3325 1st St, Des Moines, IA 50313

This solid, well-maintained brick duplex offers an immediate opportunity for investors or owner-occupants looking for a stable property with great upside. Each unit features 2 bedrooms and 1 bath across roughly 915 square feet, plus private basement access with shared laundry. Hardwood floors are in excellent shape throughout, and a new roof and windows (2020) along with updated HVAC mean the big-ticket items are done—leaving a low-maintenance investment for years to come. Both units are tenant-occupied on month-to-month leases, giving the next owner flexibility to keep tenants, adjust rents, or reposition for short- or mid-term rentals. Tenants pay their own utilities and handle lawn care and snow removal, making this an easy property to manage. One unit also includes a spacious three-season porch for added living space and appeal. The property includes a two-car garage (one stall per unit) on a 0.15-acre corner lot. Current rents are below market at $785 per unit, with potential near $1,100, bringing the projected NOI north of $18,000 once stabilized (vs. current ~$11,700). Located just two miles from downtown Des Moines and major hospitals, the property is ideally positioned for traveling nurse housing, executive rentals, or long-term tenants. With quick access to Interstates 35 and 235, commuting is simple, and the Oak Park/Highland Park area offers classic neighborhood charm with nearby shops, restaurants, and parks.