2404 57th Street, Des Moines, IA 50310
MULTI_FAMILY - Other - Des Moines, IA
- Added:
- May 12, 2026
- Days on Market:
- 47
- Last Refresh:
- Jun 27 at 4:06 pm
Property Features for 2404 57th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- RES
- Parking features
- Garage
- Standard status
- Pending
- APN
- 10010040000000
- Size
- 2,352 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Description
- S 67 1/2 F N 135 F LTS 23 & 24 & S 82.5 F -EX S 15 F E 39.4 F- LT 22 NEIMAN PLACE
- Tax Annual Amount
- 5192
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1948
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Mike O'Neill (515) 537-9303
Listing office Realty ONE Group Impact 140 S 68th St., Ste. 1105, West Des Moines, IA (515) 446-7524
Listing date May 12, 2026
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 in Des Moines just east of Merle Hay Rd and off Hickman
- Completely updated inside and out, including a new roof in 2021
- Kitchen and new bathroom fixtures (sink, toilet, shower) updated in 2023
- HVAC duct work completed in 2023, plus updated wiring and breaker box in 2023
- Public water and public sewer
- Owner occupies one side; other unit has a tenant paying $1,250/month and rental certificate updated in February 2026
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.5k | $13.80 |
| − Vacancy | −$1.1k | −$0.47 |
| EGI | $31.3k | $13.33 |
| − OpEx | −$9.4k | −$4.00 |
| NOI | $21.9k | $9.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.696423
- Latitude
- 41.616067
