Duplex with Unfinished
New
For Sale
$284,900
2825 54th St, Des Moines, IA 50310
Both residences include two bedrooms, a full bath, and a private paved driveway.
Property Size1,493 SF
Price / SF$190.82
Days on Market6
Property Features for 2825 54th St
General Information
Standard status
Active
Size
1,493 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1967
Construction
ranch-style
Listing Agency:
Keller Williams Realty GDM
Listed By:
Beth Ernst
(515) 669-1509
Source:
Centraliowahomesearch
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 12 at 7:48PM
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 Keller Williams Realty GDM
Investment Insights
Based on property information with market context.
Built in 1967, this ranch-style duplex contains two residences, each with two bedrooms, one full bathroom, and an unfinished basement. Each unit also has its own paved driveway, and the property includes a backyard.
Merle Hay shopping and dining options and I-80 are a short drive away. The basement areas provide additional storage space in their current unfinished condition.
Merle Hay shopping and dining options and I-80 are a short drive away. The basement areas provide additional storage space in their current unfinished condition.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- Unfinished basement in each residence
- Separate paved driveway for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,929
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,580
$278.6K
Cap Rate 7%
$198,986
$199.0K
Cap Rate 9%
$154,767
$154.8K
Market Conditions
NOI Build-Up for 1,493 SF
Gross rent
$20.6K $13.80/SF
− Vacancy
−$705 −$0.47/SF
EGI
$19.9K $13.33/SF
− OpEx
−$6.0K −$4.00/SF
NOI
$13.9K $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 Rate 5%
$278,580
Cap Rate 7%
$198,986
Cap Rate 9%
$154,767
Alternative Uses
Best Use
Multifamily LT 5
$199.0K
$174.1K – $232.2K
NOI $13,929 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$177.8K
$155.6K – $207.4K
NOI $12,444 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$367.7K
$321.7K – $429.0K
NOI $25,739 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include two bedrooms, a full bath, and a private paved driveway.
Where is this duplex located?
The property is located at 2825 54th St Des Moines, IA.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; Unfinished basement in each residence; Separate paved driveway for each unit
