2613 Columbia St · Des Moines, IA 50313

$64,900

2 bd · 1.0 ba · 694 sqft · SingleFamily public records · 37 Days on market

Built 1941 7,050 sqft lot $94/sqft · 59% below area

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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 +24.7/30.0
• 1% rule +8.3/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own this home for over $30,000 less than assessed value. !940's two bedroom ranch with full basement and vinyl siding. needs some repair but well priced for investor or a handy owner occupied buyer. This home qualifies for Homepath financing. Own for as little as 3% down! Fannie Mae is offering 1 3.5% incentive for buyers on all homes sold between 01/28 and 04/30/2010. Buyers purchasing homes that close within this period may receive up to 3.5% of the final sales price for closing costs, the purchase of new Whirlpool appliances or a combination of both.

Key facts

• 7,050 sq ft lot
• Built 1941
• Listed 36 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family property
• Construction: Vinyl siding; Asphalt shingle roof; Brick/mortar foundation; Built on a 0.162-acre lot (approx. 50 x 141)
• Exterior features: Rectangular lot; Concrete road surface

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($862 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 fast (+13.1%/yr); 154 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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).
• This rent is only 15% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 + 8.0% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.33% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 6.3

CMA / ARV

• ARV (median comp): $158,491
• List price: $64,900
• Delta: -59.05%
• 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
3007 Cornell St	0.25mi	2/1.0	692 (-0%)	4mo	$89,000	$129	85
2811 Oxford St	0.20mi	1/1.0 (-1)	664 (-4%)	3mo	$107,500	$162	76
2721 Cornell St	0.10mi	2/1.0	773 (+11%)	2mo	$169,900	$220	75
503 E Tiffin Ave	0.34mi	2/1.0	731 (+5%)	1mo	$120,000	$164	74
3220 Cornell St	0.41mi	2/1.0	720 (+4%)	4mo	$145,750	$202	72
2818 Bowdoin St	0.14mi	2/1.0	788 (+14%)	3mo	$157,500	$200	68
3701 Amherst St	0.67mi	2/1.0	704 (+1%)	1mo	$118,500	$168	66
2926 1st St	0.34mi	2/1.0	616 (-11%)	2mo	$145,000	$235	64
511 Ovid Ave	0.73mi	2/1.0	736 (+6%)	0mo	$152,500	$207	56
616 E Ovid Ave	0.50mi	2/1.0	780 (+12%)	1mo	$185,000	$237	55
3409 Bowdoin St	0.49mi	2/1.5	768 (+11%)	4mo	$179,000	$233	54
2342 York St	0.63mi	2/1.0	775 (+12%)	0mo	$144,000	$186	51

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $2,755
• Equity at exit: $9,677

10-year hold

• IRR: 18.0%
• Equity multiple: 2.90×
• Total profit: $34,552
• Equity at exit: $5,611

Cash invested: $18,172 (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 50313

• Rents YoY: 13.1%
• Active inventory: 154
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $862 high
• Mortgage (P&I): −$340
• Tax from tax record: −$178 /mo · $2,132/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $136

Break-even live

Break-even rent $690

Max offer price $64,900

Occupancy floor 79%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2303 E 9th St Des Moines, IA	1.0	1.0	500	$675	$1.35	43d	1	0.48mi
3419 1st St Unit 2 Des Moines, IA	1.0	1.0	546	$650	$1.19	43d	1	0.57mi
2342 E 13th St Unit C Des Moines, IA	1.0	1.0	450	$700	$1.56	43d	1	0.59mi
3623 Cambridge St Des Moines, IA	2.0	1.0	732	$1,145	$1.56	19d	1	0.67mi
1108 E Seneca Ave Apt 5 Des Moines, IA	1.0	1.0	680	$647	$0.95	23d	1	0.99mi
1108 E Seneca Ave Apt 1 Des Moines, IA	1.0	1.0	680	$647	$0.95	43d	1	1.00mi
1124 E Seneca Ave Apt 6 Des Moines, IA	1.0	1.0	550	$597	$1.09	23d	1	1.00mi
1124 E Seneca Ave Apt 8 Des Moines, IA	1.0	1.0	550	$597	$1.09	43d	1	1.00mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	43d	1	1.00mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	23d	1	1.00mi
3315 E 15th St Des Moines, IA	1.0	1.0	610	$785	$1.29	21d	2	1.00mi
1621 9th St Unit 1621-15 Des Moines, IA	1.0	1.0	625	$743	$1.19	43d	1	1.07mi
1621 9th St Unit 1613-01 Des Moines, IA	1.0	1.0	717	$776	$1.08	43d	1	1.07mi
3905 8th St Des Moines, IA	1.0	1.0	675	$895	$1.33	23d	1	1.09mi
1438 9th St Des Moines, IA	2.0	1.0	700	$745	$1.06	21d	1	1.24mi

Listing history 21 events

1. 2026-06-15
   days on market $64,900 Active 37 DOM
2. 2026-06-14
   days on market $64,900 Active 35 DOM
3. 2026-06-13
   pricedays on market $64,900 Active 34 DOM
4. 2026-06-10
   days on market $69,900 Active 32 DOM
5. 2026-06-09
   days on market $69,900 Active 31 DOM
6. 2026-06-08
   days on market $69,900 Active 30 DOM
7. 2026-06-07
   days on market $69,900 Active 29 DOM
8. 2026-06-05
   days on market $69,900 Active 26 DOM
9. 2026-06-03
   days on market $69,900 Active 25 DOM
10. 2026-06-03
    status $69,900 Active 24 DOM
11. 2026-05-18
    status Pending 757-char remark
12. 2026-05-08
    price $69,900 757-char remark
13. 2026-05-01
    price $74,900 757-char remark
14. 2026-04-24
    listed $79,900 Active 757-char remark
15. 2026-04-17
    soldstatus $50,000
16. 2011-12-19
    soldstatus $76,593
17. 2010-04-29
    soldstatus $30,000 559-char remark

    Show marketing remark (559 chars)

    Own this home for over $30,000 less than assessed value. !940's two bedroom ranch with full basement and vinyl siding. needs some repair but well priced for investor or a handy owner occupied buyer. This home qualifies for Homepath financing. Own for as little as 3% down! Fannie Mae is offering 1 3.5% incentive for buyers on all homes sold between 01/28 and 04/30/2010. Buyers purchasing homes that close within this period may receive up to 3.5% of the final sales price for closing costs, the purchase of new Whirlpool appliances or a combination of both.

18. 2010-03-09
    listed $39,900 559-char remark

    Show marketing remark (559 chars)

    Own this home for over $30,000 less than assessed value. !940's two bedroom ranch with full basement and vinyl siding. needs some repair but well priced for investor or a handy owner occupied buyer. This home qualifies for Homepath financing. Own for as little as 3% down! Fannie Mae is offering 1 3.5% incentive for buyers on all homes sold between 01/28 and 04/30/2010. Buyers purchasing homes that close within this period may receive up to 3.5% of the final sales price for closing costs, the purchase of new Whirlpool appliances or a combination of both.

19. 2006-01-13
    listed $69,900
20. 2005-09-12
    soldstatus $50,000
21. 2005-07-13
    listed $49,900

ⓘ 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: $2,132 · $178/mo
• Projected year-2 tax: $2,132 · $178/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: $10,341
• − Mortgage interest: −$3,635
• − Property taxes: −$2,132
• − Insurance: −$324
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$1,888
• Taxable income: $707
• Est. tax owed @ 24.0%: −$170
• After-tax cash flow: $1,459/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): 17,440
• Household income: $68,361
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 454.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 17% Black 11% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 3% Portuguese 2% Scotch-Irish 2%
• Foreign-born: 16% · Canada, Philippines, Vietnam
• Languages at home: 75% English-only · Spanish 14% Other Asian/Pacific 4% Russian/Polish/Slavic 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: ▼ -162.17%
• Current HPI: 285.5708
• Rent YoY: ▲ 13.11%
• 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

+30.1% since first listed

14 events — show timeline

• 2026-06-15 Listing Removed — DMMLS
• 2026-06-12 Price Changed $64,900 DMMLS
• 2026-06-02 Relisted — DMMLS
• 2026-05-18 Pending — DMMLS
• 2026-05-08 Price Changed $69,900 DMMLS
• 2026-05-01 Price Changed $74,900 DMMLS
• 2026-04-24 Listed $79,900 DMMLS
• 2026-04-17 Sold (Public Records) $50,000 Public Records
• 2011-12-19 Sold (Public Records) $76,593 Public Records
• 2010-04-29 Sold (MLS) $30,000 DMMLS
• 2010-03-09 Listed $39,900 DMMLS
• 2006-01-13 Listed $69,900 DMMLS
• 2005-09-12 Sold (Public Records) $50,000 Public Records
• 2005-07-13 Listed $49,900 DMMLS

Property tax history

+2.1%/yr

Latest (2025): $2,132 · +2.0% YoY. Source: county tax records.