Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Income-Generating Home with Studio Apartment Title is generated by Realmo AI

    1319 39th Street, Des Moines, IA 50311

    View on Map
    Claim this Listing
    For Sale
    $324,900

    MULTI_FAMILY - Other - Des Moines, IA

    Type:Duplex
    Property size:
    1,972 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $164/SF
    Added:
    Apr 27, 2026
    Days on Market:
    35
    Last Refresh:
    May 31 at 4:06 pm

    Property Features for 1319 39th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    N5
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Basement, Bedroom 3, Bedroom 1, Bathroom 4
    Parking features
    Garage
    Patio and Porch features
    Deck
    Interior features
    SeparateFormalDiningRoom
    Exterior features
    Deck
    Appliances
    Dryer, Dishwasher, Microwave, Refrigerator, Stove
    Standard status
    Active
    APN
    10002415000000
    Size
    1,972 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    N 62.56 FT W 113 FT LOT 47 CHETWYND
    Tax Annual Amount
    5084

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1921
    Floors in Building
    2
    Flooring type
    Vinyl, Carpet
    Building materials
    CementSiding, MetalSiding, Stucco
    Roof type
    Shingle, Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Amy Dempsey
    Amy Dempsey

    Listing agent Amy Dempsey

    Listing office RE/MAX Precision 5465 Mills Civic Pkwy, Ste.200, Clive, IA

    Listing date Apr 27, 2026

    MLS# 739329 Listing URL

    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.

    Overview

    This two-story home presents an income opportunity with an additional 399 sqft studio apartment, featuring a separate entrance, kitchen, and full bathroom. This setup is ideal for generating rental income, hosting guests, or creating a private in-law suite. The property, located minutes from Beaverdale, includes a 3-bedroom, 1 1/2-bath home with original craftsman-style woodwork and built-ins on the main level. The layout features main floor laundry with an added half bath, an open-concept living and dining space, and a dedicated office with classic French doors. Storage is abundant throughout the home. A sizeable unfinished basement offers customization potential. The property includes a 270 sq ft covered deck suitable for entertaining and relaxation. An oversized 24x28 detached garage provides extra space for car enthusiasts or hobbyists. The lot size is 0.162 acres. The property size is 1972 Square Feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $27.2k $13.80
    − Vacancy −$931 −$0.47
    EGI $26.3k $13.33
    − OpEx −$7.9k −$4.00
    NOI $18.4k $9.33
    1,972 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $262.8K
    $230.0K – $306.6K (±1% cap)
    NOI $18,398 @ 7.0% cap · market cap 5.66%
    Second Best
    Apartment 5plus
    $234.8K
    $205.5K – $273.9K (±1% cap)
    NOI $16,436 @ 7.0% cap · market cap 5.06%
    Theoretical Best
    Office A
    $485.7K
    $425.0K – $566.6K (±1% cap)
    NOI $33,997 @ 7.0% cap · market cap 10.46%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.669582
    Latitude
    41.602916

    Nearby Similar for Sale

    • $595,000
      3,967 SF

      Grand Avenue Multifamily Investment

      Multi-family property with strong income potential in desirable Grand Avenue.
      3103 Grand Avenue, Des Moines, IA 50312
      View Details
    • $549,000
      4,025 SF

      Turnkey Multifamily Investment Opportunity

      Five-unit multifamily property in the Waterbury neighborhood.
      543 53rd Street, Des Moines, IA 50312
      View Details
    • $385,000
      3,367 SF

      Des Moines Multifamily Investment Opportunity

      Five-unit property in Kingman neighborhood with off-street parking.
      2931 Kingman Boulevard, Des Moines, IA 50311
      View Details
    • $330,000
      2,522 SF

      Multifamily Property in Drake Area

      Five-unit building with income potential in Des Moines, Iowa.
      2936 Brattleboro Avenue, Des Moines, IA 50311
      View Details
    • $309,900
      2,352 SF

      Updated Duplex in Des Moines

      Updated duplex with tenant, new roof, HVAC, and updated wiring.
      2404 57th Street, Des Moines, IA 50310
      View Details
    • $310,000
      2,509 SF

      Des Moines Fourplex Investment Opportunity

      Fourplex near Drake College, ideal for investors or owner-occupants.
      1148 36th Street, Des Moines, IA 50311
      View Details
    • $219,900
      2,136 SF

      Spacious Ranch Home with Potential

      Ranch home with flexible space and income potential.
      1829 47th Street, Des Moines, IA 50310
      View Details
    • $279,900
      3,306 SF

      Income-Producing Multifamily Property in Des Moines

      Seven-unit multifamily property with immediate cash flow and future upside.
      3419 1st Street, Des Moines, IA 50313
      View Details
    • $475,000
      5,692 SF

      Sherman Hill Multifamily Investment

      Six-unit property in Des Moines' desirable Sherman Hill neighborhood.
      686 19th Street, Des Moines, IA 50314
      View Details
    • $249,900
      1,513 SF

      Versatile Multi-Family Residence

      Multi-family residence with income potential and flexible living options.
      1242 Mckinley Avenue, Des Moines, IA 50315
      View Details
    • $275,000
      2,013 SF

      Updated Triplex in Des Moines

      Turnkey investment property with updated units and cash-flow potential.
      900 Morton Avenue, Des Moines, IA 50316
      View Details
    • $375,000
      3,174 SF

      Sherman Hill Multifamily Investment Opportunity

      Seven-unit property in Des Moines' historic Sherman Hill neighborhood.
      732 19th Street, Des Moines, IA 50314
      View Details

    FAQs

    What type of property is this?
    Duplex - Charming two-story home with income potential near Beaverdale.
    Where is this duplex located?
    The property is located at 1319 39th Street Des Moines, IA.
    What is the asking price?
    The asking price for this property is $324,900.
    (323) 204-1936
    We can help!
    Listing Contact
    Amy Dempsey
    Amy Dempsey
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1319 39th Street, Des Moines, IA 50311
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!