Two-Unit Duplex with Attached
621 & 623 Westgate Street, Iowa City, IA 52246
For Sale
$340,000
Multi-Family, Iowa City, IA
Property Size1,800 SF
Lot Size0.19 Acres
Price / SF$188.89
Days on Market51
Property Features for 621 & 623 Westgate Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Rooms
Parking
Elementary school
Middle school
High school
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
in-unit laundry
private yard
deck
patio
attached garage
off-street parking
Building Details
Year built
Number of units
Building materials
Listing Agency:
RE/MAX CONCEPTS · RE/MAX International
Listed By:
Debra Callahan · License IA B43172000
(319) 395-0101
Added: Sep 25
Changed: Nov 3
Last Checked: Nov 14 at 3:06AM
MLS# 2606740
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.
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Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex contains two residences: an upper-level three-bedroom, one-bath unit and a lower-level one-bedroom, one-bath unit. The lower residence has a walkout basement. Both units include laundry equipment and appliances, and the property has newer windows. The attached two-car garage provides storage for each tenant; off-street parking, a private yard, deck, and patio are also included. The property was built in 1971 on a 0.19-acre lot.
At 621 and 623 Westgate Street in Iowa City, the property is on a bus route near the University of Iowa campus, hospitals, Kinnick Stadium, shopping, and restaurants. Both residences are leased through July 28, 2027. Tenants pay utilities, while the owner handles lawn care and snow removal.
At 621 and 623 Westgate Street in Iowa City, the property is on a bus route near the University of Iowa campus, hospitals, Kinnick Stadium, shopping, and restaurants. Both residences are leased through July 28, 2027. Tenants pay utilities, while the owner handles lawn care and snow removal.
Key Highlights
- Two residences: a 3‑bedroom, 1‑bath upper unit and a 1‑bedroom, 1‑bath lower unit
- 1,800 square feet on a 0.19‑acre lot; built in 1971
- Attached 2‑car garage with storage for each tenant, plus off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,606
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,120
$332.1K
Cap Rate 7%
$237,229
$237.2K
Cap Rate 9%
$184,511
$184.5K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$24.8K $13.80/SF
− Vacancy
−$1.1K −$0.62/SF
EGI
$23.7K $13.18/SF
− OpEx
−$7.1K −$3.95/SF
NOI
$16.6K $9.23/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,120
Cap Rate 7%
$237,229
Cap Rate 9%
$184,511
Alternative Uses
Best Use
Multifamily LT 5
$237.2K
$207.6K – $276.8K
NOI $16,606 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$219.9K
$192.5K – $256.6K
NOI $15,396 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 52246, IA
22,829
Population
10,627
Households
2.1
Avg Household Size
29
Median Age
67%
College-Educated
95%
High-School Grad
16.7 sq mi
ZIP Area
1,367
Density / Sq Mi
$55,088
Median Household Income
$28,598
Median Earnings
$1,049
Median Rent
$327,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Johnson County, IA
Properties on Market for Duplexes in Johnson County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate laundry facilities and included appliances serve both residences, with tenants responsible for utilities.
Where is this duplex located?
The property is located at 621 & 623 Westgate Street Iowa City, IA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two residences: a 3‑bedroom, 1‑bath upper unit and a 1‑bedroom, 1‑bath lower unit; 1,800 square feet on a 0.19‑acre lot; built in 1971; Attached 2‑car garage with storage for each tenant, plus off‑street parking
