2736 Des Moines St · Des Moines, IA 50317

$144,000

2 bd · 1.0 ba · 848 sqft · SingleFamily public records · 49 Days on market

Built 1910 6,600 sqft lot $170/sqft · at area comps Est $151k · at est.

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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).

• Cash flow +14.4/30.0
• ARV discount +9.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• 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

PRICE SLASHED almost $10,000 ! Sparkling 2BR with outstanding fenced yard, outdoor space and large 1 1/2 car garage/workshop with elec opener. Brand new carpet, brand new stove and fridge, fresh paint, cute updated full bath/shower, newer vinyl window replacements throughout, metal siding. Brand new water heater, newer PVC side exhaust HE furnace. Just a great home and yard space/garage for the $$$. Come see today and compare!

Key facts

• Natural light
• Local amenities
• Fully fenced yard

Tags

• FULLY FENCED YARD
• BRIGHT GALLEY KITCHEN
• NATURAL LIGHT
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family property
• Construction: Metal siding; Brick/mortar foundation; Asphalt shingle roof
• Exterior features: Chain link fencing; Rectangular lot, approximately 50 x 132 feet

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Central air conditioning; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $29 ($348/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 $128k (11.2% below list).
• Recommended offer: $128k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Willard Elementary School (math 52% / reading 52%, grade C-, #494 of 616 statewide, top 83%, 286 students, 90% FRL); Hoyt Middle School (math 33% / reading 40%, grade F, #242 of 246 statewide, top 98%, 486 students, 80% FRL); East High School (math 38% / reading 51%, grade F, #324 of 336 statewide, top 97%, 2,040 students, 79% FRL) — zoned schools average 83% FRL vs 63% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 362 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 $996 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 49 days — a 3% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $105k; 37% 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 $127,869 (11.2% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 11% 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. 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. 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?
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: 0.89% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (median comp): $150,561
• List price: $144,000
• Delta: -4.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2805 Des Moines St	0.06mi	2/1.0	832 (-2%)	2mo	$101,000	$121	93
2814 Des Moines St	0.07mi	2/1.0	788 (-7%)	1mo	$154,000	$195	84
509 E 28th St	0.06mi	2/1.0	768 (-9%)	1mo	$159,900	$208	81
2638 E Grand Ave	0.14mi	2/1.0	768 (-9%)	2mo	$180,000	$234	76
2428 Des Moines St	0.39mi	2/1.5	832 (-2%)	2mo	$140,000	$168	74
815 E 25th St	0.36mi	2/1.0	800 (-6%)	2mo	$165,000	$206	72
3113 State Ave	0.50mi	2/1.5	880 (+4%)	2mo	$165,000	$188	67
2907 Des Moines St	0.16mi	2/2.0	720 (-15%)	2mo	$197,000	$274	62
2746 Cleveland Ave	0.61mi	2/1.0	784 (-8%)	1mo	$125,000	$159	58
2924 Kinsey Ave	0.74mi	3/2.0 (+1)	864 (+2%)	2mo	$205,000	$237	52
2912 Cleveland Ave	0.61mi	2/1.0	756 (-11%)	2mo	$170,000	$225	52
2744 Indianapolis Ave	0.67mi	2/1.5	768 (-9%)	2mo	$158,000	$206	49

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-22,383
• Equity at exit: $21,471

10-year hold

• IRR: -8.5%
• Equity multiple: 0.49×
• Total profit: $-20,737
• Equity at exit: $12,450

Cash invested: $40,320 (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: 362
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$755
• Tax from tax record: −$166 /mo · $1,992/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $29

Break-even live

Break-even rent $1,242

Max offer price $144,000

Occupancy floor 93%

Sensitivity live

Price	-10% $111	-5% $70	+0% $29	+5% $-12	+10% $-53
Rent	-10% $-72	-5% $-21	+0% $29	+5% $80	+10% $130
Rate	-1.0pp $102	-0.5pp $66	base $29	+0.5pp $-8	+1.0pp $-46

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2726 Des Moines St Des Moines, IA	2.0	1.0	975	$1,295	$1.33	45d	1	0.02mi
2120 Capitol Ave Des Moines, IA	3.0	1.0	973	$1,395	$1.43	45d	1	0.80mi
1726 E 24th St Des Moines, IA	3.0	1.0	850	$1,295	$1.52	45d	1	1.01mi
1220 E 37th Ct Des Moines, IA	2.0	1.0	560	$950	$1.70	25d	1	1.15mi
2121 E 23rd St Des Moines, IA	3.0	1.0	972	$1,395	$1.44	45d	1	1.27mi
1713 Lyon St Des Moines, IA	3.0	1.0	834	$1,045	$1.25	23d	1	1.35mi
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	45d	1	1.36mi

Listing history 33 events

1. 2026-06-21
   days on market $144,000 Active 49 DOM
2. 2026-06-18
   days on market $144,000 Active 46 DOM
3. 2026-06-17
   days on market $144,000 Active 45 DOM
4. 2026-06-16
   days on market $144,000 Active 44 DOM
5. 2026-06-15
   days on market $144,000 Active 43 DOM
6. 2026-06-14
   days on market $144,000 Active 41 DOM
7. 2026-06-13
   days on market $144,000 Active 40 DOM
8. 2026-06-10
   days on market $144,000 Active 38 DOM
9. 2026-06-09
   days on market $144,000 Active 37 DOM
10. 2026-06-08
    days on market $144,000 Active 36 DOM
11. 2026-06-07
    days on market $144,000 Active 35 DOM
12. 2026-06-05
    days on market $144,000 Active 32 DOM
13. 2026-06-03
    days on market $144,000 Active 31 DOM
14. 2026-06-02
    days on market $144,000 Active 30 DOM
15. 2026-06-01
    days on market $144,000 Active 29 DOM
16. 2026-05-31
    days on market $144,000 Active 28 DOM
17. 2026-05-31
    days on market $144,000 Active 27 DOM
18. 2026-05-03
    listed $144,000 Active 567-char remark
19. 2026-04-30
    historical
20. 2026-04-10
    price $145,000
21. 2026-02-24
    price $149,500
22. 2026-01-23
    status Active
23. 2026-01-23
    price $150,000
24. 2025-11-10
    status Pending
25. 2025-10-28
    soldstatus $105,000
26. 2025-10-24
    listed $145,000 Active
27. 2011-12-15
    soldstatus $47,500

    Show marketing remark (430 chars)

    PRICE SLASHED almost $10,000 ! Sparkling 2BR with outstanding fenced yard, outdoor space and large 1 1/2 car garage/workshop with elec opener. Brand new carpet, brand new stove and fridge, fresh paint, cute updated full bath/shower, newer vinyl window replacements throughout, metal siding. Brand new water heater, newer PVC side exhaust HE furnace. Just a great home and yard space/garage for the $$$. Come see today and compare!

28. 2011-12-15
    soldstatus $47,500

    Show marketing remark (430 chars)

    PRICE SLASHED almost $10,000 ! Sparkling 2BR with outstanding fenced yard, outdoor space and large 1 1/2 car garage/workshop with elec opener. Brand new carpet, brand new stove and fridge, fresh paint, cute updated full bath/shower, newer vinyl window replacements throughout, metal siding. Brand new water heater, newer PVC side exhaust HE furnace. Just a great home and yard space/garage for the $$$. Come see today and compare!

29. 2011-06-28
    listed $50,000

    Show marketing remark (430 chars)

    PRICE SLASHED almost $10,000 ! Sparkling 2BR with outstanding fenced yard, outdoor space and large 1 1/2 car garage/workshop with elec opener. Brand new carpet, brand new stove and fridge, fresh paint, cute updated full bath/shower, newer vinyl window replacements throughout, metal siding. Brand new water heater, newer PVC side exhaust HE furnace. Just a great home and yard space/garage for the $$$. Come see today and compare!

30. 2010-09-09
    soldstatus $40,000
31. 2010-05-07
    listed $48,000
32. 2006-05-30
    soldstatus $88,500
33. 2006-04-07
    listed $85,500

ⓘ 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: $1,992 · $166/mo
• Projected year-2 tax: $2,126 · $177/mo
• Expected delta: +$134/yr (+$11/mo · 6.7%)

ⓘ 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 3/10 Moderate
• 🌡 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: $15,344
• − Mortgage interest: −$8,066
• − Property taxes: −$1,992
• − Insurance: −$720
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$4,189
• Taxable loss: −$2,078
• Est. tax savings @ 24.0%: +$499
• After-tax cash flow: $847/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

+68.4% since first listed

16 events — show timeline

• 2026-05-03 Listed $144,000 DMMLS
• 2026-04-30 Listing Removed — DMMLS
• 2026-04-10 Price Changed $145,000 DMMLS
• 2026-02-24 Price Changed $149,500 DMMLS
• 2026-01-23 Relisted — DMMLS
• 2026-01-23 Price Changed $150,000 DMMLS
• 2025-11-10 Pending — DMMLS
• 2025-10-28 Sold (Public Records) $105,000 Public Records
• 2025-10-24 Listed $145,000 DMMLS
• 2011-12-15 Sold (Public Records) $47,500 Public Records
• 2011-12-15 Sold (MLS) $47,500 DMMLS
• 2011-06-28 Listed $50,000 DMMLS
• 2010-09-09 Sold (MLS) $40,000 DMMLS
• 2010-05-07 Listed $48,000 DMMLS
• 2006-05-30 Sold (Public Records) $88,500 Public Records
• 2006-04-07 Listed $85,500 DMMLS

Property tax history

+1.2%/yr

Latest (2025): $1,992 · +2.0% YoY. Source: county tax records.