3103 1st Street Des Moines, IA 50313
MULTI_FAMILY - Other - Des Moines, IA
Property Features for 3103 1st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Resid
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Basement, Bathroom 3, Bathroom 1, Bedroom 1
- Standard status
- Pending
- APN
- 07000636000000
- Size
- 1,343 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- -EX BEG SW COR THN E 81.5F N10.2F W26.1F SWLY TO POB- LOT 21 BLK 27 AUBURN HEIGHTS PLAT 1
- Tax Annual Amount
- 3517
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1911
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- WoodSiding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent STEVEN CAMERONA (515) 978-1289
Listing office Iowa Realty Beaverdale 3521 Beaver Ave, West Des Moines, IA (515) 453-5900
Listing date May 18, 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 in Des Moines, Iowa near schools, parks, and everyday amenities, based on the listing remarks.
With a lot size of 0.139 acres and approximately 1,343 square feet reported building size, this multifamily residential income property is offered for sale.
Key Highlights
- Income‑producing up/down triplex with 3 units
- 4 total bedrooms and 3 total bathrooms across the units
- Built in 1911 with wood siding exterior
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 | $18.5k | $13.80 |
| − Vacancy | −$634 | −$0.47 |
| EGI | $17.9k | $13.33 |
| − OpEx | −$5.4k | −$4.00 |
| NOI | $12.5k | $9.33 |
