Renovated ADA-Compliant
For Sale
$395,000
530 SW Maple St, Ankeny, IA 50023
Two-unit residential property with updated interiors, unfinished basements, and a two-car garage.
Property Size2,080 SF
Days on Market194
Property Features for 530 SW Maple St
General Information
Standard status
Active
Size
2,080 SF
Property subtype
MultiFamily Apartments
Building Details
Building Size
2,080 SF
Year Built
1958
Listing Agency:
Better Commercial - Remax Concepts
(319) 231-1160
Listed By:
Chase Keller · License #S63136000
(319) 231-1160
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 30 at 1:06AM
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.
This 2,080-square-foot duplex contains two residential units, each with three bedrooms and an ADA-compliant layout. The building was substantially renovated in 2016, including a full interior refurbishment and upgraded finishes. Both units also include unfinished basement space, while a two-car garage adds on-site parking and storage capacity. The property is zoned R-2 and reported at 100% occupancy.
Located in Ankeny near Uptown Ankeny and The District at Prairie Trail, the property is close to dining, shopping, and entertainment. Ankeny High School and Ankeny Middle School are a few blocks away, with John Deere Des Moines Works and Des Moines Area Community College among the nearby employment and education destinations. Access to 1st St, Ankeny Blvd, and State St supports local connectivity; Interstate 35 is approximately 6 minutes away, Interstate 80 is 10 minutes away, and downtown Des Moines is a 16-minute drive.
Located in Ankeny near Uptown Ankeny and The District at Prairie Trail, the property is close to dining, shopping, and entertainment. Ankeny High School and Ankeny Middle School are a few blocks away, with John Deere Des Moines Works and Des Moines Area Community College among the nearby employment and education destinations. Access to 1st St, Ankeny Blvd, and State St supports local connectivity; Interstate 35 is approximately 6 minutes away, Interstate 80 is 10 minutes away, and downtown Des Moines is a 16-minute drive.
Key Highlights
- 2,080 SF duplex with 2 residential units
- Renovated in 2016 with extensive interior refurbishment and upgraded finishes
- Both units feature 3 bedrooms and ADA‑compliant layouts
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
$18,453
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
4.67%
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%
$369,060
$369.1K
Cap Rate 7%
$263,614
$263.6K
Cap Rate 9%
$205,033
$205.0K
Market Conditions
NOI Build-Up for 2,080 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
$28.0K $13.44/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$26.4K $12.67/SF
− OpEx
−$7.9K −$3.80/SF
NOI
$18.5K $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 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%
$369,060
Cap Rate 7%
$263,614
Cap Rate 9%
$205,033
Alternative Uses
Best Use
Multifamily LT 5
$263.6K
$230.7K – $307.6K
NOI $18,453 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$230.4K
$201.6K – $268.8K
NOI $16,130 @ 7.0% cap · market cap 4.08%
Theoretical Best
Flex RnD
$2.00M
$1.75M – $2.34M
NOI $140,159 @ 7.0% cap · market cap 35.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 50023, IA
43,603
Population
17,822
Households
2.4
Avg Household Size
34
Median Age
55%
College-Educated
99%
High-School Grad
21.0 sq mi
ZIP Area
2,076
Density / Sq Mi
$113,914
Median Household Income
$59,891
Median Earnings
$1,191
Median Rent
$327,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with updated interiors, unfinished basements, and a two-car garage.
Where is this duplex located?
The property is located at 530 SW Maple St Ankeny, IA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,080 SF duplex with 2 residential units; Renovated in 2016 with extensive interior refurbishment and upgraded finishes; Both units feature 3 bedrooms and ADA‑compliant layouts
