Des Moines Duplex Investment
612 Mckinley Avenue Des Moines, IA 50315
For Sale
$280,000
MULTI_FAMILY - Other - Des Moines, IA
Property Size2,016 SF
Lot Size0.23 Acres
Price / SF$138.89
Days on Market107
Property Features for 612 Mckinley Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- N3A
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Basement, Bathroom 1
- Appliances
- Dishwasher, Microwave, Refrigerator, Stove
- Standard status
- Active
- APN
- 12000490002002
- Size
- 2,016 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Description
- -EX BEG NW COR LOT 13 THN E 66F S 3F W 66F N 3F TO POB- N 155F W 66F N 330F LOT 13 CONRAD PLACE
- Tax Annual Amount
- 4572
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1972
- Floors in Building
- 2
- Building materials
- WoodSiding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing Agency:
RE/MAX Precision
(515) 223-9492
Listed By:
Dustin Kupka · License #S65754000
(515) 681-7001
Added: Apr 8
Changed: Jul 11
Last Checked: Jul 23 at 8:06PM
MLS# 737823
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.
This duplex is located off McKinley Ave in South Des Moines. Each unit features 3 bedrooms and 1.5 bathrooms. Both units are currently rented at $1,200 per month. Tenants are responsible for all utilities, including water, sewer, storm water, gas, and electric, as well as snow removal and lawn care. The property is conveniently located near shopping, dining, and everyday essentials along SE 14th St, with easy access to Gray's Lake Park and Water Works Park, and just minutes from downtown Des Moines. The property includes a bedroom and 1/2 bathroom in the basement and a spacious backyard. The property has a functional layout. The roof was replaced in 2020, and the windows and water heater were replaced in 2023. The lot size is 0.23 acres, and the property size is 2016 square feet. This property offers potential for investors looking to enhance value and maximize returns.
Key Highlights
- 1972 walkout duplex with 3 bedrooms and 1.5 bathrooms
- Both units currently rented at $1,200/month
- Updates include new roof (2020), newer windows, and water heater replaced (2023)
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 | $27.8k | $13.80 |
| − Vacancy | −$951 | −$0.47 |
| EGI | $26.9k | $13.33 |
| − OpEx | −$8.1k | −$4.00 |
| NOI | $18.8k | $9.33 |
2,016 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$268.7K
$235.1K – $313.5K
NOI $18,809 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$240.0K
$210.0K – $280.1K
NOI $16,803 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$496.5K
$434.4K – $579.3K
NOI $34,755 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Income-generating duplex near shopping, dining, and downtown Des Moines.
Where is this duplex located?
The property is located at 612 Mckinley Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1972 walkout duplex with 3 bedrooms and 1.5 bathrooms; Both units currently rented at $1,200/month; Updates include new roof (2020), newer windows, and water heater replaced (2023)
