Up-and-Down
For Sale
$150,000
3103 1st Street, Des Moines, IA 50313
Three separate residences provide a combined four bedrooms and three bathrooms.
Property Size1,343 SF
Price / SF$111.69
Days on Market166
Property Features for 3103 1st Street
General Information
Standard status
Active
Size
1,343 SF
Property subtype
Multi Family Home
Zoning
Resid
Site & Location
Neighborhood
Highland Park
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,517
Building Details
Building Size
1,343 SF
Year Built
1911
Stories
2
Units
3
Listing Agency:
Iowa Realty Beaverdale
Listed By:
Steven Camerona
(515) 453-5900
Source:
Goodallproperties
Added: May 18
Changed: Oct 29
Last Checked: Oct 29 at 2:44PM
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 Iowa Realty Beaverdale
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Investment Insights
Based on property information with market context.
This residential triplex contains three units in an up-and-down arrangement, with a total of 4 bedrooms and 3 bathrooms. The property measures 1,343 square feet and was built in 1911, with residential zoning.
Schools, parks, and everyday amenities are located nearby.
Schools, parks, and everyday amenities are located nearby.
Key Highlights
- Three‑unit up‑and‑down configuration
- 4 bedrooms and 3 bathrooms total
- 1,343 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,530
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,600
$250.6K
Cap Rate 7%
$179,000
$179.0K
Cap Rate 9%
$139,222
$139.2K
Market Conditions
NOI Build-Up for 1,343 SF
Gross rent
$18.5K $13.80/SF
− Vacancy
−$634 −$0.47/SF
EGI
$17.9K $13.33/SF
− OpEx
−$5.4K −$4.00/SF
NOI
$12.5K $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%
$250,600
Cap Rate 7%
$179,000
Cap Rate 9%
$139,222
Alternative Uses
Best Use
Multifamily LT 5
$179.0K
$156.6K – $208.8K
NOI $12,530 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$159.9K
$139.9K – $186.6K
NOI $11,194 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$330.8K
$289.4K – $385.9K
NOI $23,153 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences provide a combined four bedrooms and three bathrooms.
Where is this triplex located?
The property is located at 3103 1st Street Des Moines, IA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Three‑unit up‑and‑down configuration; 4 bedrooms and 3 bathrooms total; 1,343 square feet
