807 3rd St - Harvest Meadow Estates 14 Unit Apartment Building Offered at $600,000 Durant, IA 52747

Harvest Meadow Estates is a 14-unit residential facility located at 807 3rd Street in Durant, Iowa. The property is situated on approximately 0.66 acres (28,800 SF) and is zoned commercial, allowing for a variety of residential and institutional uses. Originally constructed in 1982, the building underwent a comprehensive renovation in 2025, resulting in a modernized asset with updated mechanical systems, common areas, and accessibility features.
The building contains approximately 7,644 square feet and is currently 100% vacant, providing a buyer with the ability to immediately implement their own operational model or conversion strategy. Seller financing is available.
The property consists of 14 total units, including 13 studio apartments and one two-bedroom apartment located on the lower level. The building is arranged across three levels, all of which are served by a fully operational elevator connecting the basement through the second floor.
The main level features a large community living area, open dining room, and oversized kitchen designed to accommodate shared meals or group use. This level also includes four studio units, a community laundry facility, and a shared half bathroom.
The upper level includes eight studio apartments, while the lower level contains a premier studio unit, the two-bedroom apartment, a full shared bathroom, a recreation or activity area, and an administrative office.
The structure is built on a poured concrete foundation and is serviced by 400-amp electrical service (two 200-amp panels). Heating is provided by gas-fired furnaces manufactured in 2024, with cooling supplied by six separate air conditioning units, at least one of which is confirmed to be manufactured in 2024. The property is connected to city water and city sewer. Two water heaters serve the building (manufactured in 2021 and 2002). The age of the roof is unknown, and there is no on-site generator. A garage area includes an AC splitter installed approximately 2024.
The building is wheelchair accessible and includes safety rails throughout. Additional safety features include smoke and carbon monoxide alarms and building-wide Wi-Fi. Common amenities include a community dining room, large shared living room, activity and recreation space, reading area, four-season room, fitness equipment, business center access, community laundry facilities, resident refrigerator storage, landscaped grounds, garden area, and on-street parking.

LOCATION:
Durant is a city in Cedar, Muscatine, and Scott counties in the U.S. state of Iowa. The population was 1,871 at the time of the 2020 census. Durant is part of the Davenport–Moline–Rock Island, IA-IL Metropolitan Statistical Area, while the Muscatine County portion of the city is part of the Muscatine Micropolitan Statistical Area.
The median home cost in Durant is $219,600. Home appreciation the last 10 years has been 54.0%. Home Appreciation in Durant is up 12.8%.
Renters make up 22.8% of the Durant population.
4.5% of houses and apartments in Durant, are available to rent.
The average studio rents for $750/month.
The average 1-bedroom unit rents for $780/month.
The average 2-bedroom unit rents for $1,020/month.
The average 3-bedroom unit rents for $1,280/month.
The average 4-bedroom unit rents for $1,370/month.
Durant has an unemployment rate of 4.1%. The US average is 6.0%.
Future job growth over the next ten years is predicted to be 25.0%.
The Median household income of a Durant resident is $72,212 a year. The US average is $69,021 a year.
Durant violent crime is 13.3. (The US average is 22.7)
Durant property crime is 15.6. (The US average is 35.4)
The Quad Cities metropolitan area, more formally known as the Davenport–Moline–Rock Island Metropolitan Statistical Area (MSA), is the metropolitan area associated with the Quad Cities in Iowa and Illinois. The Davenport–Moline–Rock Island MSA consists of four counties – Scott County in Iowa and Henry, Mercer, and Rock Island counties in Illinois – and had an estimated population of 384,324 as of 2020.