Brick Duplex with Off-Street
3920-3922 E 38th St, Des Moines, IA 50317
For Sale
$240,000
Tenant-occupied duplex with two separate living spaces, private kitchens, and access to city utilities.
Property Size1,536 SF
Price / SF$156.25
Days on Market49
Property Features for 3920-3922 E 38th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Real Broker, LLC
(515) 443-3800
Listed By:
Home Sweet Des Moines
(515) 783-9815
Source:
Homesweetdesmoines
Added: Sep 19
Changed: Nov 5
Last Checked: Nov 6 at 8:32AM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This tenant-occupied duplex at 3920-3922 E 38th St comprises two residential units within a ranch-style property. The 1,536-square-foot building was constructed in 1973 and provides each unit with its own kitchen and living area. A brick exterior, central air, gas forced-air heat, and city water and sewer serve the property.
The site encompasses 0.55 acres and includes off-street parking. Its position just off Hubbell Ave provides access to nearby shopping, dining, employment, and other Des Moines amenities. The property is located in Des Moines, Iowa, and is offered as a two-unit residential income asset.
The site encompasses 0.55 acres and includes off-street parking. Its position just off Hubbell Ave provides access to nearby shopping, dining, employment, and other Des Moines amenities. The property is located in Des Moines, Iowa, and is offered as a two-unit residential income asset.
Key Highlights
- Two‑unit duplex with 1,536 SF of building area
- Tenant‑occupied property
- 0.55‑acre lot with off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,330
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,600
$286.6K
Cap Rate 7%
$204,714
$204.7K
Cap Rate 9%
$159,222
$159.2K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$21.2K $13.80/SF
− Vacancy
−$725 −$0.47/SF
EGI
$20.5K $13.33/SF
− OpEx
−$6.1K −$4.00/SF
NOI
$14.3K $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%
$286,600
Cap Rate 7%
$204,714
Cap Rate 9%
$159,222
Alternative Uses
Best Use
Multifamily LT 5
$204.7K
$179.1K – $238.8K
NOI $14,330 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$182.9K
$160.0K – $213.4K
NOI $12,802 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$378.3K
$331.0K – $441.3K
NOI $26,480 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 50317, IA
37,221
Population
15,193
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
87%
High-School Grad
22.1 sq mi
ZIP Area
1,684
Density / Sq Mi
$61,569
Median Household Income
$36,641
Median Earnings
$1,079
Median Rent
$165,200
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Des Moines, IA
Properties on Market for Duplexes in Des Moines
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with two separate living spaces, private kitchens, and access to city utilities.
Where is this duplex located?
The property is located at 3920-3922 E 38th St Des Moines, IA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 SF of building area; Tenant‑occupied property; 0.55‑acre lot with off‑street parking
