100 NE 5th Ct · Grimes, IA 50111

$105,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 5 Days on market

Built 1989 10,654 sqft lot

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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 +19.1/30.0
• ARV discount +7.5/15.0
• Schools +7.0/10.0
• 1% rule +6.9/10.0
• DSCR +6.0/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the growing community of Grimes! This 2-story home offers 3 bedrooms, 1 bath, and sits on a huge corner lot with plenty of space to expand, garden, or create your ideal outdoor setup. With solid potential and a functional layout, this property is perfect for investors or buyers looking to build equity. Conveniently located near local amenities and ongoing development, this home is being sold as-is—bring your vision and make it your own.

Key facts

• Huge corner lot
• Local amenities
• Ongoing development

Tags

• HUGE CORNER LOT
• LOCAL AMENITIES
• ONGOING DEVELOPMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 7.6% vs local median 2.3% in Grimes — 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 79/100 on livability (#106 in IA, #2,080 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Dallas Center-Grimes Community School District (rural): math 78% / reading 82% proficiency, ranked #19 of 289 in IA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 327 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 12% of the median local income ($121k/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 $726 of loan paydown is wiped out by about $3k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $105,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $284,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 NW 7th St	0.15mi	4/1.5 (+1)	1,026 (+3%)	0mo	$285,000	$278	81
1109 NE Jacob St	0.46mi	3/1.0	1,024 (+2%)	1mo	$234,500	$229	74
508 NE Jacob St	0.22mi	2/1.0 (-1)	908 (-9%)	5mo	$193,000	$213	65
612 NE 5th St	0.35mi	4/2.0 (+1)	928 (-7%)	3mo	$284,000	$306	60
513 NE 10th St	0.43mi	4/2.0 (+1)	930 (-7%)	1mo	$298,000	$320	59
902 NE 14th St	0.73mi	3/2.5	996 (-0%)	2mo	$320,000	$321	57
411 NW 7th St	0.26mi	4/2.0 (+1)	894 (-11%)	4mo	$253,750	$284	57
712 NE 9th St	0.46mi	3/1.5	880 (-12%)	2mo	$227,000	$258	55
709 NE 9th St	0.47mi	4/2.0 (+1)	930 (-7%)	3mo	$267,000	$287	55
621 NE 4th St	0.37mi	3/2.0	852 (-15%)	1mo	$270,000	$317	53
309 SE Jacob St	0.46mi	2/1.0 (-1)	895 (-10%)	5mo	$220,000	$246	52
100 NE Circle Dr	0.46mi	3/2.0	1,132 (+13%)	1mo	$270,000	$239	52

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.57×
• Total profit: $-12,557
• Equity at exit: $15,656

10-year hold

• IRR: -7.5%
• Equity multiple: 0.58×
• Total profit: $-12,292
• Equity at exit: $9,078

Cash invested: $29,400 (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 50111

• Home prices YoY: -11.1%
• Rents YoY: 0.7%
• Active inventory: 327
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$551
• Tax from tax record: −$280 /mo · $3,356/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $112

Break-even live

Break-even rent $1,106

Max offer price $105,000

Occupancy floor 86%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 NW 8th St Unit D1 Grimes, IA	2.0	2.0	900	$995	$1.11	44d	1	0.19mi
104 NW 8th St Unit E1 Grimes, IA	2.0	2.0	900	$995	$1.11	19d	1	0.19mi
501 NE Jacob St Grimes, IA	2.0	1.0	700	$900	$1.29	44d	1	0.23mi
411 W 1st St Grimes, IA	1.0–2.0	1.0	666	$825	$1.24	14d	4	0.34mi
410 SE 4th St Grimes, IA	2.0–3.0	1.0	875	$985	$1.13	14d	2	0.51mi
310 SE Gateway Dr Grimes, IA	2.0–3.0	1.5–2.0	900	$1,174	$1.30	14d	3	0.80mi
1951 N James St Unit 107 Grimes, IA	3.0	2.0	1150	$1,295	$1.13	14d	1	0.83mi
301 SE 11th St #706 Grimes, IA	2.0	2.5	1144	$1,750	$1.53	14d	1	0.87mi
1704 NE Gateway Ct Grimes, IA	3.0	1.0–2.0	945	$1,899	$2.01	14d	50	1.05mi
1250 SE 11th St Grimes, IA	1.0–3.0	1.0–2.0	921	$1,487	$1.61	14d	15	1.12mi
1360 NE Primrose Ln Grimes, IA	3.0	1.0–2.5	893	$1,700	$1.90	14d	37	1.24mi
935 SE Silkwood Ln Grimes, IA	1.0–2.0	1.0–2.0	914	$1,436	$1.57	14d	27	1.48mi

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-22
   listed $105,000 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: $3,356 · $280/mo
• Projected year-2 tax: $3,356 · $280/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,984
• − Mortgage interest: −$5,882
• − Property taxes: −$3,356
• − Insurance: −$525
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$3,055
• Taxable loss: −$230
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $1,404/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: Dallas Center-Grimes Community School District
• NCES district ID: 1908520
• Math proficiency: 78% ▼ -7.00%
• Reading proficiency: 82% ▼ -1.00%
• Median HH income: $73,781
• Composite: 69.92/100
• National rank: #285
• State rank: #19 of 289 in IA

Livability — Grimes

• Score: 79/100
• State rank: #106
• US rank: #2080

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety A- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grimes, IA
• County: Polk County · 453,298 people
• City population: 16,865
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 16,865
• Household income: $120,769
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 249.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 3% Italian 3% Iranian 2%
• Foreign-born: 6% · China, Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 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: ▼ -30.93%
• Current HPI: 249.0614
• Rent YoY: ▲ 0.71%
• 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

2 events — show timeline

• 2026-04-27 Pending — DMMLS
• 2026-04-22 Listed $105,000 DMMLS

Property tax history

+3.6%/yr

Latest (2025): $3,356 · -0.9% YoY. Source: county tax records.