Duplex with Detached
New
For Sale
$348,400
717 and 719 NE 6th Street, Ankeny, IA 50021
MultiFamily, Ankeny, IA
Property Size2,200 SF
Lot Size0.24 Acres
Price / SF$158.36
Days on Market2
Property Features for 717 and 719 NE 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Basement, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking features
Garage
Elementary school district
Ankeny
Middle school district
Ankeny
High school district
Ankeny
Directions
EN TRILENIN TO NE 6TH
Subdivision
Ankeny
Standard status
Active
APN
18100422090030
Size
2,200 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 4 & W 13F LOT 5 HAYES ACRES PLAT 7
Tax Annual Amount
5161
Legal Description
LOT 4 & W 13F LOT 5 HAYES ACRES PLAT 7
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
patio
Building Details
Year built
1978
Floors in Building
2
Number of units
2
Building materials
Brick, VinylSiding
Architectural style
Other
Listing Agency:
RE/MAX Concepts · RE/MAX International
(877) 407-2676
Listed By:
Stephanie Thomas
(515) 771-7788
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 3:06AM
MLS# 751780
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.
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Investment Insights
Based on property information with market context.
This two-unit residential property totals 2,200 square feet on a 0.244-acre lot. Both units have finished basements with egress windows and private patios. A detached two-car garage is divided to provide one stall for each unit, and a furnace-room area provides storage. Built in 1978, the building features brick and vinyl siding, forced-air natural gas heat, and central air conditioning.
Gas, electric, and water are separately metered, with tenants responsible for those utilities as well as lawn care and snow removal. The property is zoned R2 and is currently owner-managed.
Gas, electric, and water are separately metered, with tenants responsible for those utilities as well as lawn care and snow removal. The property is zoned R2 and is currently owner-managed.
Key Highlights
- Two‑unit property with 2,200 square feet on a 0.244‑acre lot
- Detached two‑car garage with one stall assigned to each unit
- Finished basement with egress windows in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,518
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,360
$390.4K
Cap Rate 7%
$278,829
$278.8K
Cap Rate 9%
$216,867
$216.9K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$29.6K $13.44/SF
− Vacancy
−$1.7K −$0.77/SF
EGI
$27.9K $12.67/SF
− OpEx
−$8.4K −$3.80/SF
NOI
$19.5K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,360
Cap Rate 7%
$278,829
Cap Rate 9%
$216,867
Alternative Uses
Best Use
Multifamily LT 5
$278.8K
$244.0K – $325.3K
NOI $19,518 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$243.7K
$213.3K – $284.4K
NOI $17,061 @ 7.0% cap · market cap 4.90%
Theoretical Best
Flex RnD
$2.12M
$1.85M – $2.47M
NOI $148,245 @ 7.0% cap · market cap 42.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 50021, IA
28,807
Population
12,463
Households
2.3
Avg Household Size
36
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,195
Density / Sq Mi
$98,847
Median Household Income
$55,108
Median Earnings
$1,434
Median Rent
$295,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas, electric, and water service are paid by tenants, with lawn and snow care also handled by residents.
Where is this duplex located?
The property is located at 717 and 719 NE 6th Street Ankeny, IA.
What is the asking price?
The asking price for this property is $348,400.
What are key features of this property?
This property features: Two‑unit property with 2,200 square feet on a 0.244‑acre lot; Detached two‑car garage with one stall assigned to each unit; Finished basement with egress windows in both units
