Duplex with Private
For Sale
$265,000
3310 SE 5th Street, Des Moines, IA 50315
Each residence has separate utility meters and basement laundry hookups.
Property Size1,408 SF
Price / SF$188.21
Days on Market134
Property Features for 3310 SE 5th Street
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Multi Family Home
Zoning
N3A
Site & Location
Neighborhood
Watrous Heights
Additional Details
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Annual Taxes
$3,678
Building Details
Building Size
1,408 SF
Year Built
1972
Listing Agency:
Keller Williams Realty GDM
Listed By:
Roshni Ryan
(515) 334-4900
Source:
Ruderealty
Added: Jun 23
Changed: Nov 2
Last Checked: Oct 31 at 3:23AM
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 Keller Williams Realty GDM
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Investment Insights
Based on property information with market context.
This two-unit property contains two-bedroom, one-bath residences, each with its own unfinished basement and washer/dryer connections. Separate utility meters serve the units. Updates include a newer roof and windows, along with an HVAC system. The building dates to 1972 and is zoned N3A.
The property is in Des Moines, approximately 8 minutes from downtown.
The property is in Des Moines, approximately 8 minutes from downtown.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Separate utility meters for each residence
- Private unfinished basements with washer/dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,136
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,720
$262.7K
Cap Rate 7%
$187,657
$187.7K
Cap Rate 9%
$145,956
$146.0K
Market Conditions
NOI Build-Up for 1,408 SF
Gross rent
$19.4K $13.80/SF
− Vacancy
−$665 −$0.47/SF
EGI
$18.8K $13.33/SF
− OpEx
−$5.6K −$4.00/SF
NOI
$13.1K $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%
$262,720
Cap Rate 7%
$187,657
Cap Rate 9%
$145,956
Alternative Uses
Best Use
Multifamily LT 5
$187.7K
$164.2K – $218.9K
NOI $13,136 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$167.6K
$146.7K – $195.6K
NOI $11,735 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$346.8K
$303.4K – $404.6K
NOI $24,273 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
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Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has separate utility meters and basement laundry hookups.
Where is this duplex located?
The property is located at 3310 SE 5th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Separate utility meters for each residence; Private unfinished basements with washer/dryer hookups
