Duplex with Detached
3932 39th Street, Des Moines, IA 50310
For Sale
New
$299,900
MultiFamily, Des Moines, IA
Property Size1,920 SF
Lot Size0.45 Acres
Price / SF$156.20
Days on Market1
Property Features for 3932 39th Street
General Information
Property type
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Zoning
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
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Parking features
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Lot features
Elementary school district
Middle school district
High school district
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Size
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Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
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Building Details
Year built
Floors in Building
Number of units
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Buildings
Listing Agency:
Iowa Realty Beaverdale
(515) 453-5900
Listed By:
JAMIE SMITH
(515) 453-6330
Added: Nov 9
Last Checked: Nov 9 at 9:06PM
MLS# 752691
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.
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Investment Insights
Based on property information with market context.
This two-story duplex contains 1,920 square feet, arranged as two units with two bedrooms and 1.5 bathrooms apiece. Each side has a full basement. A detached, oversized two-car garage provides additional vehicle storage. The property was built in 1972 and has N3A zoning.
Set on a 0.454-acre lot in Des Moines, the duplex is north of the VA Hospital. Public water and sewer serve the property. Both units include central air conditioning and forced-air natural gas heat.
Set on a 0.454-acre lot in Des Moines, the duplex is north of the VA Hospital. Public water and sewer serve the property. Both units include central air conditioning and forced-air natural gas heat.
Key Highlights
- Two units, each with 2 bedrooms and 1.5 bathrooms
- 1,920 square feet in a two‑story duplex
- 0.454‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,913
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,260
$358.3K
Cap Rate 7%
$255,900
$255.9K
Cap Rate 9%
$199,033
$199.0K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$26.5K $13.80/SF
− Vacancy
−$906 −$0.47/SF
EGI
$25.6K $13.33/SF
− OpEx
−$7.7K −$4.00/SF
NOI
$17.9K $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%
$358,260
Cap Rate 7%
$255,900
Cap Rate 9%
$199,033
Alternative Uses
Best Use
Multifamily LT 5
$255.9K
$223.9K – $298.6K
NOI $17,913 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$228.6K
$200.0K – $266.7K
NOI $16,003 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$472.9K
$413.8K – $551.7K
NOI $33,100 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
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Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
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Market
Average Price Trend$/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 - Two-story rental property with matching two-bedroom units, full basements, and a detached garage.
Where is this duplex located?
The property is located at 3932 39th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1.5 bathrooms; 1,920 square feet in a two‑story duplex; 0.454‑acre lot
