Split-Level Duplex with
New
For Sale
$225,000
1858 E Park Avenue, Des Moines, IA 50320
MultiFamily, Des Moines, IA
Property Size952 SF
Lot Size0.17 Acres
Price / SF$236.34
Days on Market2
Property Features for 1858 E Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
N3A
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Appliances
Dishwasher, Refrigerator, Stove
Lot features
Rectangular Lot
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
E 14th St to E Park Ave in Des Moines. Head East onto E Park Ave. House will be on the left.
Subdivision
Des Moines S.East
Standard status
Active
APN
01001973106003
Size
952 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LOT 6 FOREST PARK MANOR
Tax Annual Amount
3302
Legal Description
LOT 6 FOREST PARK MANOR
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
yard
exterior storage sheds
Building Details
Year built
1977
Floors in Building
2
Number of units
2
Building materials
MetalSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Precision · RE/MAX International
(515) 223-9492
Listed By:
David Rodriguez
(515) 619-8150
Added: Sep 14
Last Checked: Sep 15 at 10:06AM
MLS# 749105
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.
Investment Insights
Based on property information with market context.
This duplex, built in 1977, contains two residential units with matching split-level floor plans. Each unit includes two bedrooms, one full bathroom, a family room, dining area, kitchen, and laundry space. One unit includes a carport, while both have separate driveways. The property also features a shaded yard and two exterior storage sheds.
Set on 0.172 acres in Des Moines’ south side, the property is near Easter Lake, shopping, and Riverwoods Elementary, which is within walking distance. Public water and public sewer serve the property. Additional features include central air, forced-air natural-gas heating, metal siding, and an asphalt shingle roof. The property is zoned N3A.
Set on 0.172 acres in Des Moines’ south side, the property is near Easter Lake, shopping, and Riverwoods Elementary, which is within walking distance. Public water and public sewer serve the property. Additional features include central air, forced-air natural-gas heating, metal siding, and an asphalt shingle roof. The property is zoned N3A.
Key Highlights
- Duplex with two units, each offering 2 bedrooms and 1 bathroom
- Split‑level layouts include family room, dining area, kitchen, and laundry
- Separate driveway for each unit; one side includes a carport
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 50320, IA
23,369
Population
9,317
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
16.8 sq mi
ZIP Area
1,391
Density / Sq Mi
$83,710
Median Household Income
$44,418
Median Earnings
$1,110
Median Rent
$207,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate driveways, flexible split-level layouts, and shared outdoor storage.
Where is this duplex located?
The property is located at 1858 E Park Avenue 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: Duplex with two units, each offering 2 bedrooms and 1 bathroom; Split‑level layouts include family room, dining area, kitchen, and laundry; Separate driveway for each unit; one side includes a carport
