2707 College Avenue, Des Moines, IA 50311

$220,000
: 3
BD
: 2
BA
: 1,098
SqFt

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List Price: $220,000
Status: ACTIVE
MLS#: 744974
Year Built: 1896
Bedrooms: 3
Bathrooms: 2
Living Area: 1,098
Lot Size: 6,750
Region: Des Moines N.East

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Property Description

Looking for a cash-flowing rental with zero lease-up risk? This fully remodeled 4-bedroom, 2-bathroom home in DesMoines' desirable Northwest submarket is ready to perform from day one. Completely renovated inside in 2023, this Colonial-style home combines classic 1896 character arched detailing, solid masonry foundation, and durable metal siding with modern, move-in-ready finishes throughout. The home sits on a generous 6,750 sq ft (0.155-acre) lot with a 50' frontage, gas forced-air heat, central air, and a functional basement for storage or mechanicals. The best part for investors: the property is already tenant-occupied at $2,300/month, with the lease secured through July 2027 offering an incoming owner immediate, predictable cash flow and no vacancy gap. This home is located within the Neighborhood Finance Corporation (NFC) lending area. Eligible buyers financing through NFC may qualify for a $15,000 forgivable renovation grant, which could help offset the cost of adding a garage or other qualifying improvements after purchase. Buyer eligibility and program guidelines apply.

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