Renovated Duplex with Private
For Sale
$245,000
525 /527 6th St Unit 2, West Des Moines, IA 50265
Two residential units feature updated kitchens, remodeled bathrooms, and shared basement laundry facilities.
Property Size1,528 SF
Price / SF$160.34
Days on Market79
Property Features for 525 /527 6th St Unit 2
General Information
Standard status
Active
Size
1,528 SF
Property subtype
Multi-Family
Building Details
Year Built
1903
Listing Agency:
Keller Williams Realty GDM
Listed By:
Sonja Winter · License #S70604000
(515) 306-4854
Source:
Dsmsold
Added: Jul 28
Changed: Oct 8
Last Checked: Oct 12 at 9:33PM
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
Investment Insights
Based on property information with market context.
This duplex contains two separately entered residences within a 1,528-square-foot building constructed in 1903. The first-floor unit has two bedrooms and one bathroom, while the second-floor residence includes one bedroom and one bathroom. Both kitchens have been updated with white cabinetry and appliances, including dishwashers and over-the-range microwaves. Ceramic-tile bathroom updates include tubs with showers. A shared basement provides washer and dryer access.
The property is located near Valley Junction amenities, including the Thursday farmers market, retail shops, galleries, antique stores, restaurants, Legion Park, tennis courts, baseball and softball fields, a wading pool, and park shelters. Raccoon River Park, Blue Heron Lake/Beach, Holiday Park Aquatic Center, Jordan Creek Mall, downtown Des Moines, and Des Moines International Airport are also identified in the surrounding area. I-235 provides regional access. The landlord plans to have the units rented before closing, subject to the buyer’s right to approve tenants.
The property is located near Valley Junction amenities, including the Thursday farmers market, retail shops, galleries, antique stores, restaurants, Legion Park, tennis courts, baseball and softball fields, a wading pool, and park shelters. Raccoon River Park, Blue Heron Lake/Beach, Holiday Park Aquatic Center, Jordan Creek Mall, downtown Des Moines, and Des Moines International Airport are also identified in the surrounding area. I-235 provides regional access. The landlord plans to have the units rented before closing, subject to the buyer’s right to approve tenants.
Key Highlights
- Two‑unit duplex with private entrances for each residence
- 1,528‑square‑foot building constructed in 1903
- First‑floor unit offers 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,556
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,120
$271.1K
Cap Rate 7%
$193,657
$193.7K
Cap Rate 9%
$150,622
$150.6K
Market Conditions
NOI Build-Up for 1,528 SF
Gross rent
$20.5K $13.44/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$19.4K $12.67/SF
− OpEx
−$5.8K −$3.80/SF
NOI
$13.6K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,120
Cap Rate 7%
$193,657
Cap Rate 9%
$150,622
Alternative Uses
Best Use
Multifamily LT 5
$193.7K
$169.5K – $225.9K
NOI $13,556 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$169.3K
$148.1K – $197.5K
NOI $11,850 @ 7.0% cap · market cap 4.84%
Theoretical Best
Flex RnD
$1.47M
$1.29M – $1.72M
NOI $102,963 @ 7.0% cap · market cap 42.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Explore this area
Business Placement
Demographics for 50265, IA
32,187
Population
15,104
Households
2.1
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
19.3 sq mi
ZIP Area
1,668
Density / Sq Mi
$84,588
Median Household Income
$49,785
Median Earnings
$1,065
Median Rent
$267,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature updated kitchens, remodeled bathrooms, and shared basement laundry facilities.
Where is this duplex located?
The property is located at 525 /527 6th St Unit 2 West Des Moines, IA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex with private entrances for each residence; 1,528‑square‑foot building constructed in 1903; First‑floor unit offers 2 bedrooms and 1 bathroom
