Updated Two-Unit
New
For Sale
$275,000
2940 Brattleboro Avenue, Des Moines, IA 50311
MULTI_FAMILY - Other - Des Moines, IA
Property Size2,142 SF
Lot Size0.15 Acres
Price / SF$128.38
Days on Market2
Property Features for 2940 Brattleboro Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Basement, Bedroom 5, Dining Room, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 1
Interior features
DiningArea, EatInKitchen, SecondKitchen, CableTv, WindowTreatments
Fireplace
1
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Washer
Lot features
Rectangular Lot
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
From 31st, head east on Brattleboro. Home is on south side of street.
Subdivision
Des Moines West
Standard status
Active
APN
09003676000000
Size
2,142 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
W 1/2 LOT 73 & E 1/2 LOT 74 KINGMAN PLACE
Tax Annual Amount
4038
Legal Description
W 1/2 LOT 73 & E 1/2 LOT 74 KINGMAN PLACE
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1895
Flooring type
Laminate
Building materials
MetalSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Realty ONE Group Impact
(515) 446-7524
Listed By:
Adam Steger
(515) 564-9852
Added: Aug 7
Last Checked: Aug 8 at 12:06PM
MLS# 746894
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.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,142 square feet and was built in 1895. Both residences include updated flooring, cabinetry, appliances, and in-unit laundry, with forced-air natural gas heat and central air conditioning. Interior features include dining areas, an eat-in kitchen, a second kitchen, laminate flooring, window treatments, and a fireplace. Public water and sewer serve the property, which has metal siding and an asphalt shingle roof.
The property includes five privately assigned parking spaces and an updated rental certificate. Each unit is configured as a three-bedroom residence, with one offering a spacious kitchen area and the other featuring a large living room. The duplex is located in the Drake neighborhood of Des Moines and is zoned R.
The property includes five privately assigned parking spaces and an updated rental certificate. Each unit is configured as a three-bedroom residence, with one offering a spacious kitchen area and the other featuring a large living room. The duplex is located in the Drake neighborhood of Des Moines and is zoned R.
Key Highlights
- 2‑unit duplex with 2,142 square feet
- Each unit is configured with 3 bedrooms
- Five privately assigned parking spaces
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
Lease Details
2
Residential units
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 residential units feature assigned parking, in-unit laundry, and refreshed flooring, cabinetry, and appliances.
Where is this duplex located?
The property is located at 2940 Brattleboro Avenue 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: 2‑unit duplex with 2,142 square feet; Each unit is configured with 3 bedrooms; Five privately assigned parking spaces
