Side-by-Side Duplex
707 & 715 E Mckinley Avenue Des Moines, IA 50315
For Sale
$590,000
MULTI_FAMILY - Other - Des Moines, IA
Property Size3,499 SF
Lot Size0.67 Acres
Price / SF$168.62
Days on Market49
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 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 4, Basement, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 5
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
Natural Gas, Forced Air
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
Shingle, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Precision
(515) 223-9492
Listed By:
Dustin Kupka · License #S65754000
(515) 681-7001
Added: Jun 10
Changed: Jul 11
Last Checked: Jul 28 at 1:06AM
MLS# 742767
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 for-sale duplex portfolio includes two side-by-side properties at 707 and 715 E Mckinley Avenue. Each duplex provides 3-bedroom units with additional finished basement space, along with backyards and functional floor plans.
Per the seller, tenants are responsible for all utilities, including water, sewer, storm water, gas, electric, lawn care, and snow removal. The owner is responsible for snow removal of the parking areas due to shared driveways.
Recent updates noted include a new furnace and AC in 2023 for 715, and a replaced water heater in 2024 for 717. The seller also indicates additional nearby duplex opportunities from the same owner are available for portfolio expansion.
Per the seller, tenants are responsible for all utilities, including water, sewer, storm water, gas, electric, lawn care, and snow removal. The owner is responsible for snow removal of the parking areas due to shared driveways.
Recent updates noted include a new furnace and AC in 2023 for 715, and a replaced water heater in 2024 for 717. The seller also indicates additional nearby duplex opportunities from the same owner are available for portfolio expansion.
Key Highlights
- Side‑by‑side duplexes at 707 & 715 E. McKinley Ave., offering 4 total units in one portfolio setup.
- Per seller, all four units have 3 bedrooms plus additional finished basement square footage; walkout basements and spacious backyards.
- Combined gross monthly income for both duplexes is $4,893.
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 |
3,499 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side duplexes offer four 3-bedroom units with finished basements and tenant-paid utilities.
Where is this duplex located?
The property is located at 707 & 715 E Mckinley Avenue 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: Side‑by‑side duplexes at 707 & 715 E. McKinley Ave., offering 4 total units in one portfolio setup.; Per seller, all four units have 3 bedrooms plus additional finished basement square footage; walkout basements and spacious backyards.; Combined gross monthly income for both duplexes is $4,893.
