Two-Level
For Sale
$180,000
Pending
537 8th Avenue, Marion, IA 52302
Residential income property with matching living arrangements near shopping, dining, schools, and local amenities.
Property Size1,683 SF
Days on Market131
Property Features for 537 8th Avenue
General Information
Standard status
Pending
Size
1,683 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,747
Amenities
Public
46 X 125
Building Details
Year Built
1900
Listing Agency:
SKOGMAN REALTY
(319) 393-0900
Listed By:
Lydia Fitzgerald
(319) 213-1157
Source:
Pinnaclerealtyia
Added: Jun 8
Changed: Oct 15
Last Checked: Oct 16 at 6:05AM
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 SKOGMAN REALTY
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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 / Yr
$13,393
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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
