Two-Unit Duplex with
For Sale
$225,000
Pending
1858 E Park Ave, Des Moines, IA 50315
Split-level units provide separate driveways, flexible living areas, and shared outdoor storage.
Property Size952 SF
Days on Market14
Property Features for 1858 E Park Ave
General Information
Standard status
Pending
Size
952 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,302
Amenities
laundry
yard
storage sheds
Building Details
Buildings
1
Listing Agency:
RE/MAX Precision
(515) 223-9492
Listed By:
David Rodriguez
(515) 619-8150
Source:
Exprealty
Added: Sep 14
Changed: Sep 21
Last Checked: Sep 26 at 8:42AM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each with two bedrooms and one full bathroom. Both units use a split-level arrangement, with the family room, dining space, kitchen, and laundry positioned on the lower level and the bedrooms and bath above. Each residence has a dedicated driveway, while one unit includes a carport for covered parking. The property also includes a shaded yard and two outdoor storage sheds.
The home is located on Des Moines’ south side near Easter Lake, shopping, and Riverwoods Elementary, which is within walking distance. The two-unit configuration and individual driveways provide a practical setup for residential income use or owner occupancy.
The home is located on Des Moines’ south side near Easter Lake, shopping, and Riverwoods Elementary, which is within walking distance. The two-unit configuration and individual driveways provide a practical setup for residential income use or owner occupancy.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- Split‑level floor plans with lower‑level living areas and upper‑level bedrooms
- Separate driveway serving each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$177,640
$177.6K
Cap Rate 7%
$126,886
$126.9K
Cap Rate 9%
$98,689
$98.7K
Market Conditions
NOI Build-Up for 952 SF
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.
Gross rent
$13.1K $13.80/SF
− Vacancy
−$449 −$0.47/SF
EGI
$12.7K $13.33/SF
− OpEx
−$3.8K −$4.00/SF
NOI
$8.9K $9.33/SF
Area
Des Moines, IA
Vacancy
3.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$177,640
Cap Rate 7%
$126,886
Cap Rate 9%
$98,689
Alternative Uses
Best Use
Multifamily LT 5
$126.9K
$111.0K – $148.0K
NOI $8,882 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$113.4K
$99.2K – $132.3K
NOI $7,935 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$234.5K
$205.2K – $273.5K
NOI $16,412 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Split-level units provide separate driveways, flexible living areas, and shared outdoor storage.
Where is this duplex located?
The property is located at 1858 E Park Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; Split‑level floor plans with lower‑level living areas and upper‑level bedrooms; Separate driveway serving each unit
