All-Brick Duplex With
For Sale
$280,000
Pending
1000 Hoffman Avenue, Des Moines, IA 50316
MultiFamily, Duplex, Des Moines, IA
Property Size1,404 SF
Lot Size0.21 Acres
Days on Market99
Property Features for 1000 Hoffman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
res
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Parking features
Garage
Interior features
CentralVacuum, CableTv
Appliances
Refrigerator, Stove
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
From I35 take exit 123 for US 69, turn onto us 69 toward E14th st Turn right onto E Madison AVe Turn left onto 10th ST. Turn Left onto HOffman AVe.
Subdivision
Des Moines N.East
Standard status
Pending
APN
11002085003000
Size
1,404 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
LOT 3 DIAL PLACE
Tax Annual Amount
4310
Legal Description
LOT 3 DIAL PLACE
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1962
Number of units
2
Flooring type
Vinyl, Hardwood, Carpet, Laminate
Building materials
Brick
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(833) 835-5566
Listed By:
Donna Koester
(515) 979-5264
Added: Jul 8
Changed: Sep 14
Last Checked: Oct 14 at 1:06PM
MLS# 743789
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 1962 duplex contains 1,404 square feet and is constructed with brick under an asphalt shingle roof. Each unit includes approximately 500 square feet of finished lower-level space, adding bedrooms and flexible family or recreation areas. Interior features include central vacuum, cable TV, vinyl, carpet, hardwood, and laminate flooring, along with refrigerators and stoves. Heating is provided by natural gas and forced air, with central air conditioning for cooling.
The property sits on a 0.213-acre lot at 1000 Hoffman Avenue in Des Moines, Iowa, near Madison Elementary. A detached two-car garage provides on-site parking, while public water and public sewer serve the property. The roof was installed in August 2025, and the central air conditioning system was replaced in 2017.
The property sits on a 0.213-acre lot at 1000 Hoffman Avenue in Des Moines, Iowa, near Madison Elementary. A detached two-car garage provides on-site parking, while public water and public sewer serve the property. The roof was installed in August 2025, and the central air conditioning system was replaced in 2017.
Key Highlights
- Duplex with 1,404 square feet on a 0.213‑acre lot
- Each unit offers approximately 500 square feet of finished lower‑level space
- Detached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,099
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,980
$262.0K
Cap Rate 7%
$187,129
$187.1K
Cap Rate 9%
$145,544
$145.5K
Market Conditions
NOI Build-Up for 1,404 SF
Gross rent
$19.4K $13.80/SF
− Vacancy
−$663 −$0.47/SF
EGI
$18.7K $13.33/SF
− OpEx
−$5.6K −$4.00/SF
NOI
$13.1K $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 Rate 5%
$261,980
Cap Rate 7%
$187,129
Cap Rate 9%
$145,544
Alternative Uses
Best Use
Multifamily LT 5
$187.1K
$163.7K – $218.3K
NOI $13,099 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$167.2K
$146.3K – $195.0K
NOI $11,702 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$345.8K
$302.6K – $403.4K
NOI $24,205 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 50316, IA
16,785
Population
6,002
Households
2.8
Avg Household Size
33
Median Age
13%
College-Educated
78%
High-School Grad
3.6 sq mi
ZIP Area
4,663
Density / Sq Mi
$53,090
Median Household Income
$33,994
Median Earnings
$963
Median Rent
$137,300
Median Home Value
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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 - Two-unit residential property with finished lower-level areas, central air, and public utilities near Madison Elementary.
Where is this duplex located?
The property is located at 1000 Hoffman 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: Duplex with 1,404 square feet on a 0.213‑acre lot; Each unit offers approximately 500 square feet of finished lower‑level space; Detached 2‑car garage
