Two-Story Side-by-Side
1309 Southeast Wanda Drive, Ankeny, IA 50021
For Sale
New
$364,000
Each residence has lower-level laundry, while tenants pay separately metered gas, electric, and water utilities.
Property Size2,146 SF
Days on Market6
Property Features for 1309 Southeast Wanda Drive
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Amenities
deck
partial fencing
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
RE/MAX
Listed By:
Shane Torres · License IA #475187323
(515) 984-0222
Source:
Remaxcommercial
Added: Nov 8
Changed: Nov 11
Last Checked: Nov 12 at 4:10AM
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.
This Ankeny duplex pairs two-story, side-by-side residences with distinct layouts. One unit has three bedrooms, 1.5 bathrooms, and a partially finished lower level; the other offers two upper-level bedrooms, 1.5 bathrooms, a finished lower level, and a private two-car garage. Both residences include lower-level laundry, furnace-room storage, and basement egress windows. A deck and partial fencing are also on site.
Recent work includes a roof, windows, gutters, HVAC systems, and egress windows. Gas, electric, and water are separately metered, with tenants paying those utility costs. Tenants also take care of lawn maintenance and snow removal. Long-term tenants are in place.
Recent work includes a roof, windows, gutters, HVAC systems, and egress windows. Gas, electric, and water are separately metered, with tenants paying those utility costs. Tenants also take care of lawn maintenance and snow removal. Long-term tenants are in place.
Key Highlights
- Side‑by‑side duplex with one 3‑bedroom unit and one 2‑bedroom unit
- Each unit has 1.5 bathrooms and lower‑level laundry
- Private 2‑car garage serves the 2‑bedroom unit
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
Office A
$528.5K
$462.5K – $616.6K
NOI $36,996 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
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
$295,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 has lower-level laundry, while tenants pay separately metered gas, electric, and water utilities.
Where is this duplex located?
The property is located at 1309 Southeast 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: Side‑by‑side duplex with one 3‑bedroom unit and one 2‑bedroom unit; Each unit has 1.5 bathrooms and lower‑level laundry; Private 2‑car garage serves the 2‑bedroom unit
