2-Unit Duplex with Private
1201 Northwest Linden Street, Ankeny, IA 50023
For Sale
New
$348,400
Each residence includes in-unit laundry, a detached garage, and separate utility meters.
Property Size1,520 SF
Days on Market5
Property Features for 1201 Northwest Linden Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Parking per Unit
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Amenities
in-unit laundry
private patio
storage rooms
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
RE/MAX
Listed By:
Shane Torres · License IA #475187323
(515) 984-0222
Source:
Remaxcommercial
Added: Nov 8
Last Checked: Nov 10 at 5:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX
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Investment Insights
Based on property information with market context.
Built in 1976, this Ankeny duplex contains two residences, each with 2 bedrooms, in-unit laundry, and a private detached one-stall garage. Paved driveways serve the units, and each has an unfinished lower-level area for furnace equipment and storage. One residence also has a private patio. Egress windows are installed in both units.
Property improvements include a roof installed in 2020 and HVAC updates in 2021 and 2024. Gas, electric, and water are separately metered, with tenants paying those utility costs directly. One unit is occupied and the other is vacant. The property is located on Northwest Linden Street in Ankeny, Iowa.
Property improvements include a roof installed in 2020 and HVAC updates in 2021 and 2024. Gas, electric, and water are separately metered, with tenants paying those utility costs directly. One unit is occupied and the other is vacant. The property is located on Northwest Linden Street in Ankeny, Iowa.
Key Highlights
- Two residences, each with 2 bedrooms and in‑unit laundry
- Detached one‑stall garage and paved driveway for each unit
- Roof replaced in 2020; HVAC updates completed in 2021 and 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,485
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,700
$269.7K
Cap Rate 7%
$192,643
$192.6K
Cap Rate 9%
$149,833
$149.8K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$20.4K $13.44/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$19.3K $12.67/SF
− OpEx
−$5.8K −$3.80/SF
NOI
$13.5K $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%
$269,700
Cap Rate 7%
$192,643
Cap Rate 9%
$149,833
Alternative Uses
Best Use
Multifamily LT 5
$192.6K
$168.6K – $224.8K
NOI $13,485 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$168.4K
$147.4K – $196.5K
NOI $11,788 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$374.3K
$327.6K – $436.7K
NOI $26,204 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 50023, IA
43,603
Population
17,822
Households
2.4
Avg Household Size
34
Median Age
55%
College-Educated
99%
High-School Grad
21.0 sq mi
ZIP Area
2,076
Density / Sq Mi
$113,914
Median Household Income
$59,891
Median Earnings
$1,191
Median Rent
$327,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Polk County, IA
Properties on Market for Duplexes in Polk County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes in-unit laundry, a detached garage, and separate utility meters.
Where is this duplex located?
The property is located at 1201 Northwest Linden Street Ankeny, IA.
What is the asking price?
The asking price for this property is $348,400.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and in‑unit laundry; Detached one‑stall garage and paved driveway for each unit; Roof replaced in 2020; HVAC updates completed in 2021 and 2024
