Duplex with Finished
For Sale
$199,900
1175 21st Street, Des Moines, IA 50311
Residential Income, Des Moines, IA
Property Size1,842 SF
Lot Size0.21 Acres
Price / SF$108.52
Days on Market9
Property Features for 1175 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
N5-4
Elementary school district
Des Moines
Middle school district
Des Moines
High school district
Des Moines
Directions
From 235, go north on 19th St to University Ave & turn left. Go to 21st St & turn left to home on the left. SE corner of University Ave & 21st St.
Subdivision
Des Moines
Standard status
Active
APN
030/05120-001-000
Size
1,842 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
LOT 9 & S 20F LOT 10 T M WALKERS ELM GROVE ADD
Tax Annual Amount
2514
Legal Description
LOT 9 & S 20F LOT 10 T M WALKERS ELM GROVE ADD
Amenities
laundry
detached garage
Building Details
Year built
1909
Number of units
2
Listing Agency:
Weichert, Realtors(R)-Miller & Clark Agency
(515) 232-SELL
Listed By:
Jason Miller · License #S60465
(515) 708-1128
Added: Sep 29
Last Checked: Oct 7 at 12:06PM
MLS# 71382
Copyright © 2026 Central Iowa Board 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.
Built in 1909, this two-story duplex contains 1,842 square feet on a 0.21-acre lot. The main-floor unit has 2 bedrooms and 1 bathroom. The upper unit includes a finished attic, 4 bedrooms, and 2 bathrooms. Both residences can access the basement laundry area, and laundry hookups are also available upstairs.
The property is next to Drake University. Parking includes a detached garage sized for 2+ cars and additional space off the driveway. The zoning designation is N5-4.
The property is next to Drake University. Parking includes a detached garage sized for 2+ cars and additional space off the driveway. The zoning designation is N5-4.
Key Highlights
- Two‑story duplex with 1,842 square feet
- Main‑floor unit has 2 bedrooms and 1 bathroom
- Upper unit features a finished attic, 4 bedrooms, and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,185
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,700
$343.7K
Cap Rate 7%
$245,500
$245.5K
Cap Rate 9%
$190,944
$190.9K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$25.4K $13.80/SF
− Vacancy
−$869 −$0.47/SF
EGI
$24.6K $13.33/SF
− OpEx
−$7.4K −$4.00/SF
NOI
$17.2K $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%
$343,700
Cap Rate 7%
$245,500
Cap Rate 9%
$190,944
Alternative Uses
Best Use
Multifamily LT 5
$245.5K
$214.8K – $286.4K
NOI $17,185 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$219.3K
$191.9K – $255.9K
NOI $15,353 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$453.6K
$396.9K – $529.3K
NOI $31,755 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
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Business Placement
Demographics for 50311, IA
14,782
Population
7,180
Households
2.1
Avg Household Size
30
Median Age
41%
College-Educated
94%
High-School Grad
2.6 sq mi
ZIP Area
5,685
Density / Sq Mi
$63,233
Median Household Income
$35,086
Median Earnings
$1,019
Median Rent
$228,000
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 units provide different bedroom and bathroom layouts, with laundry access in the basement and hookups upstairs.
Where is this duplex located?
The property is located at 1175 21st Street Des Moines, IA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑story duplex with 1,842 square feet; Main‑floor unit has 2 bedrooms and 1 bathroom; Upper unit features a finished attic, 4 bedrooms, and 2 bathrooms
