3107 5th Ave · Des Moines, IA 50313

$115,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 204 Days on market

Built 1911 5,025 sqft lot $106/sqft · 30% below area Est $163k · 30% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

There's something magnetic about this hillside bungalow - maybe it's the front porch made for people-watching, or the way the neighborhood hums with creative energy just south of Highland Park's Uptown revival. Inside, you'll find a space that feels collected, not curated - where vintage meets everyday comfort and good vibes come standard. It's the kind of home that invites you to slow down, settle in, and start your next story. Sold as-is, ready for someone who sees beauty in character and possibility.

Key facts

• 5,025 sq ft lot
• Built 1911
• Listed 204 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.1% in Des Moines — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#63 in IA, #1,432 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools D+, crime F.
• Des Moines Independent Community School District (urban): math 43% / reading 46% proficiency, ranked #289 of 289 in IA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+13.1%/yr); 154 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $115k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 7.7

CMA / ARV

• ARV (median comp): $163,338
• List price: $115,000
• Delta: -29.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2915 4th St	0.10mi	3/1.0	1,042 (-4%)	1mo	$161,500	$155	88
2915 3rd St	0.15mi	3/1.0	1,030 (-5%)	2mo	$173,000	$168	84
3109 4th St	0.06mi	2/1.0 (-1)	1,156 (+7%)	2mo	$165,000	$143	79
3122 1st St	0.23mi	2/1.0 (-1)	1,088 (+1%)	8mo	$135,000	$124	77
2919 1st St	0.27mi	3/1.0	1,153 (+7%)	0mo	$135,000	$117	76
3118 1st St	0.22mi	3/1.0	1,161 (+8%)	5mo	$112,500	$97	73
2701 Cornell St	0.51mi	3/1.0	1,056 (-2%)	4mo	$163,000	$154	70
1015 Euclid Ave	0.53mi	2/1.5 (-1)	1,168 (+8%)	2mo	$60,000	$51	53
3421 Amherst St	0.66mi	3/2.0	1,197 (+11%)	1mo	$205,000	$171	46
3633 Bowdoin St	0.68mi	2/1.0 (-1)	960 (-11%)	2mo	$75,300	$78	43
3507 Bowdoin St	0.62mi	2/1.0 (-1)	940 (-13%)	2mo	$168,000	$179	43
1126 Seneca Ave	0.75mi	2/1.0 (-1)	918 (-15%)	1mo	$204,900	$223	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-2,389
• Equity at exit: $17,147

10-year hold

• IRR: 12.7%
• Equity multiple: 2.25×
• Total profit: $40,272
• Equity at exit: $9,943

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 50313

• Rents YoY: 13.1%
• Active inventory: 154
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$603
• Tax from tax record: −$174 /mo · $2,088/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $152

Break-even live

Break-even rent $1,044

Max offer price $115,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3410 5th Ave Des Moines, IA	4.0	2.0	1474	$1,550	$1.05	44d	1	0.24mi
3623 Cambridge St Des Moines, IA	2.0	1.0	732	$1,145	$1.56	19d	1	0.53mi
3103 E 7th St Des Moines, IA	2.0	1.0	960	$1,200	$1.25	44d	1	0.70mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	44d	1	0.87mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	23d	1	0.87mi
4124 3rd St Des Moines, IA	3.0	1.0	996	$1,595	$1.60	14d	1	0.90mi
1438 9th St Des Moines, IA	2.0	1.0	700	$745	$1.06	21d	1	1.26mi
1314 Harrison Ave Des Moines, IA	3.0	1.0	1150	$1,195	$1.04	23d	1	1.41mi
2411 Welbeck Rd #11 Des Moines, IA	2.0	1.0	750	$745	$0.99	44d	1	1.41mi
2411 Welbeck Rd #7 Des Moines, IA	2.0	1.0	750	$845	$1.13	44d	1	1.41mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	23d	1	1.41mi
1714 College Ave Des Moines, IA	3.0	1.0	1015	$1,050	$1.03	44d	1	1.41mi
2501 24th St Unit 101 Des Moines, IA	2.0	1.0	750	$725	$0.97	23d	1	1.44mi
2501 24th St Apt 106 Des Moines, IA	4.0	2.0	1175	$1,245	$1.06	44d	1	1.44mi
2501 24th St Des Moines, IA	2.0	1.0	910	$795	$0.87	23d	1	1.44mi
2501 24th St Apt 107 Des Moines, IA	3.0	2.0	950	$1,045	$1.10	14d	1	1.44mi
2501 24th St Unit 113 Des Moines, IA	2.0	1.0	750	$945	$1.26	44d	1	1.44mi
2501 24th St Unit 111 Des Moines, IA	2.0	1.0	750	$760	$1.01	23d	1	1.44mi
2501 24th St Unit 121 Des Moines, IA	3.0	2.0	950	$995	$1.05	23d	1	1.44mi

Listing history 13 events

1. 2026-06-18
   days on market $115,000 Active 204 DOM
2. 2026-06-17
   days on market $115,000 Active 203 DOM
3. 2026-06-16
   days on market $115,000 Active 202 DOM
4. 2026-06-15
   days on market $115,000 Active 201 DOM
5. 2026-06-14
   days on market $115,000 Active 199 DOM
6. 2026-06-13
   statusdays on market $115,000 Active 198 DOM
7. 2026-05-08
   status Pending 508-char remark

   Show marketing remark (508 chars)

   There's something magnetic about this hillside bungalow - maybe it's the front porch made for people-watching, or the way the neighborhood hums with creative energy just south of Highland Park's Uptown revival. Inside, you'll find a space that feels collected, not curated - where vintage meets everyday comfort and good vibes come standard. It's the kind of home that invites you to slow down, settle in, and start your next story. Sold as-is, ready for someone who sees beauty in character and possibility.

8. 2026-03-29
   price $115,000 508-char remark

   Show marketing remark (508 chars)

   There's something magnetic about this hillside bungalow - maybe it's the front porch made for people-watching, or the way the neighborhood hums with creative energy just south of Highland Park's Uptown revival. Inside, you'll find a space that feels collected, not curated - where vintage meets everyday comfort and good vibes come standard. It's the kind of home that invites you to slow down, settle in, and start your next story. Sold as-is, ready for someone who sees beauty in character and possibility.

9. 2025-10-24
   listed $135,000 Active 508-char remark

   Show marketing remark (508 chars)

   There's something magnetic about this hillside bungalow - maybe it's the front porch made for people-watching, or the way the neighborhood hums with creative energy just south of Highland Park's Uptown revival. Inside, you'll find a space that feels collected, not curated - where vintage meets everyday comfort and good vibes come standard. It's the kind of home that invites you to slow down, settle in, and start your next story. Sold as-is, ready for someone who sees beauty in character and possibility.

10. 2020-06-10
    soldstatus $75,000
11. 2017-05-08
    soldstatus $34,500 373-char remark

    Show marketing remark (373 chars)

    Great opportunity at a home priced well below assessed value in NFC lending area. Home may be eligible for up to 10k in grants through local Neighborhood Financing Corporation. 3 beds, 1 bath, large kitchen, with a mud room at the back of the house. Large deck in back yard with off street parking. Recently upgraded 96%, 2 stage high efficiency furnace, and newer ac unit.

12. 2017-01-10
    listed $36,500 373-char remark

    Show marketing remark (373 chars)

    Great opportunity at a home priced well below assessed value in NFC lending area. Home may be eligible for up to 10k in grants through local Neighborhood Financing Corporation. 3 beds, 1 bath, large kitchen, with a mud room at the back of the house. Large deck in back yard with off street parking. Recently upgraded 96%, 2 stage high efficiency furnace, and newer ac unit.

13. 2005-02-16
    soldstatus $32,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $2,088 · $174/mo
• Projected year-2 tax: $2,088 · $174/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,839
• − Mortgage interest: −$6,442
• − Property taxes: −$2,088
• − Insurance: −$575
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$3,345
• Taxable income: $14
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $1,819/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Des Moines Independent Community School District
• NCES district ID: 1908970
• Math proficiency: 43% ▼ -6.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $45,905
• Composite: 37.83/100
• National rank: #4331
• State rank: #289 of 289 in IA

Livability — Des Moines

• Score: 81/100
• State rank: #63
• US rank: #1432

Category grades

Amenities B Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Des Moines, IA
• County: Polk County · 453,298 people
• City population: 203,612
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 17,440
• Household income: $68,361
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 454.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 548,042 people
• By 2030: 588,557 · +7.4%
• By 2040: 670,629 · +22.4%
• By 2050: 752,830 · +37.4%
• By 2075: 955,069 · +74.3%
• By 2100: 1,115,436 · +103.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 17% Black 11% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 3% Portuguese 2% Scotch-Irish 2%
• Foreign-born: 16% · Canada, Philippines, Vietnam
• Languages at home: 75% English-only · Spanish 14% Other Asian/Pacific 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Polk

• 2024 margin: D (+10.9) · D 54.8% · R 43.9% · Other 1.3%
• 2008→2024 swing: -3.7pp toward R · 2008: 14.6pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+15.2 2016: D+11.5 2012: D+14.2 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.17%
• Current HPI: 285.5708
• Rent YoY: ▲ 13.11%
• Metro: Des Moines-West Des Moines, IA
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

+253.8% since first listed

7 events — show timeline

• 2026-05-08 Pending — DMMLS
• 2026-03-29 Price Changed $115,000 DMMLS
• 2025-10-24 Listed $135,000 DMMLS
• 2020-06-10 Sold (Public Records) $75,000 Public Records
• 2017-05-08 Sold (MLS) $34,500 DMMLS
• 2017-01-10 Listed $36,500 DMMLS
• 2005-02-16 Sold (Public Records) $32,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,088 · +2.1% YoY. Source: county tax records.