Duplex with Detached
931 Dewey St, Iowa City, IA 52240
For Sale
$290,000
The lower residence spans the main floor and a finished basement, while the upper unit has a separate one-bedroom layout.
Property Size1,400 SF
Price / SF$207.14
Days on Market15
Property Features for 931 Dewey St
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Affinity Real Estate Services
Listed By:
Bryant Nicholson
(319) 853-3555
Source:
Blankandmccune
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 9 at 2:57PM
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 Affinity Real Estate Services
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Investment Insights
Based on property information with market context.
This Iowa City duplex contains two occupied residences. The upper apartment has one bedroom and one bathroom; the lower apartment includes three bedrooms and two bathrooms across the main level and a finished basement. The property measures 1,400 square feet and was built in 1900. A detached garage and backyard are also part of the property.
Residents are responsible for their utilities. The property is in Iowa City, with access to downtown and shopping.
Residents are responsible for their utilities. The property is in Iowa City, with access to downtown and shopping.
Key Highlights
- Two occupied units: upper apartment has 1 bedroom and 1 bathroom; lower apartment has 3 bedrooms and 2 bathrooms
- Lower unit spans the main level and a finished basement
- 1,400 square feet; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,915
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,300
$258.3K
Cap Rate 7%
$184,500
$184.5K
Cap Rate 9%
$143,500
$143.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$19.3K $13.80/SF
− Vacancy
−$869 −$0.62/SF
EGI
$18.5K $13.18/SF
− OpEx
−$5.5K −$3.95/SF
NOI
$12.9K $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 Rate 5%
$258,300
Cap Rate 7%
$184,500
Cap Rate 9%
$143,500
Alternative Uses
Best Use
Multifamily LT 5
$184.5K
$161.4K – $215.3K
NOI $12,915 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.6K
NOI $11,975 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$304.1K
$266.1K – $354.8K
NOI $21,289 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Johnson County, IA
Properties on Market for Duplexes in Johnson County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The lower residence spans the main floor and a finished basement, while the upper unit has a separate one-bedroom layout.
Where is this duplex located?
The property is located at 931 Dewey St Iowa City, IA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two occupied units: upper apartment has 1 bedroom and 1 bathroom; lower apartment has 3 bedrooms and 2 bathrooms; Lower unit spans the main level and a finished basement; 1,400 square feet; built in 1900
