1940 Arlington Ave, Des Moines, IA, 50314
About This Home
Built for cash flow and positioned for long-term upside, this 9-unit apartment building in Des Moines' historic River Bend neighborhood offers an attractive opportunity for investors seeking immediate income. The property features eight 1-bedroom units and one 2-bedroom unit and is currently fully rented aside from one unit, providing strong in-place occupancy with an opportunity to lease the remaining space. Current performance exceeds the 1% rule, making this a compelling addition to an investment portfolio. Residents enjoy a beautiful courtyard and outdoor common area, while newer concrete work at the entrance adds to the property's curb appeal and functionality. A 2-car garage and additional basement storage provide further value and operational flexibility. Conveniently located near downtown Des Moines, employment centers, transit, and neighborhood amenities, 1940 Arlington Avenue combines dependable rental income, desirable unit mix, and future potential in an established urban neighborhood.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1926
Materials
- Foundation: Block
- Construction materials: Other
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Features
- Flooring: Carpet
Heating & Cooling
- Heating features: Hot Water
- Cooling features: Window Unit(s)
Interior Area
- Total structure area: 4,858
- Total interior livable area: 4,858 sqft
Property
Details
- Parcel number: 03549001000
- Zoning: NX2
Lot
- Lot size: 0.36 Acres
Parking
- Parking features: Garage
- Has garage: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Strong Wind
- Tornado
- Hail
- Heat Wave
- Ice Storm
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters Across Iowa Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,135 | $37,620 |
| Home Insurance * | $715 | $8,580 |
| Property Taxes | $811 | $9,732 |
| Electricity | $362 | $4,348 |
| Total | $5,023 | $60,276 |
Income You'd Need if You Spent...
Iowa FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-11 | Listed for sale | $620,000 |
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