3101 Cambridge St · Des Moines, IA 50313

$130,000

3 bd · 1.0 ba · 1,162 sqft · SingleFamily public records · 8 Days on market

Built 1942 6,550 sqft lot $112/sqft · 24% below area Est $171k · 24% under

---

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 +16.3/30.0
• ARV discount +15.0/15.0
• 1% rule +5.2/10.0
• DSCR +5.0/10.0
• 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

Great investment, close to elementary & Jr High, restaurants, grocery story and easy access to freeway. 2 car detached garage, great for hobbyist or car person. The Furnace, A/C and electrical panel all replaced 8 yrs ago. This home is ready for someone to give it new life.

Key facts

• Detached garage
• 6,550 sq ft lot
• 2 garage spots

Tags

• EASY ACCESS TO FREEWAY
• DETACHED GARAGE

Property features AI

Finance

• Financial info: Annual tax amount available
• HOA & community: Located in a senior community

Exterior

• Parking: Detached two-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Vinyl-sided exterior; Asphalt shingle roof; Block foundation
• Construction: Vinyl siding construction; Asphalt shingle roof; Block foundation
• Exterior features: Partial fencing; Fence

Interior

• Kitchen: Cooktop; Stove; Microwave; Dishwasher; Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dining area; Partially finished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $71 ($847/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 6.9% 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-, 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); 156 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $899 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $102k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 8.1

CMA / ARV

• ARV (median comp): $170,821
• List price: $130,000
• Delta: -23.90%
• 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
2919 1st St	0.15mi	3/1.0	1,153 (-1%)	0mo	$135,000	$117	91
3109 4th St	0.31mi	2/1.0 (-1)	1,156 (-0%)	2mo	$165,000	$143	78
3421 Amherst St	0.34mi	3/2.0	1,197 (+3%)	1mo	$205,000	$171	74
2915 3rd St	0.26mi	3/1.0	1,030 (-11%)	2mo	$173,000	$168	67
2915 4th St	0.33mi	3/1.0	1,042 (-10%)	1mo	$161,500	$155	66
3109 E 9th St	0.54mi	3/1.0	1,214 (+4%)	1mo	$237,500	$196	66
3006 3rd St	0.28mi	2/1.0 (-1)	1,274 (+10%)	2mo	$227,000	$178	64
3007 E 8th St	0.41mi	3/2.0	1,065 (-8%)	1mo	$181,000	$170	62
1305 E Oak Park Ave	0.71mi	3/1.5	1,223 (+5%)	0mo	$175,000	$143	56
3837 3rd St	0.58mi	3/1.0	1,292 (+11%)	2mo	$229,900	$178	53
2327 E 9th St	0.72mi	2/1.0 (-1)	1,034 (-11%)	1mo	$220,000	$213	42
4012 Amherst St	0.75mi	2/1.0 (-1)	1,008 (-13%)	1mo	$70,000	$69	37

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: -6.7%
• Equity multiple: 0.74×
• Total profit: $-9,472
• Equity at exit: $19,383

10-year hold

• IRR: 8.6%
• Equity multiple: 1.82×
• Total profit: $29,810
• Equity at exit: $11,240

Cash invested: $36,400 (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 50313

• Rents YoY: 13.1%
• Active inventory: 156
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,330 high
• Mortgage (P&I): −$682
• Tax from tax record: −$244 /mo · $2,928/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $71

Break-even live

Break-even rent $1,240

Max offer price $130,000

Occupancy floor 90%

Sensitivity live

Price	-10% $144	-5% $107	+0% $71	+5% $34	+10% $-3
Rent	-10% $-34	-5% $18	+0% $71	+5% $123	+10% $176
Rate	-1.0pp $136	-0.5pp $104	base $71	+0.5pp $37	+1.0pp $3

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3103 E 7th St Des Moines, IA	2.0	1.0	960	$1,200	$1.25	45d	1	0.34mi
3623 Cambridge St Des Moines, IA	2.0	1.0	732	$1,145	$1.56	20d	1	0.38mi
3410 5th Ave Des Moines, IA	4.0	2.0	1474	$1,550	$1.05	45d	1	0.47mi
4124 3rd St Des Moines, IA	3.0	1.0	996	$1,595	$1.60	15d	1	0.94mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	24d	1	1.09mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	45d	1	1.09mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	24d	1	1.20mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	15d	1	1.33mi
1438 9th St Des Moines, IA	2.0	1.0	700	$745	$1.06	22d	1	1.40mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	45d	1	1.40mi

Listing history 3 events

1. 2026-05-17
   status Pending 280-char remark
2. 2026-05-14
   listed $130,000 Active 280-char remark
3. 2005-04-20
   soldstatus $102,000

ⓘ 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: $2,928 · $244/mo
• Projected year-2 tax: $2,928 · $244/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: $15,957
• − Mortgage interest: −$7,282
• − Property taxes: −$2,928
• − Insurance: −$650
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$3,782
• Taxable loss: −$1,238
• Est. tax savings @ 24.0%: +$297
• After-tax cash flow: $1,144/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

+27.5% since first listed

5 events — show timeline

• 2026-05-27 Pending — DMMLS
• 2026-05-22 Relisted — DMMLS
• 2026-05-17 Pending — DMMLS
• 2026-05-14 Listed $130,000 DMMLS
• 2005-04-20 Sold (Public Records) $102,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,928 · +2.4% YoY. Source: county tax records.