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.
Sold for $145,000
Street View
$145,000
601 N 1st St, Indianola, IA 50125
4beds
1,524sqft
Multi Family
Built in 1890
-- sqft lot
$142,500 Zestimate®
$95/sqft
$1,345 Estimated rent
Home value
$142,500
$127,000 - $161,000
$1,345/mo
Zestimate® history
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$794/mo
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Private entrancesAmple private off-street parkingIn-unit laundryBasement accessLarge kitchenLarge lot
Zillow last checked:
Listing updated:
Listed by:
Misty Darling (515)962-5555,
BH&G Real Estate Innovations
Bought with:
Darson Grantham
Keller Williams Realty GDM
Source: DMMLS,MLS#: 719413
Originating MLS: Des Moines Area Association of REALTORS
Originating MLS: Des Moines Area Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Baseboard, Electric
Cooling
- Window Unit(s)
Features
- Basement: Unfinished
Interior area
- Total structure area: 1,524
- Total interior livable area: 1,524 sqft
- Finished area below ground: 0
Property
Features
- Levels: Two
- Stories: 2
Lot
- Size: 7,405 Square Feet
- Dimensions: 50 x 150
Details
- Parcel number: 48140350050
- Zoning: R-2
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Two Story
- Property subtype: Multi Family
Materials
- Roof: Asphalt,Shingle
Condition
- Year built: 1890
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Indianola
Financial & listing details
- Price per square foot: $95/sqft
- Tax assessed value: $126,100
- Annual tax amount: $2,053
- Date on market: 6/3/2025
- Cumulative days on market: 171 days
- Listing terms: Cash,Conventional,FHA,USDA Loan,VA Loan
- Road surface type: Concrete
Price history
| Date | Event | Price |
|---|---|---|
| 1/16/2026 | Sold | $145,000-14.7%$95/sqft |
Source:  DMMLS #719413 Report a problem | ||
| 12/10/2025 | Pending sale | $169,900$111/sqft |
Source: DMMLS #719413 Report a problem | ||
| 10/3/2025 | Price change | $169,900-2.9%$111/sqft |
Source: DMMLS #719413 Report a problem | ||
| 7/16/2025 | Price change | $174,900-2.8%$115/sqft |
Source: DMMLS #719413 Report a problem | ||
| 6/23/2025 | Listed for sale | $179,900$118/sqft |
Source: DMMLS #719413 Report a problem | ||
| 6/13/2025 | Pending sale | $179,900$118/sqft |
Source: DMMLS #719413 Report a problem | ||
| 6/13/2025 | Listing removed | $179,900$118/sqft |
Source: DMMLS #719413 Report a problem | ||
| 6/10/2025 | Pending sale | $179,900$118/sqft |
Source: DMMLS #719413 Report a problem | ||
| 6/3/2025 | Listed for sale | $179,900+5.9%$118/sqft |
Source: DMMLS #719413 Report a problem | ||
| 6/20/2022 | Listing removed | -- |
Source:  RE/MAX Central Report a problem | ||
| 6/7/2022 | Price change | $169,900-5.6%$111/sqft |
Source: DMMLS #652196 Report a problem | ||
| 4/21/2022 | Listed for sale | $179,900+2.8%$118/sqft |
Source: DMMLS #650225 Report a problem | ||
| 4/11/2022 | Listing removed | -- |
Source: Owner Report a problem | ||
| 3/29/2022 | Price change | $175,000-5.4%$115/sqft |
Source: Owner Report a problem | ||
| 3/9/2022 | Listed for sale | $185,000+112.6%$121/sqft |
Source: Owner Report a problem | ||
| 2/7/2020 | Sold | $87,000-3.2%$57/sqft |
Source: DMMLS #596174 Report a problem | ||
| 12/23/2019 | Pending sale | $89,900$59/sqft |
Source: Iowa Realty #596174 Report a problem | ||
| 12/14/2019 | Listed for sale | $89,900+259.6%$59/sqft |
Source: Iowa Realty #596174 Report a problem | ||
| 6/24/2016 | Sold | $25,000-35.7%$16/sqft |
Source: DMMLS #508206 Report a problem | ||
| 5/25/2016 | Pending sale | $38,900$26/sqft |
Source: RE/MAX INNOVATIONS #508206 Report a problem | ||
| 4/8/2016 | Price change | $38,900-15.4%$26/sqft |
Source: RE/MAX INNOVATIONS #508206 Report a problem | ||
| 2/17/2016 | Price change | $46,000-17.1%$30/sqft |
Source: RE/MAX INNOVATIONS #508206 Report a problem | ||
| 12/31/2015 | Price change | $55,500-7.3%$36/sqft |
Source: RE/MAX INNOVATIONS #508206 Report a problem | ||
| 11/21/2015 | Listed for sale | $59,900$39/sqft |
Source: RE/MAX INNOVATIONS #508206 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,080 +1.4% | $126,100 +10.1% |
| 2024 | $2,052 -2% | $114,500 |
| 2023 | $2,094 +1% | $114,500 +16.5% |
| 2022 | $2,074 +0.6% | $98,300 |
| 2021 | $2,062 +1.9% | $98,300 +6.4% |
| 2020 | $2,024 +7.4% | $92,400 |
| 2019 | $1,884 +18.8% | $92,400 +10.9% |
| 2018 | $1,587 +92.1% | $83,300 |
| 2017 | $826 -46.7% | -- |
| 2016 | $1,550 | $71,500 |
| 2015 | $1,550 | -- |
| 2014 | $1,550 +60.8% | $71,600 |
| 2013 | $964 +16.4% | -- |
| 2012 | $828 -25.4% | -- |
| 2011 | $1,110 +59.9% | -- |
| 2010 | $694 -37.4% | -- |
| 2009 | $1,108 +57.4% | -- |
| 2008 | $704 -31.1% | -- |
| 2007 | $1,022 | -- |
Find assessor info on the county website
Neighborhood: 50125
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Nearby schools
GreatSchools rating
- 7/10Whittier Elementary SchoolGrades: PK-5Distance: 1 mi
- 6/10Indianola Middle SchoolGrades: 6-8Distance: 1.2 mi
- 9/10Indianola High SchoolGrades: 9-12Distance: 1 mi
Schools provided by the listing agent
- District: Indianola
Source: DMMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Iowa
- Warren County
- Indianola
- 50125
- 601 N 1st St
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