$325,000

615 Ken Maril Road 617, Ames, IA 50010

  • 4 beds |
  • 2 baths |
  • 1,009 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1979
  • Property Lot Size Icon8,751sqft lot
  • Property Parking Icon 2 car garage
  • Property Price Per Square Feet Icon $322/sqft
  • Property List Date Icon Listed 5 days ago

Property Description

ASSUMABLE 2.875% FHA loan with approximately 25 years remaining; a RARE opportunity to secure financing far below today's market rates. For investors or house hackers, this creates the chance to step into a significantly lower monthly payment while building equity in one of Iowa's most stable rental markets near Iowa State University. Letter of Compliances already taken care of. This maintained duplex features 2 units, each offering 2 beds + 1 full bath, laundry in both units, along with a detached 2 car garage and a practical layout. Each unit has separate mechanicals + separate utility meters, allowing tenants to pay their own utilities and simplifying mgmt for the owner. The home has been updated with new LVP flooring, fresh interior paint, and improved landscaping, giving it an updated feel. The owner has also completed meaningful capital improvements, including installing a brand new city water line to the property + replacing the roof on the detached garage along w/ new high-quality gutters and gutter guards; significant upgrades already taken care of for the next owner. All appliances included + vinyl windows make this an investment ready for immediate occupancy/rental income. Whether you're looking to house hack or add a solid property to your portfolio, this duplex offers strong fundamentals, low-maintenance updates, and the rare assumable 2.875% mortgage. (to qualify for assumable mortgage you have to live in 1 side) Call agent today for your showing and more info!!

Listing Status:
Active
Date Added:
March 12, 2026
Data Last Updated:
March 17, 2026 at 3:20PM
Listing Office:
RE/MAX Real Estate Center : (515) 232-4663
Listing Agent:
Traci Jennings : (515) 232-4663
MLS ID:
735324
  • General: Window Treatments
  • Appliances: DryerMicrowaveRefrigeratorStoveWasher
  • Laundry: Upper Level
  • Basement: Finished
  • A/C: Central Air
  • Heating: Forced AirGasNatural Gas
  • Style: Split-Foyer
  • Parking: DetachedGarageTwo Car Garage
  • Roofing: AsphaltShingle
  • General: BrickVinyl SidingMulti/SplitBlock
  • Road/Access: Concrete
  • Originating MLS: DMAAR_DM
  • School District: Ames
  • County: Story
  • Zoning: RLSOUTHDALE 3RD ADD LOT:41 AMES0923276330
  • Utilities: Electricity AvailableNatural Gas AvailableWater Available
  • Water: Public
  • Sewer: Public Sewer
  • Source: DMAAR_DM

This listing courtesy of Traci Jennings , RE/MAX Real Estate Center

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

M

Mitchell Elementary School

3521 Jewel Dr, Ames, IA, 50010

Grades KG-5

0.26 miles away

A

Ames Middle School

3915 Mortensen Rd, Ames, IA, 50014

Grades 6-8

3.94 miles away

A

Ames High School

1921 Ames High Dr, Ames, IA, 50010

Grades 9-12

4.00 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.