3419 1st St Des Moines, IA 50313
Highland Park NeighborhoodEstimated payment $1,990/month
Highlights
- 7 Kitchens
- No HOA
- Hot Water Heating System
About This Home
Investor opportunity! This income-producing 7-unit multifamily property offers an affordable entry point into multifamily ownership with immediate cash flow and future upside. Located in the desirable Highland Park area of Des Moines, the property features a strong rental history, current rental certificate, and separately metered utilities to help minimize owner expenses. Several units have been refreshed, and major capital improvements have already been completed, including a new roof, new sewer line, and new backflow system in 2025. Off-street parking and a detached garage provide added tenant convenience. Situated near public transportation, shopping, restaurants, and neighborhood amenities, this property continues to benefit from strong rental demand. Whether you're a first-time investor looking to build a portfolio or a seasoned investor seeking an affordable value-add asset, this property offers stable income today with additional rental growth potential tomorrow. Current rental certificate in place. Financial information available upon request.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,579
Year Built
- Built in 1890
Lot Details
- 9,825 Sq Ft Lot
- Lot Dimensions are 75x131
Home Design
- Asphalt Shingled Roof
- Vinyl Siding
Interior Spaces
- 3,306 Sq Ft Home
- 2-Story Property
- Unfinished Basement
Kitchen
- 7 Kitchens
- Stove
Parking
- 2 Car Detached Garage
- Driveway
Utilities
- Window Unit Cooling System
- Hot Water Heating System
Community Details
- No Home Owners Association
- 7 Units
- Renter's Warehouse Association, Phone Number (515) 528-4429
Listing and Financial Details
- Assessor Parcel Number 07002137000000
Map
Home Values in the Area
Average Home Value in this Area
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 | $5,390 | $296,000 | $28,300 | $267,700 |
| 2024 | $5,390 | $274,000 | $24,800 | $249,200 |
| 2023 | $5,256 | $274,000 | $24,800 | $249,200 |
| 2022 | $6,142 | $223,000 | $20,800 | $202,200 |
| 2021 | $5,464 | $223,000 | $20,800 | $202,200 |
| 2020 | $6,138 | $183,000 | $18,900 | $164,100 |
| 2019 | $5,382 | $183,000 | $18,900 | $164,100 |
| 2018 | $5,726 | $152,000 | $18,900 | $133,100 |
| 2017 | $5,368 | $152,000 | $18,900 | $133,100 |
| 2016 | $5,598 | $137,000 | $15,500 | $121,500 |
| 2015 | $5,598 | $137,000 | $15,500 | $121,500 |
| 2014 | $8,138 | $182,000 | $15,500 | $166,500 |
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 |
|---|---|---|---|---|---|
| 07/21/2026 07/21/26 | Pending | -- | -- | -- | |
| 05/20/2026 05/20/26 | Price Changed | $279,900 | -3.4% | $85 / Sq Ft | |
| 04/09/2026 04/09/26 | Price Changed | $289,900 | -3.4% | $88 / Sq Ft | |
| 02/25/2026 02/25/26 | For Sale | $300,000 | +22.9% | $91 / Sq Ft | |
| 09/25/2025 09/25/25 | Sold | $244,200 | -2.3% | $74 / Sq Ft | View Prior Sale |
| 05/05/2025 05/05/25 | Pending | -- | -- | -- | |
| 04/24/2025 04/24/25 | For Sale | $249,900 | -- | $76 / Sq Ft |
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 | $244,500 | None Listed On Document | |
| Warranty Deed | $115,000 | None Available | |
| Corporate Deed | $117,000 | None Available | |
| Warranty Deed | $131,500 | -- | |
| Warranty Deed | $91,500 | -- | |
| Contract Of Sale | $92,000 | -- |
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 | $250,000 | New Conventional | |
| Previous Owner | $119,250 | Credit Line Revolving |
Source: Des Moines Area Association of REALTORS®
MLS Number: 735080
APN: 070-02137000000
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