1019/1021 Kirkwood Avenue Des Moines, IA 50315
MULTI_FAMILY - Other - Des Moines, IA
Property Features for 1019/1021 Kirkwood Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- N3B
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 3
- Parking features
- Garage
- Interior features
- CableTv, WindowTreatments
- Appliances
- Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
- Standard status
- Active
- APN
- 010-03146001000
- Size
- 1,586 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- S 1/2 VAC E/W ALLEY N & ADJ & LT 41 KIRKWOOD HEIGHTS
- Tax Annual Amount
- 3664
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air, Electric (Heating)
- Cooling system
- Window Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1910
- Number of units
- 2
- Flooring type
- Carpet
- Building materials
- MetalSiding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Pennie Carroll License #F05964000 (515) 490-8025
Listing office Pennie Carroll & Associates 3232 Hubbell Ave, Des Moines, IA (515) 490-8025
Listing date Jun 10, 2026
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is located near a bus line, with a short commute to downtown. It is also described as being close to MacRae Park and Lincoln High School, which may be useful context for tenant convenience.
Recent updates are highlighted in the listing, including low-maintenance siding, a new roof in 2025, and a new HVAC system in 2025. Both units have a history of long-term tenants who are currently in good standing, and the property has been maintained by the same family for many years. For buyers seeking a duplex structure with two rental doors and documented system upgrades, this layout and improvement package provides a clear, turnkey-focused profile based on the information provided.
Key Highlights
- Duplex with two separate units: main‑level 2 bed/1 bath plus upper 1 bed unit
- Both units include appliances: refrigerator, stove, microwave, dishwasher, washer, and dryer
- Major 2025 updates: new roof and new HVAC system
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.9k | $13.80 |
| − Vacancy | −$749 | −$0.47 |
| EGI | $21.1k | $13.33 |
| − OpEx | −$6.3k | −$4.00 |
| NOI | $14.8k | $9.33 |
