Side-by-Side Duplex
For Sale
$550,000
801 & 807 E Mckinley Ave, Des Moines, IA 50315
Four three-bedroom units feature finished basements, walkout access, and private outdoor areas near daily amenities.
Property Size3,499 SF
Price / SF$157.19
Days on Market59
Property Features for 801 & 807 E Mckinley Ave
General Information
Standard status
Active
Size
3,499 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$57,960
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:
Mistysoldteamiowa
Added: Aug 17
Changed: Oct 6
Last Checked: Oct 7 at 4:51PM
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 combines two adjoining duplexes at 801 and 807 E. McKinley Ave. Each of the four units has three bedrooms, finished basement area, a walkout basement, and a spacious backyard. The side-by-side arrangement creates a consolidated multifamily holding with shared driveways and practical management efficiencies. One unit at 803 E. McKinley Ave. received a new furnace and air-conditioning system in 2022.
Residents pay water, sewer, storm water, gas, electric, lawn care, and snow removal costs. The owner handles snow removal for the parking areas serving the shared driveways. The properties are positioned near shopping, dining, and everyday amenities in South Des Moines. Additional properties at 707, 715, and 815 E. McKinley Ave. are also available from the same owner, offering a potential path to assemble a larger multifamily collection.
Residents pay water, sewer, storm water, gas, electric, lawn care, and snow removal costs. The owner handles snow removal for the parking areas serving the shared driveways. The properties are positioned near shopping, dining, and everyday amenities in South Des Moines. Additional properties at 707, 715, and 815 E. McKinley Ave. are also available from the same owner, offering a potential path to assemble a larger multifamily collection.
Key Highlights
- Two duplexes positioned side by side at 801 and 807 E. McKinley Ave.
- Four total units, each with 3 bedrooms and finished basement area
- Walkout basements and spacious backyards across the duplex properties
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,644
Cap Rate
5.94%
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 5.94%
Second Best
Apartment 5plus
$416.6K
$364.5K – $486.1K
NOI $29,163 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,322 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Four three-bedroom units feature finished basements, walkout access, and private outdoor areas near daily amenities.
Where is this duplex located?
The property is located at 801 & 807 E Mckinley Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two duplexes positioned side by side at 801 and 807 E. McKinley Ave.; Four total units, each with 3 bedrooms and finished basement area; Walkout basements and spacious backyards across the duplex properties
