Two-Unit Residential Income
1319 39th Street, Des Moines, IA 50311
MULTI_FAMILY - Other - Des Moines, IA
Type:Duplex
Property size:
1,972 SFLot size:
0.16 AcresPrice / SF:
$162/SF- Added:
- Apr 27, 2026
- Days on Market:
- 62
- Last Refresh:
- Jun 27 at 10:06 pm
Property Features for 1319 39th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- N5
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Basement, Bathroom 1, Bedroom 3
- 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
- MetalSiding, Stucco
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Amy Dempsey (323) 204-1936
Listing office RE/MAX Precision 5465 Mills Civic Pkwy, Ste.200, Clive, IA (515) 223-9492
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.
HighLights
- Additional 399 sq ft studio apartment with its own separate entrance, kitchen, and full bathroom
- 3‑bedroom, 1.5‑bath two‑story home with main floor laundry and open living/dining area
- 270 sq ft covered deck for outdoor entertaining and relaxing
- Oversized 24x28 detached garage
- Central air and forced‑air natural gas heating; public water and public sewer
- Unfinished basement plus original craftsman woodwork and built‑ins on the main level
Overview
This for-sale residential income property features a two-story main home plus an additional studio apartment with a separate entrance. The studio includes its own kitchen and full bathroom, creating a self-contained option for rental income, guest use, or private in-law arrangements. The main home is described as having 3 bedrooms and 1.5 bathrooms, with main-floor laundry and an open living and dining layout. Original craftsman style woodwork and built-ins are noted throughout the main level, along with a dedicated office with French doors. Storage is described as abundant, and there is a sizeable unfinished basement for customization. Outdoor living includes a covered deck measuring 270 square feet. An oversized 24x28 detached garage is also included.
The property sits on a 0.162-acre lot in Des Moines, IA 50311. The listing remarks indicate the home is located just minutes from Beaverdale.
For tenants, buyers, or operators seeking flexibility, the separate studio apartment entrance and full bath support a practical two-unit setup within one property. The additional unfinished basement and dedicated office space may appeal to residents who want room to work from home or to expand usable living area over time.
The property sits on a 0.162-acre lot in Des Moines, IA 50311. The listing remarks indicate the home is located just minutes from Beaverdale.
For tenants, buyers, or operators seeking flexibility, the separate studio apartment entrance and full bath support a practical two-unit setup within one property. The additional unfinished basement and dedicated office space may appeal to residents who want room to work from home or to expand usable living area over time.
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
NOI $18,398 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$234.8K
$205.5K – $273.9K
NOI $16,436 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$485.7K
$425.0K – $566.6K
NOI $33,997 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.669582
- Latitude
- 41.602916
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - A two-story home with a separate studio apartment entrance offers flexible rental or in-law living arrangements.
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 $319,900.
What are key features of this property?
This property features: Additional 399 sq ft studio apartment with its own separate entrance, kitchen, and full bathroom; 3‑bedroom, 1.5‑bath two‑story home with main floor laundry and open living/dining area; 270 sq ft covered deck for outdoor entertaining and relaxing
