3721 Cottage Grove Ave Des Moines, IA 50311
Drake Neighborhood
--
Bed
4
Baths
3,599
Sq Ft
0.35
Acres
Highlights
- 0.35 Acre Lot
- No HOA
- Hot Water Heating System
About This Home
As of January 2023Turn Key 8 unit apartment building with solid cash flow. Great Des Moines neighborhood surrounded by a mix of single family and multi family homes. Gross rents are $3670/month. After expenses NOI is aprox $1942/month. CAP Rate at aprox 11%. Current Rental Certificate in place. This building has been easily rented when there is a vacancy with half being long term tenants. 4 tenants have been renting over 3 years with one renting for over 9 years. A large 4 car garage is also rented out and included in gross rents. If you are renting storage space now for business or personal use this might be a great opportunity to eliminate those rental expenses. This building could also be converted back to a large 3600 sq/ft single family home. This home has retained most of its orginial woodwork, character and charm.
Last Buyer's Agent
Jonathan Jensen
RE/MAX REC
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1900
Lot Details
- 0.35 Acre Lot
- Lot Dimensions are 101x150
Parking
- 4 Car Detached Garage
Home Design
- Block Foundation
- Metal Siding
Interior Spaces
- 4 Full Bathrooms
- 3,599 Sq Ft Home
- 2-Story Property
- Unfinished Basement
Utilities
- No Cooling
- Hot Water Heating System
Listing and Financial Details
- Assessor Parcel Number 09003374000000
Community Details
Overview
- No Home Owners Association
- 8 Units
Building Details
- Operating Expense $2,175
- Gross Income $3,615
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 29, 2022
Closed on
Jan 18, 2023
Sold by
Jdp Drake Llc
Bought by
Marlena Holdings Llc
Seller's Agent
Ethan Hokel
Century 21 Signature
Buyer's Agent
Darson Grantham
Keller Williams Realty GDM
List Price
$264,000
Sold Price
$235,000
Premium/Discount to List
-$29,000
-10.98%
Views
61
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$59,378
Avg. Annual Appreciation
8.36%
Original Mortgage
$188,000
Outstanding Balance
$182,715
Interest Rate
6.33%
Mortgage Type
New Conventional
Estimated Equity
$105,449
Purchase Details
Closed on
Nov 7, 2017
Sold by
Philgreen Jonathan D and Philgreen Amanda R
Bought by
Jdp Drake Llc
Purchase Details
Closed on
Nov 30, 2006
Sold by
Hirst Patti
Bought by
Little Acorn Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$174,587
Interest Rate
6.47%
Mortgage Type
Commercial
Purchase Details
Closed on
May 17, 2003
Sold by
Waters Victor R and Waters Jean S
Bought by
Schweitzer Gerald R and Schweitzer Tina M
Similar Homes in Des Moines, IA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $303,625 | -- | |
| Warranty Deed | -- | None Available | |
| Warranty Deed | $176,500 | None Available | |
| Contract Of Sale | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $188,000 | New Conventional | |
| Previous Owner | $174,587 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/01/2025 02/01/25 | Off Market | $380 | -- | -- |
| 12/30/2024 12/30/24 | For Rent | -- | -- | -- |
| 09/18/2024 09/18/24 | For Rent | $380 | 0.0% | -- |
| 01/19/2023 01/19/23 | Sold | $235,000 | 0.0% | $65 / Sq Ft |
| 01/05/2023 01/05/23 | Pending | -- | -- | -- |
| 12/08/2022 12/08/22 | Price Changed | $235,000 | -4.9% | $65 / Sq Ft |
| 10/24/2022 10/24/22 | Price Changed | $247,000 | -6.4% | $69 / Sq Ft |
| 09/29/2022 09/29/22 | For Sale | $264,000 | +25.7% | $73 / Sq Ft |
| 03/29/2017 03/29/17 | Sold | $210,000 | -4.5% | $58 / Sq Ft |
| 02/27/2017 02/27/17 | Pending | -- | -- | -- |
| 10/03/2016 10/03/16 | For Sale | $220,000 | -- | $61 / Sq Ft |
Source: Des Moines Area Association of REALTORS®
Tax History Compared to Growth
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 | $6,728 | $342,000 | $40,300 | $301,700 |
| 2023 | $6,552 | $342,000 | $40,300 | $301,700 |
| 2022 | $7,658 | $278,000 | $33,700 | $244,300 |
| 2021 | $6,808 | $278,000 | $33,700 | $244,300 |
| 2020 | $7,646 | $228,000 | $30,600 | $197,400 |
| 2019 | $6,694 | $228,000 | $30,600 | $197,400 |
| 2018 | $7,118 | $189,000 | $30,600 | $158,400 |
| 2017 | $6,702 | $189,000 | $30,600 | $158,400 |
| 2016 | $6,986 | $171,000 | $25,500 | $145,500 |
| 2015 | $6,986 | $171,000 | $25,500 | $145,500 |
| 2014 | $6,796 | $152,000 | $25,500 | $126,500 |
Source: Public Records
Agents Affiliated with this Home
-
E
Seller's Agent in 2023
Ethan Hokel
Century 21 Signature
-
D
Buyer's Agent in 2023
Darson Grantham
Keller Williams Realty GDM
-
A
Seller's Agent in 2017
Andy Lenaghan
Keller Williams Realty GDM
-
J
Buyer's Agent in 2017
Jonathan Jensen
RE/MAX REC
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 526633
APN: 090-03374000000
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