Updated Two-Unit
For Sale
$365,000
1317 Randall Pl, Des Moines, IA 50311
Two separate residences combine refreshed interiors with finished lower-level living areas.
Property Size2,274 SF
Price / SF$160.51
Days on Market19
Property Features for 1317 Randall Pl
General Information
Standard status
Active
Size
2,274 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Drake
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,788
Amenities
fireplace
Listing Agency:
Iowa Realty South
(515) 453-6300
Listed By:
Marcus Sereg
(515) 453-5897
Source:
Exprealty
Added: Oct 9
Changed: Oct 26
Last Checked: Oct 26 at 7:31PM
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 Iowa Realty South
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Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom residences, each with a fireplace and finished lower-level living space with a 3/4 bath. Both units have updated appliances, kitchens, paint, and flooring. A full bath is located on the second floor of each unit; one residence also has a half bath on the main level. The property totals 2,274 square feet.
Exterior paint and the roof were replaced in spring 2026. The Des Moines address is 1317 Randall Pl.
Exterior paint and the roof were replaced in spring 2026. The Des Moines address is 1317 Randall Pl.
Key Highlights
- Two 2‑bedroom units, with 2,274 square feet total
- Finished lower‑level living area and 3/4 bath in each unit
- Fireplace in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,216
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,320
$424.3K
Cap Rate 7%
$303,086
$303.1K
Cap Rate 9%
$235,733
$235.7K
Market Conditions
NOI Build-Up for 2,274 SF
Gross rent
$31.4K $13.80/SF
− Vacancy
−$1.1K −$0.47/SF
EGI
$30.3K $13.33/SF
− OpEx
−$9.1K −$4.00/SF
NOI
$21.2K $9.33/SF
Area
Des Moines, IA
Vacancy
3.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,320
Cap Rate 7%
$303,086
Cap Rate 9%
$235,733
Alternative Uses
Best Use
Multifamily LT 5
$303.1K
$265.2K – $353.6K
NOI $21,216 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$270.8K
$236.9K – $315.9K
NOI $18,953 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$560.0K
$490.0K – $653.4K
NOI $39,203 @ 7.0% cap · market cap 10.74%
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
538
Businesses Nearby
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Business Placement
Demographics for 50311, IA
14,782
Population
7,180
Households
2.1
Avg Household Size
30
Median Age
41%
College-Educated
94%
High-School Grad
2.6 sq mi
ZIP Area
5,685
Density / Sq Mi
$63,233
Median Household Income
$35,086
Median Earnings
$1,019
Median Rent
$228,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine refreshed interiors with finished lower-level living areas.
Where is this duplex located?
The property is located at 1317 Randall Pl Des Moines, IA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two 2‑bedroom units, with 2,274 square feet total; Finished lower‑level living area and 3/4 bath in each unit; Fireplace in each residence
