2710 E Washington Ave · Des Moines, IA 50317

$75,000

2 bd · 1.0 ba · 616 sqft · SingleFamily public records · 155 Days on market

Built 1924 4,800 sqft lot $122/sqft · 46% below area Est $140k · 46% under

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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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• 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 MLS

Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

Key facts

• 4,800 sq ft lot
• Built 1924
• Listed 155 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($921 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+2.3%/yr); 357 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 17% of the median local income ($66k/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 $519 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 $21k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $40k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.23% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.13%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $139,910
• List price: $75,000
• Delta: -46.39%
• 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
2710 E Washington Ave	0.00mi	2/1.0	616 (0%)	1mo	$75,000	$122	99
1312 E 27th Ct	0.31mi	2/1.0	616 (0%)	1mo	$68,100	$111	84
1904 E 27th St	0.21mi	2/2.0	572 (-7%)	1mo	$139,900	$245	73
2021 E 25th St	0.44mi	2/1.0	635 (+3%)	6mo	$124,900	$197	69
2741 E Washington Ave	0.08mi	3/1.0 (+1)	704 (+14%)	2mo	$152,080	$216	66
3121 Mahaska Ave	0.61mi	2/1.0	660 (+7%)	2mo	$154,000	$233	58
1219 E 32nd St	0.68mi	2/1.0	660 (+7%)	2mo	$125,000	$189	54
3108 Kinsey Ave	0.44mi	3/1.0 (+1)	672 (+9%)	6mo	$152,500	$227	54
2204 Lay St	0.58mi	2/1.0	690 (+12%)	4mo	$189,900	$275	50
2916 Walker St	0.62mi	2/2.0	672 (+9%)	4mo	$175,000	$260	49
1603 E 22nd St	0.67mi	3/1.0 (+1)	672 (+9%)	1mo	$174,000	$259	48
1603 Searle St	0.60mi	2/1.0	698 (+13%)	4mo	$82,500	$118	46

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $722
• Equity at exit: $11,183

10-year hold

• IRR: 9.8%
• Equity multiple: 1.74×
• Total profit: $15,439
• Equity at exit: $6,485

Cash invested: $21,000 (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: 357
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $921 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $212

Break-even live

Break-even rent $652

Max offer price $75,000

Occupancy floor 72%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 E 37th Ct Des Moines, IA	2.0	1.0	560	$950	$1.70	23d	1	1.25mi
2555 Wedgewood Rd Des Moines, IA	1.0	1.0	650	$750	$1.15	14d	1	1.26mi
2938 E Euclid Ave Unit 2 Des Moines, IA	2.0	1.0	575	$650	$1.13	14d	1	1.41mi

Listing history 16 events

1. 2026-05-19
   status Pending 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

2. 2026-04-30
   price $75,000 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

3. 2026-04-08
   price $79,900 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

4. 2026-02-26
   price $84,900 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

5. 2026-02-13
   price $89,900 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

6. 2026-01-30
   price $94,900 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

7. 2026-01-06
   price $104,900 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

8. 2025-12-15
   listed $115,000 Active 570-char remark

   Show marketing remark (570 chars)

   Discover the potential in this two-bedroom, one-bath home located just steps from the bus line and everyday conveniences. This property offers an excellent opportunity for buyers who are handy with tools or looking for their next project. With the chance to gain instant equity, priced $30,400 below market assessed value, this home is ideal for DIY enthusiasts and savvy home flippers. Bring your ideas and vision to unlock the possibilities. Don’t miss out on this rare value opportunity, call today to schedule your private showing! Home is in NFC lending area!

9. 2018-01-26
   soldstatus $69,900 431-char remark

   Show marketing remark (431 chars)

   Fully renovated home that features all new plumbing and electric, all new sheet rock and paint on the main level, complete new kitchen and bathroom, updated windows, new flooring, and much more. The outside has new seemless gutters and a new stretch of fence. This home comes with a 10 year tax abatement on the value of the improvements done. All this and the seller is willing to negotiate a new AC unit with an acceptable offer.

10. 2018-01-24
    soldstatus $70,000
11. 2017-09-07
    listed $69,900 431-char remark

    Show marketing remark (431 chars)

    Fully renovated home that features all new plumbing and electric, all new sheet rock and paint on the main level, complete new kitchen and bathroom, updated windows, new flooring, and much more. The outside has new seemless gutters and a new stretch of fence. This home comes with a 10 year tax abatement on the value of the improvements done. All this and the seller is willing to negotiate a new AC unit with an acceptable offer.

12. 2017-08-28
    historical
13. 2017-07-14
    listed $79,900
14. 2017-02-07
    soldstatus $24,000
15. 2015-10-13
    historical
16. 2015-08-11
    listed $34,900

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $1,133 · $94/mo
• Expected delta: +$45/yr (+$4/mo · 4.1%)

ⓘ 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: $11,050
• − Mortgage interest: −$4,201
• − Property taxes: −$1,088
• − Insurance: −$375
• − Repairs & maintenance: −$884
• − Management: −$884
• − Depreciation: −$2,182
• Taxable income: $1,436
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $2,202/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

+114.9% since first listed

16 events — show timeline

• 2026-05-19 Pending — DMMLS
• 2026-04-30 Price Changed $75,000 DMMLS
• 2026-04-08 Price Changed $79,900 DMMLS
• 2026-02-26 Price Changed $84,900 DMMLS
• 2026-02-13 Price Changed $89,900 DMMLS
• 2026-01-30 Price Changed $94,900 DMMLS
• 2026-01-06 Price Changed $104,900 DMMLS
• 2025-12-15 Listed $115,000 DMMLS
• 2018-01-26 Sold (MLS) $69,900 DMMLS
• 2018-01-24 Sold (Public Records) $70,000 Public Records
• 2017-09-07 Listed $69,900 DMMLS
• 2017-08-28 Listing Removed — DMMLS
• 2017-07-14 Listed $79,900 DMMLS
• 2017-02-07 Sold (Public Records) $24,000 Public Records
• 2015-10-13 Listing Removed — DMMLS
• 2015-08-11 Listed $34,900 DMMLS

Property tax history

+4.3%/yr

Latest (2025): $1,088 · +2.1% YoY. Source: county tax records.