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!
Norwalk is located in Iowa. Norwalk, Iowa has a population of 12,592. Norwalk is more family-centric than the surrounding county with 45.03% of the households containing married families with children. The county average for households married with children is 36.92%.
The median household income in Norwalk, Iowa is $91,610. The median household income for the surrounding county is $85,189 compared to the national median of $69,021. The median age of people living in Norwalk is 36 years.
The average high temperature in July is 85.6 degrees, with an average low temperature in January of 12.5 degrees. The average rainfall is approximately 36.1 inches per year, with 30.5 inches of snow per year.
