Two-Unit Duplex with Private
For Sale
$245,000
608 /610 5th St Unit 2, West Des Moines, IA 50265
Updated kitchens and bathrooms serve two separately entered residential units with shared laundry facilities.
Property Size2,268 SF
Price / SF$108.02
Days on Market59
Property Features for 608 /610 5th St Unit 2
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
shared washer/dryer
Building Details
Year Built
1912
Buildings
1
Listing Agency:
Keller Williams Realty GDM
Listed By:
Sonja Winter · License #S70604000
(515) 306-4854
Source:
Dsmsold
Added: Aug 17
Changed: Oct 7
Last Checked: Oct 12 at 10:49PM
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 residential units, each arranged with one bedroom and one bathroom. Both units have private entrances, while a shared basement provides washer and dryer access. Kitchen improvements include white cabinetry, a dishwasher, and an over-the-range microwave. The bathrooms feature ceramic tile, tubs, and showers.
Built in 1912, the property is located at 608/610 5th St Unit 2 in West Des Moines. Valley Junction amenities nearby include Legion Park, tennis courts, baseball and softball fields, a wading pool, park shelters, a farmers market, retail shops, galleries, antique stores, and restaurants. The property also offers access to Raccoon River Park, Blue Heron Lake/Beach, Holiday Park Aquatic Center, I-235, downtown Des Moines, Jordan Creek Mall, and Des Moines International Airport.
Built in 1912, the property is located at 608/610 5th St Unit 2 in West Des Moines. Valley Junction amenities nearby include Legion Park, tennis courts, baseball and softball fields, a wading pool, park shelters, a farmers market, retail shops, galleries, antique stores, and restaurants. The property also offers access to Raccoon River Park, Blue Heron Lake/Beach, Holiday Park Aquatic Center, I-235, downtown Des Moines, Jordan Creek Mall, and Des Moines International Airport.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom in each unit
- Private entrance provided for each residential unit
- Shared basement includes a washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,121
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,420
$402.4K
Cap Rate 7%
$287,443
$287.4K
Cap Rate 9%
$223,567
$223.6K
Market Conditions
NOI Build-Up for 2,268 SF
Gross rent
$30.5K $13.44/SF
− Vacancy
−$1.7K −$0.77/SF
EGI
$28.7K $12.67/SF
− OpEx
−$8.6K −$3.80/SF
NOI
$20.1K $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%
$402,420
Cap Rate 7%
$287,443
Cap Rate 9%
$223,567
Alternative Uses
Best Use
Multifamily LT 5
$287.4K
$251.5K – $335.4K
NOI $20,121 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.1K
NOI $17,588 @ 7.0% cap · market cap 7.18%
Theoretical Best
Flex RnD
$2.18M
$1.91M – $2.55M
NOI $152,827 @ 7.0% cap · market cap 62.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
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 - Updated kitchens and bathrooms serve two separately entered residential units with shared laundry facilities.
Where is this duplex located?
The property is located at 608 /610 5th 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 one bedroom and one bathroom in each unit; Private entrance provided for each residential unit; Shared basement includes a washer and dryer
