1350 E 9th St · Des Moines, IA 50316

$64,900

4 bd · 1.0 ba · 1,106 sqft · SingleFamily public records · 80 Days on market

Built 1890 10,000 sqft lot $59/sqft · 65% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

Key facts

• 0.23 acre lot
• Built 1890
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $711 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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: Carver Elementary (math 30% / reading 24%, grade F, #607 of 616 statewide, top 99%, 423 students, 95% 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 89% FRL vs 63% district-wide (27 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 at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.40% ✓
• Cap rate: 19.44%
• Cash-on-cash: 46.94%
• DSCR: 3.09
• GRM: 3.5

CMA / ARV

• ARV (median comp): $184,476
• List price: $64,900
• Delta: -64.82%
• 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
105 E Washington Ave	0.26mi	3/1.5 (-1)	1,104 (-0%)	7mo	$139,000	$126	74
1613 York St	0.40mi	3/2.0 (-1)	1,103 (-0%)	2mo	$240,000	$218	70
1306 E 15th St	0.47mi	4/2.0	1,156 (+4%)	6mo	$279,900	$242	62
917 E 12th St	0.48mi	4/1.5	1,016 (-8%)	2mo	$195,000	$192	60
1822 E 14th St	0.58mi	3/1.0 (-1)	1,090 (-1%)	8mo	$144,900	$133	59
1530 Mattern Ave	0.73mi	3/1.0 (-1)	1,094 (-1%)	7mo	$187,500	$171	53
1096 Buchanan St	0.44mi	4/2.5	1,248 (+13%)	10mo	$228,000	$183	44
1523 Mccormick St	0.72mi	3/2.0 (-1)	1,056 (-4%)	9mo	$173,000	$164	43
1400 Mattern Ave	0.61mi	3/2.0 (-1)	988 (-11%)	3mo	$187,500	$190	42
1801 York St	0.52mi	3/2.0 (-1)	1,258 (+14%)	2mo	$172,000	$137	42
1427 Mattern Ave	0.62mi	3/2.0 (-1)	1,248 (+13%)	8mo	$176,000	$141	34
1420 Mccormick St	0.67mi	5/2.0 (+1)	952 (-14%)	9mo	$180,000	$189	29

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: 44.3%
• Equity multiple: 2.92×
• Total profit: $34,827
• Equity at exit: $9,677

10-year hold

• IRR: 50.3%
• Equity multiple: 5.89×
• Total profit: $88,900
• 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 50316

• Home prices YoY: -29.5%
• Active inventory: 106
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,558 high
• Mortgage (P&I): −$340
• Tax from tax record: −$152 /mo · $1,830/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $711

Break-even live

Break-even rent $658

Max offer price $64,900

Occupancy floor 49%

Sensitivity live

Price	-10% $748	-5% $729	+0% $711	+5% $693	+10% $674
Rent	-10% $588	-5% $649	+0% $711	+5% $772	+10% $834
Rate	-1.0pp $744	-0.5pp $727	base $711	+0.5pp $694	+1.0pp $677

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 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	25d	1	0.26mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	16d	1	0.39mi
922 Walker St Des Moines, IA	3.0	1.0	864	$1,295	$1.50	25d	1	0.51mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	16d	9	0.78mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$1,176	$1.71	16d	25	0.81mi
1513 Des Moines St Des Moines, IA	3.0	1.0	900	$995	$1.11	25d	1	0.89mi
1525 Des Moines St Des Moines, IA	3.0	1.0	928	$1,195	$1.29	45d	1	0.90mi
1713 Lyon St Des Moines, IA	3.0	1.0	834	$1,045	$1.25	23d	1	1.00mi
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	45d	1	1.10mi
1513 Dean Ave Des Moines, IA	4.0	1.0	1472	$1,795	$1.22	45d	1	1.13mi
2901 2nd Ave Des Moines, IA	5.0	2.0	1308	$1,850	$1.41	16d	1	1.36mi
1314 Harrison Ave Des Moines, IA	3.0	1.0	1150	$1,195	$1.04	25d	1	1.46mi

Listing history 25 events

1. 2026-06-21
   pricedays on market $64,900 Active 80 DOM
2. 2026-06-18
   days on market $69,900 Active 77 DOM
3. 2026-06-17
   days on market $69,900 Active 76 DOM
4. 2026-06-16
   days on market $69,900 Active 75 DOM
5. 2026-06-15
   days on market $69,900 Active 74 DOM
6. 2026-06-14
   days on market $69,900 Active 72 DOM
7. 2026-06-13
   days on market $69,900 Active 71 DOM
8. 2026-06-10
   days on market $69,900 Active 69 DOM
9. 2026-06-09
   days on market $69,900 Active 68 DOM
10. 2026-06-08
    days on market $69,900 Active 67 DOM
11. 2026-06-07
    days on market $69,900 Active 66 DOM
12. 2026-06-05
    days on market $69,900 Active 63 DOM
13. 2026-06-03
    days on market $69,900 Active 62 DOM
14. 2026-06-02
    days on market $69,900 Active 61 DOM
15. 2026-06-01
    days on market $69,900 Active 60 DOM
16. 2026-05-31
    days on market $69,900 Active 59 DOM
17. 2026-05-31
    days on market $69,900 Active 58 DOM
18. 2026-05-15
    price $69,900 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

19. 2026-05-08
    price $74,900 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

20. 2026-05-01
    price $79,900 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

21. 2026-04-24
    price $84,900 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

22. 2026-04-17
    price $89,900 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

23. 2026-04-09
    price $94,900 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

24. 2026-04-02
    listed $99,900 Active 760-char remark

    Show marketing remark (760 chars)

    Attention Investors: This charming 3-bedroom, 1-bath bungalow on the northeast side of Des Moines is the fixer-upper you’ve been waiting for. Located just minutes from downtown and the Des Moines River, this property is a handyman special priced as a bargain for those ready to build equity. Being sold as-is, this home is a prime candidate for a rehab or flip. Whether you are looking for a renovation project or a high-potential investment, the cozy layout provides a solid foundation for your vision. The seller is motivated and must sell, making this an ideal TLC project in an established neighborhood near trails and parks. Bring your tools and your vision to this high-potential fixer and capitalize on one of the city's most convenient locations.

25. 2026-03-26
    soldstatus $60,000

ⓘ 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: $1,830 · $152/mo
• Projected year-2 tax: $1,830 · $152/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: $18,695
• − Mortgage interest: −$3,635
• − Property taxes: −$1,830
• − Insurance: −$324
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$1,888
• Taxable income: $8,026
• Est. tax owed @ 24.0%: −$1,926
• After-tax cash flow: $6,604/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

+16.5% since first listed

8 events — show timeline

• 2026-05-15 Price Changed $69,900 DMMLS
• 2026-05-08 Price Changed $74,900 DMMLS
• 2026-05-01 Price Changed $79,900 DMMLS
• 2026-04-24 Price Changed $84,900 DMMLS
• 2026-04-17 Price Changed $89,900 DMMLS
• 2026-04-09 Price Changed $94,900 DMMLS
• 2026-04-02 Listed $99,900 DMMLS
• 2026-03-26 Sold (Public Records) $60,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,830 · -4.7% YoY. Source: county tax records.