Two-Unit Duplex with Attached
For Sale
$320,000
18900 Wendover Ave, Granger, IA 50109
Two residential units offer full kitchens, private patios, and attached garage access near Saylorville Lake.
Property Size2,000 SF
Price / SF$160
Days on Market107
Property Features for 18900 Wendover Ave
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Building Details
Year Built
1998
Listing Agency:
RE/MAX Precision
Listed By:
Julie Blaker (515) 480-4547 · License #S68775000
(515) 480-4547
Source:
Desmoineshomesforsale
Added: Jul 2
Changed: Oct 1
Last Checked: Oct 14 at 11:15PM
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
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Investment Insights
Based on property information with market context.
This 2,000-square-foot duplex, built in 1998, contains two residential units with matching layouts. Each unit includes two bedrooms, one full bathroom, living and dining areas, and a full kitchen. Attached garages provide dedicated parking, while each residence also has an 8x10 concrete rear patio.
The property occupies nearly an acre with landscaping and is located near Saylorville Lake. Des Moines is approximately 15 minutes southeast, providing access to the city while retaining a setting outside the metro area. The configuration combines separate living spaces with practical outdoor and garage amenities.
The property occupies nearly an acre with landscaping and is located near Saylorville Lake. Des Moines is approximately 15 minutes southeast, providing access to the city while retaining a setting outside the metro area. The configuration combines separate living spaces with practical outdoor and garage amenities.
Key Highlights
- Two‑unit duplex with 2,000 square feet of property size
- Each unit includes 2 bedrooms, 1 full bathroom, living and dining areas, and a full kitchen
- Attached garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,064
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,280
$361.3K
Cap Rate 7%
$258,057
$258.1K
Cap Rate 9%
$200,711
$200.7K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$27.6K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$25.8K $12.90/SF
− OpEx
−$7.7K −$3.87/SF
NOI
$18.1K $9.03/SF
Area
Dallas County, IA
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,280
Cap Rate 7%
$258,057
Cap Rate 9%
$200,711
Alternative Uses
Best Use
Multifamily LT 5
$258.1K
$225.8K – $301.1K
NOI $18,064 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$239.8K
$209.8K – $279.8K
NOI $16,786 @ 7.0% cap · market cap 5.25%
Theoretical Best
Flex RnD
$1.93M
$1.68M – $2.25M
NOI $134,768 @ 7.0% cap · market cap 42.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
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Business Placement
Demographics for 50109, IA
3,348
Population
1,450
Households
2.3
Avg Household Size
37
Median Age
49%
College-Educated
98%
High-School Grad
19.4 sq mi
ZIP Area
173
Density / Sq Mi
$130,263
Median Household Income
$62,188
Median Earnings
$923
Median Rent
$337,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer full kitchens, private patios, and attached garage access near Saylorville Lake.
Where is this duplex located?
The property is located at 18900 Wendover Ave Granger, IA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,000 square feet of property size; Each unit includes 2 bedrooms, 1 full bathroom, living and dining areas, and a full kitchen; Attached garage for each unit
