6525 NE Rising Sun Dr · Pleasant Hill, IA 50327

$189,900

3 bd · 1.0 ba · 772 sqft · SingleFamily public records · 91 Days on market

Built 1934 0.55 ac lot $246/sqft · 22% below area Est $242k · 22% under ↓ 12% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity to own a property with over a ½ acre in Pleasant Hill. Perfect for a Potential Build to Suit. Wonderful homes surround the Property. Home has 2 Bedrooms, 1 full bath, Kitchen and walkout lower level and is perfect for a remodel and or a fixer Upper. Property sits on a corner lot and has plenty of potential. Nice size 2 car detached garage. Close to schools, close to Shopping, close to Hwy 163 and to the Highway 5 Bypass.

Key facts

• Close to schools
• Close to hwy 163
• Walkout lower level

Tags

• OVER A HALF ACRE
• CORNER LOT
• WALKOUT LOWER LEVEL
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO HWY 163

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-32 ($-387/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (19.4% below list).
• Recommended offer: $153k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.5% in Pleasant Hill — 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 79/100 on livability (#100 in IA, #2,025 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Southeast Polk Community School District (rural): math 73% / reading 73% proficiency, ranked #70 of 289 in IA (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 134 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $6k 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 91 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,086 (19.4% 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. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• GRM: 10.3

CMA / ARV

• ARV (median comp): $241,965
• List price: $189,900
• Delta: -21.52%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-32,848
• Equity at exit: $28,315

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-31,332
• Equity at exit: $16,419

Cash invested: $53,172 (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 50327

• Home prices YoY: -28.7%
• Active inventory: 134
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,531 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$167 /mo · $2,000/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-32

Break-even live

Break-even rent $1,572

Max offer price $184,200

Occupancy floor 97%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1116 Redstone Ln Pleasant Hill, IA	2.0	2.0	1056	$1,350	$1.28	23d	1	0.43mi
799 Ne 60th St Pleasant Hill, IA	1.0–3.0	1.0–3.5	1185	$2,169	$1.83	14d	7	0.63mi
5756 Basswood Ln Pleasant Hill, IA	3.0	1.0	1008	$1,195	$1.19	43d	1	1.02mi
5327 Jennifer Dr Pleasant Hill, IA	2.0	1.0	800	$2,249	$2.81	23d	1	1.42mi
935 Sherrylynn Blvd Pleasant Hill, IA	2.0–3.0	1.5–2.0	920	$1,160	$1.26	14d	26	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $189,900 Active 91 DOM
2. 2026-06-17
   days on market $189,900 Active 90 DOM
3. 2026-06-16
   days on market $189,900 Active 89 DOM
4. 2026-06-15
   days on market $189,900 Active 88 DOM
5. 2026-06-14
   days on market $189,900 Active 86 DOM
6. 2026-06-10
   days on market $189,900 Active 83 DOM
7. 2026-06-09
   days on market $189,900 Active 82 DOM
8. 2026-06-08
   days on market $189,900 Active 81 DOM
9. 2026-06-07
   days on market $189,900 Active 80 DOM
10. 2026-06-03
    days on market $189,900 Active 76 DOM
11. 2026-06-02
    days on market $189,900 Active 75 DOM
12. 2026-06-01
    days on market $189,900 Active 74 DOM
13. 2026-05-31
    days on market $189,900 Active 73 DOM
14. 2026-05-31
    days on market $189,900 Active 72 DOM
15. 2026-04-28
    price $198,500 449-char remark

    Show marketing remark (449 chars)

    Great Opportunity to own a property with over a ½ acre in Pleasant Hill. Perfect for a Potential Build to Suit. Wonderful homes surround the Property. Home has 2 Bedrooms, 1 full bath, Kitchen and walkout lower level and is perfect for a remodel and or a fixer Upper. Property sits on a corner lot and has plenty of potential. Nice size 2 car detached garage. Close to schools, close to Shopping, close to Hwy 163 and to the Highway 5 Bypass.

16. 2026-04-07
    price $215,900 449-char remark

    Show marketing remark (449 chars)

    Great Opportunity to own a property with over a ½ acre in Pleasant Hill. Perfect for a Potential Build to Suit. Wonderful homes surround the Property. Home has 2 Bedrooms, 1 full bath, Kitchen and walkout lower level and is perfect for a remodel and or a fixer Upper. Property sits on a corner lot and has plenty of potential. Nice size 2 car detached garage. Close to schools, close to Shopping, close to Hwy 163 and to the Highway 5 Bypass.

17. 2026-03-19
    listed $225,000 Active 449-char remark

    Show marketing remark (449 chars)

    Great Opportunity to own a property with over a ½ acre in Pleasant Hill. Perfect for a Potential Build to Suit. Wonderful homes surround the Property. Home has 2 Bedrooms, 1 full bath, Kitchen and walkout lower level and is perfect for a remodel and or a fixer Upper. Property sits on a corner lot and has plenty of potential. Nice size 2 car detached garage. Close to schools, close to Shopping, close to Hwy 163 and to the Highway 5 Bypass.

ⓘ 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: $2,000 · $167/mo
• Projected year-2 tax: $2,491 · $208/mo
• Expected delta: +$491/yr (+$41/mo · 24.5%)

ⓘ 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,370
• − Mortgage interest: −$10,637
• − Property taxes: −$2,000
• − Insurance: −$950
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$5,524
• Taxable loss: −$3,680
• Est. tax savings @ 24.0%: +$883
• After-tax cash flow: $496/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: Southeast Polk Community School District
• NCES district ID: 1926820
• Math proficiency: 73% ▼ -8.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $73,440
• Composite: 64.1/100
• National rank: #575
• State rank: #70 of 289 in IA

Livability — Pleasant Hill

• Score: 79/100
• State rank: #100
• US rank: #2025

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Polk County · 453,298 people
• City population: 13,177
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 13,177
• Household income: $98,333
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 221.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Black 4% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 6% Italian 5% Iranian 4%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 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: ▼ -85.08%
• Current HPI: 211.6528
• Rent YoY: —
• 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

-11.8% since first listed

3 events — show timeline

• 2026-04-28 Price Changed $198,500 DMMLS
• 2026-04-07 Price Changed $215,900 DMMLS
• 2026-03-19 Listed $225,000 DMMLS

Property tax history

+2.2%/yr

Latest (2025): $2,000 · +1.9% YoY. Source: county tax records.