Side-by-Side
New
For Sale
$364,000
1309-1311 SE Wanda Drive, Ankeny, IA 50021
MultiFamily, Ankeny, IA
Property Size2,146 SF
Lot Size0.25 Acres
Price / SF$169.62
Days on Market6
Property Features for 1309-1311 SE Wanda Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 1
Parking features
Garage
Elementary school district
Ankeny
Middle school district
Ankeny
High school district
Ankeny
Directions
SE MAGAZINE RD TO se WAND DR
Subdivision
Ankeny
Standard status
Active
APN
18100809102000
Size
2,146 SF
Lot size
0.25 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
gas, electric, water
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 52 WAYWIN ACRES PLAT NO 3
Tax Annual Amount
4408
Legal Description
LOT 52 WAYWIN ACRES PLAT NO 3
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
deck
partial fencing
lower-level laundry
additional storage
Building Details
Year built
1979
Floors in Building
2
Number of units
2
Building materials
Brick, MetalSiding
Architectural style
Other
Buildings
1
Listing Agency:
RE/MAX Concepts · RE/MAX International
(877) 407-2676
Listed By:
Stephanie Thomas
(515) 771-7788
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 27 at 3:06AM
MLS# 751787
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 side-by-side, two-story duplex in Ankeny contains 2,146 square feet on a 0.245-acre lot and was built in 1979. Unit 1309 has three bedrooms, 1.5 bathrooms, and a partially finished lower level. Unit 1311 has two upper-level bedrooms, 1.5 bathrooms, a finished lower level, and a private two-car garage. Both residences include lower-level laundry and basement egress windows; the property also has a deck and partial fencing.
Recent improvements include the roof, windows, gutters, HVAC systems, and egress windows. Gas, electric, and water are separately metered, with tenants paying those utilities. Tenants also take care of lawn maintenance and snow removal. The property is zoned R2.
Recent improvements include the roof, windows, gutters, HVAC systems, and egress windows. Gas, electric, and water are separately metered, with tenants paying those utilities. Tenants also take care of lawn maintenance and snow removal. The property is zoned R2.
Key Highlights
- Two‑story duplex with 2,146 square feet on a 0.245‑acre lot
- Built in 1979; zoned R2
- Unit 1309: 3 bedrooms, 1.5 bathrooms, and a partially 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences have separate utility meters, lower-level laundry, and different bedroom configurations.
Where is this duplex located?
The property is located at 1309-1311 SE Wanda Drive 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: Two‑story duplex with 2,146 square feet on a 0.245‑acre lot; Built in 1979; zoned R2; Unit 1309: 3 bedrooms, 1.5 bathrooms, and a partially finished lower level
