Clean Duplex with Detached
For Sale
$295,000
Pending
4324 50th Street, Des Moines, IA 50310
MultiFamily, Duplex, Des Moines, IA
Property Size1,530 SF
Lot Size0.30 Acres
Days on Market53
Property Features for 4324 50th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
N3A
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Garage
Appliances
Dishwasher, Refrigerator, Stove
Elementary school district
Johnston
Middle school district
Johnston
High school district
Johnston
Directions
From Merle Hay Road, East on Aurora Avenue, North on 50th Street, home is on West side of the street
Subdivision
Des Moines N.West
Standard status
Pending
APN
10012844619000
Size
1,530 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
LOT 119 WESTCHESTER MANOR PLAT 5
Tax Annual Amount
5593
Legal Description
LOT 119 WESTCHESTER MANOR PLAT 5
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Number of units
2
Building materials
Brick
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Precision · RE/MAX International
(515) 223-9492
Listed By:
Scott Wendl · License #S36739000
(515) 249-9225
Added: Jul 2
Changed: Aug 19
Last Checked: Aug 23 at 11:06AM
MLS# 744394
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.
Well-maintained duplex built in 1987 on a 0.299-acre lot, totaling 1,530 square feet. Each side features two bedrooms and one bathroom, and each unit includes a 1-car detached garage. Per the seller, half of the basement is finished.
The home is served by public water and public sewer. Heating is natural gas forced air, and cooling is central air. The roof is asphalt shingle, and construction is brick.
Tenants pay all utilities, including gas, water, and electric, and are responsible for mowing and snow removal. Kitchen appliances included are dishwasher, refrigerator, and stove.
The home is served by public water and public sewer. Heating is natural gas forced air, and cooling is central air. The roof is asphalt shingle, and construction is brick.
Tenants pay all utilities, including gas, water, and electric, and are responsible for mowing and snow removal. Kitchen appliances included are dishwasher, refrigerator, and stove.
Key Highlights
- Two bedrooms and one bathroom on each side
- 1‑car detached garage per unit
- Per seller, half of the basement is finished
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,274
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,480
$285.5K
Cap Rate 7%
$203,914
$203.9K
Cap Rate 9%
$158,600
$158.6K
Market Conditions
NOI Build-Up for 1,530 SF
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.
Gross rent
$21.1K $13.80/SF
− Vacancy
−$722 −$0.47/SF
EGI
$20.4K $13.33/SF
− OpEx
−$6.1K −$4.00/SF
NOI
$14.3K $9.33/SF
Area
Des Moines, IA
Vacancy
3.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,480
Cap Rate 7%
$203,914
Cap Rate 9%
$158,600
Alternative Uses
Best Use
Multifamily LT 5
$203.9K
$178.4K – $237.9K
NOI $14,274 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$182.2K
$159.4K – $212.5K
NOI $12,752 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$376.8K
$329.7K – $439.6K
NOI $26,377 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex zoned N3A with central air and natural gas forced-air heating.
Where is this duplex located?
The property is located at 4324 50th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two bedrooms and one bathroom on each side; 1‑car detached garage per unit; Per seller, half of the basement is finished
