234 58th St · Des Moines, IA 50312

$289,900

3 bd · 2.0 ba · 1,229 sqft · SingleFamily public records · 13 Days on market

Built 1966 10,018 sqft lot Est $272k · 7% over

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Why this score? — see what drove the F 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).

• ARV discount +4.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Cash flow +2.1/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

How would you like a four bedroom house with two car garage South of Grand and minutes from Hanawalt elementary, stores, restaurants and more for less than $300,000? Plus, new roof in 2017, new furnace and A/C in 2018, newly refinished deck, and new paint throughout. The main floor has a family room with windows to the front and back of the house, kitchen, two bedrooms and a bathroom. Upstairs is one large room that could be a bedroom, living space, or anything you want. Downstairs is the master suite with bedroom, bathroom, and a walkout basement. Out back is the oversized two car garage and still a backyard behind that. Come check out your new home today!

Key facts

• Expansive windows
• Huge deck
• Versatile floor plan

Tags

• EXPANSIVE WINDOWS
• VERSATILE FLOOR PLAN
• PRIVATE WALKOUT PRIMARY SUITE
• ADDITIONAL FLEX SPACE
• HUGE DECK
• AMPLE STORAGE

Property features AI

Finance

• Financial info: Annual tax information not included per instructions

Exterior

• Parking: Detached two-car garage
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Facing information not provided; Entry level information not provided; Property type and stories not provided
• Construction: Wood siding; Asphalt shingle roof; Block foundation; Portion of below-grade finished area (approximately 300)
• Exterior features: Deck; Patio; Covered patio/deck; Chain link fencing; Concrete road access; Rectangular lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Partially finished basement with walk-out access; Basement present
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (64.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (56.5% below list).
• Recommended offer: $103k (64.5% below list) — sets the bar for cash-flow.
• Cap rate 1.9% vs local median 3.1% in Des Moines — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 soft (-1.1%/yr); 145 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 16% of the median local income ($92k/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 $2k of loan paydown is wiped out by about $9k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y ago 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.

Recommended offer $102,771 (64.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.43% ✗
• Cap rate: 1.91%
• Cash-on-cash: -15.66%
• DSCR: 0.30
• GRM: 19.2

CMA / ARV

• ARV (on-the-fly): $271,609
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
336 59th St	0.15mi	3/1.0	1,203 (-2%)	3mo	$263,000	$219	83
5819 Grand Ave	0.18mi	3/1.0	1,283 (+4%)	2mo	$250,000	$195	79
343 58th St	0.13mi	3/1.0	1,305 (+6%)	2mo	$240,000	$184	78
5716 Ingersoll Ave	0.40mi	3/1.0	1,246 (+1%)	2mo	$370,000	$297	73
640 4th St	0.60mi	3/1.5	1,237 (+1%)	7mo	$245,000	$198	63
505 Valhigh Rd	0.70mi	3/2.0	1,263 (+3%)	2mo	$245,000	$194	61
5709 Walnut Hill Ave	0.29mi	3/1.5	1,381 (+12%)	6mo	$336,225	$243	59
114 SW 52nd St	0.48mi	3/2.0	1,344 (+9%)	6mo	$364,000	$271	57
228 Hillside Ave	0.50mi	3/1.5	1,318 (+7%)	9mo	$220,000	$167	55
1036 5th St	0.75mi	3/1.5	1,242 (+1%)	8mo	$275,000	$221	55
812 5th St	0.68mi	3/1.5	1,140 (-7%)	8mo	$255,000	$224	47
6205 Welker Ave	0.46mi	2/1.0 (-1)	1,052 (-14%)	0mo	$238,000	$226	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -49.8%
• Equity multiple: -0.45×
• Total profit: $-118,087
• Equity at exit: $43,225

10-year hold

• IRR: —
• Equity multiple: -1.51×
• Total profit: $-203,774
• Equity at exit: $25,065

Cash invested: $81,172 (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 50312

• Rents YoY: -1.1%
• Active inventory: 145
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $1,261 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$414 /mo · $4,970/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-1,059

Break-even live

Break-even rent $2,602

Max offer price $102,771

Occupancy floor —

Sensitivity live

Price	-10% $-895	-5% $-977	+0% $-1,059	+5% $-1,141	+10% $-1,223
Rent	-10% $-1,159	-5% $-1,109	+0% $-1,059	+5% $-1,009	+10% $-960
Rate	-1.0pp $-913	-0.5pp $-986	base $-1,059	+0.5pp $-1,134	+1.0pp $-1,211

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 Ashworth Rd West Des Moines, IA	2.0	1.0	800	$810	$1.01	24d	2	1.09mi
900 65th St Windsor Heights, IA	1.0–2.0	1.0–2.0	832	$1,475	$1.77	14d	5	1.11mi
1112 Vine St West Des Moines, IA	2.0	1.0	962	$1,895	$1.97	44d	1	1.17mi
1114 Vine St Unit 1124 Vine St-Unit 12 West Des Moines, IA	2.0	1.0	800	$775	$0.97	44d	1	1.19mi
1114 Vine St Unit 1114 Vine St-Unit 10 West Des Moines, IA	2.0	1.0	800	$795	$0.99	24d	1	1.19mi
1114 Vine St Unit 1124 Vine St-Unit 05 West Des Moines, IA	2.0	1.0	800	$825	$1.03	44d	1	1.19mi
432 Tonawanda Dr Unit 101 Des Moines, IA	2.0	1.0	800	$875	$1.09	44d	1	1.21mi
820 12th St West Des Moines, IA	2.0	1.5	900	$850	$0.94	24d	1	1.24mi
4000 Ingersoll Ave Des Moines, IA	3.0	1.0–2.0	1263	$5,511	$4.36	14d	1	1.31mi
708 13th St West Des Moines, IA	2.0	1.5	920	$850	$0.92	24d	1	1.32mi
3927 Ingersoll Ave Des Moines, IA	2.0	1.0	1050	$1,195	$1.14	44d	1	1.36mi
1148 63rd St Windsor Heights, IA	1.0–2.0	1.0–2.0	802	$1,700	$2.12	14d	3	1.38mi
4223 Chamberlain Ave Unit 4223-01 Des Moines, IA	2.0	1.0	700	$895	$1.28	44d	1	1.38mi
1145 65th St Windsor Heights, IA	2.0	1.0	905	$1,174	$1.30	24d	1	1.40mi
1215 Cummins Pkwy Des Moines, IA	2.0	2.0	1002	$1,350	$1.35	14d	1	1.42mi
1231 56th St Des Moines, IA	2.0	1.0	864	$1,300	$1.50	44d	1	1.43mi
1139 66th St Unit 1143 Windsor Heights, IA	2.0	2.0	1094	$1,195	$1.09	44d	1	1.43mi
1139 66th St Windsor Heights, IA	2.0	2.0	1500	$1,195	$0.80	14d	1	1.43mi
1200 Park Rd Ofc Park West Des Moines, IA	1.0–3.0	1.0–1.5	1150	$1,435	$1.25	24d	1	1.44mi
6500 University Ave Unit 307 Windsor Heights, IA	2.0	1.5	1420	$1,595	$1.12	19d	1	1.45mi
6500 University Ave Des Moines, IA	2.0	2.5	1420	$1,595	$1.12	14d	1	1.45mi
6000 Creston Ave Des Moines, IA	1.0–3.0	1.0–2.0	870	$1,175	$1.35	14d	47	1.45mi
1144 Polk Blvd Des Moines, IA	2.0	1.0	808	$1,200	$1.49	44d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $289,900 Active 13 DOM
2. 2026-06-17
   remarks 668-char remark
3. 2026-06-17
   days on market $289,900 Active 12 DOM
4. 2026-06-16
   days on market $289,900 Active 11 DOM
5. 2026-06-15
   days on market $289,900 Active 10 DOM
6. 2026-06-14
   days on market $289,900 Active 8 DOM
7. 2026-06-13
   days on market $289,900 Active 7 DOM
8. 2026-06-10
   days on market $289,900 Active 5 DOM
9. 2026-06-09
   days on market $289,900 Active 4 DOM
10. 2026-06-08
    days on market $289,900 Active 3 DOM
11. 2026-06-07
    remarks 667-char remark
12. 2026-06-07
    listed $289,900 Active 2 DOM

ⓘ 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: $4,970 · $414/mo
• Projected year-2 tax: $4,970 · $414/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 2/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,128
• − Mortgage interest: −$16,239
• − Property taxes: −$4,970
• − Insurance: −$1,450
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$8,433
• Taxable loss: −$18,384
• Est. tax savings @ 24.0%: +$4,412
• After-tax cash flow: $-8,299/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): 15,802
• Household income: $92,242
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 467.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 6% Two or more races 6% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 2% Chinese 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: ▼ -299.67%
• Current HPI: 235.9518
• Rent YoY: ▼ -1.13%
• 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

+56.8% since first listed

11 events — show timeline

• 2026-06-05 Listed $289,900 DMMLS
• 2023-11-20 Sold (Public Records) $270,000 Public Records
• 2023-11-17 Sold (MLS) $270,000 DMMLS
• 2023-10-26 Pending — DMMLS
• 2023-10-18 Price Changed $270,000 DMMLS
• 2023-10-13 Listed $280,000 DMMLS
• 2019-11-04 Listing Removed — DMMLS
• 2019-08-19 Listed $210,000 DMMLS
• 2017-07-28 Sold (Public Records) $187,500 Public Records
• 2017-07-27 Sold (MLS) $187,500 DMMLS
• 2017-05-16 Listed $184,900 DMMLS

Property tax history

+2.8%/yr

Latest (2025): $4,970 · +6.6% YoY. Source: county tax records.