3509/3511 Keyes Drive, Des Moines, IA 50315
MULTI_FAMILY - Des Moines, IA
- Added:
- Apr 16, 2026
- Days on Market:
- 84
- Last Refresh:
- Jul 8 at 10:06 pm
Property Features for 3509/3511 Keyes Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R
- Exterior features
- Brick
- Basement
- Partial
- Standard status
- Active
- APN
- 010/05876-001-000
- Size
- 1,600 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Description
- LOT 323 & W 20F LOT 333 WATROUS PARK PLAT 2
- Tax Annual Amount
- 5585
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Tile, Laminate
Listing agent Van Winkle Real Estate Team (515) 276-2872
Listing office RE/MAX Concepts-Ames 2704 Stange Rd, Ankeny, IA (515) 276-2872
Listing date Apr 16, 2026
Copyright © 2026 Central Iowa Board 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.
HighLights
- Duplex opportunity at 3509 & 3511 in Des Moines
- Separate units provide multiple income streams and rental flexibility
- Brick exterior
- Heating: forced air
- Flooring includes tile and laminate
- Year built: 1960
Overview
The duplex is located in Des Moines, Iowa 50315 (Polk County). A lockbox is available for access with code 4465.
For buyers looking for a value-add residential income strategy, the separate-unit configuration can support independent leasing and operational flexibility while allowing room for updates and improvements to align the property with current market standards. If you’re evaluating a duplex for repositioning, renovation, or portfolio expansion, this property’s two-unit layout is a practical starting point.
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 | $22.1k | $13.80 |
| − Vacancy | −$755 | −$0.47 |
| EGI | $21.3k | $13.33 |
| − OpEx | −$6.4k | −$4.00 |
| NOI | $14.9k | $9.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.626466
- Latitude
- 41.552482
