Duplex with Two Income
1019/1021 Kirkwood Avenue Des Moines, IA 50315
For Sale
$195,000
MULTI_FAMILY - Other - Des Moines, IA
Property Size1,586 SF
Lot Size0.16 Acres
Price / SF$122.95
Days on Market49
Property Features for 1019/1021 Kirkwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
N3B
Bedrooms
3
Bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3
Parking features
Garage
Interior features
CableTv, WindowTreatments
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
Standard status
Active
APN
010-03146001000
Size
1,586 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
S 1/2 VAC E/W ALLEY N & ADJ & LT 41 KIRKWOOD HEIGHTS
Tax Annual Amount
3664
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Carpet
Building materials
MetalSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Pennie Carroll & Associates
(515) 490-8025
Listed By:
Pennie Carroll · License #F05964000
(515) 490-8025
Added: Jun 10
Changed: Jul 23
Last Checked: Jul 28 at 2:06AM
MLS# 742820
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 for-sale duplex offers two separate residential units with an owner-operator or investor focus. The main-level unit features two bedrooms, one bath, a full kitchen, and additional storage in the lower level, along with access to a detached two-car garage. The upstairs unit is a one-bedroom configuration with a practical layout. Appliances are included in both units, supporting an easier transition for a new owner.
The property is located near a bus line, with a short commute to downtown. It is also described as being close to MacRae Park and Lincoln High School, which may be useful context for tenant convenience.
Recent updates are highlighted in the listing, including low-maintenance siding, a new roof in 2025, and a new HVAC system in 2025. Both units have a history of long-term tenants who are currently in good standing, and the property has been maintained by the same family for many years. For buyers seeking a duplex structure with two rental doors and documented system upgrades, this layout and improvement package provides a clear, turnkey-focused profile based on the information provided.
The property is located near a bus line, with a short commute to downtown. It is also described as being close to MacRae Park and Lincoln High School, which may be useful context for tenant convenience.
Recent updates are highlighted in the listing, including low-maintenance siding, a new roof in 2025, and a new HVAC system in 2025. Both units have a history of long-term tenants who are currently in good standing, and the property has been maintained by the same family for many years. For buyers seeking a duplex structure with two rental doors and documented system upgrades, this layout and improvement package provides a clear, turnkey-focused profile based on the information provided.
Key Highlights
- Duplex with two separate units: main‑level 2 bed/1 bath plus upper 1 bed unit
- Both units include appliances: refrigerator, stove, microwave, dishwasher, washer, and dryer
- Major 2025 updates: new roof and new HVAC system
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 | $21.9k | $13.80 |
| − Vacancy | −$749 | −$0.47 |
| EGI | $21.1k | $13.33 |
| − OpEx | −$6.3k | −$4.00 |
| NOI | $14.8k | $9.33 |
1,586 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$211.4K
$185.0K – $246.6K
NOI $14,797 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,219 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$390.6K
$341.8K – $455.7K
NOI $27,342 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residential units with included appliances, detached two-car garage access, and recent exterior and HVAC updates.
Where is this duplex located?
The property is located at 1019/1021 Kirkwood Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Duplex with two separate units: main‑level 2 bed/1 bath plus upper 1 bed unit; Both units include appliances: refrigerator, stove, microwave, dishwasher, washer, and dryer; Major 2025 updates: new roof and new HVAC system
