$225,000

2703 College Avenue, Des Moines, IA 50311

3 beds |
2 baths |
1,110 sqft

Single-Family Home
Built in 1927
6,752sqft lot
—— car garage
$203/sqft
Listed 14 days ago

Property 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.

Listing Status:: Active
Date Added:: July 11, 2026
Data Last Updated:: July 26, 2026 at 4:17AM
Listing Office:: Heartland Realty : (515) 432-8872
Listing Agent:: Lora Olerich : (515) 432-8872
MLS ID:: 744976

Appliances: DryerDishwasherFreezerMicrowaveRefrigeratorStove
Basement: Partially Finished
A/C: Central Air
Heating: Forced AirGasNatural Gas
Fireplace: ElectricFireplace

Style: Cape CodOne and One Half Story

Roofing: AsphaltShingle
General: Vinyl SidingOne and One HalfBrick/Mortar

Road/Access: Concrete
Originating MLS: DMAAR_DM
School District: Des Moines Independent
County: Polk

Zoning: ResLOT 2 SMITHS 5TH ADDITION TO DES MOINES080/06424-000-000

Water: Public
Sewer: Public Sewer

Source: DMAAR_DM

This listing courtesy of Lora Olerich , Heartland Realty

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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