686 34th St

Own a Des Moines 3-unit with $15,000 proposed down and seller financing. Two apartments already produce scheduled rent, and the larger owner unit is furnished, so you can live in one and rent two or evaluate renting all three. Price: $310,000 Proposed down payment: $15,000 Proposed financed balance: $295,000 Estimated principal and interest: $2,426.89/month at 9.25% with 30-year amortization Current scheduled collections are $2,015/month. The upstairs 1-bedroom pays $1,160/month including charges on a month-to-month basis. The studio pays $855/month including charges under a lease through September 30, 2026. The furnished owner unit has one bedroom plus a nonconforming second bedroom/office/bonus room. Its estimated long-term rent is $1,200/month. If all three units are rented long-term, potential gross scheduled collections are $3,215/month, or $38,580/year, before vacancy and expenses. The property is approximately 1,993 square feet with three separate units, updated kitchens and bathrooms, laundry, off-street parking and private deck access. It is near Ingersoll Avenue, dining, shopping and downtown Des Moines, within the North of Grand/Woodland Heights Special Investment District. Contact me directly for the full buyer packet, rent roll, financing details, or a showing.

686 34th St, Des Moines, IA, 50312 · Open in Google Maps

Seller notes

Taxes, insurance, utilities, closing costs and other charges are additional. Buyer qualification, any maturity or balloon provisions, final documentation and required lender approval apply. Closing is available October 1, 2026, or earlier. The furnished unit includes the main furniture and appliances shown in the photos; final included inventory will be confirmed in writing. Invest DSM's Rental Rehab Program may cover up to 30% of qualifying improvement costs for eligible properties with 10 or fewer units. Participation, funding, project eligibility and affordability requirements are subject to Invest DSM approval; no award is guaranteed.