Three-Unit Up/Down
3103 1st Street Des Moines, IA 50313
3103 1st Street, Des Moines, IA, 50313
$150,000
Pending
For Sale
$150,000
Pending
MULTI_FAMILY - Other - Des Moines, IA
Property Size1,343 SF
Lot Size0.14 Acres
Days on Market61
Property Features for 3103 1st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Resid
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Basement, Bathroom 3, Bathroom 1, Bedroom 1
- Standard status
- Pending
- 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
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
- Asphalt, Shingle
- Architectural style
- Other
Listing Agency
Iowa Realty Beaverdale
(515) 453-5900
3521 Beaver Ave, West Des Moines, IA
Listed by
STEVEN CAMERONA
(515) 978-1289
Added: May 18 Checked: Jul 17 at 3:06 pm
MLS# 741055
Listing URL
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 income-producing up/down triplex includes three units in a single residential building. The total layout provides four bedrooms and three bathrooms across the property, making it well suited for an owner seeking rental income.
The property is located in Des Moines, Iowa near schools, parks, and everyday amenities, based on the listing remarks.
With a lot size of 0.139 acres and approximately 1,343 square feet reported building size, this multifamily residential income property is offered for sale.
The property is located in Des Moines, Iowa near schools, parks, and everyday amenities, based on the listing remarks.
With a lot size of 0.139 acres and approximately 1,343 square feet reported building size, this multifamily residential income property is offered for sale.
Key Highlights
- Income‑producing up/down triplex with 3 units
- 4 total bedrooms and 3 total bathrooms across the units
- Built in 1911 with wood siding exterior
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.5k | $13.80 |
| − Vacancy | −$634 | −$0.47 |
| EGI | $17.9k | $13.33 |
| − OpEx | −$5.4k | −$4.00 |
| NOI | $12.5k | $9.33 |
1,343 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Income-producing up/down triplex with three units, 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: Income‑producing up/down triplex with 3 units; 4 total bedrooms and 3 total bathrooms across the units; Built in 1911 with wood siding exterior
