3611 11th St, Des Moines, IA 50313

Fully renovated in 2022, this duplex on a large corner lot offers rental income and flexible options for its next owner. Each unit features two bedrooms and one bathroom, making it a great fit for an investor or a buyer who wants to live in one unit while letting the other help offset their living expenses. The downstairs unit has an active lease at $1,100 per month. The upstairs unit is currently operated as a short-term/mid-term rental, with monthly income ranging from $1,400 to $1,900. For buyers who prefer long-term rentals, the upstairs unit’s estimated rent is $1,200–$1,400 per month. Combined gross rental income is projected at approximately $28,800 annually with both units rented long term or $33,000 annually with the mixed rental setup, before expenses. Projections use the midpoint of the upstairs rental ranges and aren’t guaranteed. Utilities are separate and are the tenant’s responsibility for long-term rentals. The upstairs unit has in-unit laundry and the downstairs unit has laundry in the basement. VALUE-ADD POTENTIAL: The massive corner lot offers expansive outdoor space and room to explore adding a garage or an accessory dwelling unit (ADU), subject to Des Moines city approval. TURNKEY OPPORTUNITY: High-quality upstairs furnishings are available for purchase at a separately negotiated price, offering a ready-to-use setup for buyers who want to continue short-term or mid-term rentals. OWNER FINANCING: Seller is willing to discuss owner financing through a Contract for Deed (Land Contract) with 50% down and a fixed annual interest rate of 6.2%. Payments would be amortized over 30 years, with all remaining principal and accrued interest due as a balloon payment exactly five years (60 months) from closing. Subject to mutually agreed terms and a signed contract. Buyer to independently verify all property information, measurements, rental figures, zoning and permitted uses, including short-term rental requirements and the ability to add a garage or an ADU. SHOWINGS BY ADVANCE APPOINTMENT ONLY: This property is occupied. Do not visit the property or disturb tenants or guests without a confirmed appointment. Upstairs tours will only be scheduled between guest stays and will not be arranged while the unit is booked.