2703 College Avenue,Des Moines, IA 50311
Des Moines, IA 50311
Description
Don't miss this outstanding income-producing investment opportunity featuring 5 bedrooms, 2 bathrooms, a separate lot, and exceptional parking amenities. This well-maintained property is tenant occupied with a lease in place through July 2027, generating $2,500 per month in rental income, making it an ideal turnkey addition to your investment portfolio. The home underwent a complete interior remodel in 2023, including all new windows, creating an updated, modern living space while minimizing future maintenance. The roof is less than 10 years old, and the seller reports no known issues, offering added confidence for the next owner. An added bonus is 2705 College Ave, which includes a detached one-car garage along with surface parking for tenants of both 2703 and 2707, providing valuable off-street parking rarely found in the area. Whether you're a seasoned investor or looking to begin building your real estate portfolio, this property delivers immediate cash flow with long-term stability. This home is located within the Neighborhood Finance Corporation (NFC) lending area. Eligible buyers financing through NFC may qualify for a $15,000 forgivable renovation grant, which could help offset the cost of adding a garage or other qualifying improvements after purchase. Buyer eligibility and program guidelines apply.
Details
| MLS # | 70708 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 42 |
| Listing Provided By | Heartland Realty | Lora Ahrens Olerich |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 1,110 |
| Basement | Y |
| Story(s) | 1 |
| Zoning | Res |
| Acreage | 0.31 |
Interior
| Rooms Total | 0 |
|---|---|
| Heating | Forced Air, Natural Gas |
| Heating Yes / No | Yes |
| Cooling | Central Air |
| Cooling Yes / No | Yes |
| Interior Features | Ceiling Fan(s) |
Exterior
| Foundation Details | Brick/Mortar |
|---|---|
| Architectural Style | Cape Cod |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|---|
| Water Source | Public |
Taxes
| Tax Legal Description | LOT 2 SMITHS 5TH ADDITION TO DES MOINES |
|---|---|
| Tax Assessed Value | 179300 |
Area Information
| State | IA |
|---|---|
| County | Polk |
| City | Des Moines |
| Zip Code | 50311 |
| Area | Des Moines |
| Subarea | Des Moines |
| School District | Des Moines |
| High School | Des Moines |
| Listing VS Median (in 50311) | |
Price: $225,000 low | high Med: $225,000 sqft: 1,110 low | high Med: 1,037 $ / sqft: $203 low | high Med: $217 On site: 42 low | high Med: 41 | |
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Learn More About This Property
| State | IA |
|---|---|
| County | Polk |
| City | Des Moines |
| Zip Code | 50311 |
| Area | Des Moines |
| Subarea | Des Moines |
| School District | Des Moines |
| High School | Des Moines |
| Listing VS Median (in 50311) | |
Price: $225,000 low | high Med: $225,000 sqft: 1,110 low | high Med: 1,037 $ / sqft: $203 low | high Med: $217 On site: 42 low | high Med: 41 | |
