2525 51st St

2525 51st St, Des Moines, IA

$380,000

Price

9.13%

Cap Rate

$34,688

NOI

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Street
Map
Overview
Cap Rate
9.13%
NOI
$34,688
Building Size
4,134 sqft
Lot Area
0.488 acres
Occupancy
100%
Units
2
Year Built
1950
Floors
2
Description

This very unique Full Brick Duplex in located in a desirable residential neighborhood known as Beaverdale. With large 4 bed, 2 bath units, 2,067sf each side, with a garage and a large back yard, it's not going to be difficult keeping this building occupied with great tenants.
Units are currently occupied and on Month to Month leases, Currently under-rented with room for increased rents!

All utilities are separated and tenants are responsible. Tenants also take care of the lawn care and snow removal, making the management easy and the cashflow great.
Large 2 car garage, separate driveways for each tenant.

Located in the desirable Beaverdale neighborhood, this duplex is on the west end of Des Moines proper. Close to restaurants, shopping, entertainment, and more.
10 Minutes to Downtown, 1 mile to Merle Hay Mall, Target, Starbucks, ChickFilA, and more. And located in the center of the Metro, it's an easy commute for your tenants.

Des Moines is a very stable real estate market compared to many other areas. With extremely low unemployment, growing jobs and population Des Moines offers a lot of long-term potential for investors. Iowa is one of the best states for landlord protections and is a friendly state to do business. Des Moines has been increasing in population and jobs as well because of the low cost of living, but the high standard of living.

A vibrant gem in the heart of the prairie, Des Moines is named for the river that snakes through the city. This is Iowa's capital (and the county seat of Polk County), and it is filled with things to do. From concerts at the historic Salisbury House to the collections at Des Moines Art Center, and from the 81 miles of hiking and biking trails to the Greater Des Moines Botanical Gardens, Des Moines offers so much that it was named one of the top 10 cities in which to live by US News.

Home to such companies as John Deere, Pioneer, Corteva, Meredith Corporation, Wells Fargo, Voya Financial, and Principal Financial Group, Des Moines is considered one of the nation's wealthiest cities.

Greater Des Moines is vibrant, growing and experiencing tremendous momentum. Metrics such as gross domestic product growth, population growth and employment growth show DSM as one of the strongest metros in the Midwest. Greater Des Moines is home to many business successes and has received numerous accolades over the past several years. These recognitions include being named one of the top 10 best cities to live and work, one of the best cities for jobs, one of the top 10 places with the most job opportunities per capita and a top metro for economic development projects. Such accomplishments can be attributed to DSM’s talented workforce, impressive education ranking and strong business economy. 

Highlights
  • Large 4 bed, 2 bath units - 2067sf each
  • Purchase - $380,000
  • Proforma CapRate - 8.9%
  • Proforma Cash on Cash: 12.5%
  • 10 Minutes to Downtown
  • 1 Mile to Merle Hay Mall
Location
Gallery