Updated Two-Unit
For Sale
$275,000
2940 Brattleboro Ave, Des Moines, IA 50311
Two three-bedroom units offer assigned parking, in-unit laundry, and refreshed interior finishes.
Property Size2,142 SF
Price / SF$128.38
Days on Market24
Property Features for 2940 Brattleboro Ave
General Information
Standard status
Active
Size
2,142 SF
Property subtype
Multi-Family
Building Details
Year Built
1895
Listing Agency:
Realty One Group Impact
(515) 230-0488
Listed By:
The Kew Real Estate Team · License #1999023818
(515) 230-0488
Source:
Realtorchriskew
Added: Aug 9
Changed: Aug 31
Last Checked: Aug 31 at 2:39PM
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 Realty One Group Impact
Investment Insights
Based on property information with market context.
This 2,142-square-foot duplex, built in 1895, contains two three-bedroom residences. Both units feature updated flooring, cabinetry, appliances, and in-unit laundry. One apartment includes a generously proportioned kitchen, while the other offers an expansive living room. Five private assigned parking spaces serve the property, and the rental certificate has been updated.
Located in Des Moines’ Drake neighborhood, the property supports either short-term or long-term rental use, as well as owner occupancy, according to the stated property details.
Located in Des Moines’ Drake neighborhood, the property supports either short-term or long-term rental use, as well as owner occupancy, according to the stated property details.
Key Highlights
- Two‑unit duplex with 2,142 SF of building area
- Both residences are three‑bedroom units
- Updated flooring, cabinetry, and appliances in each unit
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
$19,984
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
7.27%
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%
$399,680
$399.7K
Cap Rate 7%
$285,486
$285.5K
Cap Rate 9%
$222,044
$222.0K
Market Conditions
NOI Build-Up for 2,142 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
$29.6K $13.80/SF
− Vacancy
−$1.0K −$0.47/SF
EGI
$28.5K $13.33/SF
− OpEx
−$8.6K −$4.00/SF
NOI
$20.0K $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%
$399,680
Cap Rate 7%
$285,486
Cap Rate 9%
$222,044
Alternative Uses
Best Use
Multifamily LT 5
$285.5K
$249.8K – $333.1K
NOI $19,984 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$255.0K
$223.2K – $297.6K
NOI $17,853 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$527.5K
$461.6K – $615.5K
NOI $36,927 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 50311, IA
14,782
Population
7,180
Households
2.1
Avg Household Size
30
Median Age
41%
College-Educated
94%
High-School Grad
2.6 sq mi
ZIP Area
5,685
Density / Sq Mi
$63,233
Median Household Income
$35,086
Median Earnings
$1,019
Median Rent
$228,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer assigned parking, in-unit laundry, and refreshed interior finishes.
Where is this duplex located?
The property is located at 2940 Brattleboro Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,142 SF of building area; Both residences are three‑bedroom units; Updated flooring, cabinetry, and appliances in each unit
