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    Des Moines Duplex Investment Opportunity

    612 Mckinley Avenue Des Moines, IA 50315

    612 Mckinley Avenue, Des Moines, IA, 50315
    $280,000
    For Sale
    Claim this Listing
    $280,000

    MULTI_FAMILY - Other - Des Moines, IA

    Property Size2,016 SF
    Lot Size0.23 Acres
    Price / SF$138.89
    AddedApr 8
    Days on Market99
    Last RefreshJul 15 at 6:06 pm

    Property Features for 612 Mckinley Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    N3A
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Basement, Bathroom 1
    Appliances
    Dishwasher, Microwave, Refrigerator, Stove
    Standard status
    Active
    APN
    12000490002002
    Size
    2,016 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    -EX BEG NW COR LOT 13 THN E 66F S 3F W 66F N 3F TO POB- N 155F W 66F N 330F LOT 13 CONRAD PLACE
    Tax Annual Amount
    4572

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1972
    Floors in Building
    2
    Building materials
    WoodSiding
    Roof type
    Shingle, Asphalt
    Architectural style
    Other

    Listing agent Dustin Kupka License #S65754000

    Listing office RE/MAX Precision 210 SE Main St, Clive, IA

    Listing date Apr 8, 2026

    MLS# 737823 Listing URL

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This duplex is located off McKinley Ave in South Des Moines. Each unit features 3 bedrooms and 1.5 bathrooms. Both units are currently rented at $1,200 per month. Tenants are responsible for all utilities, including water, sewer, storm water, gas, and electric, as well as snow removal and lawn care. The property is conveniently located near shopping, dining, and everyday essentials along SE 14th St, with easy access to Gray's Lake Park and Water Works Park, and just minutes from downtown Des Moines. The property includes a bedroom and 1/2 bathroom in the basement and a spacious backyard. The property has a functional layout. The roof was replaced in 2020, and the windows and water heater were replaced in 2023. The lot size is 0.23 acres, and the property size is 2016 square feet. This property offers potential for investors looking to enhance value and maximize returns.

    Key Highlights

    • 1972 walkout duplex with 3 bedrooms and 1.5 bathrooms
    • Both units currently rented at $1,200/month
    • Updates include new roof (2020), newer windows, and water heater replaced (2023)

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $27.8k $13.80
    − Vacancy −$951 −$0.47
    EGI $26.9k $13.33
    − OpEx −$8.1k −$4.00
    NOI $18.8k $9.33
    2,016 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $268.7K
    $235.1K – $313.5K (±1% cap)
    NOI $18,809 @ 7.0% cap · market cap 6.72%
    Second Best
    Apartment 5plus
    $240.0K
    $210.0K – $280.1K (±1% cap)
    NOI $16,803 @ 7.0% cap · market cap 6.00%
    Theoretical Best
    Office A
    $496.5K
    $434.4K – $579.3K (±1% cap)
    NOI $34,755 @ 7.0% cap · market cap 12.41%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm HVAC Service Electrical Service Hair Salon Cafe & Coffee Shop Skin Care Clinic Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Income-generating duplex near shopping, dining, and downtown Des Moines.
    Where is this duplex located?
    The property is located at 612 Mckinley Avenue Des Moines, IA.
    What is the asking price?
    The asking price for this property is $280,000.
    What are key features of this property?
    This property features: 1972 walkout duplex with 3 bedrooms and 1.5 bathrooms; Both units currently rented at $1,200/month; Updates include new roof (2020), newer windows, and water heater replaced (2023)
    Contact an agent
    (515) 681-7001
    We can help!
    Contact an agent
    Dustin Kupka
    Real Estate License ID: S65754000
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