Four-Unit Multifamily
1311 E 9th Street, Des Moines, IA 50316
For Sale
New
$250,000
MultiFamily, Des Moines, IA
Property Size2,531 SF
Lot Size0.33 Acres
Price / SF$98.78
Days on Market5
Property Features for 1311 E 9th Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Architectural style
Listing Agency:
Epique Realty
(319) 540-1002
Listed By:
Shonna Murrey
(515) 612-8939
Added: Nov 2
Changed: Nov 5
Last Checked: Nov 6 at 6:06PM
MLS# 751770
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 two-story multifamily building contains four units and 2,531 square feet of living area. Built in 1886, it has wood siding and sits on a 0.334-acre parcel in Des Moines. The property is zoned R1-60.
Key Highlights
- Four residential units
- 2,531 square feet of living area
- 0.334‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,095
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,900
$421.9K
Cap Rate 7%
$301,357
$301.4K
Cap Rate 9%
$234,389
$234.4K
Market Conditions
NOI Build-Up for 2,531 SF
Gross rent
$39.8K $15.72/SF
− Vacancy
−$1.4K −$0.57/SF
EGI
$38.4K $15.15/SF
− OpEx
−$17.3K −$6.82/SF
NOI
$21.1K $8.33/SF
Area
Des Moines, IA
Vacancy
3.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,900
Cap Rate 7%
$301,357
Cap Rate 9%
$234,389
Alternative Uses
Best Use
Multifamily LT 5
$337.3K
$295.2K – $393.6K
NOI $23,613 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$301.4K
$263.7K – $351.6K
NOI $21,095 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$623.3K
$545.4K – $727.2K
NOI $43,634 @ 7.0% cap · market cap 17.45%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
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Business Placement
Demographics for 50316, IA
16,785
Population
6,002
Households
2.8
Avg Household Size
33
Median Age
13%
College-Educated
78%
High-School Grad
3.6 sq mi
ZIP Area
4,663
Density / Sq Mi
$53,090
Median Household Income
$33,994
Median Earnings
$963
Median Rent
$137,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The two-story property contains four residential units in Des Moines.
Where is this quadplex located?
The property is located at 1311 E 9th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Four residential units; 2,531 square feet of living area; 0.334‑acre parcel
