Updated Duplex with New
For Sale
$280,000
805/807 20TH Avenue, Coralville, IA 52241
Two separately configured residences offer updated kitchens and bathrooms, appliance packages, and convenient access to downtown and area shopping and dining.
Property Size1,360 SF
Price / SF$205.88
Days on Market321
Property Features for 805/807 20TH Avenue
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1964
Tenancy
Multi
Listing Agency:
LEPIC-KROEGER, REALTORS,
Listed By:
Monica Hayes
(319) 364-8121
Source:
Cbhrealty
Added: Oct 17, 2025
Changed: Sep 2
Last Checked: Aug 31 at 8:25PM
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.
Built in 1964, this duplex includes two distinct residences with different layouts. One side offers three bedrooms, one bathroom, and a carport; the other provides two bedrooms and one bathroom. Both units include kitchen appliances and have received recent kitchen and bathroom updates. A new HVAC system was installed in 2025.
The property is located at 805/807 20TH Avenue in Coralville, close to downtown and near shopping and dining along the strip. Both residences are currently rented, providing an existing occupied configuration for a buyer evaluating a duplex property.
The property is located at 805/807 20TH Avenue in Coralville, close to downtown and near shopping and dining along the strip. Both residences are currently rented, providing an existing occupied configuration for a buyer evaluating a duplex property.
Key Highlights
- Two‑unit duplex with one 3BR/1BA residence and one 2BR/1BA residence
- New HVAC system installed in 2025
- Recent kitchen and bathroom updates in both units
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 separately configured residences offer updated kitchens and bathrooms, appliance packages, and convenient access to downtown and area shopping and dining.
Where is this duplex located?
The property is located at 805/807 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; Recent kitchen and bathroom updates in both units
