1747 Capitol Ave · Des Moines, IA 50316

$120,000

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 7 Days on market

Built 1900 4,840 sqft lot Est $152k · 21% 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.4/10.0
• 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 MLS

Contract Terms Available! Over 1000 square feet on the main level of this vacant ranch that offers 2 beds, 1 bath, and a large detached garage. Features of the home include: All appliances included in the sale, enclosed front porch, updated flooring, open kitchen, 16x20' detached garage with walk door, newer roof, and a great layout with potential for the lower level to have future finish or great storage. Very easy to show and immediate occupancy is available, please call an agent today for a private tour.

Key facts

• Manageable lot
• Full basement
• Enclosed porch

Tags

• ENCLOSED PORCH
• FULL BASEMENT
• DETACHED GARAGE
• MANAGEABLE LOT
• EASY ACCESS TO DOWNTOWN

Property features AI

Finance

• Financial info: Annual tax amount available

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Resale property
• Construction: Asbestos siding/materials; Asphalt shingle roof; Poured foundation; Built on a 0.111-acre lot
• Exterior features: Asphalt road frontage; Lot dimensions approximately 40 x 121

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Gas (natural gas) heating
• Interior features: Unfinished basement; Carpet flooring
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.7% 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: 105 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $830 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 5y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $120,000

Questions for the listing agent

1. Built in 1900 — 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: 1.14% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $152,424
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1804 Capitol Ave	0.05mi	2/2.0	1,126 (+8%)	4mo	$164,900	$146	78
1547 Des Moines St	0.32mi	2/1.0	1,021 (-2%)	10mo	$39,000	$38	73
2123 Des Moines St	0.49mi	3/1.0 (+1)	1,050 (+1%)	7mo	$159,000	$151	65
1709 E Walnut St	0.12mi	3/1.5 (+1)	927 (-11%)	6mo	$205,000	$221	64
1804 Des Moines St	0.17mi	3/1.0 (+1)	1,193 (+14%)	7mo	$168,000	$141	58
1714 E Walnut St	0.09mi	3/2.0 (+1)	1,190 (+14%)	9mo	$95,000	$80	56
1551 E Court Ave	0.41mi	3/1.5 (+1)	1,097 (+5%)	12mo	$218,000	$199	56
2224 Capitol Ave	0.58mi	3/2.0 (+1)	1,082 (+4%)	3mo	$110,000	$102	55
2069 E Grand Ave	0.42mi	3/2.0 (+1)	1,125 (+8%)	4mo	$117,500	$104	55
1527 Walker St	0.49mi	3/2.0 (+1)	1,120 (+7%)	11mo	$270,000	$241	47
1356 E 17th Ct	0.73mi	3/1.5 (+1)	1,172 (+12%)	10mo	$140,000	$119	30
1255 E 21st St	0.66mi	3/1.0 (+1)	893 (-14%)	12mo	$175,000	$196	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-4,134
• Equity at exit: $17,892

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $16,200
• Equity at exit: $10,375

Cash invested: $33,600 (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: 105
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,374 high
• Mortgage (P&I): −$629
• Tax from tax record: −$166 /mo · $1,994/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $240

Break-even live

Break-even rent $1,070

Max offer price $120,000

Occupancy floor 78%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	43d	1	0.16mi
1713 Lyon St Des Moines, IA	3.0	1.0	834	$1,045	$1.25	21d	1	0.26mi
1525 Des Moines St Des Moines, IA	3.0	1.0	928	$1,195	$1.29	43d	1	0.39mi
2120 Capitol Ave Des Moines, IA	3.0	1.0	973	$1,395	$1.43	43d	1	0.41mi
1513 Des Moines St Des Moines, IA	3.0	1.0	900	$995	$1.11	23d	1	0.41mi
922 Walker St Des Moines, IA	3.0	1.0	864	$1,295	$1.50	23d	1	0.97mi
1364 Idaho St Des Moines, IA	2.0	1.0	804	$1,195	$1.49	23d	1	0.99mi
1301 E 12th St Unit 2 Des Moines, IA	2.0	1.0	995	$795	$0.80	23d	1	1.08mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	14d	1	1.17mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	43d	1	1.18mi
2726 Des Moines St Des Moines, IA	2.0	1.0	975	$1,295	$1.33	43d	1	1.19mi
601 E Vine St Des Moines, IA	2.0	1.0–2.0	730	$1,595	$2.18	19d	19	1.21mi
201 SE 6th St Des Moines, IA	2.0	1.0–2.0	835	$1,660	$1.99	14d	11	1.25mi
401 SE 6th St Des Moines, IA	1.0–2.0	1.0	764	$1,397	$1.83	14d	6	1.26mi
910 E Railroad Ave Des Moines, IA	2.0	1.0	768	$925	$1.20	43d	1	1.26mi
309 E 5th St #406 Des Moines, IA	1.0	1.0	1057	$1,700	$1.61	43d	1	1.27mi
1726 E 24th St Des Moines, IA	3.0	1.0	850	$1,295	$1.52	43d	1	1.27mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	23d	1	1.33mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$1,008	$1.47	14d	25	1.35mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,500	$2.04	14d	4	1.39mi
350 E Locust St Unit 403 Des Moines, IA	1.0	1.0	800	$1,200	$1.50	43d	1	1.39mi
333 E Grand Ave Des Moines, IA	2.0	1.0–2.0	668	$1,450	$2.17	23d	4	1.40mi
2925 Maple St Des Moines, IA	3.0	1.0	1270	$1,500	$1.18	23d	1	1.44mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,028	$1.75	14d	9	1.45mi
2121 E 23rd St Des Moines, IA	3.0	1.0	972	$1,395	$1.44	43d	1	1.49mi

Listing history 8 events

1. 2026-06-19
   price $120,000 Active 7 DOM
2. 2026-06-18
   days on market $129,000 Active 7 DOM
3. 2026-06-17
   days on market $129,000 Active 6 DOM
4. 2026-06-16
   days on market $129,000 Active 5 DOM
5. 2026-06-15
   days on market $129,000 Active 4 DOM
6. 2026-06-14
   days on market $129,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $129,000 Active 1 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: $1,994 · $166/mo
• Projected year-2 tax: $1,994 · $166/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,487
• − Mortgage interest: −$6,722
• − Property taxes: −$1,994
• − Insurance: −$600
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$3,491
• Taxable income: $1,042
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $2,629/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

+98.5% since first listed

20 events — show timeline

• 2026-06-11 Listed $129,000 DMMLS
• 2022-07-22 Sold (Public Records) $95,000 Public Records
• 2022-07-21 Sold (MLS) $95,000 DMMLS
• 2022-06-16 Pending — DMMLS
• 2022-06-14 Relisted — DMMLS
• 2022-06-13 Relisted — DMMLS
• 2022-05-31 Listing Removed — DMMLS
• 2022-04-13 Pending — DMMLS
• 2022-04-11 Relisted — DMMLS
• 2022-02-18 Pending — DMMLS
• 2022-02-13 Relisted — DMMLS
• 2022-01-18 Pending — DMMLS
• 2022-01-12 Price Changed $95,000 DMMLS
• 2021-11-18 Price Changed $104,900 DMMLS
• 2021-11-08 Listed $115,000 DMMLS
• 2021-09-09 Price Changed $115,000 DMMLS
• 2021-09-01 Price Changed $117,500 DMMLS
• 2021-08-23 Listed $119,900 DMMLS
• 2021-01-14 Sold (Public Records) $108,000 Public Records
• 2005-05-17 Sold (Public Records) $65,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,994 · +2.0% YoY. Source: county tax records.