For Sale
$289,900

1416 Starview Dr Cedar Falls, IA 50613

High-yield, renovated duplex near campus.

Overview

Added:
Dec 11, 2024
Days on market:
130
This exceptional Class A, two-unit multifamily property located at 1416 Starview Dr, Cedar Falls, IA 50613, presents a compelling investment opportunity. Currently boasting 100% occupancy, this newly renovated duplex offers a strong cash flow with a 10% cap rate. The asking price is $289,900, translating to $144,950 per unit. Each unit features a full kitchen and bathroom, making them highly desirable rental properties. The upper unit comprises four bedrooms, while the lower unit offers three bedrooms. Current monthly rental income totals $3175 ($1600 upper, $1575 lower). The property includes a double detached garage and a rear deck, adding to its appeal. Situated near a college campus, this duplex benefits from a strong rental market, attracting both students and families. The property sits on ground leased land, with the lease expiring on May 25, 2024. This turnkey investment is ideal for those seeking immediate income and strong return on investment. The property's recent renovations ensure minimal maintenance needs, maximizing profitability. Don't miss this chance to acquire a high-performing asset in a desirable location.

Highlights

  • $289,900 asking price for a Class A, two-unit multifamily property.
  • 10% cap rate.
  • 100% occupancy, with occupancy date of May 25, 2024.
  • $144,950 price per unit.
  • Ground lease in place, expiring May 25, 2024.

Property Details for 1416 Starview Dr

Property type
Residential income homes
Class
A
Units
2

Location Insight

City
Cedar Falls
County
Black Hawk
State
Iowa
Latitude
42.5061112
Longitude
-92.4623656
1416 Starview Dr, Cedar Falls, Iowa

FAQs

What type of property is this?
Residential income home - High-yield, renovated duplex near campus.
Where is the residential income home located?
The property is located at 1416 Starview Dr Cedar Falls, IA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: $289,900 asking price for a Class A, two-unit multifamily property.; 10% cap rate.; 100% occupancy, with occupancy date of May 25, 2024.
How can I contact the broker?
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1416 Starview Dr
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