Two-Unit Duplex with
For Sale
$175,000
Pending
1019/1021 Kirkwood Avenue, Des Moines, IA 50315
MultiFamily, Duplex, Des Moines, IA
Property Size1,586 SF
Lot Size0.16 Acres
Days on Market130
Property Features for 1019/1021 Kirkwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
N3B
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking features
Garage
Interior features
CableTv, WindowTreatments
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
Lot features
Rectangular Lot
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
SW 9th to Kirkwood, west to home.
Subdivision
Des Moines S.West
Standard status
Pending
APN
01003146001000
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
Legal Description
S 1/2 VAC E/W ALLEY N & ADJ & LT 41 KIRKWOOD HEIGHTS
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) 967-2903
Added: Jun 10
Changed: Sep 16
Last Checked: Oct 17 at 5:06PM
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.
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Investment Insights
Based on property information with market context.
This 1,586-square-foot duplex contains two separate residences on a 0.1584-acre lot. The main-level unit offers two bedrooms, one bathroom, a full kitchen, and lower-level storage, along with access to a detached two-car garage. The upper unit includes one bedroom and one bathroom. Appliances convey with both units, including stoves, refrigerators, dishwashers, microwaves, washers, and dryers.
Built in 1910, the property features metal siding, carpet flooring, public water, and public sewer. Recent improvements include a new roof in 2025, a new furnace in 2025, and a new central air system in 2026. The property is zoned N3B and is located near a bus line, MacRae Park, and Lincoln High School, with downtown described as a short commute away.
Built in 1910, the property features metal siding, carpet flooring, public water, and public sewer. Recent improvements include a new roof in 2025, a new furnace in 2025, and a new central air system in 2026. The property is zoned N3B and is located near a bus line, MacRae Park, and Lincoln High School, with downtown described as a short commute away.
Key Highlights
- 1,586‑square‑foot duplex on a 0.1584‑acre lot
- Two‑bedroom main‑level unit plus one‑bedroom upper unit
- Detached two‑car garage with access from the main‑level residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,797
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,940
$295.9K
Cap Rate 7%
$211,386
$211.4K
Cap Rate 9%
$164,411
$164.4K
Market Conditions
NOI Build-Up for 1,586 SF
Gross rent
$21.9K $13.80/SF
− Vacancy
−$749 −$0.47/SF
EGI
$21.1K $13.33/SF
− OpEx
−$6.3K −$4.00/SF
NOI
$14.8K $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%
$295,940
Cap Rate 7%
$211,386
Cap Rate 9%
$164,411
Alternative Uses
Best Use
Multifamily LT 5
$211.4K
$185.0K – $246.6K
NOI $14,797 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,219 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$390.6K
$341.8K – $455.7K
NOI $27,342 @ 7.0% cap · market cap 15.62%
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
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
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 - Updated income property with appliances included in both residences.
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 $175,000.
What are key features of this property?
This property features: 1,586‑square‑foot duplex on a 0.1584‑acre lot; Two‑bedroom main‑level unit plus one‑bedroom upper unit; Detached two‑car garage with access from the main‑level residence
