1355 24th Street, Des Moines, IA 50311
MULTI_FAMILY - Other - Des Moines, IA
- Added:
- Jul 2, 2026
- Days on Market:
- 1
- Last Refresh:
- Jul 2 at 5:06 pm
Property Features for 1355 24th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NX1
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Basement, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1
- Parking features
- Garage
- Standard status
- Active
- APN
- 08001569000000
- Size
- 2,064 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Description
- LOT 7 DRAKE UNIVERSITY OP
- Tax Annual Amount
- 3700
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1897
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- VinylSiding
- Architectural style
- Other
Listing agent Heather Wright License #S60534000 (515) 229-2012
Listing office RE/MAX Concepts 6205 Merle Hay Rd, Ste. 120, IA (515) 276-2872
Listing date Jul 2, 2026
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
- Turn‑key duplex with 2 occupied units on month‑to‑month leases
- Each unit has 2 bedrooms and 1 bathroom with independent layouts
- Appliances stay with the property, including a dedicated washer/dryer setup for each unit
- Upper unit updated within the last two years with newer appliances and LVP flooring
- Lower unit includes a newer refrigerator
- Utilities: tenants pay their own electric; landlord pays gas and water; detached garage electricity tied to the upper unit meter
Overview
The property is located at 1355 24th Street in Des Moines, IA, within walking distance of Drake University. The zoning is listed as NX1.
For buyers and investors, this duplex provides an immediately occupied setup with both units on month-to-month leases. The configuration suits tenants seeking separate living spaces within a single building, and the in-unit laundry supports daily convenience. For qualified buyers, the listing notes a possible assumable VA loan option. Please contact your agent to schedule a tour and confirm details and lease terms.
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 | $28.5k | $13.80 |
| − Vacancy | −$974 | −$0.47 |
| EGI | $27.5k | $13.33 |
| − OpEx | −$8.3k | −$4.00 |
| NOI | $19.3k | $9.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.649284
- Latitude
- 41.603378
