Historic Duplex with 2-Bed
1527 Forest Ave Des Des Moines, IA 50314
1527 Forest Ave Des, Des Moines, IA, 50314
$250,000
For Sale
$250,000
1924-built duplex with two occupied 2-bedroom, 1-bath units totaling 2,673 SF.
Property Size2,673 SF
Price / SF$93.53
Days on Market154
Property Features for 1527 Forest Ave Des
General Information
- Standard status
- Active
- Size
- 2,673 SF
- Property subtype
- MultiFamily Apartments
Building Details
- Year Built
- 1924
Listing agency
Better Commercial - Remax Concepts
(319) 231-1160
Listed by
Chase Keller · License #S63136000
(319) 231-1160
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 22 at 3:40AM Checked: Jul 22 at 3:40AM
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 Better Commercial - Remax Concepts
Investment Insights
Based on property information with market context.
Built in 1924, this historic duplex offers 2,673 SF of residential income space configured as two units. Both units are currently occupied and described as being in excellent condition, with no immediate renovations required. Each unit features a spacious 2-bedroom, 1-bath layout.
The property is located at 1527 Forest Ave in Des Moines, with access to major areas including downtown and Drake University, plus easy proximity to Interstate 235. The surrounding area is described as walkable to local dining and shopping, with nearby community amenities including the Des Moines Farmers Market and the Des Moines Art Center.
For investors, the current 100% occupancy and well-maintained unit configuration provide an opportunity to acquire a stable duplex in an established rental market.
The property is located at 1527 Forest Ave in Des Moines, with access to major areas including downtown and Drake University, plus easy proximity to Interstate 235. The surrounding area is described as walkable to local dining and shopping, with nearby community amenities including the Des Moines Farmers Market and the Des Moines Art Center.
For investors, the current 100% occupancy and well-maintained unit configuration provide an opportunity to acquire a stable duplex in an established rental market.
Key Highlights
- 2‑unit duplex built in 1924 with 2,673 SF total building area
- Each unit features a 2‑bedroom, 1‑bath layout (1350 SF per 2‑bed unit)
- 100% occupancy with both units currently occupied
Local Financial Insights For Apartment 5plus
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 | $42.0k | $15.72 |
| − Vacancy | −$1.5k | −$0.57 |
| EGI | $40.5k | $15.15 |
| − OpEx | −$18.2k | −$6.82 |
| NOI | $22.3k | $8.33 |
2,673 SF · lease $15.72/SF/yr · vacancy 3.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$356.3K
$311.7K – $415.6K
NOI $24,938 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$318.3K
$278.5K – $371.3K
NOI $22,279 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$658.3K
$576.0K – $768.0K
NOI $46,082 @ 7.0% cap · market cap 18.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - 1924-built duplex with two occupied 2-bedroom, 1-bath units totaling 2,673 SF.
Where is this duplex located?
The property is located at 1527 Forest Ave Des 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: 2‑unit duplex built in 1924 with 2,673 SF total building area; Each unit features a 2‑bedroom, 1‑bath layout (1350 SF per 2‑bed unit); 100% occupancy with both units currently occupied
