Updated Duplex with New
For Sale
$280,000
805 20th Avenue, Coralville, IA 52241
Two leased units offer distinct bedroom layouts, appliance-equipped kitchens, and a carport serving the larger residence.
Property Size1,360 SF
Price / SF$205.88
Days on Market160
Property Features for 805 20th Avenue
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,606
Amenities
3
88 X 103
Building Details
Year Built
1964
Tenancy
Multi
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Monica Hayes · License #S61528
Source:
Xome
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 31 at 12:55PM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
This duplex contains two separately configured residences: one with three bedrooms, one bathroom, and a carport, and a second with two bedrooms and one bathroom. Both kitchens include appliances, while kitchen and bathroom improvements have been completed in each unit. A new HVAC system was installed in 2025. Built in 1964, the property has both units currently rented.
The duplex is located at 805 20th Avenue in Coralville, Iowa, near downtown and immediately off the local shopping and dining strip. Its setting provides access to nearby retail and restaurants, with the larger unit also benefiting from dedicated carport coverage.
The duplex is located at 805 20th Avenue in Coralville, Iowa, near downtown and immediately off the local shopping and dining strip. Its setting provides access to nearby retail and restaurants, with the larger unit also benefiting from dedicated carport coverage.
Key Highlights
- Two‑unit duplex with one 3BR/1BA residence and one 2BR/1BA residence
- New HVAC system installed in 2025
- Both units currently rented
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
$12,546
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
4.48%
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%
$250,920
$250.9K
Cap Rate 7%
$179,229
$179.2K
Cap Rate 9%
$139,400
$139.4K
Market Conditions
NOI Build-Up for 1,360 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
$18.8K $13.80/SF
− Vacancy
−$845 −$0.62/SF
EGI
$17.9K $13.18/SF
− OpEx
−$5.4K −$3.95/SF
NOI
$12.5K $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%
$250,920
Cap Rate 7%
$179,229
Cap Rate 9%
$139,400
Alternative Uses
Best Use
Multifamily LT 5
$179.2K
$156.8K – $209.1K
NOI $12,546 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$166.2K
$145.4K – $193.9K
NOI $11,633 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$295.4K
$258.5K – $344.7K
NOI $20,681 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 52241, IA
22,319
Population
10,294
Households
2.2
Avg Household Size
34
Median Age
57%
College-Educated
95%
High-School Grad
13.5 sq mi
ZIP Area
1,653
Density / Sq Mi
$66,508
Median Household Income
$40,504
Median Earnings
$1,021
Median Rent
$286,000
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 - Two leased units offer distinct bedroom layouts, appliance-equipped kitchens, and a carport serving the larger residence.
Where is this duplex located?
The property is located at 805 20th Avenue Coralville, IA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex with one 3BR/1BA residence and one 2BR/1BA residence; New HVAC system installed in 2025; Both units currently rented
