2612 High St · Des Moines, IA 50312

$120,000

3 bd · 1.0 ba · 1,343 sqft · SingleFamily public records · 7 Days on market

Built 1913 7,068 sqft lot ↓ 14% since listing

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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 +23.5/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming home perfectly situated near the heart of Ingersoll! With great bones, a beautiful screened in porch, a highly convenient location, and plenty of upside, this Woodland Heights property is a smart opportunity for the right buyer. Close to Ingersoll, downtown, and I-235, this home offers the kind of location that makes daily life easy. It does need renovation and likely will not qualify for traditional financing, so cash or renovation financing is recommended. Potential NFC, Block Challenge grant and Invest DSM area eligibility adds even more appeal, but buyers should confirm all program details directly.

Key facts

• Screened in porch
• Close to i-235
• Close to downtown

Tags

• SCREENED IN PORCH
• WOODLAND HEIGHTS PROPERTY
• CLOSE TO DOWNTOWN
• CLOSE TO I-235

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.5% 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 soft (-1.1%/yr); 145 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $830 of loan paydown is wiped out by about $4k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1913 — 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: 1.21% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $256,513
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2612 High St	0.00mi	3/1.0	1,343 (0%)	1mo	$120,000	$89	99
2723 Linden St	0.06mi	3/1.5	1,308 (-3%)	1mo	$212,500	$162	90
2517 Woodland Ave	0.11mi	4/1.5 (+1)	1,361 (+1%)	1mo	$250,000	$184	85
710 31st St	0.44mi	3/1.0	1,289 (-4%)	1mo	$269,900	$209	72
683 25th St	0.20mi	3/2.0	1,507 (+12%)	2mo	$315,000	$209	64
683 27th St	0.20mi	3/2.0	1,154 (-14%)	1mo	$220,000	$191	62
1010 24th St	0.63mi	3/2.5	1,354 (+1%)	2mo	$345,000	$255	62
306 31st St	0.51mi	4/2.5 (+1)	1,407 (+5%)	2mo	$275,000	$195	56
636 35th St	0.63mi	3/2.0	1,223 (-9%)	2mo	$230,000	$188	50
3621 Woodland Ave	0.70mi	3/1.0	1,500 (+12%)	1mo	$310,000	$207	46
1006 26th St	0.61mi	3/1.5	1,158 (-14%)	1mo	$217,000	$187	46
676 34th St	0.59mi	4/1.0 (+1)	1,530 (+14%)	1mo	$209,000	$137	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.72×
• Total profit: $-9,413
• Equity at exit: $17,892

10-year hold

• IRR: -3.1%
• Equity multiple: 0.82×
• Total profit: $-6,010
• Equity at exit: $10,375

Cash invested: $33,600 (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 50312

• Rents YoY: -1.1%
• Active inventory: 145
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,450 high
• Mortgage (P&I): −$629
• Tax from tax record: −$243 /mo · $2,920/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $223

Break-even live

Break-even rent $1,168

Max offer price $120,000

Occupancy floor 80%

Sensitivity live

Price	-10% $291	-5% $257	+0% $223	+5% $189	+10% $155
Rent	-10% $108	-5% $166	+0% $223	+5% $280	+10% $338
Rate	-1.0pp $283	-0.5pp $254	base $223	+0.5pp $192	+1.0pp $160

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2714 Ingersoll Ave Des Moines, IA	1.0–2.0	1.0	750	$1,085	$1.45	44d	1	0.12mi
2301 Ingersoll Ave Des Moines, IA	2.0	1.0–2.0	784	$1,815	$2.32	15d	14	0.19mi
737 28th St Des Moines, IA	3.0	2.0	1037	$1,800	$1.74	44d	1	0.30mi
3005 Woodland Ave Unit 36 Des Moines, IA	2.0	1.0	1080	$1,030	$0.95	22d	1	0.31mi
641 35th St Unit 11 Des Moines, IA	2.0	1.5	1000	$1,030	$1.03	44d	1	0.56mi
1821 Woodland Ave Des Moines, IA	2.0	2.0	1200	$1,472	$1.23	44d	2	0.56mi
641 19th St Unit WP 5 Des Moines, IA	2.0	2.0	1200	$1,395	$1.16	44d	1	0.57mi
641 19th St Unit WP 1 Des Moines, IA	2.0	2.0	1200	$1,550	$1.29	44d	1	0.57mi
707 35th St Des Moines, IA	3.0	1.0	1546	$1,995	$1.29	15d	1	0.61mi
544 36th St Unit 2 Des Moines, IA	2.0	1.0	1152	$1,500	$1.30	44d	1	0.66mi
2813 Cottage Grove Ave Unit 2 Des Moines, IA	3.0	1.0	900	$1,200	$1.33	44d	1	0.82mi
1717 Olive Ave Unit B6 Des Moines, IA	2.0	2.0	1092	$1,700	$1.56	44d	1	0.84mi
1440 Locust St Des Moines, IA	2.0	1.0	957	$1,385	$1.45	15d	1	0.89mi
2940 Brattleboro Ave Unit 2 Des Moines, IA	3.0	2.0	1250	$1,300	$1.04	15d	1	0.90mi
2530 University Ave Des Moines, IA	2.0	1.0	647	$1,750	$2.70	15d	36	0.90mi
3927 Ingersoll Ave Des Moines, IA	2.0	1.0	1050	$1,195	$1.14	44d	1	0.93mi
4000 Ingersoll Ave Des Moines, IA	3.0	1.0–2.0	1263	$5,511	$4.36	15d	1	0.97mi
1171 21st St Unit 1 Des Moines, IA	2.0	1.0	1028	$1,150	$1.12	44d	1	1.00mi
1171 21st St Unit 2 Des Moines, IA	4.0	1.0	1210	$1,300	$1.07	44d	1	1.00mi
3519 University Ave Apt 103 Des Moines, IA	2.0	1.0	900	$915	$1.02	24d	1	1.13mi
1345 Keosauqua Way Des Moines, IA	2.0	2.5	1550	$2,045	$1.32	44d	1	1.15mi
1260 34th St Unit 401 Des Moines, IA	3.0	2.0	1088	$1,335	$1.23	44d	1	1.17mi
3103 Forest Ave Des Moines, IA	1.0–2.0	1.0–1.5	900	$1,550	$1.72	15d	1	1.25mi
3201 Forest Ave Des Moines, IA	3.0	1.0–2.0	717	$1,600	$2.23	15d	16	1.26mi
210 SW 11th St Des Moines, IA	3.0	1.0–2.5	947	$2,827	$2.98	15d	90	1.30mi
9066 Burkwood Dr West Des Moines, IA	3.0	2.5–3.5	1783	$1,960	$1.10	24d	2	1.33mi
2717 Meek Ave Des Moines, IA	2.0	2.0	1128	$1,550	$1.37	15d	1	1.41mi
604 Locust St Des Moines, IA	1.0–2.0	1.0–2.0	902	$1,743	$1.93	15d	5	1.45mi
405 6th Ave Des Moines, IA	2.0	1.0–2.0	737	$1,200	$1.63	15d	14	1.47mi
218 6th Ave Unit 401 Des Moines, IA	2.0	1.0	1085	$1,295	$1.19	44d	1	1.47mi
1546 33rd St Des Moines, IA	4.0	2.0	1540	$1,850	$1.20	15d	1	1.49mi
425 SW 11th St Des Moines, IA	2.0	1.0–2.0	879	$2,384	$2.71	15d	38	1.50mi

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-23
   price $120,000
3. 2026-04-20
   listed $140,000 Active

ⓘ 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: $2,920 · $243/mo
• Projected year-2 tax: $2,920 · $243/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: $17,402
• − Mortgage interest: −$6,722
• − Property taxes: −$2,920
• − Insurance: −$600
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$3,491
• Taxable income: $885
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $2,464/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): 15,802
• Household income: $92,242
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 467.0

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 6% Two or more races 6% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 2% Chinese 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: ▼ -299.67%
• Current HPI: 235.9518
• Rent YoY: ▼ -1.13%
• 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

-14.3% since first listed

3 events — show timeline

• 2026-04-28 Pending — DMMLS
• 2026-04-23 Price Changed $120,000 DMMLS
• 2026-04-20 Listed $140,000 DMMLS

Property tax history

+3.0%/yr

Latest (2025): $2,920 · -2.3% YoY. Source: county tax records.