Seller's Agent in 2026
Jake Escher
RE/MAX
(515) 298-2900
1 in this area
215 Total Sales
2936 E Walnut St Des Moines, IA 50317
Fairground Neighborhood
Studio
--
Bath
2,224
Sq Ft
0.27
Acres Lot
Highlights
- No HOA
- Forced Air Heating System
- Asbestos
About This Home
As of March 2026Here’s a great opportunity to own a 5-unit property just steps from the Iowa State Fairgrounds — a setup that doesn’t come along often. You’ll find a 4-plex plus a detached single-family home on one lot, giving you multiple income streams and plenty of flexibility. The property currently brings in $3,750/month in rent (units at $650, $650, $650, $850, and $950). The two upstairs units are long-term tenants, while the others offer room for rent increases or improvements over time. The landlord currently pays all utilities, providing a value-add opportunity for a new owner to transition to tenant-paid utilities and boost cash flow. There’s also tons of off-street parking, including extra income during the State Fair when parking demand goes up. If you’ve been looking for an affordable multifamily property with strong numbers and even stronger potential, this is it.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1924
Lot Details
- 11,973 Sq Ft Lot
Home Design
- Brick Foundation
- Asphalt Shingled Roof
- Asbestos
Interior Spaces
- 2,224 Sq Ft Home
- 2-Story Property
- Partially Finished Basement
Parking
- Carport
- Gravel Driveway
Utilities
- Window Unit Cooling System
- Forced Air Heating System
Community Details
- No Home Owners Association
- Gross Income $3,750
Listing and Financial Details
- Assessor Parcel Number 05000800001000
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 17, 2024
Closed on
Aug 26, 2024
Sold by
Bought by
Seller's Agent
Joel Conner
Realty ONE Group Impact
Buyer's Agent
Jeff Swehla
RE/MAX Precision
List Price
$210,000
Sold Price
$215,000
Premium/Discount to List
$5,000
2.38%
Views
8
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-1.06%
Original Mortgage
$215,000
Outstanding Balance
$211,517
Interest Rate
6.77%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$517
Purchase Details
Listed on
Jul 17, 2024
Closed on
Jul 2, 2024
Sold by
Bought by
Seller's Agent
Joel Conner
Realty ONE Group Impact
Buyer's Agent
Jeff Swehla
RE/MAX Precision
List Price
$210,000
Sold Price
$215,000
Premium/Discount to List
$5,000
2.38%
Views
8
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,000
Outstanding Balance
$211,517
Interest Rate
6.77%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$517
Purchase Details
Closed on
May 15, 2007
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
6.21%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 30, 2001
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
10%
Mortgage Type
Seller Take Back
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $215,000 | None Listed On Document | |
| Warranty Deed | $171,000 | None Listed On Document | |
| Warranty Deed | $94,500 | Itc | |
| Contract Of Sale | $95,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $215,000 | Credit Line Revolving | |
| Previous Owner | $80,000 | Commercial | |
| Previous Owner | $75,000 | Seller Take Back |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/13/2026 03/13/26 | Sold | $215,000 | -4.4% | $97 / Sq Ft | |
| 12/31/2025 12/31/25 | Pending | -- | -- | -- | |
| 11/04/2025 11/04/25 | For Sale | $225,000 | +4.7% | $101 / Sq Ft | |
| 08/27/2024 08/27/24 | Sold | $215,000 | +2.4% | $97 / Sq Ft | View Prior Sale |
| 07/28/2024 07/28/24 | Pending | -- | -- | -- | |
| 07/17/2024 07/17/24 | For Sale | $210,000 | -- | $94 / Sq Ft |
Source: Des Moines Area Association of REALTORS®
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2025 | $5,548 | $305,000 | $34,400 | $270,600 |
| 2024 | $5,548 | $282,000 | $30,200 | $251,800 |
| 2023 | $5,398 | $282,000 | $30,200 | $251,800 |
| 2022 | $6,308 | $229,000 | $25,300 | $203,700 |
| 2021 | $5,614 | $229,000 | $25,300 | $203,700 |
| 2020 | $6,306 | $188,000 | $23,000 | $165,000 |
| 2019 | $5,524 | $188,000 | $23,000 | $165,000 |
| 2018 | $5,876 | $156,000 | $23,000 | $133,000 |
| 2017 | $5,526 | $156,000 | $23,000 | $133,000 |
| 2016 | $5,762 | $141,000 | $19,000 | $122,000 |
| 2015 | $5,762 | $141,000 | $19,000 | $122,000 |
| 2014 | $5,590 | $125,000 | $19,000 | $106,000 |
Source: Public Records
Agents Affiliated with this Home
-
Jake Escher
-
Jayce Schorn-Pedro
Seller Co-Listing Agent in 2026
Jayce Schorn-Pedro
RE/MAX
(515) 451-0347
1 in this area
212 Total Sales
-
Abigail Brenizer
Buyer's Agent in 2026
Abigail Brenizer
RE/MAX
2 in this area
70 Total Sales
-
Brian Brenizer
B
Buyer Co-Listing Agent in 2026
Brian Brenizer
RE/MAX
2 in this area
30 Total Sales
-
Joel Conner
Seller's Agent in 2024
Joel Conner
Realty ONE Group Impact
(515) 205-6388
2 in this area
48 Total Sales
-
Jeff Swehla
J
Buyer's Agent in 2024
Jeff Swehla
RE/MAX
(515) 344-1134
2 in this area
61 Total Sales
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 729659
APN: 050-00800001000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
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