Up-and-Down
For Sale
$150,000
3103 1st Street, Des Moines, IA 50313
MultiFamily, Des Moines, IA
Property Size1,343 SF
Lot Size0.14 Acres
Price / SF$111.69
Days on Market149
Property Features for 3103 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Basement, Bedroom 1, Bathroom 3, Bedroom 3
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
Take Hull Ave to 1st St, then north to property
Subdivision
Des Moines N.East
Standard status
Active
APN
07000636000000
Size
1,343 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
-EX BEG SW COR THN E 81.5F N10.2F W26.1F SWLY TO POB- LOT 21 BLK 27 AUBURN HEIGHTS PLAT 1
Tax Annual Amount
3517
Legal Description
-EX BEG SW COR THN E 81.5F N10.2F W26.1F SWLY TO POB- LOT 21 BLK 27 AUBURN HEIGHTS PLAT 1
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Number of units
3
Building materials
WoodSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Iowa Realty Beaverdale
(515) 453-5900
Listed By:
STEVEN CAMERONA
(515) 978-1289
Added: May 18
Changed: Oct 7
Last Checked: Oct 13 at 9:06PM
MLS# 741055
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 up-and-down triplex contains three units, with four bedrooms and three bathrooms in total. The building measures 1,343 square feet and sits on a 0.139-acre lot. Built in 1911, it has wood siding, a shingle and asphalt roof, forced-air natural gas heat, and central air conditioning. Public water serves the property.
Located at 3103 1st Street in Des Moines, the property is zoned Resid.
Located at 3103 1st Street in Des Moines, the property is zoned Resid.
Key Highlights
- Three‑unit up‑and‑down configuration
- 1,343 square feet on a 0.139‑acre lot
- Four total bedrooms and three bathrooms
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.
How Realmo checks its estimates
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three units offer four bedrooms and three bathrooms across the building.
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; 1,343 square feet on a 0.139‑acre lot; Four total bedrooms and three bathrooms
