1501 E 25th St · Des Moines, IA 50317

$73,000

2 bd · 1.0 ba · 834 sqft · SingleFamily public records · 24 Days on market

Built 1910 6,650 sqft lot $88/sqft · 60% below area ↓ 25% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special! 3-bedroom, 1-bath home with a 2-car garage. The property features a new roof and offers strong potential with some needed repairs. Previously used as a rental with past rental income of $940/month, making it a great opportunity for an investor or handyman project. Priced $34,500 below assessed value for added value and upside potential.

Key facts

• 6,650 sq ft lot
• 2 garage spots
• Built 1910

Property features AI

Exterior

• Parking: Detached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story; NX1 zoning
• Construction: Metal siding; Asphalt shingle roof; Has basement
• Exterior features: Chain link and wood fencing; Concrete road access

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Basement (unfinished)
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $73,000 price doesn't fit this home's estimated sale value (~$184,494) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $72k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.9% 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-, 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.
• Zoned schools: Phillips Elementary (math 57% / reading 47%, grade C-, #494 of 616 statewide, top 83%, 258 students, 81% FRL); Hiatt Middle School (math 31% / reading 35%, grade F, #244 of 246 statewide, top 99%, 529 students, 95% FRL); East High School (math 38% / reading 51%, grade F, #324 of 336 statewide, top 97%, 2,040 students, 79% FRL) — zoned schools average 85% FRL vs 63% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 362 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $505 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $14k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,905 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.73% ✓
• Cap rate: 12.91%
• Cash-on-cash: 23.62%
• DSCR: 2.05
• GRM: 4.8

CMA / ARV

• ARV (median comp): $184,494
• List price: $73,000
• Delta: -60.43%
• 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
1410 E 23rd St	0.26mi	2/1.0	874 (+5%)	3mo	$164,500	$188	78
2746 Cleveland Ave	0.38mi	2/1.0	784 (-6%)	1mo	$125,000	$159	71
1604 E 29th St	0.48mi	1/1.0 (-1)	836 (+0%)	3mo	$73,500	$88	70
815 E 25th St	0.53mi	2/1.0	800 (-4%)	2mo	$165,000	$206	67
2744 Indianapolis Ave	0.38mi	2/1.5	768 (-8%)	2mo	$158,000	$206	65
1519 E 24th St	0.16mi	2/2.0	945 (+13%)	2mo	$140,000	$148	65
2428 Des Moines St	0.69mi	2/1.5	832 (-0%)	2mo	$140,000	$168	64
1813 Larnard Dr	0.57mi	3/1.0 (+1)	875 (+5%)	1mo	$203,000	$232	60
2912 Cleveland Ave	0.53mi	2/1.0	756 (-9%)	2mo	$170,000	$225	58
2924 Kinsey Ave	0.55mi	3/2.0 (+1)	864 (+4%)	2mo	$205,000	$237	58
2700 Hubbell Ave	0.69mi	2/2.0	878 (+5%)	3mo	$175,500	$200	53
1922 E 29th St	0.57mi	3/1.0 (+1)	946 (+13%)	1mo	$219,500	$232	45

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 · 2.29% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 1.63×
• Total profit: $12,970
• Equity at exit: $10,885

10-year hold

• IRR: 24.0%
• Equity multiple: 3.00×
• Total profit: $40,965
• Equity at exit: $6,312

Cash invested: $20,440 (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 50317

• Rents YoY: 2.3%
• Active inventory: 362
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,263 high
• Mortgage (P&I): −$383
• Tax from tax record: −$182 /mo · $2,190/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $402

Break-even live

Break-even rent $754

Max offer price $73,000

Occupancy floor 63%

Sensitivity live

Price	-10% $444	-5% $423	+0% $402	+5% $382	+10% $361
Rent	-10% $302	-5% $352	+0% $402	+5% $452	+10% $502
Rate	-1.0pp $439	-0.5pp $421	base $402	+0.5pp $383	+1.0pp $364

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1726 E 24th St Des Moines, IA	3.0	1.0	850	$1,295	$1.52	46d	1	0.27mi
2121 E 23rd St Des Moines, IA	3.0	1.0	972	$1,395	$1.44	46d	1	0.52mi
2726 Des Moines St Des Moines, IA	2.0	1.0	975	$1,295	$1.33	46d	1	0.77mi
2120 Capitol Ave Des Moines, IA	3.0	1.0	973	$1,395	$1.43	46d	1	0.98mi
1713 Lyon St Des Moines, IA	3.0	1.0	834	$1,045	$1.25	23d	1	1.24mi
2555 Wedgewood Rd Des Moines, IA	1.0	1.0	650	$750	$1.15	16d	1	1.32mi
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	46d	1	1.35mi
1220 E 37th Ct Des Moines, IA	2.0	1.0	560	$950	$1.70	25d	1	1.47mi

Listing history 14 events

1. 2026-06-21
   days on market $73,000 Active 24 DOM
2. 2026-06-18
   days on market $73,000 Active 21 DOM
3. 2026-06-17
   days on market $73,000 Active 20 DOM
4. 2026-06-16
   pricedays on market $73,000 Active 19 DOM
5. 2026-06-15
   days on market $87,500 Active 18 DOM
6. 2026-06-14
   days on market $87,500 Active 16 DOM
7. 2026-06-13
   days on market $87,500 Active 15 DOM
8. 2026-06-10
   days on market $87,500 Active 13 DOM
9. 2026-06-09
   days on market $87,500 Active 12 DOM
10. 2026-06-09
    status $87,500 Active 11 DOM
11. 2026-05-15
    listed $87,500 Active 356-char remark
12. 2021-06-29
    soldstatus $87,550 Closed
13. 2021-06-18
    historical
14. 2021-06-01
    listed $97,000

ⓘ 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: $2,190 · $182/mo
• Projected year-2 tax: $2,190 · $182/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,159
• − Mortgage interest: −$4,089
• − Property taxes: −$2,190
• − Insurance: −$365
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$2,124
• Taxable income: $3,966
• Est. tax owed @ 24.0%: −$952
• After-tax cash flow: $3,875/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): 36,548
• Household income: $65,617
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 716.0

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% Hispanic / Latino 19% Two or more races 10% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Portuguese 3% Iranian 2% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -235.00%
• Current HPI: 281.7409
• Rent YoY: ▲ 2.29%
• 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

-24.7% since first listed

7 events — show timeline

• 2026-06-16 Price Changed $73,000 DMMLS
• 2026-06-08 Relisted — DMMLS
• 2026-05-26 Pending — DMMLS
• 2026-05-15 Listed $87,500 DMMLS
• 2021-06-29 Sold (MLS) $87,550 DMMLS
• 2021-06-18 Listing Removed — DMMLS
• 2021-06-01 Listed $97,000 DMMLS

Property tax history

+2.4%/yr

Latest (2025): $2,190 · +2.1% YoY. Source: county tax records.