Two-Unit Ranch
For Sale
$330,000
18920 Wendover Avenue, Granger, IA 50109
Residential, Duplex, Residential, Granger, IA
Property Size2,028 SF
Price / SF$162.72
Days on Market94
Property Features for 18920 Wendover Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Garage
Patio and Porch features
Patio
Exterior features
Patio
Appliances
Dryer, Dishwasher, Refrigerator, Stove, Washer
Lot features
Irregular Lot
Elementary school district
Woodward-Granger
Middle school district
Woodward-Granger
High school district
Woodward-Granger
Directions
North on 141 thru Granger, go south on Wendover 1/4 mile. Properties are on the left.
Subdivision
Granger
Standard status
Active
APN
0802451016
Size
2,028 SF
Taxes and HOA fees
Tax Description
REPLAT OF GRANGER HOMESTEAD UNIT 6 LOT 2
Tax Annual Amount
3937
Legal Description
REPLAT OF GRANGER HOMESTEAD UNIT 6 LOT 2
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
concrete patio
Building Details
Year built
1999
Floors in Building
1
Flooring type
Tile, Vinyl, Carpet
Architectural style
Ranch, Modern
Listing Agency:
RE/MAX Precision · RE/MAX International
(515) 223-9492
Listed By:
Julie Blaker · License #S68775000
(515) 480-4547
Added: Jul 6
Changed: Sep 25
Last Checked: Oct 7 at 12:06PM
MLS# 744522
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.
Built in 1999, this ranch-style duplex contains 2028 square feet with two residences. Each unit offers two bedrooms, one full bathroom, living and dining areas, and a full kitchen equipped with a stove, refrigerator, dishwasher, washer, and dryer. Interior finishes include carpet, vinyl, and tile, while forced-air natural gas heat and central air provide building-wide climate control. Each residence also has an attached garage and an 8x10 concrete rear patio.
The property occupies nearly an acre in Granger, Iowa, with landscaping surrounding the building. Saylorville Lake is nearby, and Des Moines is located 15 minutes southeast. R zoning is identified for the property.
The property occupies nearly an acre in Granger, Iowa, with landscaping surrounding the building. Saylorville Lake is nearby, and Des Moines is located 15 minutes southeast. R zoning is identified for the property.
Key Highlights
- Duplex with two residences, each offering 2 bedrooms and 1 full bathroom
- 2028 square feet on nearly an acre
- Attached garage assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,317
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,340
$366.3K
Cap Rate 7%
$261,671
$261.7K
Cap Rate 9%
$203,522
$203.5K
Market Conditions
NOI Build-Up for 2,028 SF
Gross rent
$28.0K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$26.2K $12.90/SF
− OpEx
−$7.9K −$3.87/SF
NOI
$18.3K $9.03/SF
Area
Dallas County, IA
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,340
Cap Rate 7%
$261,671
Cap Rate 9%
$203,522
Alternative Uses
Best Use
Multifamily LT 5
$261.7K
$229.0K – $305.3K
NOI $18,317 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.7K
NOI $17,021 @ 7.0% cap · market cap 5.16%
Theoretical Best
Flex RnD
$1.95M
$1.71M – $2.28M
NOI $136,655 @ 7.0% cap · market cap 41.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
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Business Placement
Demographics for 50109, IA
3,348
Population
1,450
Households
2.3
Avg Household Size
37
Median Age
49%
College-Educated
98%
High-School Grad
19.4 sq mi
ZIP Area
173
Density / Sq Mi
$130,263
Median Household Income
$62,188
Median Earnings
$923
Median Rent
$337,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with private patios, attached garages, and full kitchens serving both residences.
Where is this duplex located?
The property is located at 18920 Wendover Avenue Granger, IA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Duplex with two residences, each offering 2 bedrooms and 1 full bathroom; 2028 square feet on nearly an acre; Attached garage assigned to each unit
