2432 Petsel Place, IowaCity, IA 52246
Hawkeye Heights · Johnson County
Key Facts
Description
10-plex on the west side of Iowa City with a strong rental history and consistently low vacancy. Functional unit layouts, ample off-street parking, and a desirable location near shopping, transit, and UIHC make this an attractive, easy-to-rent asset. Current ownership has maintained steady occupancy, offering reliable in-place income with upside potential. Opportunity exists to increase NOI through implementation of a RUBS utility reimbursement program and/or leasing on-site storage lockers for additional monthly income. Solid cash-flowing investment with value-add components in a stable rental corridor. Ideal for investors seeking scale, stability, and room to grow returns over time.
Property Information
Property Type
Residential
Sub-Type
Multi Family
Year Built
1980
Living Area
7,488 sq ft
Lot Dimensions
Irr -0.79 Acres
Parking Spaces
4
Zoning
Multifamily
MLS® Listing#
202601495
Property Features
- Appliances:
- Dishwasher, Refrigerator, Dryer, Washer
- Cooling:
- Window Unit(s)
- Heating:
- Baseboard
- Flooring:
- Carpet, Vinyl
- Basement:
- Concrete, Partial, Daylight
- Parking:
- Off Street
- Construction:
- Vinyl Siding, Frame
- Security:
- Carbon Monoxide Detector(s), Smoke Detector(s)
- Community:
- Sidewalks, Street Lights
- Sewer:
- Public Sewer
- Water Source:
- Public
Schools
- Elementary:
- Borlaug
- Middle:
- Northwest
- High:
- West
HOA & Tax
- HOA:
- None
- Annual Tax:
- $13,546 (2024)
- Parcel #:
- 1017233003
Directions
North on Mormon Trek to left on Petsel Place.
Affordability Calculator
$199,000
Estimated monthly payment
$5,296/mo
Principal $796,000 · Est. interest $1,110,491 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in IowaCity, IA
- $361,345
- Median Listing Price
- 70
- Median Days on Market
- 1,797
- Median Sq Ft
- $195
- Median Price / Sq Ft
- 266
- Active Listings
- This home’s price is 175% above the area median.
- Its price per sq ft is 32% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in IowaCity, IA.
Location
- 2432 Petsel Place, IowaCity, IA 52246
Nearby Schools
West High School
Secondary · 0.3 mi away
Horn Elementary School
Elementary · 0.7 mi away
Weber Elementary School
Elementary · 1.3 mi away
Melrose Day Care Center
Elementary · 1.4 mi away
Lincoln Elementary School
Elementary · 1.4 mi away
Coralville Central Elementary
Elementary · 1.4 mi away
Norman Borlaug Elementary School
Elementary · 1.7 mi away
Northwest Junior High School
Secondary · 1.9 mi away
Prince of Peace Christian Preschool
School · 1.9 mi away
University of Iowa Department of Cinematic Arts
School · 2.0 mi away
Kirkwood Elementary School
Elementary · 2.1 mi away
Hillside Christian School
Secondary · 2.5 mi away
Montessori School
Elementary · 2.6 mi away
Mann Elementary School
Elementary · 2.7 mi away
Longfellow Elementary School
Elementary · 2.9 mi away
Bohumil Shimek Elementary School
Elementary · 3.0 mi away
Mark Twain Elementary School
Elementary · 3.2 mi away
Purple Bloom School
School · 3.3 mi away
Ui Health Care
School · 3.5 mi away
Wickham Elementary
Elementary · 3.5 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Moving Cost Estimate
EXIT Agents in IowaCity
Listing Courtesy: Westwinds Real Estate Services, Inc. - 3193543792
Presented by: Teague Case