Tenant-Occupied
New
For Sale
$225,000
2911 5th Ave, Des Moines, IA 50313
Separate entrances serve both apartments, and the upper unit has a covered deck.
Property Size1,562 SF
Price / SF$144.05
Days on Market3
Property Features for 2911 5th Ave
General Information
Standard status
Active
Size
1,562 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Highland Park
Building Details
Year Built
1890
Listing Agency:
Century 21 Signature
(515) 988-3296
Listed By:
Home Sweet Des Moines
(515) 783-9815
Source:
Homesweetdesmoines
Added: Nov 1
Last Checked: Nov 1 at 3:44PM
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 Century 21 Signature
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Investment Insights
Based on property information with market context.
This 1,562-square-foot duplex in Des Moines was built in 1890 and is tenant occupied. Each apartment has its own entrance. The upper unit also features a private staircase and French doors leading to a covered deck. Laminate and vinyl flooring, ceiling fans, and kitchens with ample cabinetry are present in both units.
The building has an updated foundation, electrical system, and plumbing, along with a newer roof. The basement is unfinished; a former apartment there was gutted following a plumbing leak about 10 years ago. A deep backyard provides outdoor space.
The building has an updated foundation, electrical system, and plumbing, along with a newer roof. The basement is unfinished; a former apartment there was gutted following a plumbing leak about 10 years ago. A deep backyard provides outdoor space.
Key Highlights
- Two‑unit duplex with tenants in place
- 1,562 square feet; built in 1890
- Separate entrance for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,573
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,460
$291.5K
Cap Rate 7%
$208,186
$208.2K
Cap Rate 9%
$161,922
$161.9K
Market Conditions
NOI Build-Up for 1,562 SF
Gross rent
$21.6K $13.80/SF
− Vacancy
−$737 −$0.47/SF
EGI
$20.8K $13.33/SF
− OpEx
−$6.2K −$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 Rate 5%
$291,460
Cap Rate 7%
$208,186
Cap Rate 9%
$161,922
Alternative Uses
Best Use
Multifamily LT 5
$208.2K
$182.2K – $242.9K
NOI $14,573 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$186.0K
$162.7K – $217.0K
NOI $13,019 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$384.7K
$336.6K – $448.8K
NOI $26,928 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
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Business Placement
Demographics for 50313, IA
17,723
Population
7,674
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
86%
High-School Grad
18.1 sq mi
ZIP Area
979
Density / Sq Mi
$64,077
Median Household Income
$36,284
Median Earnings
$1,077
Median Rent
$161,800
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 - Separate entrances serve both apartments, and the upper unit has a covered deck.
Where is this duplex located?
The property is located at 2911 5th Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with tenants in place; 1,562 square feet; built in 1890; Separate entrance for each unit
