Des Moines Duplex: Hybrid
6306 Urbandale Ave, Des Moines, IA 50322
Well-maintained duplex with long-term and medium-term rental income potential.
Type:Multifamily
Property size:
2,260 SFPrice / SF:
$110/SF- Added:
- Feb 16, 2026
- Days on Market:
- 131
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 6306 Urbandale Ave
General Information
- Standard status
- Active
- Size
- 2,260 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing office CHASE. Collective
Listing date Feb 16, 2026
Source Crexi
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 CHASE. Collective
HighLights
- Hybrid income property with stable long‑term tenant and high‑occupancy furnished medium‑term rental (MTR) unit, providing immediate cash flow.
- Turnkey MTR operation with all furniture, equipment, and housewares included; FF&E replaced in Fall 2025.
- Significant recent capital improvements including roof, windows, doors, exterior paint, and sewer line replacement (2025).
- Strong financial performance: $19,687 in‑place NOI with a path to $23,000 pro forma NOI; 7.9% in‑place cap rate and 9.2% pro forma cap rate.
- Each unit has its own attached 1‑car garage.
- Prime location on Urbandale Ave, central to Des Moines metro, with easy access to amenities.
Overview
The property at 6306 Urbandale Ave is a duplex featuring a hybrid income setup, combining stable long-term tenancy with a furnished medium-term rental operation. The duplex consists of two units, each with 2 bedrooms and 1 bathroom, and approximately 750 square feet of finished space, plus around 400 square feet of unfinished basement storage. Each unit includes an attached 1-car garage. Utilities are separately metered. One unit operates as a furnished medium-term rental, catering to traveling nurses and similar renters with average stays of 1–3 months. It has historically maintained near 100% occupancy, generating typical monthly revenue of $1,900–$2,100. The sale is turnkey, including all furniture, equipment, and housewares, which were replaced in Fall 2025. The other unit is occupied by a long-term tenant on a month-to-month lease. The unit features a newer kitchen with older flooring. Major reinvestment has been completed in recent years, including roof, windows, doors, exterior paint, and sewer line replacement in 2025. The furnished unit received flooring upgrades in 2022 and a Fall 2025 FF&E refresh. The property's location on Urbandale Ave supports both renter profiles, offering commute efficiency and convenient access to retail, services, and major routes. It is approximately 5 minutes from I-235, 10 minutes from Downtown Des Moines, and 5 minutes from I-80 / I-35. The Merle Hay area, including Merle Hay Mall, and essentials like Target and Starbucks are roughly 2 minutes away. The property size is 2260 square feet.
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 | $31.2k | $13.80 |
| − Vacancy | −$1.1k | −$0.47 |
| EGI | $30.1k | $13.33 |
| − OpEx | −$9.0k | −$4.00 |
| NOI | $21.1k | $9.33 |
2,260 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.2K
$263.6K – $351.4K
NOI $21,085 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$269.1K
$235.5K – $314.0K
NOI $18,837 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$556.6K
$487.0K – $649.4K
NOI $38,962 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.7041668
- Latitude
- 41.6218493
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex with long-term and medium-term rental income potential.
Where is this duplex located?
The property is located at 6306 Urbandale Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Hybrid income property with stable long‑term tenant and high‑occupancy furnished medium‑term rental (MTR) unit, providing immediate cash flow.; Turnkey MTR operation with all furniture, equipment, and housewares included; FF&E replaced in Fall 2025.; Significant recent capital improvements including roof, windows, doors, exterior paint, and sewer line replacement (2025).
