveniently near schools, dining, and major highways.
Additional included feature is a detached one-car garage, supporting day-to-day storage and parking needs.
The unit is located in the community of Tiffin and is described as conveniently near schools, dining, and major highways.
Additional included feature is a detached one-car garage, supporting day-to-day storage and parking needs.
Key Highlights
- 2‑bedroom, 1‑bath condo with 986 SF of main‑level living
- Living room includes a gas fireplace
- Kitchen and dining area feature a breakfast bar and include appliances: dishwasher, microwave, range/oven, and refrigerator
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
$8,434
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%
$168,680
$168.7K
Cap Rate 7%
$120,486
$120.5K
Cap Rate 9%
$93,711
$93.7K
Market Conditions
NOI Build-Up for 986 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
$16.0K $16.20/SF
− Vacancy
−$639 −$0.65/SF
EGI
$15.3K $15.55/SF
− OpEx
−$6.9K −$7.00/SF
NOI
$8.4K $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%
$168,680
Cap Rate 7%
$120,486
Cap Rate 9%
$93,711
Alternative Uses
Best Use
Apartment 5plus
$120.5K
$105.4K – $140.6K
NOI $8,434 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.2K
$187.4K – $249.9K
NOI $14,994 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 52340, IA
4,810
Population
2,400
Households
2
Avg Household Size
33
Median Age
58%
College-Educated
99%
High-School Grad
19.1 sq mi
ZIP Area
252
Density / Sq Mi
$105,517
Median Household Income
$67,275
Median Earnings
$1,336
Median Rent
$317,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, one-bath condo with main-level living, gas fireplace, and detached one-car garage, sold with key kitchen appliances.
Where is this residential income property located?
The property is located at 530 Iris Ave Tiffin, IA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath condo with 986 SF of main‑level living; Living room includes a gas fireplace; Kitchen and dining area feature a breakfast bar and include appliances: dishwasher, microwave, range/oven, and refrigerator
