2703 College Ave, Des Moines, IA, 50311
About This Home
Don't miss this outstanding income-producing investment opportunity featuring 5 bedrooms, 2 bathrooms, a separate lot, and exceptional parking amenities. This well-maintained property is tenant occupied with a lease in place through July 2027, generating $2,500 per month in rental income, making it an ideal turnkey addition to your investment portfolio. The home underwent a complete interior remodel in 2023, including all new windows, creating an updated, modern living space while minimizing future maintenance. The roof is less than 10 years old, and the seller reports no known issues, offering added confidence for the next owner. An added bonus is 2705 College Ave, which includes a detached one-car garage along with surface parking for tenants of both 2703 and 2707, providing valuable off-street parking rarely found in the area. Whether you're a seasoned investor or looking to begin building your real estate portfolio, this property delivers immediate cash flow with long-term stability. 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.
Getting Around
Car-Dependent
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1927
Materials
- Foundation: Brick/Mortar
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence,Residential
Interior
Appliances
- Appliances included: Dishwasher,Disposal,Dryer,Microwave,Range,Refrigerator,Washer
Basement
- Has basement: Yes
- Basement: Full,Sump Pump
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 1
- 3/4 bathrooms: 2
Features
- Ceiling Fan(s)
- Flooring: Luxury Vinyl,Carpet
- Finished area below ground: 635
- Finished area above ground: 822
Heating & Cooling
- Heating features: Forced Air,Natural Gas
- Cooling features: Central Air
Interior Area
- Total structure area: 1,110
- Total interior livable area: 1,110 sqft
Property
Details
- Parcel number: 080/06424000000
- Zoning: Res
- Special condition: Standard
Lot
- Lot size: 6,969 sqft
- Lot size dimensions: 50 x 135
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
- Hail
- Heat Wave
- Strong Wind
- Tornado
- Cold 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 | $1,137 | $13,644 |
| Home Insurance * | $150 | $1,800 |
| Property Taxes | $320 | $3,840 |
| Electricity | $121 | $1,452 |
| Total | $1,728 | $20,736 |
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 | $225,000 |
| 2022-12-29 | Sold | $123,000 |
| 2022-12-12 | Pending sale | $139,900 |
| 2022-11-07 | Listed for sale | $139,900 |
| 2022-10-10 | Pending sale | $139,900 |
| 2022-10-06 | Listed for sale | $139,900 |
| 2022-08-24 | Sold | $100,000 |
| 2022-07-09 | Pending sale | $100,000 |
| 2022-07-09 | Listed for sale | $100,000 |
| 2015-11-12 | Listing removed | $69,000 |
| 2015-10-23 | Listed for sale | $69,000 |
| 2003-11-26 | Sold | $64,500 |
| 2001-10-18 | Sold | $56,500 |
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