Side-by-Side Duplex
For Sale
$590,000
707 & 715 E Mckinley Ave, Des Moines, IA 50315
Two adjacent duplexes provide four rental units with walkout basements and spacious backyards.
Property Size3,499 SF
Price / SF$168.62
Days on Market61
Property Features for 707 & 715 E Mckinley Ave
General Information
Standard status
Active
Size
3,499 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$58,716
Multifamily Units
4
Building Details
Year Built
1984
Buildings
2
Listing Agency:
RE/MAX Precision
Listed By:
Dustin Kupka · License #S65754000
(515) 681-7001
Source:
Kwlegacyrealty
Added: Aug 8
Changed: Sep 9
Last Checked: Oct 5 at 8:33PM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
This offering includes two neighboring duplex properties at 707 and 715 E. McKinley Ave., totaling four units and 3,499 square feet. Each unit features three bedrooms, additional finished basement space, a walkout basement, and a functional floor plan. Spacious backyards add outdoor area to both properties.
The duplexes share driveways, with the owner handling snow removal for the parking areas. Residents are responsible for water, sewer, storm water, gas, electric, lawn care, and snow removal. The properties were built in 1984 and are positioned near shopping, dining, and everyday amenities. Additional duplexes at 801, 807, and 815 E. McKinley Ave. are also available from the same owner, providing a potential avenue to assemble a larger multifamily portfolio.
The duplexes share driveways, with the owner handling snow removal for the parking areas. Residents are responsible for water, sewer, storm water, gas, electric, lawn care, and snow removal. The properties were built in 1984 and are positioned near shopping, dining, and everyday amenities. Additional duplexes at 801, 807, and 815 E. McKinley Ave. are also available from the same owner, providing a potential avenue to assemble a larger multifamily portfolio.
Key Highlights
- Two adjacent duplexes at 707 and 715 E. McKinley Ave.
- Four total units, each with 3 bedrooms
- 3,499 square feet with additional finished basement space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,644
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,880
$652.9K
Cap Rate 7%
$466,343
$466.3K
Cap Rate 9%
$362,711
$362.7K
Market Conditions
NOI Build-Up for 3,499 SF
Gross rent
$48.3K $13.80/SF
− Vacancy
−$1.7K −$0.47/SF
EGI
$46.6K $13.33/SF
− OpEx
−$14.0K −$4.00/SF
NOI
$32.6K $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%
$652,880
Cap Rate 7%
$466,343
Cap Rate 9%
$362,711
Alternative Uses
Best Use
Multifamily LT 5
$466.3K
$408.1K – $544.1K
NOI $32,644 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$416.6K
$364.5K – $486.1K
NOI $29,163 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,322 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 adjacent duplexes provide four rental units with walkout basements and spacious backyards.
Where is this duplex located?
The property is located at 707 & 715 E Mckinley Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two adjacent duplexes at 707 and 715 E. McKinley Ave.; Four total units, each with 3 bedrooms; 3,499 square feet with additional finished basement space
