2210 S Union St · Des Moines, IA 50315

$159,900

4 bd · 1.0 ba · 1,513 sqft · SingleFamily public records · 65 Days on market

Built 1907 0.34 ac lot $106/sqft · 30% below area Est $227k · 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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious home featuring a large eat-in kitchen, expansive living room, and a convenient main-level bedroom. Enjoy a generously sized yard and an oversized 2+ car garage; perfect for a workshop, hobbies, or extra storage. Ideally located just minutes from downtown Des Moines, offering easy access to shopping, dining, and entertainment.

Key facts

• Main-level bedroom
• Eat-in kitchen
• Oversized garage

Tags

• EAT-IN KITCHEN
• EXPANSIVE LIVING ROOM
• MAIN-LEVEL BEDROOM
• GENEROUSLY SIZED YARD
• OVERSIZED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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 (+3.5%/yr); 227 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 runs 35% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $23k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $160k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — 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: 1.10% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• GRM: 7.6

CMA / ARV

• ARV (median comp): $227,288
• List price: $159,900
• Delta: -29.65%
• 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
217 E Edison Ave	0.44mi	3/1.0 (-1)	1,554 (+3%)	1mo	$180,000	$116	69
1989 SW 9th St	0.40mi	3/2.0 (-1)	1,447 (-4%)	2mo	$215,000	$149	64
205 E Livingston Ave	0.68mi	4/2.0	1,530 (+1%)	0mo	$268,499	$175	62
316 E Jackson Ave	0.67mi	3/1.0 (-1)	1,548 (+2%)	1mo	$230,000	$149	59
1812 SE 2nd St	0.47mi	3/2.0 (-1)	1,361 (-10%)	1mo	$97,500	$72	52
703 Taylor St	0.42mi	5/2.0 (+1)	1,664 (+10%)	5mo	$207,000	$124	51
348 E Pleasant View Dr	0.73mi	3/2.5 (-1)	1,479 (-2%)	2mo	$320,000	$216	50
220 Virginia Ave	0.60mi	3/1.0 (-1)	1,302 (-14%)	6mo	$179,900	$138	39
323 E Broad St	0.62mi	3/3.5 (-1)	1,372 (-9%)	2mo	$270,000	$197	39
405 E Granger Ave	0.62mi	3/2.5 (-1)	1,724 (+14%)	4mo	$325,000	$189	34
409 E Granger Ave	0.62mi	3/2.5 (-1)	1,724 (+14%)	5mo	$325,000	$189	32
436 E Granger Ave	0.67mi	3/3.0 (-1)	1,729 (+14%)	8mo	$375,000	$217	26

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 · 3.48% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-13,057
• Equity at exit: $23,842

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $7,843
• Equity at exit: $13,825

Cash invested: $44,772 (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 50315

• Rents YoY: 3.5%
• Active inventory: 227
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,753 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$293 /mo · $3,514/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $187

Break-even live

Break-even rent $1,516

Max offer price $159,900

Occupancy floor 84%

Sensitivity live

Price	-10% $278	-5% $232	+0% $187	+5% $142	+10% $97
Rent	-10% $49	-5% $118	+0% $187	+5% $256	+10% $326
Rate	-1.0pp $268	-0.5pp $228	base $187	+0.5pp $146	+1.0pp $104

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 E Dunham Ave Des Moines, IA	4.0	1.0	1462	$1,795	$1.23	15d	1	0.50mi
100 Jackson Ave Des Moines, IA	3.0	1.0–2.0	885	$1,718	$1.94	15d	21	0.62mi
1201 E Bell Ave Des Moines, IA	3.0	2.0	1107	$1,100	$0.99	15d	1	0.93mi
210 SW 11th St Des Moines, IA	3.0	1.0–2.5	947	$2,827	$2.98	15d	90	1.16mi

Listing history 30 events

1. 2026-06-18
   price $159,900 Active 65 DOM
2. 2026-06-18
   days on market $167,500 Active 65 DOM
3. 2026-06-17
   days on market $167,500 Active 64 DOM
4. 2026-06-16
   days on market $167,500 Active 63 DOM
5. 2026-06-15
   days on market $167,500 Active 62 DOM
6. 2026-06-14
   days on market $167,500 Active 60 DOM
7. 2026-06-13
   days on market $167,500 Active 59 DOM
8. 2026-06-10
   days on market $167,500 Active 57 DOM
9. 2026-06-09
   days on market $167,500 Active 56 DOM
10. 2026-06-08
    days on market $167,500 Active 55 DOM
11. 2026-06-07
    days on market $167,500 Active 54 DOM
12. 2026-06-05
    days on market $167,500 Active 51 DOM
13. 2026-06-03
    days on market $167,500 Active 50 DOM
14. 2026-06-03
    price $167,500 Active 49 DOM
15. 2026-06-02
    days on market $174,900 Active 49 DOM
16. 2026-06-01
    days on market $174,900 Active 48 DOM
17. 2026-05-31
    days on market $174,900 Active 47 DOM
18. 2026-05-31
    days on market $174,900 Active 46 DOM
19. 2026-05-06
    price $174,900 336-char remark

    Show marketing remark (336 chars)

    Spacious home featuring a large eat-in kitchen, expansive living room, and a convenient main-level bedroom. Enjoy a generously sized yard and an oversized 2+ car garage; perfect for a workshop, hobbies, or extra storage. Ideally located just minutes from downtown Des Moines, offering easy access to shopping, dining, and entertainment.

20. 2026-04-14
    listed $182,500 Active 336-char remark

    Show marketing remark (336 chars)

    Spacious home featuring a large eat-in kitchen, expansive living room, and a convenient main-level bedroom. Enjoy a generously sized yard and an oversized 2+ car garage; perfect for a workshop, hobbies, or extra storage. Ideally located just minutes from downtown Des Moines, offering easy access to shopping, dining, and entertainment.

21. 2018-12-14
    soldstatus $100,000
22. 2018-12-12
    soldstatus $99,900 Sold 545-char remark

    Show marketing remark (545 chars)

    Over 1500 sq ft of finish in this 1.5 story South side home featuring first floor master, oversized garage, and 3 season porch. All the appliances stay in the updated enormous kitchen. Beautiful flooring covers the massive living room and dining area. Upstairs find 3 good sized bedrooms and a 4th non conforming (walk through a bedroom to get to it). The garage is perfect for parking your cars in and big enough for a large shop as well. With updated electrical on the second level, solid roof and mechanicals, this is a wonderful family home.

23. 2018-10-22
    status Pending 545-char remark

    Show marketing remark (545 chars)

    Over 1500 sq ft of finish in this 1.5 story South side home featuring first floor master, oversized garage, and 3 season porch. All the appliances stay in the updated enormous kitchen. Beautiful flooring covers the massive living room and dining area. Upstairs find 3 good sized bedrooms and a 4th non conforming (walk through a bedroom to get to it). The garage is perfect for parking your cars in and big enough for a large shop as well. With updated electrical on the second level, solid roof and mechanicals, this is a wonderful family home.

24. 2018-10-11
    price $99,900 545-char remark

    Show marketing remark (545 chars)

    Over 1500 sq ft of finish in this 1.5 story South side home featuring first floor master, oversized garage, and 3 season porch. All the appliances stay in the updated enormous kitchen. Beautiful flooring covers the massive living room and dining area. Upstairs find 3 good sized bedrooms and a 4th non conforming (walk through a bedroom to get to it). The garage is perfect for parking your cars in and big enough for a large shop as well. With updated electrical on the second level, solid roof and mechanicals, this is a wonderful family home.

25. 2018-09-24
    listed $104,900 Active 545-char remark

    Show marketing remark (545 chars)

    Over 1500 sq ft of finish in this 1.5 story South side home featuring first floor master, oversized garage, and 3 season porch. All the appliances stay in the updated enormous kitchen. Beautiful flooring covers the massive living room and dining area. Upstairs find 3 good sized bedrooms and a 4th non conforming (walk through a bedroom to get to it). The garage is perfect for parking your cars in and big enough for a large shop as well. With updated electrical on the second level, solid roof and mechanicals, this is a wonderful family home.

26. 2018-01-22
    historical
27. 2017-10-13
    listed $109,900
28. 2014-11-13
    soldstatus $90,100
29. 2014-11-12
    soldstatus $90,000
30. 2014-06-13
    listed $89,999

ⓘ 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: $3,514 · $293/mo
• Projected year-2 tax: $3,514 · $293/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 2/10 Low
• 🌡 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: $21,040
• − Mortgage interest: −$8,957
• − Property taxes: −$3,514
• − Insurance: −$800
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$4,652
• Taxable loss: −$248
• Est. tax savings @ 24.0%: +$60
• After-tax cash flow: $2,305/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): 34,816
• Household income: $60,590
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1072.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 19% Two or more races 11% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, Philippines
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -259.03%
• Current HPI: 269.7231
• Rent YoY: ▲ 3.48%
• 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

+94.3% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $174,900 DMMLS
• 2026-04-14 Listed $182,500 DMMLS
• 2018-12-14 Sold (Public Records) $100,000 Public Records
• 2018-12-12 Sold (MLS) $99,900 DMMLS
• 2018-10-22 Pending — DMMLS
• 2018-10-11 Price Changed $99,900 DMMLS
• 2018-09-24 Listed $104,900 DMMLS
• 2018-01-22 Listing Removed — DMMLS
• 2017-10-13 Listed $109,900 DMMLS
• 2014-11-13 Sold (Public Records) $90,100 Public Records
• 2014-11-12 Sold (MLS) $90,000 DMMLS
• 2014-06-13 Listed $89,999 DMMLS

Property tax history

+4.4%/yr

Latest (2025): $3,514 · +2.1% YoY. Source: county tax records.