Two-Level
For Sale
$180,000
537 8TH Avenue, Marion, IA 52302
Residential income property with matching living arrangements near shopping, dining, schools, and local amenities.
Property Size1,683 SF
Price / SF$106.95
Days on Market165
Property Features for 537 8TH Avenue
General Information
Standard status
Active
Size
1,683 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Realty87
(319) 899-4705
Listed By:
Chris Puckett
(319) 899-4705
Source:
Cbhrealty
Added: Mar 20
Changed: Aug 31
Last Checked: Aug 31 at 7:31PM
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 Realty87
Investment Insights
Based on property information with market context.
This duplex offers two residential levels, each with two bedrooms and one bathroom. The 1,683-square-foot property was built in 1900 and provides an upper-level and lower-level living arrangement. Located at 537 8TH Avenue in Marion, Iowa, the property is near shopping, dining, schools, and other local amenities. The property information also notes a history of positive cash flow and reliable rental income.
Key Highlights
- 2 bedrooms and 1 bath on each residential level
- 1,683 square feet of property size
- Upper- and lower‑level duplex layout
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
$13,393
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
7.44%
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%
$267,860
$267.9K
Cap Rate 7%
$191,329
$191.3K
Cap Rate 9%
$148,811
$148.8K
Market Conditions
NOI Build-Up for 1,683 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
$20.6K $12.24/SF
− Vacancy
−$1.5K −$0.87/SF
EGI
$19.1K $11.37/SF
− OpEx
−$5.7K −$3.41/SF
NOI
$13.4K $7.96/SF
Area
Linn County, IA
Vacancy
7.12%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
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%
$267,860
Cap Rate 7%
$191,329
Cap Rate 9%
$148,811
Alternative Uses
Best Use
Multifamily LT 5
$191.3K
$167.4K – $223.2K
NOI $13,393 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$165.9K
$145.1K – $193.5K
NOI $11,610 @ 7.0% cap · market cap 6.45%
Theoretical Best
Self Storage
$283.2K
$247.8K – $330.5K
NOI $19,827 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 52302, IA
43,130
Population
18,153
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
580
Density / Sq Mi
$87,463
Median Household Income
$50,234
Median Earnings
$963
Median Rent
$232,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with matching living arrangements near shopping, dining, schools, and local amenities.
Where is this duplex located?
The property is located at 537 8TH Avenue Marion, IA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 2 bedrooms and 1 bath on each residential level; 1,683 square feet of property size; Upper- and lower‑level duplex layout
