1256 49th St · West Des Moines, IA 50266

$157,000

2 bd · 2.0 ba · 1,081 sqft · Condo · 17 Days on market

Built 1982 Good condition

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Why this score? — see what drove the D 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 +11.5/30.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover easy living in this well-kept 2-bed, 2-bath condo offering 1,081 sq ft of functional, single-level space in a convenient West Des Moines location. This home features an efficient layout with two full bathrooms, central cooling, and an apartment-style design built for comfort and practicality. (Total Square Feet Living: 1081 and Full Bathrooms: 2.) A detached 1-car garage and concrete driveway provide reliable parking and storage. The Crossroads Colony HOA handles exterior maintenance, lawn care, snow removal, trash service, and extra storage, creating a low-maintenance lifestyle ideal for busy owners or those seeking simplicity. (Exterior Maint. /Bldg. , Lawn Care, Snow Removal, Trash Service, and Community Features: Extra Storage. ) Located just south of I235 with quick access to 50th Street and Pleasant Street, this condo sits within the West Des Moines School District and is close to shopping, dining, parks, and major commuter routes. (Directions: 50th St South Of I235, East On Pleasant St) With a solid assessment history and a well-managed community, this home offers affordability, convenience, and long-term value in one of West Des Moines most accessible neighborhoods.

Key facts

• Nearby tennis courts
• Built 1982
• Listed 17 days

Tags

• QUIET RESIDENTIAL SETTING
• IN UNIT LAUNDRY FACILITIES
• SURROUNDED BY MATURE TREES
• NEARBY TENNIS COURTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $157k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-52 ($-622/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (16.7% below list).
• Recommended offer: $131k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.5% in West 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 87/100 on livability (#11 in IA, #336 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• West Des Moines Community School District (urban): math 66% / reading 71% proficiency, ranked #133 of 289 in IA (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crossroads Park Elementary School (math 72% / reading 72%, grade A-, #181 of 616 statewide, top 34%, 521 students, 33% FRL); Indian Hills Junior High School (math 65% / reading 72%, grade A, #126 of 246 statewide, top 53%, 696 students, 45% FRL); Valley High School (math 71% / reading 81%, grade A-, #75 of 336 statewide, top 23%, 2,152 students, 36% FRL).
• Market conditions: Rents rising (+1.9%/yr); 591 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $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 17 days — a 2% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $130,782 (16.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-30,101
• Equity at exit: $23,409

10-year hold

• IRR: -15.1%
• Equity multiple: 0.18×
• Total profit: $-35,925
• Equity at exit: $13,574

Cash invested: $43,960 (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 50266

• Home prices YoY: -17.5%
• Rents YoY: 1.9%
• Active inventory: 591
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$823
• Tax est. 1.5%: −$196 /mo · $2,355/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-52

Break-even live

Break-even rent $1,373

Max offer price $149,502

Occupancy floor 99%

Sensitivity live

Price	-10% $57	-5% $2	+0% $-52	+5% $-106	+10% $-160
Rent	-10% $-155	-5% $-103	+0% $-52	+5% $0	+10% $52
Rate	-1.0pp $27	-0.5pp $-12	base $-52	+0.5pp $-92	+1.0pp $-134

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 49th St #4 West Des Moines, IA	2.0	2.0	1152	$1,500	$1.30	25d	1	0.06mi
4957 Woodland Ave Unit 20 West Des Moines, IA	2.0	1.0	865	$1,200	$1.39	45d	1	0.14mi
1340 42nd St West Des Moines, IA	1.0–3.0	1.0–2.0	1125	$952	$0.85	16d	15	0.33mi
3861 Woodland Ave West Des Moines, IA	1.0–2.0	1.0–2.0	844	$1,199	$1.42	16d	15	0.59mi
716 Knolls Ct West Des Moines, IA	3.0	2.5	1448	$2,095	$1.45	45d	1	0.74mi
11428 Forest Ave Apt 224 Clive, IA	2.0	2.0	947	$1,225	$1.29	45d	1	1.02mi
11428 Forest Ave Clive, IA	2.0	2.0	947	$1,199	$1.27	16d	1	1.02mi
11428 Forest Ave Unit 0924 Clive, IA	2.0	2.0	947	$1,225	$1.29	25d	1	1.03mi
5901 Vista Dr West Des Moines, IA	3.0	2.0	830	$1,269	$1.53	16d	130	1.07mi
238 52nd St Unit 117 West Des Moines, IA	2.0	1.0	850	$960	$1.13	45d	1	1.19mi
238 52nd St Unit 61 West Des Moines, IA	2.0	2.0	850	$945	$1.11	45d	1	1.19mi
238 52nd St Unit 59 West Des Moines, IA	2.0	2.0	850	$1,025	$1.21	45d	1	1.19mi
238 52nd St Unit 36 West Des Moines, IA	2.0	2.0	850	$1,050	$1.24	45d	1	1.19mi
238 52nd St Unit 065 West Des Moines, IA	2.0	1.0	850	$985	$1.16	45d	1	1.19mi
4700 Ep True Pkwy West Des Moines, IA	1.0–2.0	1.0–2.0	852	$1,707	$2.00	16d	25	1.23mi
3000 University Ave West Des Moines, IA	2.0	1.0	583	$1,136	$1.95	16d	46	1.27mi
4001 EP True Pkwy West Des Moines, IA	2.0	2.0	950	$1,250	$1.32	25d	3	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: trashlandscapingsnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-22
   days on market $157,000 Active 17 DOM
2. 2026-06-18
   days on market $157,000 Active 14 DOM
3. 2026-06-17
   days on market $157,000 Active 13 DOM
4. 2026-06-16
   days on market $157,000 Active 12 DOM
5. 2026-06-15
   days on market $157,000 Active 11 DOM
6. 2026-06-14
   days on market $157,000 Active 9 DOM
7. 2026-06-10
   days on market $157,000 Active 6 DOM
8. 2026-06-09
   days on market $157,000 Active 5 DOM
9. 2026-06-08
   days on market $157,000 Active 4 DOM
10. 2026-06-07
    remarks 695-char remark
11. 2026-06-07
    listed $157,000 Active 3 DOM

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

Taxation est. · year 1

• Rental income: $15,694
• − Mortgage interest: −$8,794
• − Property taxes: −$2,355
• − Insurance: −$785
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$4,567
• Taxable loss: −$3,319
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $175/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.

Condition & rehab AI · 7 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is move-in ready with good condition and minimal repairs needed. It offers a great location and potential for value enhancement through cosmetic updates.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and can attract more buyers/renters
• Both New flooring in bathrooms and kitchen — Modern flooring can significantly increase the property's value and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and can attract more buyers/renters ↑
• Both New flooring in bathrooms and kitchen — Modern flooring can significantly increase the property's value and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Des Moines Community School District
• NCES district ID: 1930930
• Math proficiency: 66% ▼ -9.00%
• Reading proficiency: 71% ▬ 0.00%
• Median HH income: $69,043
• Composite: 59.93/100
• National rank: #878
• State rank: #133 of 289 in IA

Livability — West Des Moines

• Score: 87/100
• State rank: #11
• US rank: #336

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Des Moines, IA
• County: Dallas County · 77,082 people
• City population: 71,011
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 37,523
• Household income: $87,025
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 1561.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 6% Hispanic / Latino 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 5% Italian 3% Iranian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Asian/Pacific 3% Other Indo-European 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: ▼ -43.24%
• Current HPI: 203.6979
• Rent YoY: ▲ 1.94%
• 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

-0.3% since first listed

2 events — show timeline

• 2026-06-04 Listed $157,000 ForSaleByOwner.com
• 2026-06-04 Listed $157,500 ForSaleByOwner.com