Duplex with
5802 & 5806 NE 3rd Street, Des Moines, IA 50313
For Sale
$295,000
Both units include living, dining, and kitchen areas, with pantry storage and access to a backyard.
Property Size1,556 SF
Price / SF$189.59
Days on Market68
Property Features for 5802 & 5806 NE 3rd Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Boutique Real Estate
Listed By:
Lacie Sibley
(515) 314-4777
Source:
Goodallproperties
Added: Sep 3
Changed: Nov 7
Last Checked: Nov 9 at 12:48PM
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 Boutique Real Estate
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Investment Insights
Based on property information with market context.
Built in 1993, this duplex contains 1,556 square feet across two residences. Each unit has two bedrooms and one bathroom, with living, dining, and kitchen areas and a pantry. The property also includes a backyard and is zoned Res.
Located at 5802 and 5806 NE 3rd Street in Des Moines, the property offers access to an interstate for regional travel.
Located at 5802 and 5806 NE 3rd Street in Des Moines, the property offers access to an interstate for regional travel.
Key Highlights
- Two‑unit duplex with 1,556 square feet
- Each unit has 2 bedrooms and 1 bathroom
- Living, dining, and kitchen areas with pantry in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,517
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,340
$290.3K
Cap Rate 7%
$207,386
$207.4K
Cap Rate 9%
$161,300
$161.3K
Market Conditions
NOI Build-Up for 1,556 SF
Gross rent
$21.5K $13.80/SF
− Vacancy
−$734 −$0.47/SF
EGI
$20.7K $13.33/SF
− OpEx
−$6.2K −$4.00/SF
NOI
$14.5K $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%
$290,340
Cap Rate 7%
$207,386
Cap Rate 9%
$161,300
Alternative Uses
Best Use
Multifamily LT 5
$207.4K
$181.5K – $242.0K
NOI $14,517 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$185.3K
$162.1K – $216.2K
NOI $12,969 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$383.2K
$335.3K – $447.1K
NOI $26,825 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 50313, IA
17,723
Population
7,674
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
86%
High-School Grad
18.1 sq mi
ZIP Area
979
Density / Sq Mi
$64,077
Median Household Income
$36,284
Median Earnings
$1,077
Median Rent
$161,800
Median Home Value
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Market
Average Price Trend$/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 - Both units include living, dining, and kitchen areas, with pantry storage and access to a backyard.
Where is this duplex located?
The property is located at 5802 & 5806 NE 3rd Street Des Moines, IA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,556 square feet; Each unit has 2 bedrooms and 1 bathroom; Living, dining, and kitchen areas with pantry in each unit
