Brick Duplex with Tuck-Under
For Sale
$215,000
2806 Aurora Ave, Des Moines, IA 50310
Two separately metered units include individual climate, water-heating, and laundry equipment.
Property Size1,569 SF
Price / SF$137.03
Days on Market78
Property Features for 2806 Aurora Ave
General Information
Standard status
Active
Size
1,569 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
front and rear vestibules
fully fenced backyard
metal spiral staircase
Building Details
Year Built
1959
Buildings
1
Construction
brick
Listing Agency:
RE/MAX Precision
(515) 223-9492
Listed By:
Lauryn Peitzman
Source:
Desmoineshomesforsale
Added: Jun 14
Changed: Aug 30
Last Checked: Aug 30 at 2:45AM
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 brick duplex, built in 1959, contains two separately metered residences with distinct mechanical and laundry equipment. One unit provides 2 bedrooms and 1 bathroom; the other has 2 bedrooms, 2 bathrooms, and a non-conforming flex room. A metal spiral staircase connects to lower-level space, while front and rear vestibules add functional transition areas.
The property also includes a two-car tuck-under garage and a fully fenced backyard. Both residences are vacant, and the sale is subject to an as-is condition. Set in Des Moines’ Lower Beaver neighborhood, the duplex is near shopping, dining, parks, and schools.
The property also includes a two-car tuck-under garage and a fully fenced backyard. Both residences are vacant, and the sale is subject to an as-is condition. Set in Des Moines’ Lower Beaver neighborhood, the duplex is near shopping, dining, parks, and schools.
Key Highlights
- Two‑unit brick duplex built in 1959
- Unit mix includes 2 bedrooms and 1 bathroom, plus 2 bedrooms and 2 bathrooms
- Both units are separately metered and have their own furnace, central air conditioning unit, hot water heater, and laundry machines
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
$14,638
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
6.81%
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%
$292,760
$292.8K
Cap Rate 7%
$209,114
$209.1K
Cap Rate 9%
$162,644
$162.6K
Market Conditions
NOI Build-Up for 1,569 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
$21.7K $13.80/SF
− Vacancy
−$741 −$0.47/SF
EGI
$20.9K $13.33/SF
− OpEx
−$6.3K −$4.00/SF
NOI
$14.6K $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 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%
$292,760
Cap Rate 7%
$209,114
Cap Rate 9%
$162,644
Alternative Uses
Best Use
Multifamily LT 5
$209.1K
$183.0K – $244.0K
NOI $14,638 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$186.8K
$163.5K – $218.0K
NOI $13,077 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$386.4K
$338.1K – $450.8K
NOI $27,049 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
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 separately metered units include individual climate, water-heating, and laundry equipment.
Where is this duplex located?
The property is located at 2806 Aurora Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit brick duplex built in 1959; Unit mix includes 2 bedrooms and 1 bathroom, plus 2 bedrooms and 2 bathrooms; Both units are separately metered and have their own furnace, central air conditioning unit, hot water heater, and laundry machines
