$2636 per month Gross rent. Currently 2 long term leases and 1 furnished short term rental. This is a prime rental property in a sought-after Des Moines neighborhood just west of the Drake University Campus. The property comes with a renewed rental license. A new roof was installed in 2021, providing peace of mind for years to come. Unit 1 and Unit 2 have had updates in the past 2 years.
This property is in a high-demand rental area, with proximity to local amenities, schools, and public transportation. Whether you're looking to add to your existing investment cash flowing portfolio or step into the Des Moines rental market for the first time, this location offers excellent cash flow potential with minimal maintenance concerns due to recent updates. (Neighboring property 3903 University is also for sale, would consider a discount if sold together)
Pending
$210,000
1206 39th St, Des Moines, IA 50311
4beds
1,964sqft
Est.:
Multi Family
Built in 1918
-- sqft lot
$-- Zestimate®
$107/sqft
$-- HOA
What's special
- 12 days |
- 54 |
- 1 |
Zillow last checked: 8 hours ago
Listing updated: December 08, 2025 at 04:32pm
Listed by:
Darson Grantham (641)745-0156,
Keller Williams Realty GDM
Source: DMMLS,MLS#: 722298
Originating MLS: Des Moines Area Association of REALTORS
Originating MLS: Des Moines Area Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Baseboard, Electric
Cooling
- Window Unit(s)
Appliances
- Included: Built-In Oven, Refrigerator
Features
- Basement: Unfinished
Interior area
- Total structure area: 1,964
- Total interior livable area: 1,964 sqft
Property
Features
- Levels: One and One Half
- Stories: 1.5
Lot
- Size: 3,702.6 Square Feet
Details
- Parcel number: 792432377049
- Zoning: NX1
Construction
Type & style
- Home type: MultiFamily
- Architectural style: One and One Half Story
- Property subtype: Multi Family
Materials
- Asbestos
- Foundation: Brick/Mortar
- Roof: Asphalt,Shingle
Condition
- Year built: 1918
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Water Available
Community & HOA
HOA
- Has HOA: No
Location
- Region: Des Moines
Financial & listing details
- Price per square foot: $107/sqft
- Tax assessed value: $162,000
- Annual tax amount: $3,303
- Date on market: 7/24/2025
- Cumulative days on market: 146 days
- Listing terms: Cash,Conventional
- Tenant pays: Electricity
- Electric utility on property: Yes
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/9/2025 | Pending sale | $210,000$107/sqft |
Source:  DMMLS #722298 Report a problem | ||
| 8/26/2025 | Price change | $210,000-4.5%$107/sqft |
Source: DMMLS #722298 Report a problem | ||
| 8/14/2025 | Price change | $220,000-2.2%$112/sqft |
Source: DMMLS #722298 Report a problem | ||
| 7/24/2025 | Listed for sale | $225,000$115/sqft |
Source: DMMLS #722298 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,186 +2.4% | $162,000 |
| 2023 | $3,110 -14.5% | $162,000 +22.7% |
| 2022 | $3,636 +12.8% | $132,000 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$1,170/mo
Principal & interest
$814
Property taxes
$282
Home insurance
$74
Climate risks
Neighborhood: Drake
Nearby schools
GreatSchools rating
- 6/10Perkins Elementary SchoolGrades: K-5Distance: 0.6 mi
- 5/10Merrill Middle SchoolGrades: 6-8Distance: 1.6 mi
- 4/10Roosevelt High SchoolGrades: 9-12Distance: 0.6 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.
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