2703 College Avenue

Des Moines, IA 50311

About this property

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.

About this property

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.

Features and Additional Information

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$225,000 Active
5 Bed(s)
3
Baths
1,110 sqft

Presented By Nerem and Associates Real Estate

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Get in touch today! Phone: 1-515-432-5650
Brokerage
Heartland Realty
1-515-432-8872
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Area Information

Des Moines | Polk County |

$ 225,000
This listing is play_arrow 0.0% lower than the average in the area
$ 225,000 in the area
1,110 SqFt
This listing is play_arrow 7.0% larger than the average in the area
1,037 SqFt in the area
$ 203 $/SqFt
This listing is play_arrow 6.6% less than the average in the area
$ 217 $/SqFt in the area
46 days on site
This listing is play_arrow 2.2% above the average in the area
45 days on site in the area

Schools in the Area

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    Elementary School
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    Middle School
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    High School
    Des Moines

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Listed By Lora Ahrens Olerich
Brokerage: Heartland Realty

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