Versatile Multi-Family
1242 Mckinley Avenue, Des Moines, IA 50315
MULTI_FAMILY - Ranch - Des Moines, IA
Type:Duplex
Property size:
1,513 SFLot size:
0.20 AcresPrice / SF:
$157/SF- Added:
- Apr 13, 2026
- Days on Market:
- 50
- Last Refresh:
- Jun 1 at 2:06 pm
Property Features for 1242 Mckinley Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- N3A
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Basement, Bathroom 1
- Parking features
- Garage
- Interior features
- WindowTreatments
- Appliances
- Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
- Standard status
- Active
- APN
- 12003493000000
- Size
- 1,513 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- LOTS 1 & 2 BLK 1 PINEHURST
- Tax Annual Amount
- 3186
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1926
- Floors in Building
- 1
- Flooring type
- Tile, Carpet
- Building materials
- VinylSiding
- Roof type
- Asphalt, Shingle
- Architectural style
- Ranch
Listing agent Valerie Kenworthy (515) 988-7469
Listing office LPT Realty, LLC 2425 N Ankeny Blvd Ste. 101, Clive, IA (515) 669-4010
Listing date Apr 13, 2026
MLS# 738296
Listing URL
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.
HighLights
- Multi‑family residence with two distinct units, ideal for investors or homeowners seeking rental income.
- Flexible structure allows for use as a single‑family home or separate rental units.
- Main unit features 2 bedrooms, front porch, spacious family room, dining area, kitchen, and basement with a 3rd bedroom, storage, and laundry.
- Upper unit offers a full kitchen, bedroom, bath, and private deck, suitable as an in‑law suite or rental apartment.
- Includes a one‑car tuck‑under garage and ample private parking.
- Equipped with essential appliances: Dryer, Dishwasher, Microwave, Refrigerator, Stove, and Washer.
Overview
This multi-family residence presents an exceptional investment opportunity, suitable for investors or homeowners seeking income potential. The property includes two distinct units with a total of four bedrooms. The main unit features two bedrooms on the main level, complemented by a front porch, a spacious family room, a large dining area, and a kitchen. A basement adds a third bedroom, storage space, and laundry facilities. The upstairs unit offers privacy and convenience, with separate or joint access, making it suitable for rental or use as an in-law suite. It includes a full kitchen, a bedroom, a bath, and a private deck. The property's structure allows for combining both units into a single-family home or separating them for rental income. Additional features include a one-car tuck-under garage and private parking. The property is located in Des Moines, Iowa, within Polk County, and has a lot size of 0.198 acres. The property size is 1513 square feet.
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 | $20.9k | $13.80 |
| − Vacancy | −$714 | −$0.47 |
| EGI | $20.2k | $13.33 |
| − OpEx | −$6.0k | −$4.00 |
| NOI | $14.1k | $9.33 |
1,513 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$201.7K
$176.5K – $235.3K
NOI $14,116 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$180.1K
$157.6K – $210.2K
NOI $12,610 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$372.6K
$326.1K – $434.7K
NOI $26,084 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.632806
- Latitude
- 41.540721
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Multi-family residence with income potential and flexible living options.
Where is this duplex located?
The property is located at 1242 Mckinley Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Multi‑family residence with two distinct units, ideal for investors or homeowners seeking rental income.; Flexible structure allows for use as a single‑family home or separate rental units.; Main unit features **2 bedrooms, front porch, spacious family room, dining area, kitchen, and basement with a 3rd bedroom**, storage, and laundry.
