Residential Income Property with Walk-Out
New
For Sale
$345,000
613 Maddie Lane, Tiffin, IA 52340
The condo includes a finished garage, fenced outdoor area, and appliances.
Property Size1,878 SF
Price / SF$183.71
Days on Market3
Property Features for 613 Maddie Lane
General Information
Standard status
Active
Size
1,878 SF
Property subtype
ZeroLot
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,462
Amenities
electric fireplace
deck
fence
garage
Building Details
Building Size
1,878 SF
Year Built
2024
Listing Agency:
Keller Williams Advantage
Listed By:
Doris Ackerman
(319) 361-2934
Source:
Blankandmccune
Added: Oct 26
Last Checked: Oct 26 at 2:37PM
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 Keller Williams Advantage
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Investment Insights
Based on property information with market context.
This 2024-built condo at 613 Maddie Lane offers 1,878 square feet with three bedrooms and three full bathrooms. The open living area includes an electric fireplace and white cabinetry. A walk-out basement provides additional interior space, while oversized closets and lower-level storage add storage options. The property also has a deck, a finished painted garage, and a fence. Washer, dryer, refrigerator, and other appliances are included.
The condo is in Tiffin, Iowa, and has no HOA fees.
The condo is in Tiffin, Iowa, and has no HOA fees.
Key Highlights
- Three bedrooms and three full bathrooms
- 1,878 square feet; built in 2024
- Walk‑out basement with lower‑level storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,064
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,280
$321.3K
Cap Rate 7%
$229,486
$229.5K
Cap Rate 9%
$178,489
$178.5K
Market Conditions
NOI Build-Up for 1,878 SF
Gross rent
$30.4K $16.20/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$29.2K $15.55/SF
− OpEx
−$13.1K −$7.00/SF
NOI
$16.1K $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 Rate 5%
$321,280
Cap Rate 7%
$229,486
Cap Rate 9%
$178,489
Alternative Uses
Best Use
Apartment 5plus
$229.5K
$200.8K – $267.7K
NOI $16,064 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.0K
$357.0K – $476.0K
NOI $28,558 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes a finished garage, fenced outdoor area, and appliances.
Where is this residential income property located?
The property is located at 613 Maddie Lane Tiffin, IA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three bedrooms and three full bathrooms; 1,878 square feet; built in 2024; Walk‑out basement with lower‑level storage
