4-Unit Apartment
New
For Sale
$270,000
706 W 12th Street, Cedar Falls, IA 50613
Individual electric meters serve the residences, each configured with one bedroom and one bathroom.
Property Size2,071 SF
Price / SF$130.37
Days on Market2
Property Features for 706 W 12th Street
General Information
Standard status
Active
Size
2,071 SF
Property subtype
Multi-Family
Zoning
R-M
Occupancy
75%
Lease Term
Over 9 Months
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,945
Amenities
Stone/Rock
1049
794
Public
78x132
0.24
Garage,Parking Space,Paved,Detached
Hard Surface Road
Building Details
Year Built
1900
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Concepts - Cedar Falls
(319) 393-0900
Listed By:
Emmaleigh Buck
(319) 899-2536
Source:
Pinnaclerealtyia
Added: Oct 7
Last Checked: Oct 7 at 2:27PM
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 RE/MAX Concepts - Cedar Falls
Investment Insights
Based on property information with market context.
This 4-unit apartment property contains 2,071 square feet and dates to 1900. Each residence has one bedroom, one bathroom, a refrigerator, and a stove. Three units are leased, with a lease for the remaining unit scheduled to begin in May. The property has individual electric meters, a detached garage, paved parking, and R-M zoning. The parcel is 0.24 acres with dimensions of 78x132.
Property work during the current ownership has included interior paint, plumbing, flooring, and kitchen and bathroom updates. Siding and window casings were replaced in 2024. The owner covers gas, water, lawn care, and snow removal.
Property work during the current ownership has included interior paint, plumbing, flooring, and kitchen and bathroom updates. Siding and window casings were replaced in 2024. The owner covers gas, water, lawn care, and snow removal.
Key Highlights
- Four one‑bedroom, one‑bathroom units, each with a refrigerator and stove
- 2,071 square feet; built in 1900
- Three units leased; lease for the fourth unit scheduled to begin in May
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,922
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,440
$378.4K
Cap Rate 7%
$270,314
$270.3K
Cap Rate 9%
$210,244
$210.2K
Market Conditions
NOI Build-Up for 2,071 SF
Gross rent
$28.6K $13.80/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$27.0K $13.05/SF
− OpEx
−$8.1K −$3.92/SF
NOI
$18.9K $9.14/SF
Area
Black Hawk County, IA
Vacancy
5.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,440
Cap Rate 7%
$270,314
Cap Rate 9%
$210,244
Alternative Uses
Best Use
Multifamily LT 5
$270.3K
$236.5K – $315.4K
NOI $18,922 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$237.5K
$207.8K – $277.1K
NOI $16,627 @ 7.0% cap · market cap 6.16%
Theoretical Best
Mixed Use
$2.60M
$2.27M – $3.03M
NOI $181,730 @ 7.0% cap · market cap 67.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Individual electric meters serve the residences, each configured with one bedroom and one bathroom.
Where is this quadplex located?
The property is located at 706 W 12th Street Cedar Falls, IA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom units, each with a refrigerator and stove; 2,071 square feet; built in 1900; Three units leased; lease for the fourth unit scheduled to begin in May
