902 E Sheridan Ave · Des Moines, IA 50316

$50,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records

Built 1914

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Key facts

• Built 1914

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 22.0% 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: 105 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1914 — 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: 2.53% ✓
• Cap rate: 21.96%
• Cash-on-cash: 55.94%
• DSCR: 3.49
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $187,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3007 E 8th St	0.28mi	3/2.0	1,065 (-2%)	1mo	$181,000	$170	78
2327 E 9th St	0.20mi	2/1.0 (-1)	1,034 (-5%)	1mo	$220,000	$213	76
2701 Cornell St	0.44mi	3/1.0	1,056 (-3%)	4mo	$163,000	$154	71
3109 E 9th St	0.32mi	3/1.0	1,214 (+11%)	1mo	$237,500	$196	65
2415 E 13th St	0.21mi	2/1.0 (-1)	960 (-12%)	1mo	$165,000	$172	64
1448 Thompson Ave	0.55mi	2/1.0 (-1)	1,138 (+4%)	2mo	$161,900	$142	61
2919 1st St	0.66mi	3/1.0	1,153 (+6%)	0mo	$135,000	$117	60
1617 Guthrie Ave	0.66mi	3/2.0	1,152 (+6%)	3mo	$269,000	$234	54
1305 E Oak Park Ave	0.56mi	3/1.5	1,223 (+12%)	0mo	$175,000	$143	52
3421 Amherst St	0.60mi	3/2.0	1,197 (+10%)	1mo	$205,000	$171	51
1400 Mattern Ave	0.60mi	3/2.0	988 (-10%)	3mo	$187,500	$190	50
3507 Bowdoin St	0.65mi	2/1.0 (-1)	940 (-14%)	2mo	$168,000	$179	40

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: 54.3%
• Equity multiple: 3.39×
• Total profit: $33,486
• Equity at exit: $7,455

10-year hold

• IRR: 59.4%
• Equity multiple: 6.91×
• Total profit: $82,762
• Equity at exit: $4,323

Cash invested: $14,000 (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 50316

• Home prices YoY: -29.5%
• Active inventory: 105
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,264 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $653

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 43%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3103 E 7th St Des Moines, IA	2.0	1.0	960	$1,200	$1.25	44d	1	0.35mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	23d	1	0.79mi
3623 Cambridge St Des Moines, IA	2.0	1.0	732	$1,145	$1.56	19d	1	0.84mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	14d	1	0.84mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	44d	1	1.01mi
1364 Idaho St Des Moines, IA	2.0	1.0	804	$1,195	$1.49	23d	1	1.03mi
3410 5th Ave Des Moines, IA	4.0	2.0	1474	$1,550	$1.05	44d	1	1.05mi
1301 E 12th St Unit 2 Des Moines, IA	2.0	1.0	995	$795	$0.80	23d	1	1.15mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	23d	1	1.38mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	44d	1	1.38mi
4124 3rd St Des Moines, IA	3.0	1.0	996	$1,595	$1.60	14d	1	1.42mi

Listing history 1 events

1. 2026-06-13
   listed $50,000 Pending

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $15,163
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$1,455
• Taxable income: $7,481
• Est. tax owed @ 24.0%: −$1,796
• After-tax cash flow: $6,036/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

2 events — show timeline

• 2026-06-11 Listing Removed — DMMLS
• 2026-06-10 Listed $50,000 DMMLS

Property tax history

+3.2%/yr

Latest (2025): $2,642 · +2.2% YoY. Source: county tax records.