Iodine doped natural rubber attracted a great deal of interest in the processing of developing low cost, light weight and flexible photovoltaic device. In this work, we fabricated device by sandwiching Iodine doped cis-1,4 polyisoprene (Natural rubber) as an active layer between two different work function electrodes aluminium and Indium Tin Oxide (ITO). Electrical properties were analyzed by using current-voltage (I-V) measurements. It showed a typical diode behavior similar to the conventional diode. Dielectric constant and the density of states closed to the Fermi level of the material were calculated by using the step-by-step method based on the space-charge-limited-current model.