Side-by-Side
New
For Sale
$364,000
1309-1311 SE Wanda Dr, Ankeny, IA 50021
Gas, electric, and water are separately metered, with tenants paying those utility costs directly.
Property Size2,146 SF
Price / SF$169.62
Days on Market4
Property Features for 1309-1311 SE Wanda Dr
General Information
Standard status
Active
Size
2,146 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Individually Metered Utilities
gas, electric, water
Additional Details
Tenant in Place
Yes
Amenities
deck
partial fencing
Building Details
Year Built
1979
Buildings
1
Stories
2
Listing Agency:
Stanbrough Realty Company
(515) 334-3345
Listed By:
Home Sweet Des Moines
(515) 783-9815
Source:
Homesweetdesmoines
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 4:14PM
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 Stanbrough Realty Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1309-1311 SE Wanda Dr in Ankeny, this 2,146-square-foot duplex was built in 1979 and contains two side-by-side, two-story units. The 1309 unit has three bedrooms, one and a half bathrooms, and a partially finished lower level. The 1311 unit offers two upper-level bedrooms, one and a half bathrooms, a finished lower level, and a private two-car garage. Both homes have lower-level laundry, furnace-room storage, and basement egress windows; the property also includes a deck and partial fencing.
Updates include the roof, windows, gutters, HVAC systems, and egress windows. Gas, electric, and water are separately metered, and tenants pay those utility bills directly. Tenants also manage lawn care and snow removal. Long-term tenants are in place.
Updates include the roof, windows, gutters, HVAC systems, and egress windows. Gas, electric, and water are separately metered, and tenants pay those utility bills directly. Tenants also manage lawn care and snow removal. Long-term tenants are in place.
Key Highlights
- 2,146‑square‑foot side‑by‑side duplex
- Two‑story layout with three bedrooms in one unit and two in the other
- 1311 unit has a private two‑car garage and finished lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,039
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,780
$380.8K
Cap Rate 7%
$271,986
$272.0K
Cap Rate 9%
$211,544
$211.5K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$28.8K $13.44/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$27.2K $12.67/SF
− OpEx
−$8.2K −$3.80/SF
NOI
$19.0K $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%
$380,780
Cap Rate 7%
$271,986
Cap Rate 9%
$211,544
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.3K
NOI $19,039 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$237.7K
$208.0K – $277.4K
NOI $16,642 @ 7.0% cap · market cap 4.57%
Theoretical Best
Flex RnD
$2.07M
$1.81M – $2.41M
NOI $144,606 @ 7.0% cap · market cap 39.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 50021, IA
28,807
Population
12,463
Households
2.3
Avg Household Size
36
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,195
Density / Sq Mi
$98,847
Median Household Income
$55,108
Median Earnings
$1,434
Median Rent
$295,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Gas, electric, and water are separately metered, with tenants paying those utility costs directly.
Where is this duplex located?
The property is located at 1309-1311 SE Wanda Dr Ankeny, IA.
What is the asking price?
The asking price for this property is $364,000.
What are key features of this property?
This property features: 2,146‑square‑foot side‑by‑side duplex; Two‑story layout with three bedrooms in one unit and two in the other; 1311 unit has a private two‑car garage and finished lower level
