Attention investors and owner occupants. This updated duplex is a fantastic opportunity to build wealth through real estate while generating rental income. Whether you're looking to add to your investment portfolio or live in one unit and rent the other, this property offers flexibility and long term potential.
Both units feature durable luxury vinyl plank flooring throughout with no carpet, creating a clean, modern look that is easy to maintain and appealing to tenants. The functional layouts provide comfortable living spaces that are move in ready, helping you attract renters quickly.
One of the standout features is the walk out basement, offering the potential to finish additional living space, create extra storage, or explore future income producing possibilities. The private backyard provides outdoor space that tenants will appreciate and adds to the property's overall appeal.
Conveniently located near downtown Des Moines, schools, restaurants, shopping, parks, and major highways, this duplex offers easy access to everything tenants are looking for. With updated finishes, low maintenance flooring, and room to add value, this is an investment opportunity you won't want to miss.
For sale
$275,000
121 E Watrous Ave, Des Moines, IA 50315
4beds
1,408sqft
Multi Family
Built in 1977
-- sqft lot
$270,000 Zestimate®
$195/sqft
$-- HOA
What's special
Walk out basementClean modern lookFunctional layoutsUpdated finishesLow maintenance flooringPrivate backyard
- 28 days |
- 451 |
- 28 |
Zillow last checked:
Listing updated:
Listed by:
Shonna Murrey 515-612-8939,
Epique Realty
Source: DMMLS,MLS#: 746261
Originating MLS: Des Moines Area Association of REALTORS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Forced Air, Gas, Natural Gas
Cooling
- Central Air
Appliances
- Included: Refrigerator, Stove
Features
- Basement: Unfinished,Walk-Out Access
Interior area
- Total structure area: 1,408
- Total interior livable area: 1,408 sqft
Property
Features
- Stories: 1
Lot
- Size: 9,713 Square Feet
- Dimensions: 69 x 140
Details
- Parcel number: 12005236001000
- Zoning: Res
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Ranch
- Property subtype: Multi Family
Materials
- Foundation: Poured
- Roof: Asphalt,Shingle
Condition
- Year built: 1977
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Des Moines
Financial & listing details
- Price per square foot: $195/sqft
- Tax assessed value: $210,000
- Annual tax amount: $3,958
- Date on market: 7/29/2026
- Cumulative days on market: 29 days
- Listing terms: Cash,Conventional
- Road surface type: Concrete
Estimated market value
Zestimate®
$270,000
Estimated sales range
$257,000 - $284,000
Rent Zestimate®
$1,423/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/8/2026 | Listing removed | $1,075$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/29/2026 | Listed for sale | $275,000+41%$195/sqft |
Source: | ||
| 7/21/2026 | Listed for rent | $1,075$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/23/2026 | Listing removed | $1,075$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/5/2026 | Listed for rent | $1,075$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/20/2025 | Listing removed | $1,075$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/24/2025 | Price change | $1,075-8.5%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/9/2025 | Listed for rent | $1,175+11.9%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/30/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 5/23/2023 | Listed for rent | $1,050+31.3%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/15/2021 | Listing removed | -- |
Source: | ||
| 6/11/2021 | Listed for sale | $195,000$138/sqft |
Source: | ||
| 6/3/2021 | Pending sale | $195,000$138/sqft |
Source: | ||
| 6/2/2021 | Listed for sale | $195,000+62.5%$138/sqft |
Source: | ||
| 6/10/2019 | Listing removed | $800$1/sqft |
Source: Go Section8 Report a problem | ||
| 3/15/2019 | Price change | $800-5.9%$1/sqft |
Source: Go Section8 Report a problem | ||
| 3/1/2019 | Listed for rent | $850$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 7/29/2014 | Sold | $120,000+0.4%$85/sqft |
Source: Public Record Report a problem | ||
| 9/28/2007 | Sold | $119,480-2.1%$85/sqft |
Source: Public Record Report a problem | ||
| 1/7/2004 | Sold | $122,000$87/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,726 +2% | $210,000 +13.1% |
| 2024 | $3,652 +7.5% | $185,600 |
| 2023 | $3,396 +0.8% | $185,600 +28.8% |
| 2022 | $3,370 -4.1% | $144,100 |
| 2021 | $3,514 -12.7% | $144,100 +2.3% |
| 2020 | $4,023 +20.2% | $140,800 |
| 2019 | $3,348 +1% | $140,800 +13% |
| 2018 | $3,314 | $124,600 |
| 2017 | $3,314 +11% | $124,600 +10% |
| 2016 | $2,986 | $113,300 |
| 2015 | $2,986 +1.2% | $113,300 -1.7% |
| 2014 | $2,952 | $115,300 |
| 2013 | -- | $115,300 -0.9% |
| 2012 | -- | $116,300 |
| 2011 | -- | $116,300 -4.4% |
| 2010 | -- | $121,700 |
| 2009 | -- | $121,700 +14.3% |
| 2008 | -- | $106,500 |
| 2007 | -- | $106,500 +3.2% |
| 2006 | -- | $103,200 |
| 2005 | -- | $103,200 +13% |
| 2003 | -- | $91,350 +11.7% |
| 2002 | -- | $81,770 |
| 2001 | -- | $81,770 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Magnolia Park
Nearby schools
GreatSchools rating
- 4/10South Union Elementary SchoolGrades: K-5Distance: 0.2 mi
- 2/10Weeks Middle SchoolGrades: 6-8Distance: 0.8 mi
- 2/10Lincoln High SchoolGrades: 9-12Distance: 1.2 mi
Schools provided by the listing agent
- District: Des Moines Independent
Source: DMMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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