Matt Greene

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3419 1st StreetDes Moines, IA 50313

Multi-Family · 5 Beds · 7 Full Baths · 3,306 Sq. ft. | 0.23 Acres
$279,900 Active

3419 1st Street Overview

Time on Site:
125 days
Visits:
19

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.

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3419 1st Street Facts & Features

  • Type Multi-Family
  • Sq. ft. 3,306
  • Price/Sq.ft. $85
  • Lot 0.23 Acres

Details

General

Association/HOA

  • Association Name 2: Renter's Warehouse
  • Association: false

School Information

  • School District: Des Moines Independent

Building Information

  • Year Built: 1890

Location/Region

  • County Or Parish: Polk
  • MLS Area Major: Des Moines N.East
  • Postal City: Des Moines

Rent/Lease Information

  • Lease Considered: false
  • Tenant Pays: Electricity,Gas,Water

Tax Information

  • Tax Annual Amount: 5579.0
  • Tax Year: 2026

General Information

  • Furnished: Unfurnished
  • Listing Terms: Cash,Conventional
  • Parcel Number: 07002137000000
  • Property Type: Multi Family
  • Zoning: N5

Interior

Parking Information

  • Garage Spaces: 2.0
  • Garage: true

Beds/Baths

  • Bathrooms Full: 7
  • Bathrooms Half: 0
  • Bathrooms Three Quarter: 0
  • Bathrooms Total: 7
  • Bedrooms Total: 5

Building Interior

  • Building Area Total: 3306.0

General Information

  • Appliances: Refrigerator,Stove
  • Levels: Two
  • Living Area: 3306.0
  • Stories: 2

Exterior

Parking Information

  • Parking Features: Detached,Garage,Two Car Garage

Lot Information

  • Lot Features: Rectangular Lot
  • Lot Size Acres: 0.226
  • Lot Size Area: 0.226
  • Lot Size Dimensions: 75X131
  • Lot Size Square Feet: 9825.0
  • Lot Size Units: Acres
  • Road Surface Type: Concrete
  • Water Source: Public

Building Exterior/Construction

  • Architectural Style: Two Story
  • Attached Garage: false
  • Construction Materials: Vinyl Siding
  • Roof: Asphalt,Shingle

General Information

  • Number Of Units Total: 7
  • Sewer: Public Sewer
  • Utilities: Electricity Available,Natural Gas Available,Water Available

3419 1st Street Neighborhood

Community

50313 (Des Moines) Demographics

37
Median Age
1,049
Population Density (per sq. mile)
25%
College Educated
$54,387
Estimated Median Income
5,103
Estimated Total Home Owners
1,797
Estimated Total Renters
74% / 26%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

3419 1st Street Monthly Cost

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$ %
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$
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

3419 1st Street Market Data

Based on the last 30 days in this zip code

$209,904
Average List Price
$176
Average Price per Square Foot
31
Properties Sold
102
Average Days on Market
117
Properties for Sale
Calculations provided by Reliance Network

3419 1st Street History

Date Event Value Agent
5/20/2026Source: Des Moines Area Price Reduction
$279,900 -3.4%
4/9/2026Source: Des Moines Area Price Reduction
$289,900 -3.4%
2/25/2026Source: Des Moines Area Added to Database
February 25, 2026
10/14/2025Source: Des Moines Area Status Change
Closed
5/5/2025Source: Des Moines Area Status Change
Pending
4/24/2025Source: Des Moines Area Added to Database
April 24, 2025
Listing provided courtesy of Zealty Home Advisors- MLS# 735080MLS ProviderContact Information: (515) 554-5870