Side-by-Side Duplex with Original
707 FRANKLIN, Keokuk, IA 52632
For Sale
Contact for pricing
Pending
Residential Income, Keokuk, IA
Property Size5,124 SF
Lot Size0.17 Acres
Days on Market97
Property Features for 707 FRANKLIN
General Information
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Basement
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Size
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Taxes and HOA fees
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Legal Description
Utilities
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Building Details
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Floors in Building
Number of units
Building materials
Listing Agency:
Ruhl & Ruhl, REALTORS
(319) 752-9933
Listed By:
Malisa Kothe
(319) 850-6936
Added: Aug 10
Changed: Nov 6
Last Checked: Nov 14 at 3:06AM
MLS# 6341424
Copyright © 2026 NoCoast MLS. 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 5,124-square-foot duplex contains two side-by-side residences, each measuring approximately 2,500 square feet. Both units include a living room, formal dining room, sitting room, foyer, kitchen, and bathrooms on both levels, with four second-floor bedrooms per side. Original woodwork and hardwood flooring add period character, while the property also includes wood siding and forced-air heating.
Constructed in 1890 on a 0.17-acre lot, the building is served by public water. One side has an updated electric panel, and both sides have newer furnaces. The property is offered as-is, providing a two-unit layout that can accommodate residential rental use or extended-family living.
Constructed in 1890 on a 0.17-acre lot, the building is served by public water. One side has an updated electric panel, and both sides have newer furnaces. The property is offered as-is, providing a two-unit layout that can accommodate residential rental use or extended-family living.
Key Highlights
- Side‑by‑side duplex with 5,124 square feet across two residences
- Each side is approximately 2,500 sq ft with 4 second‑floor bedrooms
- Living room, formal dining room, sitting room, foyer, and kitchen in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,267
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,340
$785.3K
Cap Rate 7%
$560,957
$561.0K
Cap Rate 9%
$436,300
$436.3K
Market Conditions
NOI Build-Up for 5,124 SF
Gross rent
$75.6K $14.76/SF
− Vacancy
−$4.2K −$0.83/SF
EGI
$71.4K $13.93/SF
− OpEx
−$32.1K −$6.27/SF
NOI
$39.3K $7.66/SF
Area
Lee County, IA
Vacancy
5.60%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,340
Cap Rate 7%
$560,957
Cap Rate 9%
$436,300
Alternative Uses
Best Use
Multifamily LT 5
$593.8K
$519.6K – $692.8K
NOI $41,567 @ 7.0% cap
Second Best
Apartment 5plus
$561.0K
$490.8K – $654.5K
NOI $39,267 @ 7.0% cap
Theoretical Best
Mixed Use
$869.6K
$760.9K – $1.01M
NOI $60,873 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
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Demographics for 52632, IA
12,006
Population
5,793
Households
2.1
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
51.8 sq mi
ZIP Area
232
Density / Sq Mi
$52,547
Median Household Income
$32,407
Median Earnings
$803
Median Rent
$108,400
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 - Two residences each offer four bedrooms, formal dining, sitting rooms, and bathrooms on both floors.
Where is this duplex located?
The property is located at 707 FRANKLIN Keokuk, IA.
What are key features of this property?
This property features: Side‑by‑side duplex with 5,124 square feet across two residences; Each side is approximately 2,500 sq ft with 4 second‑floor bedrooms; Living room, formal dining room, sitting room, foyer, and kitchen in each unit
