3611 11th St

What the listing says

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.