$199,999

1642 E Grand Ave Des Moines, IA 50316

Capitol East Neighborhood

Estimated payment $1,310/month

Total Views 10,688
-- Bed
3 Baths
1,768 Sq Ft
$113 Price per Sq Ft

Highlights

  • 3 Kitchens
  • Laundry Room
  • Forced Air Heating and Cooling System
  • No HOA

About This Home

Great investor opportunity with this tri-plex in east Des Moines! This property is fully occupied with Units 1 and 2 bringing $850 per month and Unit 3 bringing $750 per month. Monthly costs are between $1600-$1800. Cash Flow is great if you're looking for a side hustle!

Rental certificate in place. Open to creative financing.

Listing Agent

Bethany Cochran

Agency Iowa Listed on: 07/17/2025

Co-Listing Agent

Hannah Woods

Agency Iowa

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,661

Year Built

  • Built in 1882

Lot Details

  • 5,250 Sq Ft Lot
  • Lot Dimensions are 35x150

Parking

  • Gravel Driveway

Home Design

  • Brick Foundation
  • Asphalt Shingled Roof

Interior Spaces

  • 1,768 Sq Ft Home
  • 2-Story Property
  • Laundry Room
  • Unfinished Basement

Kitchen

  • 3 Kitchens
  • Stove

Utilities

  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 04005480000000

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Additional Features

  • Laundry Facilities
  • Gross Income $2,450

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,661

Year Built

Built in 1882

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Style: Two Story
  • Lp Amt Sq Ft: 113.12
  • Termite: Call Listing Agent
  • Year Built: 1882
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Refrigerators: 3
  • Stoves Total: 3
  • Total Bathrooms: 3.00
  • Full Bathrooms: 3
  • First Floor Full Bathrooms: 2
  • Second Floor Full Bathrooms: 1
  • Basement Description: Unfinished
  • Sq Ft Bsmt: 676
  • Kitchens: 3
  • Laundry: Yes
  • Included Items: Refrigerator, Stove
  • Living Area Sq Ft: 1768
  • Total Sq Ft: 1768

Exterior Features

  • Foundation: Brick
  • Roof: Asphalt Shingle
  • Sidewalk: 3
  • Street Feature: Concrete

Garage/Parking

  • Driveway: Gravel

Utilities

  • Sewer: City
  • Water: City
  • Air Conditioner: Central
  • Heat: Gas Forced Air

Association/Amenities

  • Amenities: Community Laundry

Condo/Co-op/Association

  • Association Fee: No
  • Manager: Yes

Schools

  • School District: Des Moines Independent

Lot Info

  • Acres: 0.1210
  • Lot S F: 5250
  • Lot Shape: Regular
  • Lot Size: 35X150
  • Assessor Parcel Number: 04005480000000
  • Zoning: RX1

Rental Info

  • Deposit: Yes
  • Landlord Tenant Utilities: Building Insurance Owner, Electric Owner, Gas Landlord, Taxes Owner, Water Tenant

Tax Info

  • Gross Taxes: 2661.03
  • Net Taxes: 2661.03

Multi Family

  • Total Units: 3

MLS Schools

  • School District: Des Moines Independent

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,030 $103,200 $8,800 $94,400
2023 $1,878 $103,200 $8,800 $94,400
2022 $1,864 $79,700 $7,100 $72,600
2021 $1,736 $79,700 $7,100 $72,600
2020 $1,804 $69,600 $6,200 $63,400
2019 $1,572 $69,600 $6,200 $63,400
2018 $1,556 $58,500 $5,200 $53,300
2017 $1,468 $58,500 $5,200 $53,300
2016 $1,430 $54,300 $4,800 $49,500
2015 $1,430 $54,300 $4,800 $49,500
2014 $1,350 $52,700 $4,800 $47,900
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/17/2025 07/17/25 For Sale $199,999 +13.6% $113 / Sq Ft
03/01/2023 03/01/23 Sold $176,000 +0.6% $72 / Sq Ft
02/03/2023 02/03/23 Pending -- -- --
01/13/2023 01/13/23 For Sale $175,000 -- $72 / Sq Ft
Source: Des Moines Area Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $176,000 --
Warranty Deed $85,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $140,800 New Conventional
Previous Owner $89,702 Future Advance Clause Open End Mortgage
Closed $35,200 No Value Available
Source: Public Records

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Source: Des Moines Area Association of REALTORS®

MLS Number: 722579

Des Moines Area Association of REALTORS®

APN: 040-05480000000

Iowa Polk County Des Moines 50316 Capitol East

1642 E Grand Ave, Des Moines, IA

This home is located at 1642 E Grand Ave, Des Moines, IA 50316 and is currently priced at $199,999, approximately $113 per square foot. This property was built in 1882. 1642 E Grand Ave is a home located in Polk County with nearby schools including Capitol View Elementary School, Hiatt Middle School, and East High School.

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Bethany Cochran
Listing Agent
Bethany Cochran
Section Image
Agency Iowa
(515) 642-3568