Excellent investment opportunity near Simpson College and Indianola Square! This income-producing property features two fully rented units. The main-level unit offers 2 bedrooms, 1 bath, a large kitchen, spacious living room, and basement access. The second level unit includes 1 bedroom and 1 bath. Both units have in-unit laundry, providing added convenience for tenants. Oversized lot that includes private off-street parking and ample street parking for guests and tenants. Conveniently located near Hwy 65/69. Turnkey investment with reliable rental income.
For sale
Price cut: $5K (7/16)
$174,900
601 N 1st St, Indianola, IA 50125
4beds
1,524sqft
Est.:
Multi Family
Built in 1890
-- sqft lot
$164,200 Zestimate®
$115/sqft
$-- HOA
What's special
Private off-street parkingAmple street parkingIn-unit laundryBasement accessLarge kitchenOversized lot
- 50 days
- on Zillow |
- 578 |
- 27 |
Zillow last checked: 7 hours ago
Listing updated: July 16, 2025 at 07:31am
Listed by:
Misty Darling (515)962-5555,
BH&G Real Estate Innovations,
Emily Burton 515-238-3317,
BH&G Real Estate Innovations
Source: DMMLS,MLS#: 719413
Originating MLS: Des Moines Area Association of REALTORS

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Tour with a buyer's agent
Tour with a buyer's agent
Facts & 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: 7,405.2 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: $115/sqft
- Tax assessed value: $114,500
- Annual tax amount: $2,053
- Date on market: 6/3/2025
- Listing terms: Cash,Conventional,FHA,USDA Loan,VA Loan
- Road surface type: Concrete
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