Duplex with Attached
New
For Sale
$350,000
234-236 Park Place, Des Moines, IA 50312
MultiFamily, Duplex, Des Moines, IA
Property Size1,669 SF
Lot Size0.21 Acres
Price / SF$209.71
Days on Market2
Property Features for 234-236 Park Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
N5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2
Parking features
Garage
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Stove, Washer
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
Head west on I-235 W, take exit 6 for 31st St toward Terrace Hill Historic Site, turn south onto 31st St, turn east onto Grand Ave, turn south onto 28th St, turn northeast onto Forest Dr, turn southeast onto Park Pl, continue onto 27th St/Park Pl, home is on the west side.
Subdivision
Des Moines West
Standard status
Active
APN
02001864000000
Size
1,669 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
LOT 10 MOINGONA PARK
Tax Annual Amount
5402
Legal Description
LOT 10 MOINGONA PARK
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1951
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
BH&G Real Estate Innovations · Better Homes and Gardens Real Estate
(515) 962-5555
Listed By:
Misty Darling
(515) 414-0059
Added: Oct 22
Last Checked: Oct 23 at 12:06AM
MLS# 751763
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.
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Investment Insights
Based on property information with market context.
This 1,669-square-foot brick duplex, built in 1951, contains two residences, each with two bedrooms and one bathroom. The unfinished basement provides laundry, and the property has a two-car attached garage. Updates include the roof, gutters, siding, windows, and porch; the basement foundation system has a transferable lifetime warranty. The property occupies 0.213 acres and is zoned N5.
Both units are currently rented, with the option of owner occupancy noted. Shops, restaurants, and other amenities along Ingersoll Avenue are within walking distance.
Both units are currently rented, with the option of owner occupancy noted. Shops, restaurants, and other amenities along Ingersoll Avenue are within walking distance.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,669 square feet on a 0.213‑acre lot
- Two‑car attached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,571
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,420
$311.4K
Cap Rate 7%
$222,443
$222.4K
Cap Rate 9%
$173,011
$173.0K
Market Conditions
NOI Build-Up for 1,669 SF
Gross rent
$23.0K $13.80/SF
− Vacancy
−$788 −$0.47/SF
EGI
$22.2K $13.33/SF
− OpEx
−$6.7K −$4.00/SF
NOI
$15.6K $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 Rate 5%
$311,420
Cap Rate 7%
$222,443
Cap Rate 9%
$173,011
Alternative Uses
Best Use
Multifamily LT 5
$222.4K
$194.6K – $259.5K
NOI $15,571 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$198.7K
$173.9K – $231.9K
NOI $13,911 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$411.0K
$359.7K – $479.6K
NOI $28,773 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 50312, IA
15,485
Population
8,285
Households
1.9
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
5.6 sq mi
ZIP Area
2,765
Density / Sq Mi
$82,720
Median Household Income
$54,862
Median Earnings
$1,057
Median Rent
$274,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer an owner-occupancy possibility, along with basement laundry and an attached garage.
Where is this duplex located?
The property is located at 234-236 Park Place Des Moines, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,669 square feet on a 0.213‑acre lot; Two‑car attached garage
