815 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 815 E Mckinley Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- N3A&F
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 2, Basement, Bedroom 4, Bedroom 3, Bathroom 2
- Appliances
- Dishwasher, Refrigerator, Stove
- Standard status
- Active
- APN
- 12000138101000
- Size
- 1,856 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Description
- LOT 1 BELNOR HEIGHTS PLAT 2
- Tax Annual Amount
- 4633
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1983
- Floors in Building
- 2
- 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
- Walkout duplex with both units currently rented at $1,200/month
- New roof in 2021; water heater replaced in 2022; new AC and furnace in 2023
- Heating: forced air with natural gas; cooling: central air
- Public water and public sewer connected
- Rental certificate valid through Aug 10, 2027
- Tenants pay all utilities, including water, sewer, storm water, gas, and electric, plus snow removal and lawn care
Overview
The duplex is located just off E McKinley Avenue in South Des Moines (50315), in a neighborhood setting close to everyday amenities, shopping, and dining. The listing also notes that the rental certificate remains valid through August 10, 2027.
Both units are currently rented at $1,200 per month, providing immediate income for an owner-operator or investor. Tenants are responsible for all utilities, including water, sewer, storm water, gas, and electric, as well as snow removal and lawn care, which can help keep owner expenses more predictable. For buyers seeking a maintained duplex with current rental operations, clearly documented utility responsibility, and known recent capital updates, this property presents a practical option in Des Moines.
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 | $25.6k | $13.80 |
| − Vacancy | −$876 | −$0.47 |
| EGI | $24.7k | $13.33 |
| − OpEx | −$7.4k | −$4.00 |
| NOI | $17.3k | $9.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.601802
- Latitude
- 41.540583
