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Generate $36,754 NOI from day one with a roadmap to drive NOI over $50,800 via a full short-term rental conversion. Positioned blocks from Drake University, this cash-flowing 6-unit asset is ideal for an investor looking to maximize cash flow and utilize the STR tax loophole. As detailed in the attached proforma, the property currently operates on a hybrid model (2 STRs, 4 long-term rentals) producing an Effective Gross Income of $75,727.71. Converting the remaining 4 units to STRs unlocks massive forced appreciation, pushing estimated valuation up to $726,034 (7.0% baseline cap rate) or $781,883 (6.5% cap rate). The building features updated 1-bed/1-bath units with neutral paint, wood-look flooring, white kitchens, and refreshed baths. Each unit offers separate living and dining areas, spacious bedrooms, and abundant light. Guests and tenants enjoy shared basement laundry, extra storage, a grassy side yard, and a shaded back area. With proximity to Drake Park, campus amenities, University Ave shops, and quick I-235 access, this is a turnkey, high-demand asset.

6 Beds ⋅ 6 Baths ⋅ 750308 MLS

Generate $36,754 NOI from day one with a roadmap to drive NOI over $50,800 via a full short-term rental conversion. Positioned blocks from Drake University, this cash-flowing 6-unit asset is ideal for an investor looking to maximize cash flow and utilize the STR tax loophole. As detailed in the attached proforma, the property currently operates on a hybrid model (2 STRs, 4 long-term rentals) producing an Effective Gross Income of $75,727.71. Converting the remaining 4 units to STRs unlocks massive forced appreciation, pushing estimated valuation up to $726,034 (7.0% baseline cap rate) or $781,883 (6.5% cap rate). The building features updated 1-bed/1-bath units with neutral paint, wood-look flooring, white kitchens, and refreshed baths. Each unit offers separate living and dining areas, spacious bedrooms, and abundant light. Guests and tenants enjoy shared basement laundry, extra storage, a grassy side yard, and a shaded back area. With proximity to Drake Park, campus amenities, University Ave shops, and quick I-235 access, this is a turnkey, high-demand asset.

2600 Cottage Grove Avenue, Des Moines

$1,000,000

When you see the beautiful woodwork and ornamental pressed concrete ceilings on the main floor of this home- it will take your breath away! Known as The Butler House on Grand, this iconic Arts & Crafts Tudor offers a rare blend of historic elegance, architectural character and modern comfort. Originally constructed with steel and concrete, this impressive three-story residence with a finished basement showcases exceptional craftsmanship, enduring quality and distinctive design. Located directly across from the Art Center, this remarkable home features nearly 5,700 finished square footage with 7 bedrooms & 9 bathrooms (six of which are en suite). The second & third floors include kitchenettes, providing added flexibility for family living, multigenerational arrangements or hosting overnight guests. Recent improvements include a new high-efficiency boiler, water heaters, updated gutters, a new fireplace, fire escapes, a replaced front patio, fully updated basement, kitchen, bedrooms and bathrooms. Rich in history and architectural charm, this home offers the space, character and comfort to create a truly one-of-a-kind home. Whether you're looking for an extraordinary primary residence, a spacious home for a large household or a property with room to accommodate extended family & guests, this historic gem offers possibilities rarely found in today's market. Call today for additional details or to schedule your private tour. View the property video https://youtu.be/tOQBBSN_FME.

7 Beds ⋅ 9 Baths ⋅ 751082 MLS

When you see the beautiful woodwork and ornamental pressed concrete ceilings on the main floor of this home- it will take your breath away! Known as The Butler House on Grand, this iconic Arts & Crafts Tudor offers a rare blend of historic elegance, architectural character and modern comfort. Originally constructed with steel and concrete, this impressive three-story residence with a finished basement showcases exceptional craftsmanship, enduring quality and distinctive design. Located directly across from the Art Center, this remarkable home features nearly 5,700 finished square footage with 7 bedrooms & 9 bathrooms (six of which are en suite). The second & third floors include kitchenettes, providing added flexibility for family living, multigenerational arrangements or hosting overnight guests. Recent improvements include a new high-efficiency boiler, water heaters, updated gutters, a new fireplace, fire escapes, a replaced front patio, fully updated basement, kitchen, bedrooms and bathrooms. Rich in history and architectural charm, this home offers the space, character and comfort to create a truly one-of-a-kind home. Whether you're looking for an extraordinary primary residence, a spacious home for a large household or a property with room to accommodate extended family & guests, this historic gem offers possibilities rarely found in today's market. Call today for additional details or to schedule your private tour. View the property video https://youtu.be/tOQBBSN_FME.

4507 Grand Avenue, Des Moines

$1,750,000

A rare opportunity to own the first home built in the Waterbury neighborhood, originally constructed for Frank Waterbury. This 7-bedroom, 5-bath home offers scale and versatility that's hard to find, anchored by an attached 4-car garage - a standout feature in this historic pocket of Des Moines. The upscale kitchen includes a full pantry and a mudroom off the garage, while the family room's warm, lodge-like feel makes it hard to leave. The primary suite feels like a true retreat, and each of the remaining 5 bedrooms holds its own in size and function. Enjoy the outside with its mature trees and established landscaping, along with a composite deck and a newly fenced yard. The home's original character has been carefully preserved, while the costly work is already done: new Pella windows and doors, a new roof, refinished hardwood floors, and updated bathrooms, among many other upgrades. A full list is available upon request. See this Des Moines gem in person - schedule your showing today.

7 Beds ⋅ 5 Baths ⋅ 749588 MLS

A rare opportunity to own the first home built in the Waterbury neighborhood, originally constructed for Frank Waterbury. This 7-bedroom, 5-bath home offers scale and versatility that's hard to find, anchored by an attached 4-car garage - a standout feature in this historic pocket of Des Moines. The upscale kitchen includes a full pantry and a mudroom off the garage, while the family room's warm, lodge-like feel makes it hard to leave. The primary suite feels like a true retreat, and each of the remaining 5 bedrooms holds its own in size and function. Enjoy the outside with its mature trees and established landscaping, along with a composite deck and a newly fenced yard. The home's original character has been carefully preserved, while the costly work is already done: new Pella windows and doors, a new roof, refinished hardwood floors, and updated bathrooms, among many other upgrades. A full list is available upon request. See this Des Moines gem in person - schedule your showing today.

607 Country Club Boulevard, Des Moines

$130,000

Calling all Investors! Great investment opportunity on the West end of the Drake area. A lot of Invest DSM projects in the area doing a great job on renovating the neighborhood. Selling AS-IS All information obtained from seller and public record.

3 Beds ⋅ 2 Baths ⋅ 747667 MLS

Calling all Investors! Great investment opportunity on the West end of the Drake area. A lot of Invest DSM projects in the area doing a great job on renovating the neighborhood. Selling AS-IS All information obtained from seller and public record.

1144 35th Street, Des Moines

$360,000

Rare investment opportunity grossing $4,140 per month in the highly desirable Kingman neighborhood of Des Moines. A 5 unit property with assigned off street parking for each unit. Additionally there is a detached car garage for further potential rental income. The units have been well updated, including 200 amp service metered to each unit, fresh paint, carpet, and the majority of the hardwood flooring being refinished. Current rental rates are: Unit 1 (occupied 8/01) $1200. Unit 2 (occupied) $815 Unit 3 (Occupied) $695. Unit 4 (occupied) $835. Unit 5 (occupied) $595. This is a perfect combination of a well maintained and highly marketable rental property that still has room for future revenue enhancing improvements.

6 Beds ⋅ 5 Baths ⋅ 740269 MLS

Rare investment opportunity grossing $4,140 per month in the highly desirable Kingman neighborhood of Des Moines. A 5 unit property with assigned off street parking for each unit. Additionally there is a detached car garage for further potential rental income. The units have been well updated, including 200 amp service metered to each unit, fresh paint, carpet, and the majority of the hardwood flooring being refinished. Current rental rates are: Unit 1 (occupied 8/01) $1200. Unit 2 (occupied) $815 Unit 3 (Occupied) $695. Unit 4 (occupied) $835. Unit 5 (occupied) $595. This is a perfect combination of a well maintained and highly marketable rental property that still has room for future revenue enhancing improvements.

2931 Kingman Boulevard, Des Moines

$325,000

Step into something special at 1147 36th St. in Des Moines’ vibrant Drake Neighborhood. This American Foursquare-style home offers 5 bedrooms, 3.5 bathrooms, and over 2,600 square feet of finished space across four levels, blending original character, flexible living options, and incredible potential. The main floor features a welcoming foyer, spacious living room, dining area, eat-in kitchen, main-level bedroom, half bath, and laundry. Upstairs, you’ll find three spacious bedrooms, including a primary suite with ensuite bath and large walk-in closet. The finished attic adds even more usable space and could serve as a potential 6th bedroom, home office, playroom, art studio, den, or retreat. The basement has its own private entrance and offers possibilities as an in-law suite, guest quarters, or potential 1-bedroom rental setup with living space, full bath, galley kitchen, and laundry. Previously used as a vacation rental and once home to a long-running small business, this Drake-area property offers rare flexibility. Outside, enjoy a fenced backyard, garden potential, front and rear off-street parking, and possible future garage space. Eligible for both Neighborhood Finance Corporation and Invest DSM program funds, this home adds opportunity for qualified buyers. Near Drake University, shops, restaurants, services, and interstate access, 1147 36th St. is character-filled and ready for its next chapter.

5 Beds ⋅ 4 Baths ⋅ 739689 MLS

Step into something special at 1147 36th St. in Des Moines’ vibrant Drake Neighborhood. This American Foursquare-style home offers 5 bedrooms, 3.5 bathrooms, and over 2,600 square feet of finished space across four levels, blending original character, flexible living options, and incredible potential. The main floor features a welcoming foyer, spacious living room, dining area, eat-in kitchen, main-level bedroom, half bath, and laundry. Upstairs, you’ll find three spacious bedrooms, including a primary suite with ensuite bath and large walk-in closet. The finished attic adds even more usable space and could serve as a potential 6th bedroom, home office, playroom, art studio, den, or retreat. The basement has its own private entrance and offers possibilities as an in-law suite, guest quarters, or potential 1-bedroom rental setup with living space, full bath, galley kitchen, and laundry. Previously used as a vacation rental and once home to a long-running small business, this Drake-area property offers rare flexibility. Outside, enjoy a fenced backyard, garden potential, front and rear off-street parking, and possible future garage space. Eligible for both Neighborhood Finance Corporation and Invest DSM program funds, this home adds opportunity for qualified buyers. Near Drake University, shops, restaurants, services, and interstate access, 1147 36th St. is character-filled and ready for its next chapter.

1147 36th Street, Des Moines

$412,950

Step into this beautifully updated South of Grand home! Enjoy a perfect blend of modern comforts and a prime location, offering a relaxed, easy-living lifestyle. Featuring an all-new kitchen and bathrooms, plus a brand-new roof, windows, fixtures, flooring, and fresh paint throughout. Conveniently located for a quick commute anywhere in the metro area.

4 Beds ⋅ 3 Baths ⋅ 739318 MLS

Step into this beautifully updated South of Grand home! Enjoy a perfect blend of modern comforts and a prime location, offering a relaxed, easy-living lifestyle. Featuring an all-new kitchen and bathrooms, plus a brand-new roof, windows, fixtures, flooring, and fresh paint throughout. Conveniently located for a quick commute anywhere in the metro area.

415 42nd Street, Des Moines

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