3518 Easton Blvd · Des Moines, IA 50317

$93,500

2 bd · 1.0 ba · 612 sqft · SingleFamily public records · 178 Days on market

Built 1910 0.30 ac lot $153/sqft · 39% below area Est $168k · 44% 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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL - FIXER - MUST SELL 2 bedroom, 1 bathroom single family resident. Property needs repairs and updates and is being sold AS-IS. Perfect opportunity for a fix & flip, rental, or buy-and-hold investor. - Strong rental area - Value-add potential - Solid footprint - Quick closing available This is not a move-in ready home!!! Bring your contractor and your vision. Price: $93,500 Cash, hard money, FHA/203K or private money preferred Fast, clean close ________________________________________ Terms: Sold AS-IS No repairs will be made Buyer pays closing costs Proof of funds required ________________________________________ Interested? Reply to this post with your name, phone number, and buying timeframe to schedule a walkthrough or get more details. Call me [phone] or setup some time with me at. .. www. calendly.com/jamesmooresr. Serious buyers only. First come, first served.

Key facts

• 0.3 acre lot
• Built 1910
• Listed 178 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $82k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+2.3%/yr); 357 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $646 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 178 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $80k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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: 1.07% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 7.8

CMA / ARV

• ARV (median comp): $168,253
• List price: $93,500
• Delta: -44.43%
• 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
3504 Easton Blvd	0.03mi	2/1.0	604 (-1%)	3mo	$20,000	$33	94
2345 E 37th Ct	0.30mi	2/1.0	661 (+8%)	2mo	$124,000	$188	71
2311 Williams St	0.74mi	2/1.0	616 (+1%)	6mo	$160,000	$260	59
2347 E 38th Ct	0.40mi	2/1.0	672 (+10%)	15mo	$125,000	$186	52
2508 E 41st St	0.65mi	2/1.0	624 (+2%)	17mo	$165,000	$264	52
1309 E 34th St	0.69mi	2/1.0	600 (-2%)	16mo	$104,900	$175	51
1916 E 40th Ct	0.55mi	2/2.0	572 (-6%)	12mo	$163,000	$285	49
2528 E 38th Ct	0.44mi	2/1.0	694 (+13%)	13mo	$136,900	$197	46
3108 Kinsey Ave	0.67mi	3/1.0 (+1)	672 (+10%)	6mo	$152,500	$227	42
3253 Kinsey Ave	0.57mi	2/1.5	685 (+12%)	15mo	$150,000	$219	39
1315 E 33rd Ct	0.70mi	3/1.0 (+1)	696 (+14%)	4mo	$172,000	$247	36
3004 E Washington Ave	0.72mi	1/1.0 (-1)	540 (-12%)	18mo	$122,000	$226	27

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 · 2.29% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-7,310
• Equity at exit: $13,941

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $1,833
• Equity at exit: $8,084

Cash invested: $26,180 (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 50317

• Rents YoY: 2.3%
• Active inventory: 357
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,002 high
• Mortgage (P&I): −$490
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $134

Break-even live

Break-even rent $833

Max offer price $93,500

Occupancy floor 82%

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: $23,375
• Closing costs: $2,805
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 E 37th Ct Des Moines, IA	2.0	1.0	560	$950	$1.70	23d	1	0.90mi
3722 Hubbell Ave Des Moines, IA	1.0–2.0	1.0–2.0	766	$975	$1.27	14d	2	1.13mi
2938 E Euclid Ave Unit 2 Des Moines, IA	2.0	1.0	575	$650	$1.13	14d	1	1.16mi
3560 E Douglas Ave Des Moines, IA	1.0–3.0	1.0–2.0	870	$985	$1.13	14d	14	1.31mi
2555 Wedgewood Rd Des Moines, IA	1.0	1.0	650	$750	$1.15	14d	1	1.41mi
4014 Hubbell Ave Des Moines, IA	1.0–2.0	1.0	750	$1,200	$1.60	14d	13	1.44mi

Listing history 32 events

1. 2026-06-18
   days on market $93,500 Active 178 DOM
2. 2026-06-17
   days on market $93,500 Active 177 DOM
3. 2026-06-16
   days on market $93,500 Active 176 DOM
4. 2026-06-15
   days on market $93,500 Active 175 DOM
5. 2026-06-14
   days on market $93,500 Active 173 DOM
6. 2026-06-13
   days on market $93,500 Active 172 DOM
7. 2026-06-10
   days on market $93,500 Active 170 DOM
8. 2026-06-09
   days on market $93,500 Active 169 DOM
9. 2026-06-08
   days on market $93,500 Active 168 DOM
10. 2026-06-07
    days on market $93,500 Active 167 DOM
11. 2026-06-05
    days on market $93,500 Active 164 DOM
12. 2026-06-03
    days on market $93,500 Active 163 DOM
13. 2026-06-02
    days on market $93,500 Active 162 DOM
14. 2026-06-01
    days on market $93,500 Active 161 DOM
15. 2026-05-31
    days on market $93,500 Active 160 DOM
16. 2026-05-31
    days on market $93,500 Active 159 DOM
17. 2025-12-22
    listed $93,500 Active 920-char remark

    Show marketing remark (920 chars)

    INVESTOR SPECIAL - FIXER - MUST SELL 2 bedroom, 1 bathroom single family resident. Property needs repairs and updates and is being sold AS-IS. Perfect opportunity for a fix & flip, rental, or buy-and-hold investor. - Strong rental area - Value-add potential - Solid footprint - Quick closing available This is not a move-in ready home!!! Bring your contractor and your vision. Price: $93,500 Cash, hard money, FHA/203K or private money preferred Fast, clean close ________________________________________ Terms: Sold AS-IS No repairs will be made Buyer pays closing costs Proof of funds required ________________________________________ Interested? Reply to this post with your name, phone number, and buying timeframe to schedule a walkthrough or get more details. Call me [phone] or setup some time with me at. .. www. calendly.com/jamesmooresr. Serious buyers only. First come, first served.

18. 2025-12-21
    historical
19. 2025-11-14
    price $99,900
20. 2025-06-04
    listed $117,900 Active
21. 2023-11-06
    historical $1,025
22. 2023-11-04
    listed $1,025
23. 2023-09-23
    historical $1,025
24. 2023-09-22
    listed $1,025
25. 2023-04-06
    soldstatus $79,875
26. 2017-12-14
    soldstatus $20,000
27. 2017-11-02
    listed $20,000
28. 2014-11-03
    historical
29. 2014-03-25
    listed $13,500
30. 2014-03-24
    historical
31. 2014-01-24
    listed $18,000
32. 2008-12-09
    soldstatus $47,000

ⓘ 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: $1,544 · $129/mo
• Projected year-2 tax: $1,544 · $129/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,029
• − Mortgage interest: −$5,237
• − Property taxes: −$1,544
• − Insurance: −$468
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$2,720
• Taxable income: $135
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $1,575/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): 36,548
• Household income: $65,617
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 716.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 10% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Portuguese 3% Iranian 2% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -235.00%
• Current HPI: 281.7409
• Rent YoY: ▲ 2.29%
• 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

+98.9% since first listed

16 events — show timeline

• 2025-12-22 Listed $93,500 ForSaleByOwner.com
• 2025-12-21 Listing Removed — DMMLS
• 2025-11-14 Price Changed $99,900 DMMLS
• 2025-06-04 Listed $117,900 DMMLS
• 2023-11-06 Rental Removed $1,025 TURBOTENANT
• 2023-11-04 Listed for Rent $1,025 TURBOTENANT
• 2023-09-23 Rental Removed $1,025 TURBOTENANT
• 2023-09-22 Listed for Rent $1,025 TURBOTENANT
• 2023-04-06 Sold (Public Records) $79,875 Public Records
• 2017-12-14 Sold (MLS) $20,000 DMMLS
• 2017-11-02 Listed $20,000 DMMLS
• 2014-11-03 Listing Removed — DMMLS
• 2014-03-25 Listed $13,500 DMMLS
• 2014-03-24 Listing Removed — DMMLS
• 2014-01-24 Listed $18,000 DMMLS
• 2008-12-09 Sold (Public Records) $47,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,544 · +2.1% YoY. Source: county tax records.