Active

1401 E 28th Street 112 &113

Norwalk IA, 50211

$719,900


$267.62 per sqft

Active

4 Beds

4 Baths

2,690 sqft

Multi-family

Built in 2022

Prime investment opportunity in Silver Estates, Norwalk! This fully leased one-story duplex at 1401 E 28th St, Units 112 & 113, is priced at $719,900 and generates $54,720 in annual income with a $39,494 NOI (5.49% cap rate). Unit 112 offers 1,305 SF, while Unit 113 features 1,385 SF, both with 2 bedrooms, 2 bathrooms, modern kitchens with quartz countertops, tile backsplashes, stainless steel appliances, and large islands. Open-concept living areas boast gas fireplaces, luxury vinyl plank flooring, and seamless access to covered decks. The primary suites include spacious walk-in closets, dual vanities, and tile showers. Each unit also offers an unfinished basement for future expansion, a dedicated laundry room, and a 2-car attached garage. The HOA ($460/month) covers exterior maintenance, lawn care, snow removal, and insurance for a hassle-free investment. With distinctive curb appeal, front porches, and a prime location in a growing community, this property is an excellent opportunity for investors or future owner-occupancy. A partial tax abatement adds even more value. Don't miss out on this turnkey duplex with strong cash flow and low maintenance!

685374

MLS ID

November 13, 2023

Listed

February 26, 2025

Updated

Interior Features

Bedrooms

4


Total Bathrooms

4


Full Bathrooms

2


Three-Quarter Bathrooms

2


Interior Features

See Remarks, Cable TV


Appliances

Dishwasher, Microwave, See Remarks, Stove


Laundry Description

Main Level


Floor Description

Carpet, Tile


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air, Gas, Natural Gas

Exterior/Building Features

Lot Size

0.13 Acres


Lot Features

Rectangular Lot


Architectural Style

Ranch, Duplex


Roof

Asphalt, Shingle


Sewer

Public Sewer


Security

Smoke Detector(s)

School Information

School District

Norwalk

Other Property Details

Area Name

Norwalk


Taxes

$3,914


Tax Frequency

Annually


Days on Market

471


Association Fee

$460


Association Fee Frequency

Monthly


Garage

Yes


Garage Spaces

2


Parking

Attached, Garage, Two Car Garage


View

No


County

Warren


Water Source

Public


Pool

No


Utilities

Electricity Available, Natural Gas Available, Water Available


Zoning

R

 

Courtesy of Peoples Company, Ludwig, Kalen N,
Listing Contact: (515) 402-3169 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Quartz Team Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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