Two-Unit Duplex Income
537 8th Avenue Marion, IA 52302
For Sale
$180,000
MULTI_FAMILY - Marion, IA
Property Size1,683 SF
Price / SF$106.95
Days on Market52
Property Features for 537 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3
Standard status
Active
APN
140113100500000
Size
1,683 SF
Taxes and HOA fees
Tax Description
N1/2 Lot 7 in Lot 8 Irr
Tax Annual Amount
1747
Building Details
Year built
1900
Number of units
2
Building materials
Frame
Listing Agency:
Realty87
(319) 378-8760
Listed By:
Chris Puckett
(319) 367-8760
Added: Jun 8
Changed: Jul 28
Last Checked: Jul 29 at 1:06PM
MLS# 2604085
Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex is a two-unit residential income property with two bedrooms and one bath on the lower level and two bedrooms and one bath on the upper level. The property is described as well-maintained and configured to support separate household use within a single building.
Located at 537 8th Avenue in Marion, Iowa (Linn County), the home is positioned near shopping, dining, schools, and local amenities, providing convenient access to everyday services.
The layout makes the property a practical fit for buyers seeking an income-focused owner-occupied arrangement or straightforward rental operations with consistent unit types. With both units featuring two bedrooms and one bath, it may be easier to market to similar tenant groups seeking like-for-like accommodations.
Located at 537 8th Avenue in Marion, Iowa (Linn County), the home is positioned near shopping, dining, schools, and local amenities, providing convenient access to everyday services.
The layout makes the property a practical fit for buyers seeking an income-focused owner-occupied arrangement or straightforward rental operations with consistent unit types. With both units featuring two bedrooms and one bath, it may be easier to market to similar tenant groups seeking like-for-like accommodations.
Key Highlights
- Duplex with Frame construction and 1900 year built
- Lower level unit layout: 2 bedrooms and 1 bathroom
- Upper level unit layout: 2 bedrooms and 1 bathroom
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.6k | $12.24 |
| − Vacancy | −$1.5k | −$0.87 |
| EGI | $19.1k | $11.37 |
| − OpEx | −$5.7k | −$3.41 |
| NOI | $13.4k | $7.96 |
1,683 SF · lease $12.24/SF/yr · vacancy 7.12% · expense 30.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - A well-maintained duplex offering two two-bedroom, one-bath units with independent living arrangements.
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: Duplex with Frame construction and 1900 year built; Lower level unit layout: 2 bedrooms and 1 bathroom; Upper level unit layout: 2 bedrooms and 1 bathroom
