2519 SE 6th St · Des Moines, IA 50315

$99,500

2 bd · 1.0 ba · 648 sqft · SingleFamily public records · 98 Days on market

Built 1900 9,900 sqft lot $154/sqft · 38% below area Est $161k · 38% under

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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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your next project awaits! This charming 2-bedroom, 1-bath home is ready for a new owner to bring it back to its full potential. With a little cosmetic updating, it could truly shine. Perfect for investors or DIY homeowners looking to build equity through improvements.

Key facts

• 9,900 sq ft lot
• Built 1900
• Listed 98 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+3.5%/yr); 227 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $688 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

• It's been on market 98 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,545 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.08% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (median comp): $161,441
• List price: $99,500
• Delta: -38.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2930 SE 7th St	0.28mi	2/1.0	709 (+9%)	5mo	$146,500	$207	67
3102 SE 8th St	0.35mi	2/1.0	597 (-8%)	10mo	$137,500	$230	62
609 E Virginia Ave	0.31mi	2/1.0	705 (+9%)	16mo	$191,000	$271	57
437 E Dunham Ave	0.72mi	2/1.0	660 (+2%)	9mo	$160,000	$242	55
1534 King Ave	0.64mi	2/2.0	672 (+4%)	6mo	$197,000	$293	55
1435 E Creston Ave	0.51mi	2/1.0	672 (+4%)	18mo	$151,500	$225	54
414 Hartford Ave	0.58mi	2/1.0	672 (+4%)	18mo	$165,000	$246	52
423 Pioneer Rd	0.31mi	2/1.0	720 (+11%)	24mo	$169,000	$235	47
1524 E Virginia Ave	0.67mi	2/2.0	720 (+11%)	11mo	$122,000	$169	37
515 E Dunham Ave	0.71mi	2/1.0	737 (+14%)	17mo	$151,500	$206	30

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 · 3.48% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-3,470
• Equity at exit: $14,836

10-year hold

• IRR: 6.9%
• Equity multiple: 1.53×
• Total profit: $14,742
• Equity at exit: $8,603

Cash invested: $27,860 (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 50315

• Rents YoY: 3.5%
• Active inventory: 227
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$522
• Tax from tax record: −$91 /mo · $1,096/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $191

Break-even live

Break-even rent $829

Max offer price $99,500

Occupancy floor 77%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3130 Indianola Ave Des Moines, IA	1.0–2.0	1.0	900	$1,495	$1.66	43d	1	0.49mi
3310 SE 5th St Des Moines, IA	2.0	1.0	700	$1,150	$1.64	43d	1	0.57mi
824 Hartford Ave Des Moines, IA	2.0	1.0	730	$975	$1.34	23d	1	0.58mi
822 Hartford Ave Des Moines, IA	2.0	1.0	710	$975	$1.37	43d	1	0.58mi
828 Hartford Ave Des Moines, IA	2.0	1.0	710	$975	$1.37	43d	1	0.58mi
116 Park Ave Des Moines, IA	2.0	1.0	728	$1,200	$1.65	43d	1	0.78mi
1512 Evergreen Ave Des Moines, IA	1.0–2.0	1.0–2.0	756	$970	$1.28	19d	3	0.87mi
612 Bancroft St Unit 618-2 Des Moines, IA	1.0	1.0	525	$775	$1.48	19d	1	0.94mi
701 Loomis Ave Unit 7011 Des Moines, IA	2.0	1.0	600	$800	$1.33	14d	1	0.96mi
1300 E Watrous Ave Des Moines, IA	1.0	1.0	650	$756	$1.16	14d	3	1.00mi
1405 SE 1st St Des Moines, IA	1.0–2.0	1.0–2.0	802	$1,435	$1.79	14d	8	1.07mi
100 Jackson Ave Des Moines, IA	3.0	1.0–2.0	885	$1,461	$1.65	14d	21	1.13mi
4221 SE 13th St Des Moines, IA	1.0	1.0	650	$650	$1.00	23d	1	1.17mi
2000 E Virginia Ave Des Moines, IA	1.0–2.0	1.0	725	$808	$1.11	14d	6	1.28mi
580 SW 9th St Unit 302 Des Moines, IA	1.0	1.0	650	$1,275	$1.96	23d	1	1.47mi
401 SE 6th St Des Moines, IA	1.0–2.0	1.0	764	$1,397	$1.83	14d	6	1.48mi
2111 E Caulder Ave Des Moines, IA	1.0–2.0	1.0	775	$1,000	$1.29	19d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $99,500 Active 98 DOM
2. 2026-06-17
   days on market $99,500 Active 97 DOM
3. 2026-06-16
   days on market $99,500 Active 96 DOM
4. 2026-06-15
   days on market $99,500 Active 95 DOM
5. 2026-06-14
   days on market $99,500 Active 93 DOM
6. 2026-06-13
   days on market $99,500 Active 92 DOM
7. 2026-06-10
   days on market $99,500 Active 90 DOM
8. 2026-06-09
   days on market $99,500 Active 89 DOM
9. 2026-06-08
   days on market $99,500 Active 88 DOM
10. 2026-06-07
    days on market $99,500 Active 87 DOM
11. 2026-06-05
    days on market $99,500 Active 84 DOM
12. 2026-06-03
    days on market $99,500 Active 83 DOM
13. 2026-06-02
    days on market $99,500 Active 82 DOM
14. 2026-06-01
    days on market $99,500 Active 81 DOM
15. 2026-05-31
    days on market $99,500 Active 80 DOM
16. 2026-05-31
    days on market $99,500 Active 79 DOM
17. 2026-03-12
    listed $99,500 Active 268-char remark

    Show marketing remark (268 chars)

    Your next project awaits! This charming 2-bedroom, 1-bath home is ready for a new owner to bring it back to its full potential. With a little cosmetic updating, it could truly shine. Perfect for investors or DIY homeowners looking to build equity through improvements.

ⓘ 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: $1,096 · $91/mo
• Projected year-2 tax: $1,329 · $111/mo
• Expected delta: +$233/yr (+$19/mo · 21.3%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,838
• − Mortgage interest: −$5,574
• − Property taxes: −$1,096
• − Insurance: −$498
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$2,895
• Taxable income: $722
• Est. tax owed @ 24.0%: −$173
• After-tax cash flow: $2,114/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): 34,816
• Household income: $60,590
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1072.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 19% Two or more races 11% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, Philippines
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -259.03%
• Current HPI: 269.7231
• Rent YoY: ▲ 3.48%
• 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

1 event — show timeline

• 2026-03-12 Listed $99,500 DMMLS

Property tax history

+2.5%/yr

Latest (2025): $1,096 · +2.8% YoY. Source: county tax records.