300 2nd St NE · Mitchellville, IA 50169

$125,000

2 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 145 Days on market

Built 1900 9,640 sqft lot $117/sqft · 47% below area Est $234k · 47% under

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Why this score? — see what drove the D 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 +15.0/15.0
• Cash flow +7.8/30.0
• Schools +6.4/10.0
• Livability +3.7/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 300 2nd St in Mitchellville, a beautiful 3-bedroom, 1-bath home that combines comfort, value, and a fantastic location. This well-maintained property sits on an amazing yard, offering plenty of space for outdoor living, gardening, pets, and play. Inside, you’ll find a warm and inviting layout with comfortable living spaces and a functional floor plan that fits a variety of lifestyles. Whether you're a first-time buyer, downsizing, or investing, this home checks all the boxes. Located in a highly regarded school district, this property delivers not only affordability but also peace of mind and long-term value. Enjoy small-town charm with easy access to Des Moines and surrounding communities. Don’t miss your chance to own a great home at a very affordable price—schedule your showing today!

Key facts

• 9,640 sq ft lot
• Built 1900
• Listed 144 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (25.1% below list).
• Recommended offer: $94k (25.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#267 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Southeast Polk Community School District (rural): math 73% / reading 73% proficiency, ranked #70 of 289 in IA (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 28 active listings in the ZIP; 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 $864 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

• It's been on market 145 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.
• Current owner paid $92k; 36% 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 $93,653 (25.1% 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. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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: 0.75% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.81%
• DSCR: 0.79
• GRM: 11.1

CMA / ARV

• ARV (median comp): $233,938
• List price: $125,000
• Delta: -46.57%
• 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
209 3rd St NE	0.13mi	2/1.0	1,058 (-1%)	1mo	$165,000	$156	91
313 2nd St NE	0.08mi	2/1.0	1,086 (+2%)	17mo	$133,000	$122	80
210 3rd St NE	0.09mi	2/1.0	1,128 (+5%)	9mo	$188,000	$167	79
202 Oak Ave NE	0.09mi	3/1.0 (+1)	1,188 (+11%)	11mo	$240,000	$202	63
309 Vine Ave NE	0.23mi	3/2.5 (+1)	1,036 (-3%)	18mo	$255,000	$246	58
210 Market Ave SW	0.42mi	3/2.0 (+1)	971 (-9%)	2mo	$252,000	$260	54
209 Market Ave SW	0.39mi	3/1.0 (+1)	960 (-10%)	9mo	$210,000	$219	52
200 6th St NE	0.34mi	2/1.0	960 (-10%)	22mo	$198,000	$206	49
410 4th St NW	0.67mi	3/1.5 (+1)	1,190 (+11%)	3mo	$244,000	$205	40
207 5th St NW	0.46mi	3/3.0 (+1)	1,208 (+13%)	19mo	$256,000	$212	28

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: -24.4%
• Equity multiple: 0.17×
• Total profit: $-29,163
• Equity at exit: $18,638

10-year hold

• IRR: -19.8%
• Equity multiple: -0.05×
• Total profit: $-36,798
• Equity at exit: $10,808

Cash invested: $35,000 (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 50169

• Home prices YoY: -14.7%
• Active inventory: 28
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $937 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$172 /mo · $2,070/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $-140

Break-even live

Break-even rent $1,114

Max offer price $100,226

Occupancy floor —

Sensitivity live

Price	-10% $-69	-5% $-105	+0% $-140	+5% $-176	+10% $-211
Rent	-10% $-214	-5% $-177	+0% $-140	+5% $-103	+10% $-66
Rate	-1.0pp $-77	-0.5pp $-108	base $-140	+0.5pp $-173	+1.0pp $-206

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-09
   days on market $125,000 Active 145 DOM
2. 2026-06-08
   days on market $125,000 Active 144 DOM
3. 2026-06-07
   days on market $125,000 Active 143 DOM
4. 2026-06-03
   days on market $125,000 Active 139 DOM
5. 2026-06-02
   days on market $125,000 Active 138 DOM
6. 2026-06-01
   days on market $125,000 Active 137 DOM
7. 2026-05-31
   days on market $125,000 Active 136 DOM
8. 2026-05-31
   days on market $125,000 Active 135 DOM
9. 2026-04-22
   price $125,000 827-char remark

   Show marketing remark (827 chars)

   Welcome to 300 2nd St in Mitchellville, a beautiful 3-bedroom, 1-bath home that combines comfort, value, and a fantastic location. This well-maintained property sits on an amazing yard, offering plenty of space for outdoor living, gardening, pets, and play. Inside, you’ll find a warm and inviting layout with comfortable living spaces and a functional floor plan that fits a variety of lifestyles. Whether you're a first-time buyer, downsizing, or investing, this home checks all the boxes. Located in a highly regarded school district, this property delivers not only affordability but also peace of mind and long-term value. Enjoy small-town charm with easy access to Des Moines and surrounding communities. Don’t miss your chance to own a great home at a very affordable price—schedule your showing today!

10. 2026-02-20
    price $129,999 827-char remark

    Show marketing remark (827 chars)

    Welcome to 300 2nd St in Mitchellville, a beautiful 3-bedroom, 1-bath home that combines comfort, value, and a fantastic location. This well-maintained property sits on an amazing yard, offering plenty of space for outdoor living, gardening, pets, and play. Inside, you’ll find a warm and inviting layout with comfortable living spaces and a functional floor plan that fits a variety of lifestyles. Whether you're a first-time buyer, downsizing, or investing, this home checks all the boxes. Located in a highly regarded school district, this property delivers not only affordability but also peace of mind and long-term value. Enjoy small-town charm with easy access to Des Moines and surrounding communities. Don’t miss your chance to own a great home at a very affordable price—schedule your showing today!

11. 2026-01-15
    listed $130,000 Active 827-char remark

    Show marketing remark (827 chars)

    Welcome to 300 2nd St in Mitchellville, a beautiful 3-bedroom, 1-bath home that combines comfort, value, and a fantastic location. This well-maintained property sits on an amazing yard, offering plenty of space for outdoor living, gardening, pets, and play. Inside, you’ll find a warm and inviting layout with comfortable living spaces and a functional floor plan that fits a variety of lifestyles. Whether you're a first-time buyer, downsizing, or investing, this home checks all the boxes. Located in a highly regarded school district, this property delivers not only affordability but also peace of mind and long-term value. Enjoy small-town charm with easy access to Des Moines and surrounding communities. Don’t miss your chance to own a great home at a very affordable price—schedule your showing today!

12. 2025-12-05
    historical
13. 2025-10-02
    listed $130,000 Active
14. 2019-07-16
    soldstatus $92,000 Closed
15. 2019-05-30
    historical
16. 2019-05-30
    status Pending
17. 2019-05-29
    listed $95,000 Active
18. 2019-02-11
    soldstatus $22,000

ⓘ 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: $2,070 · $172/mo
• Projected year-2 tax: $2,070 · $172/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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,238
• − Mortgage interest: −$7,002
• − Property taxes: −$2,070
• − Insurance: −$625
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$3,636
• Taxable loss: −$3,893
• Est. tax savings @ 24.0%: +$934
• After-tax cash flow: $-749/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: Southeast Polk Community School District
• NCES district ID: 1926820
• Math proficiency: 73% ▼ -8.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $73,440
• Composite: 64.1/100
• National rank: #575
• State rank: #70 of 289 in IA

Livability — Mitchellville

• Score: 73/100
• State rank: #267
• US rank: #5148

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A- Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchellville, IA
• Population (ZIP): 3,532

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Iranian 6% Italian 5% Portuguese 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -42.52%
• Current HPI: 247.299
• 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

+468.2% since first listed

10 events — show timeline

• 2026-04-22 Price Changed $125,000 DMMLS
• 2026-02-20 Price Changed $129,999 DMMLS
• 2026-01-15 Listed $130,000 DMMLS
• 2025-12-05 Listing Removed — DMMLS
• 2025-10-02 Listed $130,000 DMMLS
• 2019-07-16 Sold (MLS) $92,000 DMMLS
• 2019-05-30 Listing Removed — DMMLS
• 2019-05-30 Pending — DMMLS
• 2019-05-29 Listed $95,000 DMMLS
• 2019-02-11 Sold (Public Records) $22,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,070 · +7.6% YoY. Source: county tax records.