2-Unit Duplex with
New
For Sale
$299,000
1005 Lyndale Drive, Polk City, IA 50226
MultiFamily, Duplex, Polk City, IA
Property Size1,008 SF
Lot Size0.36 Acres
Price / SF$296.63
Days on Market2
Property Features for 1005 Lyndale Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2
Parking features
Garage
Appliances
Cooktop, Dishwasher, Microwave, 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
Active
APN
26100208202001
Size
1,008 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
-EX NELY 70F MEAS ON NWLY LN- LOT 2 FOREST HEIGHTS PLAT 5
Tax Annual Amount
4875
Legal Description
-EX NELY 70F MEAS ON NWLY LN- LOT 2 FOREST HEIGHTS PLAT 5
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1978
Number of units
4
Flooring type
Carpet
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
LPT Realty, LLC
(515) 669-4010
Listed By:
Rob Mordini
(515) 783-7178
Added: Oct 22
Last Checked: Oct 23 at 1:06AM
MLS# 751731
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 1978 duplex contains two 2-bedroom residences, each with an individual garage, central air conditioning, and heat-pump heating. The property measures 1,008 square feet on a 0.363-acre lot and is zoned R-2.
Tenants pay for utilities, water, and trash. The property has a history of occupancy without vacancies.
Tenants pay for utilities, water, and trash. The property has a history of occupancy without vacancies.
Key Highlights
- Two residences, each with 2 bedrooms and an individual garage
- 1,008 square feet on a 0.363‑acre lot
- Central air conditioning and heat‑pump heating in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,943
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$178,860
$178.9K
Cap Rate 7%
$127,757
$127.8K
Cap Rate 9%
$99,367
$99.4K
Market Conditions
NOI Build-Up for 1,008 SF
Gross rent
$13.5K $13.44/SF
− Vacancy
−$772 −$0.77/SF
EGI
$12.8K $12.67/SF
− OpEx
−$3.8K −$3.80/SF
NOI
$8.9K $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%
$178,860
Cap Rate 7%
$127,757
Cap Rate 9%
$99,367
Alternative Uses
Best Use
Multifamily LT 5
$127.8K
$111.8K – $149.1K
NOI $8,943 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$111.7K
$97.7K – $130.3K
NOI $7,817 @ 7.0% cap · market cap 2.61%
Theoretical Best
Flex RnD
$970.3K
$849.0K – $1.13M
NOI $67,923 @ 7.0% cap · market cap 22.72%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
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 includes two bedrooms, central air, and a heat pump; tenants cover utilities, water, and trash.
Where is this duplex located?
The property is located at 1005 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 residences, each with 2 bedrooms and an individual garage; 1,008 square feet on a 0.363‑acre lot; Central air conditioning and heat‑pump heating in both units
