3733 Hull Ave · Des Moines, IA 50317

$60,000

1 bd · 1.0 ba · 684 sqft · SingleFamily public records · 1 Days on market

Built 1932 0.29 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

24 Hour Sale

Key facts

• 0.29 acre lot
• Built 1932

Property features AI

Finance

• Other: Zoned N3A
• Financial info: Annual taxes approximately $940

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Vinyl siding; Built using typical residential construction
• Exterior features: Rectangular lot; Concrete road frontage; Lot dimensions approximately 100 x 126

Interior

• Bedrooms: 1 main level bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air gas heating
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($874 rent vs $60k).
• Cap rate 11.2% 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 (+2.3%/yr); 357 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 16% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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 + 2.3% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.46% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $134,748
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2345 E 37th Ct	0.38mi	2/1.0 (+1)	661 (-3%)	2mo	$124,000	$188	70
2528 E 38th Ct	0.28mi	2/1.0 (+1)	694 (+2%)	13mo	$136,900	$197	68
2347 E 38th Ct	0.38mi	2/1.0 (+1)	672 (-2%)	15mo	$125,000	$186	62
2201 E 38th Ct	0.56mi	2/1.0 (+1)	720 (+5%)	0mo	$138,000	$192	60
2426 E 38th St	0.30mi	2/1.0 (+1)	720 (+5%)	15mo	$145,000	$201	60
2520 E 38th St	0.25mi	2/1.0 (+1)	780 (+14%)	3mo	$159,900	$205	58
2324 E 40th Ct	0.53mi	2/1.0 (+1)	720 (+5%)	15mo	$141,080	$196	49
2508 E 41st St	0.48mi	2/1.0 (+1)	624 (-9%)	17mo	$165,000	$264	44
3504 Easton Blvd	0.64mi	2/1.0 (+1)	604 (-12%)	3mo	$20,000	$33	43
2311 Williams St	0.67mi	2/1.0 (+1)	616 (-10%)	6mo	$160,000	$260	42
4144 Easton Blvd	0.67mi	2/1.0 (+1)	768 (+12%)	3mo	$150,000	$195	41
2515 E 37th Ct	0.27mi	2/2.0 (+1)	768 (+12%)	20mo	$205,000	$267	41

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 · 2.29% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.32×
• Total profit: $5,428
• Equity at exit: $8,946

10-year hold

• IRR: 16.9%
• Equity multiple: 2.35×
• Total profit: $22,611
• Equity at exit: $5,188

Cash invested: $16,800 (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 50317

• Rents YoY: 2.3%
• Active inventory: 357
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $874 high
• Mortgage (P&I): −$315
• Tax from tax record: −$104 /mo · $1,242/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $247

Break-even live

Break-even rent $561

Max offer price $60,000

Occupancy floor 67%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3722 Hubbell Ave Des Moines, IA	1.0–2.0	1.0–2.0	766	$875	$1.14	14d	2	0.57mi
3560 E Douglas Ave Des Moines, IA	1.0–3.0	1.0–2.0	870	$825	$0.95	14d	14	0.77mi
4014 Hubbell Ave Des Moines, IA	1.0–2.0	1.0	750	$825	$1.10	14d	13	0.85mi
2938 E Euclid Ave Unit 2 Des Moines, IA	2.0	1.0	575	$650	$1.13	14d	1	0.94mi
2555 Wedgewood Rd Des Moines, IA	1.0	1.0	650	$750	$1.15	14d	1	1.38mi
1220 E 37th Ct Des Moines, IA	2.0	1.0	560	$950	$1.70	23d	1	1.42mi

Listing history 2 events

1. 2026-06-13
   remarks 12-char remark
2. 2026-06-13
   listed $60,000 Pending 1 DOM

ⓘ 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: $1,242 · $104/mo
• Projected year-2 tax: $1,242 · $104/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,485
• − Mortgage interest: −$3,361
• − Property taxes: −$1,242
• − Insurance: −$300
• − Repairs & maintenance: −$839
• − Management: −$839
• − Depreciation: −$1,745
• Taxable income: $2,159
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $2,447/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): 36,548
• Household income: $65,617
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 716.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 10% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Portuguese 3% Iranian 2% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 13% Other Asian/Pacific 2%

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: ▼ -235.00%
• Current HPI: 281.7409
• Rent YoY: ▲ 2.29%
• 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

2 events — show timeline

• 2026-06-10 Pending — DMMLS
• 2026-06-10 Listed $60,000 DMMLS

Property tax history

-0.8%/yr

Latest (2025): $1,242 · +2.0% YoY. Source: county tax records.