4125 57th St · Des Moines, IA 50310

$164,000

4 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 177 Days on market

Built 1947 8,400 sqft lot $138/sqft · 27% below area Est $226k · 27% 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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.3/10.0
• 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

4 bedroom, 1 bath home close to shopping & Merle Hay Mall. New roof, hardwood floors, fenced back yard, 1 car attached garage.

Key facts

• Fenced back yard
• New roof
• Hardwood floors

Tags

• NEW ROOF
• HARDWOOD FLOORS
• FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $144k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (+3.7%/yr); 256 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 177 days — a 12% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $26k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $164k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 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 1947 — 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: 1.03% ✓
• Cap rate: 7.29%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.1

CMA / ARV

• ARV (median comp): $225,685
• List price: $164,000
• Delta: -27.33%
• 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
4121 57th St	0.01mi	3/1.0 (-1)	1,264 (+6%)	2mo	$192,000	$152	83
4237 62nd St	0.42mi	3/1.5 (-1)	1,226 (+3%)	3mo	$260,000	$212	66
4020 64th St	0.51mi	3/1.5 (-1)	1,116 (-6%)	0mo	$287,500	$258	58
3702 54th St	0.50mi	3/1.0 (-1)	1,089 (-9%)	3mo	$229,900	$211	54
3913 64th St	0.53mi	3/1.5 (-1)	1,088 (-9%)	0mo	$252,000	$232	53
3512 62nd St	0.67mi	3/1.5 (-1)	1,138 (-4%)	3mo	$205,000	$180	51
4012 64th St	0.52mi	3/1.5 (-1)	1,064 (-11%)	2mo	$235,000	$221	50
3929 64th St	0.51mi	3/1.0 (-1)	1,038 (-13%)	3mo	$217,900	$210	47
3514 50th St	0.69mi	3/2.0 (-1)	1,319 (+11%)	2mo	$295,000	$224	39
4017 68th St	0.71mi	3/1.5 (-1)	1,048 (-12%)	1mo	$178,000	$170	39
3607 50th St	0.69mi	3/1.5 (-1)	1,035 (-13%)	3mo	$240,000	$232	37
4140 68th St	0.73mi	3/3.0 (-1)	1,320 (+11%)	3mo	$181,000	$137	32

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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-16,522
• Equity at exit: $24,453

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $2,395
• Equity at exit: $14,180

Cash invested: $45,920 (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 50310

• Rents YoY: 3.7%
• Active inventory: 256
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,692 high
• Mortgage (P&I): −$860
• Tax from tax record: −$271 /mo · $3,256/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $137

Break-even live

Break-even rent $1,519

Max offer price $164,000

Occupancy floor 87%

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5315 Merced St Des Moines, IA	4.0	2.0	1500	$1,995	$1.33	23d	1	0.27mi
4306 50th St Unit 4306 Des Moines, IA	3.0	1.0	1398	$1,500	$1.07	14d	1	0.46mi
4807 NW 51st St Des Moines, IA	3.0	2.0	1400	$1,600	$1.14	14d	1	0.90mi
7218 Maryland Dr Urbandale, IA	3.0	1.0	1224	$1,825	$1.49	14d	1	1.33mi
6203 Holcomb Ave Des Moines, IA	3.0	1.0	1106	$1,650	$1.49	14d	1	1.37mi

Listing history 8 events

1. 2026-05-16
   status Pending 132-char remark

   Show marketing remark (132 chars)

   4 bedroom, 1 bath home close to shopping & Merle Hay Mall. New roof, hardwood floors, fenced back yard, 1 car attached garage.

2. 2026-05-05
   price $164,000 132-char remark

   Show marketing remark (132 chars)

   4 bedroom, 1 bath home close to shopping & Merle Hay Mall. New roof, hardwood floors, fenced back yard, 1 car attached garage.

3. 2026-04-02
   price $169,900 132-char remark

   Show marketing remark (132 chars)

   4 bedroom, 1 bath home close to shopping & Merle Hay Mall. New roof, hardwood floors, fenced back yard, 1 car attached garage.

4. 2026-01-16
   price $179,900 132-char remark

   Show marketing remark (132 chars)

   4 bedroom, 1 bath home close to shopping & Merle Hay Mall. New roof, hardwood floors, fenced back yard, 1 car attached garage.

5. 2025-11-20
   listed $189,900 Active 132-char remark

   Show marketing remark (132 chars)

   4 bedroom, 1 bath home close to shopping & Merle Hay Mall. New roof, hardwood floors, fenced back yard, 1 car attached garage.

6. 2013-01-30
   soldstatus $72,255 460-char remark

   Show marketing remark (460 chars)

   4 bedrooms for this price?? This home has character AND updates: hardwood flooring, vinyl replacement windows, vinyl siding = maintenance free! Large screened porch looking to spacious fenced yard in back; enjoy the fall evenings enjoying the peace and quiet. Eat-in kitchen with built-in buffet/storage. Even a small library or office right off the living room! Main level laundry and attached garage equals convenience. All bedrooms are on the main level.

7. 2013-01-30
   soldstatus $72,500

   Show marketing remark (460 chars)

   4 bedrooms for this price?? This home has character AND updates: hardwood flooring, vinyl replacement windows, vinyl siding = maintenance free! Large screened porch looking to spacious fenced yard in back; enjoy the fall evenings enjoying the peace and quiet. Eat-in kitchen with built-in buffet/storage. Even a small library or office right off the living room! Main level laundry and attached garage equals convenience. All bedrooms are on the main level.

8. 2012-09-11
   listed $85,000 460-char remark

   Show marketing remark (460 chars)

   4 bedrooms for this price?? This home has character AND updates: hardwood flooring, vinyl replacement windows, vinyl siding = maintenance free! Large screened porch looking to spacious fenced yard in back; enjoy the fall evenings enjoying the peace and quiet. Eat-in kitchen with built-in buffet/storage. Even a small library or office right off the living room! Main level laundry and attached garage equals convenience. All bedrooms are on the main level.

ⓘ 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: $3,256 · $271/mo
• Projected year-2 tax: $3,256 · $271/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 1/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,303
• − Mortgage interest: −$9,187
• − Property taxes: −$3,256
• − Insurance: −$820
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$4,771
• Taxable loss: −$979
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $1,878/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): 31,177
• Household income: $76,381
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 928.0

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% Black 14% Asian 9% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Ukrainian 3% Iranian 3% Italian 2%
• Foreign-born: 19% · Canada, Philippines, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 6% Spanish 6% Russian/Polish/Slavic 3%

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: ▼ -197.92%
• Current HPI: 248.07
• Rent YoY: ▲ 3.74%
• 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

+92.9% since first listed

8 events — show timeline

• 2026-05-16 Pending — DMMLS
• 2026-05-05 Price Changed $164,000 DMMLS
• 2026-04-02 Price Changed $169,900 DMMLS
• 2026-01-16 Price Changed $179,900 DMMLS
• 2025-11-20 Listed $189,900 DMMLS
• 2013-01-30 Sold (Public Records) $72,500 Public Records
• 2013-01-30 Sold (MLS) $72,255 DMMLS
• 2012-09-11 Listed $85,000 DMMLS

Property tax history

+2.6%/yr

Latest (2025): $3,256 · +2.1% YoY. Source: county tax records.