1305 Stewart St · Des Moines, IA 50316

$99,900

3 bd · 1.0 ba · 800 sqft · SingleFamily public records · 10 Days on market

Built 1980 8,750 sqft lot Est $117k · 14% under

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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 +22.5/30.0
• ARV discount +14.0/15.0
• 1% rule +7.2/10.0
• DSCR +7.2/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity! 4 bedroom, 1.5 bath split foyer home tucked into a solid, mature neighborhood. Lots of space with 2 bedrooms up and 2 bedrooms down plus a finished basement and 2-car detached garage. Easy access to MLK Park and the Interstate. Sold As Is.

Key facts

• Finished basement
• 8,750 sq ft lot
• 2 garage spots

Tags

• FINISHED BASEMENT
• EASY ACCESS TO MLK PARK
• SOLID MATURE NEIGHBORHOOD

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential zoning; Concrete road frontage; Lot dimensions approximately 70 x 125
• Construction: Wood siding exterior; Asphalt shingle roof; Block foundation; Finished below-grade area
• Exterior features: Deck

Interior

• Kitchen: Microwave; Stove
• Bedrooms: Finished basement (finished area below grade)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Cable TV
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.3% 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: Garton Elementary (math 47% / reading 31%, grade F, #586 of 616 statewide, top 95%, 455 students, 88% 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 87% FRL vs 63% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 106 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $691 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $99,900

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 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: 1.22% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $116,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 Stewart St	0.00mi	4/1.5 (+1)	800 (0%)	1mo	$120,000	$150	92
1527 De Wolf St	0.31mi	3/2.0	798 (-0%)	4mo	$186,000	$233	78
1536 Stewart St	0.30mi	2/1.0 (-1)	816 (+2%)	3mo	$95,000	$116	75
2057 Maple St	0.55mi	2/1.0 (-1)	780 (-2%)	1mo	$165,000	$212	64
1345 Sampson St	0.26mi	3/1.0	900 (+12%)	4mo	$181,500	$202	63
1721 Des Moines St	0.49mi	2/1.0 (-1)	833 (+4%)	5mo	$95,000	$114	61
1740 E 21st St	0.61mi	2/1.0 (-1)	816 (+2%)	4mo	$85,200	$104	60
2034 Des Moines St	0.58mi	2/1.0 (-1)	768 (-4%)	5mo	$70,000	$91	58
1807 E Walnut St	0.69mi	3/2.0	840 (+5%)	3mo	$122,500	$146	53
1410 E 23rd St	0.69mi	2/1.0 (-1)	874 (+9%)	3mo	$164,500	$188	45
1348 Idaho St	0.60mi	2/1.0 (-1)	704 (-12%)	5mo	$71,500	$102	43
1603 Searle St	0.68mi	2/1.0 (-1)	698 (-13%)	4mo	$82,500	$118	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-5,362
• Equity at exit: $14,895

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $9,492
• Equity at exit: $8,638

Cash invested: $27,972 (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 50316

• Home prices YoY: -29.5%
• Active inventory: 106
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$524
• Tax from tax record: −$225 /mo · $2,700/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $169

Break-even live

Break-even rent $1,001

Max offer price $99,900

Occupancy floor 81%

Sensitivity live

Price	-10% $225	-5% $197	+0% $169	+5% $140	+10% $112
Rent	-10% $73	-5% $121	+0% $169	+5% $217	+10% $265
Rate	-1.0pp $219	-0.5pp $194	base $169	+0.5pp $143	+1.0pp $117

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1713 Lyon St Des Moines, IA	3.0	1.0	834	$1,045	$1.25	22d	1	0.42mi
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	45d	1	0.60mi
1364 Idaho St Des Moines, IA	2.0	1.0	804	$1,195	$1.49	25d	1	0.60mi
1525 Des Moines St Des Moines, IA	3.0	1.0	928	$1,195	$1.29	45d	1	0.64mi
1513 Des Moines St Des Moines, IA	3.0	1.0	900	$995	$1.11	25d	1	0.66mi
2120 Capitol Ave Des Moines, IA	3.0	1.0	973	$1,395	$1.43	45d	1	0.74mi
1301 E 12th St Unit 2 Des Moines, IA	2.0	1.0	995	$795	$0.80	25d	1	0.86mi
1726 E 24th St Des Moines, IA	3.0	1.0	850	$1,295	$1.52	45d	1	0.86mi
2121 E 23rd St Des Moines, IA	3.0	1.0	972	$1,395	$1.44	45d	1	1.00mi
922 Walker St Des Moines, IA	3.0	1.0	864	$1,295	$1.50	25d	1	1.01mi
2726 Des Moines St Des Moines, IA	2.0	1.0	975	$1,295	$1.33	45d	1	1.30mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$1,092	$1.59	15d	25	1.47mi

Listing history 6 events

1. 2026-05-01
   status Pending
2. 2026-04-21
   listed $99,900 Active
3. 2005-08-22
   soldstatus $85,000
4. 2005-08-22
   soldstatus $106,000
5. 2005-06-28
   soldstatus $85,000
6. 2005-02-11
   soldstatus $100,000

ⓘ 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: $2,700 · $225/mo
• Projected year-2 tax: $2,700 · $225/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: $14,571
• − Mortgage interest: −$5,596
• − Property taxes: −$2,700
• − Insurance: −$500
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$2,906
• Taxable income: $538
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $1,896/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
• City population: 203,612
• Population (ZIP): 16,188

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Black 12% Two or more races 12% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 1% Iranian 1%
• Foreign-born: 16% · Canada, Vietnam, Philippines
• Languages at home: 69% English-only · Spanish 20% Other Asian/Pacific 3% Vietnamese 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: ▼ -121.34%
• Current HPI: 290.3838
• Rent YoY: —
• Metro: —
• 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

-0.1% since first listed

6 events — show timeline

• 2026-05-01 Pending — DMMLS
• 2026-04-21 Listed $99,900 DMMLS
• 2005-08-22 Sold (Public Records) $106,000 Public Records
• 2005-08-22 Sold (Public Records) $85,000 Public Records
• 2005-06-28 Sold (Public Records) $85,000 Public Records
• 2005-02-11 Sold (Public Records) $100,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,700 · +2.3% YoY. Source: county tax records.