Investor opportunity! This income-producing 7-unit multifamily property offers an affordable entry point into multifamily ownership with immediate cash flow and future upside. Located in the desirable Highland Park area of Des Moines, the property features a strong rental history, current rental certificate, and separately metered utilities to help minimize owner expenses. Several units have been refreshed, and major capital improvements have already been completed, including a new roof, new sewer line, and new backflow system in 2025. Off-street parking and a detached garage provide added tenant convenience. Situated near public transportation, shopping, restaurants, and neighborhood amenities, this property continues to benefit from strong rental demand. Whether you're a first-time investor looking to build a portfolio or a seasoned investor seeking an affordable value-add asset, this property offers stable income today with additional rental growth potential tomorrow. Current rental certificate in place. Financial information available upon request.
For sale
Price cut: $10K (5/20)
$279,900
3419 1st St, Des Moines, IA 50313
5beds
3,306sqft
Multi Family
Built in 1890
-- sqft lot
$-- Zestimate®
$85/sqft
$-- HOA
What's special
Detached garageOff-street parking
- 132 days |
- 201 |
- 11 |
Zillow last checked:
Listing updated:
Listed by:
Ryan Rivera (515)554-5870,
Zealty Home Advisors,
Angela Ousley 515-988-6609,
Zealty Home Advisors
Source: DMMLS,MLS#: 735080
Originating MLS: Des Moines Area Association of REALTORS
Originating MLS: Des Moines Area Association of REALTORSLoading...
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 7
- Full bathrooms: 7
Heating
- Hot Water, Natural Gas
Cooling
- Window Unit(s)
Appliances
- Included: Refrigerator, Stove
Features
- Basement: Unfinished
Interior area
- Total structure area: 3,306
- Total interior livable area: 3,306 sqft
Property
Parking
- Total spaces: 2
- Parking features: Detached, Garage, Two Car Garage
- Garage spaces: 2
Features
- Levels: Two
- Stories: 2
Lot
- Size: 9,844 Square Feet
- Dimensions: 75 x 131
- Features: Rectangular Lot
Details
- Parcel number: 07002137000000
- Zoning: N5
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Two Story
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Roof: Asphalt,Shingle
Condition
- Year built: 1890
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Natural Gas Available, Water Available
Community & HOA
HOA
- Has HOA: No
- HOA name: Renter's Warehouse
- HOA phone: 515-528-4429
Location
- Region: Des Moines
Financial & listing details
- Price per square foot: $85/sqft
- Tax assessed value: $296,000
- Annual tax amount: $5,579
- Date on market: 2/25/2026
- Cumulative days on market: 133 days
- Listing terms: Cash,Conventional
- Tenant pays: Electricity, Gas, Water
- Electric utility on property: Yes
- Road surface type: Concrete
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 5/20/2026 | Price change | $279,900-3.4%$85/sqft |
Source:  DMMLS #735080 Report a problem | ||
| 4/9/2026 | Price change | $289,900-3.4%$88/sqft |
Source: DMMLS #735080 Report a problem | ||
| 2/25/2026 | Listed for sale | $300,000+22.9%$91/sqft |
Source: DMMLS #735080 Report a problem | ||
| 9/25/2025 | Sold | $244,200-2.3%$74/sqft |
Source: DMMLS #716291 Report a problem | ||
| 5/5/2025 | Pending sale | $249,900$76/sqft |
Source: DMMLS #716291 Report a problem | ||
| 4/24/2025 | Listed for sale | $249,900+117.3%$76/sqft |
Source: DMMLS #716291 Report a problem | ||
| 6/19/2013 | Sold | $115,000-1.7%$35/sqft |
Source: Public Record Report a problem | ||
| 11/14/2006 | Sold | $117,000-11%$35/sqft |
Source: Public Record Report a problem | ||
| 12/22/2000 | Sold | $131,500+42.9%$40/sqft |
Source: Public Record Report a problem | ||
| 8/5/1999 | Sold | $92,000$28/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,500 +2% | $296,000 +8% |
| 2024 | $5,390 +2.5% | $274,000 |
| 2023 | $5,256 -14.4% | $274,000 +22.9% |
| 2022 | $6,142 +12.4% | $223,000 |
| 2021 | $5,464 -11% | $223,000 +21.9% |
| 2020 | $6,138 +14% | $183,000 |
| 2019 | $5,382 -6% | $183,000 +20.4% |
| 2018 | $5,726 | $152,000 |
| 2017 | $5,726 +2.3% | $152,000 +10.9% |
| 2016 | $5,598 | $137,000 |
| 2015 | $5,598 -31.2% | $137,000 -24.7% |
| 2014 | $8,138 | $182,000 |
| 2013 | -- | $182,000 |
| 2012 | -- | $182,000 |
| 2011 | -- | $182,000 -11% |
| 2010 | -- | $204,500 |
| 2009 | -- | $204,500 |
| 2008 | -- | $204,500 |
| 2007 | -- | $204,500 |
| 2006 | -- | $204,500 +25.1% |
| 2005 | -- | $163,500 +9% |
| 2003 | -- | $150,000 +40.2% |
| 2002 | -- | $107,000 |
| 2001 | -- | $107,000 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Highland Park
Nearby schools
GreatSchools rating
- 2/10Findley Elementary SchoolGrades: K-6Distance: 0.3 mi
- 1/10Harding Middle SchoolGrades: 6-8Distance: 0.1 mi
- 2/10North High SchoolGrades: 9-12Distance: 0.7 mi
Schools provided by the listing agent
- District: Des Moines Independent
Source: DMMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Iowa
- Polk County
- Des Moines
- 50313
- Highland Park
- 3419 1st St
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Nearby neighborhoods
Nearby zip codes
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