Two-Bedroom Duplex with
For Sale
$279,900
309 Tyler St, Polk City, IA 50226
Two-unit residential income property with separate garages and tenant-paid utilities, water, and trash service.
Property Size964 SF
Price / SF$290.35
Days on Market48
Property Features for 309 Tyler St
General Information
Standard status
Active
Size
964 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1975
Tenancy
Multi
Listing Agency:
Century 21 Signature
(515) 988-3296
Listed By:
Home Sweet Des Moines
(515) 783-9815
Source:
Homesweetdesmoines
Added: Sep 6
Changed: Oct 21
Last Checked: Oct 20 at 8:17PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex includes two units at 309 and 311 Tyler St, with each residence offering 2 bedrooms and an individual garage. The property was built in 1975 and has a reported property size of 964.
Tenants are responsible for utilities, water, and trash, supporting a straightforward operating structure. The property is located in Polk City, Iowa, and is described as having no current vacancies.
Tenants are responsible for utilities, water, and trash, supporting a straightforward operating structure. The property is located in Polk City, Iowa, and is described as having no current vacancies.
Key Highlights
- Two‑unit duplex at 309 and 311 Tyler St
- Each unit includes 2 bedrooms and an individual garage
- Tenants pay utilities, water, and trash
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,552
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,040
$171.0K
Cap Rate 7%
$122,171
$122.2K
Cap Rate 9%
$95,022
$95.0K
Market Conditions
NOI Build-Up for 964 SF
Gross rent
$13.0K $13.44/SF
− Vacancy
−$739 −$0.77/SF
EGI
$12.2K $12.67/SF
− OpEx
−$3.7K −$3.80/SF
NOI
$8.6K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,040
Cap Rate 7%
$122,171
Cap Rate 9%
$95,022
Alternative Uses
Best Use
Multifamily LT 5
$122.2K
$106.9K – $142.5K
NOI $8,552 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$106.8K
$93.5K – $124.6K
NOI $7,476 @ 7.0% cap · market cap 2.67%
Theoretical Best
Flex RnD
$928.0K
$812.0K – $1.08M
NOI $64,958 @ 7.0% cap · market cap 23.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 50226, IA
6,879
Population
2,517
Households
2.7
Avg Household Size
36
Median Age
48%
College-Educated
98%
High-School Grad
36.4 sq mi
ZIP Area
189
Density / Sq Mi
$161,627
Median Household Income
$76,033
Median Earnings
$746
Median Rent
$390,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with separate garages and tenant-paid utilities, water, and trash service.
Where is this duplex located?
The property is located at 309 Tyler St Polk City, IA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑unit duplex at 309 and 311 Tyler St; Each unit includes 2 bedrooms and an individual garage; Tenants pay utilities, water, and trash
