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605 East 1st Street
Monticello, IA 52310
Asking Price
$1.70M
Cap Rate
6.5%
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
Brand-New, 100% Leased 12-Unit with a Rare 10-Year Tax Abatement <ul><li>Brand-New Construction (Completed 2024) Institutional-quality, low-maintenance asset with modern finishes and negligible near-term capital needs.</li><li>100% Leased & Stabilized All twelve two-bedroom units occupied on in-place leases, delivering immediate, durable cash flow.</li><li>10-Year Tax Abatement 100% of city-abatable value, granted by the Monticello City Council on June 15, 2026 under the Urban Revitalization Area.</li><li>Strong, Stabilized Cash Flow In-place scheduled re
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NOI
$80,000
Cap Rate
4.71%
DSCR
0.79
Underwater
Cash-on-Cash
-4.10%
Monthly Payment
$8,410.672
Annual Cash Flow
$-20,928.069
