Duplex with Individual
For Sale
$299,000
Pending
1001 Lyndale Drive, Polk City, IA 50226
MultiFamily, Duplex, Polk City, IA
Property Size2,016 SF
Lot Size0.44 Acres
Days on Market49
Property Features for 1001 Lyndale Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4
Parking features
Garage
Appliances
Cooktop, Dishwasher, Refrigerator, Stove
Elementary school district
North Polk
Middle school district
North Polk
High school district
North Polk
Directions
Proceed west on W Broadway St. to Tyler. Proceed south to Lyndale Dr. Turn east and proceed to property which will be on your left.
Subdivision
Polk City
Standard status
Pending
APN
26100208203000
Size
2,016 SF
Lot size
0.44 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
LOT 3 FOREST HEIGHTS PLAT 5
Tax Annual Amount
4825
Legal Description
LOT 3 FOREST HEIGHTS PLAT 5
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
central air
high efficiency heat pump
Building Details
Year built
1978
Flooring type
Carpet
Building materials
VinylSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Buildings
1
Listing Agency:
LPT Realty, LLC
(515) 669-4010
Listed By:
Rob Mordini
(515) 783-7178
Added: Sep 10
Changed: Oct 24
Last Checked: Oct 28 at 8:06AM
MLS# 749088
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.
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Investment Insights
Based on property information with market context.
This Polk City duplex contains two residences, each configured with two bedrooms and an individual garage. Central air and heat-pump heating serve both units. One residence has recently received new paint and carpet. The property also includes cooktops, dishwashers, refrigerators, and stoves.
Built in 1978, the building measures 2,016 square feet on a 0.443-acre lot and is zoned R2. Public water and sewer serve the property. Tenants are responsible for utilities, water, and trash.
Built in 1978, the building measures 2,016 square feet on a 0.443-acre lot and is zoned R2. Public water and sewer serve the property. Tenants are responsible for utilities, water, and trash.
Key Highlights
- Two‑unit duplex with two bedrooms and an individual garage in each residence
- 2,016 square feet on a 0.443‑acre lot
- R2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,885
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,700
$357.7K
Cap Rate 7%
$255,500
$255.5K
Cap Rate 9%
$198,722
$198.7K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$27.1K $13.44/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$25.6K $12.67/SF
− OpEx
−$7.7K −$3.80/SF
NOI
$17.9K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,700
Cap Rate 7%
$255,500
Cap Rate 9%
$198,722
Alternative Uses
Best Use
Multifamily LT 5
$255.5K
$223.6K – $298.1K
NOI $17,885 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$223.3K
$195.4K – $260.6K
NOI $15,634 @ 7.0% cap · market cap 5.23%
Theoretical Best
Flex RnD
$1.94M
$1.70M – $2.26M
NOI $135,846 @ 7.0% cap · market cap 45.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 50226, IA
6,879
Population
2,517
Households
2.7
Avg Household Size
36
Median Age
48%
College-Educated
98%
High-School Grad
36.4 sq mi
ZIP Area
189
Density / Sq Mi
$161,627
Median Household Income
$76,033
Median Earnings
$746
Median Rent
$390,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, central air, and a heat pump for heating.
Where is this duplex located?
The property is located at 1001 Lyndale Drive Polk City, IA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and an individual garage in each residence; 2,016 square feet on a 0.443‑acre lot; R2 zoning
