1810 E Walnut St · Des Moines, IA 50316

$134,900

1 bd · 1.0 ba · 592 sqft · SingleFamily public records · 35 Days on market

Built 1890 8,494 sqft lot $228/sqft · at area comps Est $133k · at est.

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Why this score? — see what drove the F 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 +9.9/30.0
• ARV discount +6.9/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

Key facts

• Move-in ready
• Functional kitchen
• Bright living area

Tags

• MOVE-IN READY
• BRIGHT LIVING AREA
• FUNCTIONAL KITCHEN
• EASY ACCESS TO DOWNTOWN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential zoning
• Construction: Vinyl siding; Asphalt shingle roof; Block foundation; Built on 0.195-acre lot
• Exterior features: Rectangular lot; Concrete road frontage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (26.1% below list).
• Recommended offer: $100k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: 105 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 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

• It's been on market 35 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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.
• Current owner paid $46k; list at $135k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,678 (26.1% 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 35 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.74% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.70%
• DSCR: 0.88
• GRM: 11.3

CMA / ARV

• ARV (median comp): $133,202
• List price: $134,900
• Delta: 1.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1636 Walker St	0.51mi	1/1.0	616 (+4%)	15mo	$142,000	$231	57
232 E 16th Ct	0.28mi	2/1.0 (+1)	616 (+4%)	24mo	$164,500	$267	55
2036 Capitol Ave	0.31mi	2/1.0 (+1)	664 (+12%)	10mo	$110,000	$166	52
804 E 21st Ct	0.53mi	2/1.0 (+1)	640 (+8%)	9mo	$75,000	$117	49
2257 E Grand Ave	0.58mi	2/1.0 (+1)	658 (+11%)	19mo	$100,000	$152	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.28×
• Total profit: $-27,285
• Equity at exit: $20,114

10-year hold

• IRR: -14.2%
• Equity multiple: 0.18×
• Total profit: $-30,807
• Equity at exit: $11,664

Cash invested: $37,772 (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 50316

• Home prices YoY: -29.5%
• Active inventory: 105
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $997 high
• Mortgage (P&I): −$707
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-85

Break-even live

Break-even rent $1,104

Max offer price $119,911

Occupancy floor —

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1441 Capitol Ave Apt 16 Des Moines, IA	1.0	1.0	650	$550	$0.85	14d	1	0.50mi
1441 Capitol Ave Unit 15 Des Moines, IA	—	1.0	475	$545	$1.15	23d	1	0.50mi
1424 E Walnut St Des Moines, IA	1.0	1.0	500	$725	$1.45	21d	1	0.54mi
1419 Capitol Ave Des Moines, IA	1.0	1.0	680	$750	$1.10	23d	1	0.56mi
808 E 11th St Unit 3 Des Moines, IA	—	1.0	350	$625	$1.79	23d	1	0.99mi
317 E 6th St Unit 220 Des Moines, IA	—	1.0	622	$1,300	$2.09	43d	1	1.25mi
317 E 6th St Unit 608 Des Moines, IA	—	1.0	555	$1,225	$2.21	43d	1	1.25mi
317 E 6th St Apt 115 Des Moines, IA	1.0	1.0	655	$1,375	$2.10	43d	1	1.25mi
317 E 6th St Unit 508 Des Moines, IA	—	1.0	555	$1,250	$2.25	43d	1	1.25mi
317 E 6th St Apt 116 Des Moines, IA	—	1.0	513	$1,050	$2.05	43d	1	1.25mi
601 E Vine St Des Moines, IA	2.0	1.0–2.0	730	$1,295	$1.77	19d	19	1.25mi
201 SE 6th St Des Moines, IA	2.0	1.0–2.0	835	$1,346	$1.61	14d	11	1.29mi
401 SE 6th St Des Moines, IA	1.0–2.0	1.0	764	$1,097	$1.44	14d	6	1.30mi
660 E 5th St Des Moines, IA	1.0	1.0	507	$1,197	$2.36	14d	21	1.39mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$923	$1.34	14d	25	1.40mi
418 E Grand Ave Des Moines, IA	2.0	1.0	499	$1,238	$2.48	14d	9	1.40mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,222	$1.67	14d	4	1.44mi
333 E Grand Ave Des Moines, IA	2.0	1.0–2.0	668	$1,088	$1.63	23d	4	1.45mi

Listing history 31 events

1. 2026-06-18
   days on market $134,900 Active 35 DOM
2. 2026-06-17
   days on market $134,900 Active 34 DOM
3. 2026-06-16
   days on market $134,900 Active 33 DOM
4. 2026-06-15
   days on market $134,900 Active 32 DOM
5. 2026-06-14
   days on market $134,900 Active 30 DOM
6. 2026-06-13
   days on market $134,900 Active 29 DOM
7. 2026-06-10
   days on market $134,900 Active 27 DOM
8. 2026-06-09
   days on market $134,900 Active 26 DOM
9. 2026-06-08
   days on market $134,900 Active 25 DOM
10. 2026-06-07
    days on market $134,900 Active 24 DOM
11. 2026-06-05
    days on market $134,900 Active 21 DOM
12. 2026-06-03
    days on market $134,900 Active 20 DOM
13. 2026-06-02
    days on market $134,900 Active 19 DOM
14. 2026-06-01
    days on market $134,900 Active 18 DOM
15. 2026-05-31
    days on market $134,900 Active 17 DOM
16. 2026-05-31
    days on market $134,900 Active 16 DOM
17. 2026-05-14
    listed $134,900 Active 505-char remark
18. 2020-02-11
    soldstatus $45,500
19. 2020-02-07
    soldstatus $45,500 Closed 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

20. 2020-02-04
    status Pending 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

21. 2020-01-16
    price $47,500 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

22. 2019-12-16
    price $50,000 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

23. 2019-12-04
    price $52,500 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

24. 2019-10-11
    price $55,000 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

25. 2019-10-11
    status Active 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

26. 2019-10-09
    status Pending 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

27. 2019-10-01
    price $60,000 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

28. 2019-08-28
    price $65,000 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

29. 2019-08-07
    listed $70,000 Active 623-char remark

    Show marketing remark (623 chars)

    Wonderful buying opportunity for anyone looking for an affordable home (pay less than rent and own), or for investors looking for their next rental property! Ideal location just blocks from downtown and interstate means a quick commute to anywhere in the metro! Recently updated with maintenance free vinyl siding & newer windows. Plenty of space to add a garage, and convenient alley access along the back of the yard. Located in NFC area with grant money available for qualified buyers - use the funds to add a garage! 3 blocks from Capital View Elementary. Contact your agent today for more information and a tour!

30. 2014-04-02
    soldstatus $12,579

    Show marketing remark (137 chars)

    Priced to sell for anyone wanting a rental or a fix and flip investment home. Sold as is, how is, for the trustee of the conservatorship.

31. 2014-02-18
    listed $9,999

    Show marketing remark (137 chars)

    Priced to sell for anyone wanting a rental or a fix and flip investment home. Sold as is, how is, for the trustee of the conservatorship.

ⓘ 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: $1,304 · $109/mo
• Projected year-2 tax: $1,711 · $143/mo
• Expected delta: +$407/yr (+$34/mo · 31.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $11,961
• − Mortgage interest: −$7,556
• − Property taxes: −$1,304
• − Insurance: −$674
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$3,924
• Taxable loss: −$3,412
• Est. tax savings @ 24.0%: +$819
• After-tax cash flow: $-199/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
• City population: 203,612
• Population (ZIP): 16,188

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Black 12% Two or more races 12% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 1% Iranian 1%
• Foreign-born: 16% · Canada, Vietnam, Philippines
• Languages at home: 69% English-only · Spanish 20% Other Asian/Pacific 3% Vietnamese 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: ▼ -121.34%
• Current HPI: 290.3838
• Rent YoY: —
• Metro: —
• 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

+1249.1% since first listed

15 events — show timeline

• 2026-05-14 Listed $134,900 DMMLS
• 2020-02-11 Sold (Public Records) $45,500 Public Records
• 2020-02-07 Sold (MLS) $45,500 DMMLS
• 2020-02-04 Pending — DMMLS
• 2020-01-16 Price Changed $47,500 DMMLS
• 2019-12-16 Price Changed $50,000 DMMLS
• 2019-12-04 Price Changed $52,500 DMMLS
• 2019-10-11 Price Changed $55,000 DMMLS
• 2019-10-11 Relisted — DMMLS
• 2019-10-09 Pending — DMMLS
• 2019-10-01 Price Changed $60,000 DMMLS
• 2019-08-28 Price Changed $65,000 DMMLS
• 2019-08-07 Listed $70,000 DMMLS
• 2014-04-02 Sold (MLS) $12,579 DMMLS
• 2014-02-18 Listed $9,999 DMMLS

Property tax history

+5.8%/yr

Latest (2025): $1,304 · +2.0% YoY. Source: county tax records.