601 N 1st St Indianola, IA 50125
Estimated payment $1,062/month
Highlights
- No HOA
- Baseboard Heating
- 4-minute walk to Moats Park
About This Home
Prime Investment Opportunity Near Simpson College & Indianola Square. This fully rented, income-producing property features two well-maintained units with steady cash flow. The main-level unit offers 2 bedrooms, 1 bath, a large kitchen, spacious living room, and basement access. The upper-level unit includes 1 bedroom, 1 bath and kitchen with plenty of storage. Both units are equipped with private entrances and in-unit laundry, a key amenity for attracting and retaining tenants. Sitting on a large lot, the property not only provides ample, private off-street parking for tenants and guests but also offers future building opportunities for additional income potential. Convenient location near Hwy 65/69, shopping, and dining ensures strong rental demand. Seller financing available, making this a flexible and accessible investment opportunity.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,053
Year Built
- Built in 1890
Lot Details
- 7,500 Sq Ft Lot
- Lot Dimensions are 50x150
Home Design
- Asphalt Shingled Roof
Interior Spaces
- 1,524 Sq Ft Home
- 2-Story Property
- Unfinished Basement
Utilities
- Window Unit Cooling System
- Baseboard Heating
Community Details
- No Home Owners Association
- 2 Units
Listing and Financial Details
- Assessor Parcel Number 48140350050
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2025 | $2,080 | $126,100 | $22,500 | $103,600 |
| 2024 | $2,052 | $114,500 | $22,500 | $92,000 |
| 2023 | $2,094 | $114,500 | $22,500 | $92,000 |
| 2022 | $2,074 | $98,300 | $22,500 | $75,800 |
| 2021 | $2,062 | $98,300 | $22,500 | $75,800 |
| 2020 | $2,062 | $92,400 | $22,500 | $69,900 |
| 2019 | $1,884 | $92,400 | $22,500 | $69,900 |
| 2018 | $826 | $0 | $0 | $0 |
| 2017 | $1,586 | $0 | $0 | $0 |
| 2016 | $1,550 | $71,500 | $0 | $0 |
| 2015 | $1,550 | $0 | $0 | $0 |
| 2014 | $1,228 | $71,600 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 12/01/2025 12/01/25 | For Sale | $169,900 | 0.0% | $111 / Sq Ft | |
| 11/26/2025 11/26/25 | Off Market | $169,900 | -- | -- | |
| 10/02/2025 10/02/25 | Price Changed | $169,900 | -2.9% | $111 / Sq Ft | |
| 07/16/2025 07/16/25 | Price Changed | $174,900 | -2.8% | $115 / Sq Ft | |
| 06/23/2025 06/23/25 | For Sale | $179,900 | 0.0% | $118 / Sq Ft | |
| 06/10/2025 06/10/25 | Pending | -- | -- | -- | |
| 06/03/2025 06/03/25 | For Sale | $179,900 | +106.8% | $118 / Sq Ft | |
| 02/07/2020 02/07/20 | Sold | $87,000 | -3.2% | $57 / Sq Ft | View Prior Sale |
| 02/07/2020 02/07/20 | Pending | -- | -- | -- | |
| 12/13/2019 12/13/19 | For Sale | $89,900 | +259.6% | $59 / Sq Ft | |
| 06/24/2016 06/24/16 | Sold | $25,000 | -58.3% | $16 / Sq Ft | View Prior Sale |
| 06/24/2016 06/24/16 | Pending | -- | -- | -- | |
| 11/20/2015 11/20/15 | For Sale | $59,900 | -- | $39 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $87,000 | None Available | |
| Warranty Deed | $25,000 | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $0 | Unknown |
Source: Des Moines Area Association of REALTORS®
MLS Number: 719413
APN: 48140350050
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