Duplex with Attached
For Sale
$255,000
4131 55th Street Des, Des Moines, IA 50310
Two distinct units include different layouts, attached parking, and current occupancy with management already in place.
Property Size2,643 SF
Days on Market196
Property Features for 4131 55th Street Des
General Information
Standard status
Active
Size
2,643 SF
Total Parking Spaces
2
Property subtype
MultiFamily Apartments
Occupancy
100%
Net Operating Income
$20,828
Financials
Asking Price
$255,000
Cap Rate
8.17%
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Building Size
2,643 SF
Year Built
1947
Listing Agency:
Better Commercial - Remax Concepts
Listed By:
Chase Keller · License #S63136000
(319) 231-1160
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 11:17PM
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 Better Commercial - Remax Concepts
Investment Insights
Based on property information with market context.
Built in 1947, this duplex provides two separate rental units with a complementary bedroom and bath mix. Unit A contains 2 bedrooms and 1 bathroom, while Unit B offers 4 bedrooms, 2 bathrooms, and a 2-car attached garage. The property is fully occupied, and management is already established for the next owner. Tenants handle all utilities as well as lawn care and snow removal. Recent roof work adds a significant physical improvement to the property.
The property is located at 4131 55th Street in Des Moines, less than 3 miles from the interstates and approximately a 10-minute drive from Downtown. Merle Hay Mall, Starbucks, Target, and Chick-fil-A are all within a few blocks, providing nearby shopping, dining, and daily-service options. The offering reports an 8.17% cap rate and an 8.9% CoC return.
The property is located at 4131 55th Street in Des Moines, less than 3 miles from the interstates and approximately a 10-minute drive from Downtown. Merle Hay Mall, Starbucks, Target, and Chick-fil-A are all within a few blocks, providing nearby shopping, dining, and daily-service options. The offering reports an 8.17% cap rate and an 8.9% CoC return.
Key Highlights
- Two‑unit duplex with 2 Bed/1 Bath and 4 Bed/2 Bath layouts
- Unit B includes a 2 car attached garage
- Fully occupied with property management already in place
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,029
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$440,580
$440.6K
Cap Rate 7%
$314,700
$314.7K
Cap Rate 9%
$244,767
$244.8K
Market Conditions
NOI Build-Up for 2,643 SF
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.
Gross rent
$41.5K $15.72/SF
− Vacancy
−$1.5K −$0.57/SF
EGI
$40.1K $15.15/SF
− OpEx
−$18.0K −$6.82/SF
NOI
$22.0K $8.33/SF
Area
Des Moines, IA
Vacancy
3.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$440,580
Cap Rate 7%
$314,700
Cap Rate 9%
$244,767
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.2K – $411.0K
NOI $24,658 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$314.7K
$275.4K – $367.2K
NOI $22,029 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$650.9K
$569.6K – $759.4K
NOI $45,564 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct units include different layouts, attached parking, and current occupancy with management already in place.
Where is this duplex located?
The property is located at 4131 55th Street Des Des Moines, IA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 Bed/1 Bath and 4 Bed/2 Bath layouts; Unit B includes a 2 car attached garage; Fully occupied with property management already in place
