900 Morton Avenue, Des Moines, IA 50316
MULTI_FAMILY - Other - Des Moines, IA
- Added:
- Apr 30, 2026
- Days on Market:
- 52
- Last Refresh:
- Jun 20 at 5:06 am
Property Features for 900 Morton Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- N5
- Bedrooms
- 5
- Rooms
- Bedroom 3, Basement, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 2
- Standard status
- Active
- APN
- 110-02984000000
- Size
- 2,013 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- LOT 16 BLK 8 GRAND VIEW
- Tax Annual Amount
- 4049
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1905
- Number of units
- 3
- Building materials
- VinylSiding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Pennie Carroll License #F05964000 (515) 490-8025
Listing office Pennie Carroll & Associates 3232 Hubbell Ave, Des Moines, IA (515) 490-8025
Listing date Apr 30, 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
- Turnkey investment property with extensive updates to kitchens, bathrooms, flooring, paint, siding, and roof.
- Strong income potential with a 3‑unit configuration: two 2‑bedroom units and one 1‑bedroom unit.
- Ideal for owner‑occupants looking to house hack, with the ability to live in one unit and rent out the others.
- Current rental certificate in place, allowing for immediate income generation.
- Includes a duplex and a separate single‑family home, offering a versatile property layout.
- Central air conditioning.
Overview
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 | $27.8k | $13.80 |
| − Vacancy | −$950 | −$0.47 |
| EGI | $26.8k | $13.33 |
| − OpEx | −$8.0k | −$4.00 |
| NOI | $18.8k | $9.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.606281
- Latitude
- 41.619795
