1600 E 13th St · Des Moines, IA 50316

$155,000

3 bd · 1.0 ba · 1,618 sqft · SingleFamily public records · 40 Days on market

Built 1924 4,960 sqft lot $96/sqft · 22% below area Est $200k · 22% 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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +5.0/10.0
• 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

1600 E 13th Street offers an excellent opportunity for investors, renovators, or buyers looking to create value. Currently offered at the “as-is” price of $155,000, this property has strong potential with a remodeled price at 219,000. Previously used as an investment property, this home is ready for updates and improvements to unlock its full potential. Included photos showcase both the current “as-is” condition as well as proposed/similar remodel images to help buyers envision the possibilities and future finished product. Whether you’re looking for your next flip project, rental investment, or a home to customize to your style, this property presents a great

Key facts

• 4,960 sq ft lot
• Built 1924
• Listed 40 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story building
• Construction: Metal siding; Block foundation; Asphalt shingle roof
• Exterior features: Concrete road frontage

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (0.4% below list).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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: Cattell Elementary School (math 42% / reading 42%, grade F, #563 of 616 statewide, top 93%, 322 students, 85% FRL); Harding Middle School (math 31% / reading 30%, grade F, #245 of 246 statewide, top 100%, 655 students, 90% FRL); North High School (math 33% / reading 45%, grade F, #326 of 336 statewide, top 97%, 1,458 students, 87% FRL) — zoned schools average 87% FRL vs 63% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 106 active listings in the ZIP; 6 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 $1k of loan paydown is wiped out by about $5k 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 40 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 8.4

CMA / ARV

• ARV (median comp): $199,620
• List price: $155,000
• Delta: -22.35%
• 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
1501 Osceola Ave	0.29mi	3/2.0	1,571 (-3%)	3mo	$204,000	$130	75
2015 York St	0.35mi	3/1.0	1,492 (-8%)	2mo	$130,000	$87	69
1331 Mattern Ave	0.26mi	3/1.5	1,410 (-13%)	0mo	$196,000	$139	64
2220 E 13th St	0.48mi	3/2.5	1,558 (-4%)	3mo	$320,000	$205	63
1225 E 13th St	0.46mi	3/1.0	1,408 (-13%)	6mo	$165,000	$117	52
2318 E 11th St	0.55mi	4/1.0 (+1)	1,456 (-10%)	1mo	$204,400	$140	52
2119 E 12th St	0.42mi	4/1.5 (+1)	1,433 (-11%)	9mo	$145,000	$101	47
1457 Guthrie Ave	0.55mi	2/1.0 (-1)	1,410 (-13%)	2mo	$192,000	$136	46
737 Sandahl Ave	0.66mi	4/1.0 (+1)	1,495 (-8%)	8mo	$194,000	$130	46
2416 York St	0.66mi	4/2.0 (+1)	1,496 (-8%)	3mo	$176,021	$118	45
1432 Mccormick St	0.50mi	3/2.0	1,415 (-12%)	8mo	$230,000	$163	45
1106 Arthur Ave	0.70mi	3/1.0	1,414 (-13%)	5mo	$153,000	$108	42

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-17,294
• Equity at exit: $23,111

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-4,876
• Equity at exit: $13,402

Cash invested: $43,400 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,543 high
• Mortgage (P&I): −$813
• Tax from tax record: −$220 /mo · $2,636/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $122

Break-even live

Break-even rent $1,389

Max offer price $155,000

Occupancy floor 87%

Sensitivity live

Price	-10% $210	-5% $166	+0% $122	+5% $78	+10% $34
Rent	-10% $0	-5% $61	+0% $122	+5% $183	+10% $244
Rate	-1.0pp $200	-0.5pp $162	base $122	+0.5pp $82	+1.0pp $41

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.08mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	15d	1	0.17mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	45d	1	0.26mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	15d	9	1.10mi
1513 Dean Ave Des Moines, IA	4.0	1.0	1472	$1,795	$1.22	45d	1	1.28mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,500	$2.04	15d	4	1.30mi

Listing history 20 events

1. 2026-06-21
   days on market $155,000 Active 40 DOM
2. 2026-06-18
   days on market $155,000 Active 37 DOM
3. 2026-06-17
   days on market $155,000 Active 36 DOM
4. 2026-06-16
   days on market $155,000 Active 35 DOM
5. 2026-06-15
   days on market $155,000 Active 34 DOM
6. 2026-06-14
   days on market $155,000 Active 32 DOM
7. 2026-06-13
   days on market $155,000 Active 31 DOM
8. 2026-06-10
   days on market $155,000 Active 29 DOM
9. 2026-06-09
   days on market $155,000 Active 28 DOM
10. 2026-06-08
    days on market $155,000 Active 27 DOM
11. 2026-06-07
    days on market $155,000 Active 26 DOM
12. 2026-06-05
    days on market $155,000 Active 23 DOM
13. 2026-06-03
    days on market $155,000 Active 22 DOM
14. 2026-06-02
    days on market $155,000 Active 21 DOM
15. 2026-06-01
    days on market $155,000 Active 20 DOM
16. 2026-05-31
    days on market $155,000 Active 19 DOM
17. 2026-05-31
    days on market $155,000 Active 18 DOM
18. 2026-05-08
    listed $155,000 Active 842-char remark
19. 2025-03-04
    soldstatus $138,000
20. 2004-08-24
    soldstatus $63,500

ⓘ 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: $2,636 · $220/mo
• Projected year-2 tax: $2,636 · $220/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: $18,521
• − Mortgage interest: −$8,682
• − Property taxes: −$2,636
• − Insurance: −$775
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$4,509
• Taxable loss: −$1,045
• Est. tax savings @ 24.0%: +$251
• After-tax cash flow: $1,717/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

+144.1% since first listed

3 events — show timeline

• 2026-05-08 Listed $155,000 DMMLS
• 2025-03-04 Sold (Public Records) $138,000 Public Records
• 2004-08-24 Sold (Public Records) $63,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,636 · +2.0% YoY. Source: county tax records.