2707 College Avenue, Des Moines, IA 50311

• 3 beds |
• 2 baths |
• 1,098 sqft

Property Description

Looking for a cash-flowing rental with zero lease-up risk? This fully remodeled 4-bedroom, 2-bathroom home in DesMoines' desirable Northwest submarket is ready to perform from day one. Completely renovated inside in 2023, this Colonial-style home combines classic 1896 character arched detailing, solid masonry foundation, and durable metal siding with modern, move-in-ready finishes throughout. The home sits on a generous 6,750 sq ft (0.155-acre) lot with a 50' frontage, gas forced-air heat, central air, and a functional basement for storage or mechanicals. The best part for investors: the property is already tenant-occupied at $2,300/month, with the lease secured through July 2027 offering an incoming owner immediate, predictable cash flow and no vacancy gap. 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:

744974

Interior

• Appliances: DryerDishwasherMicrowaveRefrigeratorStoveWasher
• Laundry: Main Level
• Basement: Partially Finished
• A/C: Central Air
• Heating: Forced AirGasNatural Gas

Exterior

• Style: Cape CodOne and One Half Story

Construction

• Roofing: AsphaltShingle
• General: Metal SidingOne and One HalfBrick/Mortar

Location

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

Lot

• Zoning: ResLOT 4 SMITHS 5TH ADDITION TO DES MOINES080/06426-000-000

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: DMAAR_DM