3325 1st St Des Moines 3325 1st St 2 Lot Offre d’immeuble d’habitation à 163 780 € Des Moines, IA 50313

Turnkey Brick Duplex with Strong Upside — Just North of Downtown Des Moines
This solid, well-maintained brick duplex offers an immediate opportunity for investors or owner-occupants looking to step into a stable property with major upside. Each unit features 2 bedrooms and 1 bathroom across roughly 915 square feet, plus private basement access with shared laundry. Hardwood floors are in great shape throughout the upper level, and a new roof and windows (2020), along with updated HVAC, mean the big-ticket items have already been handled — leaving a low-maintenance investment for years to come.
Both units are currently tenant-occupied on month-to-month leases, giving the next owner full flexibility to keep long-term tenants, adjust rents, or reposition the property for short- or mid-term rentals. Each tenant pays their own gas and electric, along with water and garbage, and handles lawn care and snow removal, making this a simple property to manage. One unit also features a spacious three-season porch, adding bonus living space and extra appeal.
The property includes a two-car garage (one stall per unit) and sits on a corner lot of 0.15 acres. Current rents are well below market at $785 per unit, with potential to reach around $1,100 per unit, bringing the projected NOI north of $18,000 once stabilized (vs. current NOI of ~$11,700).
Located just two miles from downtown Des Moines and its major hospitals, this property is ideally positioned for traveling nurse housing, executive rentals, or long-term tenants alike. Easy access to Interstate 35 and 235 in every direction makes commuting effortless, and the surrounding Oak Park / Highland Park neighborhood offers the charm of a classic Des Moines community with quick access to local shops, restaurants, and parks.
With the seller relocating out of state, this duplex is priced well below market at $190,000 — and opportunities like this don’t last long.
Act quickly — this deal will move fast and likely above asking.