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    Des Moines Duplex Opportunity Title is generated by Realmo AI

    1829 47th Street, Des Moines, IA 50310

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    For Sale
    $235,000

    MULTI_FAMILY - Ranch - Des Moines, IA

    Type:Duplex
    Property size:
    2,136 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $110/SF
    Added:
    Apr 8, 2026
    Days on Market:
    41
    Last Refresh:
    May 18 at 5:06 am

    Property Features for 1829 47th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    N3B
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 2, Basement
    Parking features
    Garage
    Appliances
    Cooktop, Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
    Standard status
    Active
    APN
    10011717000000
    Size
    2,136 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    LOT 18 TURNER PLACE PLAT NO 2
    Tax Annual Amount
    4901

    Utilities

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

    Building Details

    Year built
    1924
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Kyle Clarkson
    Kyle Clarkson

    Listing agent Kyle Clarkson

    Listing office LPT Realty, LLC 2425 N Ankeny Blvd Ste. 101, Clive, IA

    Listing date Apr 8, 2026

    MLS# 737984 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

    • Duplex offers immediate rental income potential or equity‑building opportunity.
    • One unit features 3 bedrooms and 1.75 bathrooms, including a basement bedroom and bathroom.
    • Both units have 2 bedrooms and 1 full bathroom on the upper level.
    • Includes essential appliances: cooktop, dryer, dishwasher, microwave, refrigerator, stove, and washer.
    • Features central air conditioning and natural gas forced air heating.
    • Convenient Des Moines location with access to local amenities.

    Overview

    This Des Moines duplex presents an opportunity for investors or buyers seeking to build equity. Each side of the duplex features a functional layout. One unit includes 2 bedrooms and 1 full bathroom on the upper level. The second unit offers 2 bedrooms and 1 full bathroom upstairs, plus an additional bedroom and a 3/4 bathroom in the basement, providing extra space and flexibility. The property is located in Des Moines with access to local amenities. Situated on a 0.18-acre lot, the property is zoned N3B. The building has a size of 2136 square feet. This home offers potential for renovation, rental income, or a value-add project.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $221.4K
    NOI $19,928 @ 9.00% cap · cautious / downside scenario
    Moderate
    $284.7K
    NOI $19,928 @ 7.00% cap · market / base-case scenario
    Aggressive
    $398.6K
    NOI $19,928 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $29.5k $13.80
    − Vacancy −$1.0k −$0.47
    EGI $28.5k $13.33
    − OpEx −$8.5k −$4.00
    NOI $19.9k $9.33
    2,136 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $284.7K
    $249.1K – $332.1K (±1% cap)
    NOI $19,928 @ 7.0% cap · market cap 8.48%
    Second Best
    Apartment 5plus
    $254.3K
    $222.5K – $296.7K (±1% cap)
    NOI $17,803 @ 7.0% cap · market cap 7.58%
    Theoretical Best
    Office A
    $526.1K
    $460.3K – $613.7K (±1% cap)
    NOI $36,824 @ 7.0% cap · market cap 15.67%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report 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 Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.68112
    Latitude
    41.611095

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    FAQs

    What type of property is this?
    Duplex - Des Moines duplex ideal for investors or value-add project.
    Where is this duplex located?
    The property is located at 1829 47th Street Des Moines, IA.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Duplex offers immediate rental income potential or equity‑building opportunity.; One unit features **3 bedrooms and 1.75 bathrooms**, including a **basement bedroom and bathroom**.; Both units have 2 bedrooms and 1 full bathroom on the upper level.
    (515) 554-2249
    We can help!
    Listing Contact
    Kyle Clarkson
    Kyle Clarkson
    Learn More
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    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.

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