104 E Boston Avenue Indianola, IA 50125
MULTI_FAMILY - Other - Indianola, IA
Property Features for 104 E Boston Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Res
- Bedrooms
- 1
- Bathrooms
- 5
- Rooms
- Bedroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 2
- Parking features
- Garage
- Standard status
- Active
- APN
- 48020020160
- Size
- 1,776 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Description
- 25-76-24 INDIANOLA OTP LOTS 16 & 17 BLK 2
- Tax Annual Amount
- 2690
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- VinylSiding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Emily Keller - Lampman (515) 453-5662
Listing office Iowa Realty Indianola 1501 N Jefferson St, West Des Moines, IA (515) 453-6600
Listing date May 15, 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.
Recent updates include a newly updated electric meter and panel, along with rewiring to multiple parts of the units. Residents share access to a common backyard area, and there is also a 1-car detached garage on site.
The property is listed as fully rented, and showings require 24-hour notice.
Key Highlights
- 4‑unit rental property near the Indianola square (3 studio apartments and 1 BR apartment)
- Recently updated electric meter and panel; much of the unit is rewired
- Main level includes two studio apartments with kitchenettes and 3/4 baths
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 | $24.5k | $13.80 |
| − Vacancy | −$1.6k | −$0.90 |
| EGI | $22.9k | $12.90 |
| − OpEx | −$6.9k | −$3.87 |
| NOI | $16.0k | $9.03 |
