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803 E College St 5 Unit Apartment Building $510,000 ($102,000/Unit) 7.57% Cap Rate Iowa City, IA 52240
Executive Summary
Four 1 bed 1 bath units in main house plus a carriage house with 2 beds and 1 bath. Total rents are $4750 for the 24-25 rental term, increasing to $4955 for the 25-26 term. Annual income is $57,000, expenses are 32% at $18405 and NOI is $38595 giving a 7.6% CAP rate. Great location, just one block from College Green Park.
Property Facts
| Price | $510,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $102,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.57% | Building Size | 3,784 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 2.11/1,000 SF |
| Zoning | RNS20 OHD | ||
| Price | $510,000 |
| Price Per Unit | $102,000 |
| Sale Type | Investment |
| Cap Rate | 7.57% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,784 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 2.11/1,000 SF |
| Zoning | RNS20 OHD |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
1 1
Moderately walkable
60/100
Fairly drivable
50/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 1010482005 | Improvements Assessment | $321,290 |
| Land Assessment | $130,830 | Total Assessment | $452,120 |
Property Taxes
Parcel Number
1010482005
Land Assessment
$130,830
Improvements Assessment
$321,290
Total Assessment
$452,120
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803 E College St
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