Two-Unit Duplex
For Sale
$850,000
717/719 E Jefferson St, Iowa City, IA 52246
Residential income property with two separate living units in Iowa City.
Property Size2,975 SF
Price / SF$285.71
Days on Market47
Property Features for 717/719 E Jefferson St
General Information
Standard status
Active
Size
2,975 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
Realty87
(319) 431-5859
Listed By:
Matt Smith Team
(319) 431-5859
Source:
Mattsmithteam
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 30 at 6:00PM
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 Realty87
Investment Insights
Based on property information with market context.
This duplex property at 717/719 E Jefferson St in Iowa City, IA, contains 2,975 square feet across two residential units. The building was constructed in 1915 and is configured as a two-unit residential income property.
The property is located in Iowa City, IA 52246, with separate unit addresses at 717 and 719 E Jefferson St. Its duplex configuration provides a defined multifamily format for residential ownership and leasing.
The property is located in Iowa City, IA 52246, with separate unit addresses at 717 and 719 E Jefferson St. Its duplex configuration provides a defined multifamily format for residential ownership and leasing.
Key Highlights
- Two‑unit duplex configuration
- 2,975 square feet of building area
- Constructed in 1915
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,445
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$548,900
$548.9K
Cap Rate 7%
$392,071
$392.1K
Cap Rate 9%
$304,944
$304.9K
Market Conditions
NOI Build-Up for 2,975 SF
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.
Gross rent
$41.1K $13.80/SF
− Vacancy
−$1.8K −$0.62/SF
EGI
$39.2K $13.18/SF
− OpEx
−$11.8K −$3.95/SF
NOI
$27.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$548,900
Cap Rate 7%
$392,071
Cap Rate 9%
$304,944
Alternative Uses
Best Use
Multifamily LT 5
$392.1K
$343.1K – $457.4K
NOI $27,445 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$363.5K
$318.1K – $424.1K
NOI $25,447 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$646.3K
$565.5K – $754.0K
NOI $45,239 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,087
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with two separate living units in Iowa City.
Where is this duplex located?
The property is located at 717/719 E Jefferson St Iowa City, IA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 2,975 square feet of building area; Constructed in 1915
