707 & 715 E Mckinley Avenue, Des Moines, IA 50315
MULTI_FAMILY - Other - Des Moines, IA
- Added:
- Jun 10, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 11 at 4:06 am
Property Features for 707 & 715 E Mckinley Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- N3AF
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 3, Basement, Bedroom 4, Bedroom 8, Bathroom 4, Bedroom 3, Bathroom 2
- Parking features
- Garage
- Appliances
- Dishwasher, Refrigerator, Stove
- Standard status
- Active
- APN
- 120/00138-105-000 & 120/00138-104-000
- Size
- 3,499 SF
- Lot size
- 0.67 Acres
Taxes and HOA fees
- Tax Description
- LOT 5 BELNOR HEIGHTS PLAT 2
- Tax Annual Amount
- 10333
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1984
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Carpet
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Dustin Kupka License #S65754000 (515) 681-7001
Listing office RE/MAX Precision 210 SE Main St, Clive, IA (515) 223-9492
Listing date Jun 10, 2026
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.
HighLights
- Two side‑by‑side duplexes at 707 and 715 E. McKinley Ave.
- Four total units; per seller, each unit has 3 bedrooms plus additional finished basement space.
- Combined gross monthly income for both duplexes is $4,893.
- Tenants pay all utilities including water, sewer, storm water, gas, electric, plus lawn care and snow removal.
- 715 updates: new furnace and A/C in 2023; 717 water heater replaced in 2024.
- Parking includes a garage, and both properties have spacious backyards with walkout basements.
Overview
The properties feature a shared driveway configuration, and the owner is responsible for snow removal of the parking areas due to the shared driveways. Tenants are responsible for all utilities, including water, sewer, storm water, gas, electric, lawn care, and snow removal, which can help keep operating expenses aligned with tenant responsibility. Recent improvements reported by the seller include a new furnace and A/C at 715 (2023) and a replaced water heater at 717 (2024).
The layout and utility setup can support investors seeking a manageable duplex structure with shared operational considerations between the two addresses. Each unit’s 3-bedroom configuration and finished basement space may appeal to tenants looking for additional living area within a duplex setting. The seller also indicates additional properties are available from the same owner, which may allow for expansion of a broader multifamily portfolio.
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 | $48.3k | $13.80 |
| − Vacancy | −$1.7k | −$0.47 |
| EGI | $46.6k | $13.33 |
| − OpEx | −$14.0k | −$4.00 |
| NOI | $32.6k | $9.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.602775
- Latitude
- 41.540441
