2401 Maple St · Des Moines, IA 50317

$112,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 3 Days on market

Built 1945 6,850 sqft lot $124/sqft · 25% below area Est $150k · 25% 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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +6.0/10.0
• 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

Corner lot home with metal siding and a 2-car garage within walking distance to the Iowa State Fairgrounds. 1 bedroom with a walk-in closet and a spacious full bath with handicap features. Newer ramp built in 2023 to the front door, sun room with half-glazed door and gas fireplace Dual hookups for washer and dryer, one in the mud room on the main, and another in the lower level. Relax and entertain around the fire pit or on the open deck attached to the sunroom. Storage shed included and filled with additional fence lumber. This home is ready for your finishes.

Key facts

• Metal siding
• Walk-in closet
• Sun room

Tags

• CORNER LOT
• METAL SIDING
• WALK-IN CLOSET
• SUN ROOM
• GAS FIREPLACE
• FIRE PIT

Property features AI

Exterior

• Parking: Detached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story; Residential zoning; Concrete road frontage; Facing direction not specified
• Construction: Metal siding; Block foundation; Asphalt shingle roof; Built year not specified
• Exterior features: Deck; Exterior storage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating; Gas / Natural gas heating
• Interior features: Unfinished basement
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Cap rate 7.9% 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); 362 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $774 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,000

Questions for the listing agent

1. Built in 1945 — 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: 1.10% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.87%
• DSCR: 1.26
• GRM: 7.6

CMA / ARV

• ARV (median comp): $149,659
• List price: $112,000
• Delta: -25.16%
• 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
2428 Des Moines St	0.12mi	2/1.5	832 (-8%)	2mo	$140,000	$168	78
2432 Maple St	0.08mi	2/2.0	980 (+9%)	2mo	$209,000	$213	76
815 E 25th St	0.14mi	2/1.0	800 (-11%)	2mo	$165,000	$206	73
1410 E 23rd St	0.46mi	2/1.0	874 (-3%)	3mo	$164,500	$188	71
2805 Des Moines St	0.53mi	2/1.0	832 (-8%)	2mo	$101,000	$121	61
2057 Maple St	0.36mi	2/1.0	780 (-13%)	1mo	$165,000	$212	60
1519 E 24th St	0.63mi	2/2.0	945 (+5%)	1mo	$140,000	$148	57
2638 E Grand Ave	0.37mi	2/1.0	768 (-15%)	2mo	$180,000	$234	57
2814 Des Moines St	0.53mi	2/1.0	788 (-12%)	1mo	$154,000	$195	53
509 E 28th St	0.52mi	2/1.0	768 (-15%)	1mo	$159,900	$208	51
2746 Cleveland Ave	0.72mi	2/1.0	784 (-13%)	1mo	$125,000	$159	44
2925 Walker St	0.67mi	3/1.0 (+1)	1,000 (+11%)	3mo	$192,500	$193	43

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-9,204
• Equity at exit: $16,700

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,221
• Equity at exit: $9,684

Cash invested: $31,360 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,235 high
• Mortgage (P&I): −$587
• Tax from tax record: −$188 /mo · $2,254/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $153

Break-even live

Break-even rent $1,040

Max offer price $112,000

Occupancy floor 83%

Sensitivity live

Price	-10% $217	-5% $185	+0% $153	+5% $122	+10% $90
Rent	-10% $56	-5% $105	+0% $153	+5% $202	+10% $251
Rate	-1.0pp $210	-0.5pp $182	base $153	+0.5pp $124	+1.0pp $95

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2120 Capitol Ave Des Moines, IA	3.0	1.0	973	$1,395	$1.43	44d	1	0.40mi
2726 Des Moines St Des Moines, IA	2.0	1.0	975	$1,295	$1.33	44d	1	0.46mi
1726 E 24th St Des Moines, IA	3.0	1.0	850	$1,295	$1.52	44d	1	0.80mi
1713 Lyon St Des Moines, IA	3.0	1.0	834	$1,045	$1.25	22d	1	0.88mi
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	44d	1	0.91mi
2121 E 23rd St Des Moines, IA	3.0	1.0	972	$1,395	$1.44	44d	1	1.08mi
1525 Des Moines St Des Moines, IA	3.0	1.0	928	$1,195	$1.29	44d	1	1.13mi
1513 Des Moines St Des Moines, IA	3.0	1.0	900	$995	$1.11	24d	1	1.15mi
1441 Capitol Ave Apt 16 Des Moines, IA	1.0	1.0	650	$550	$0.85	15d	1	1.23mi
1419 Capitol Ave Des Moines, IA	1.0	1.0	680	$750	$1.10	24d	1	1.28mi
1364 Idaho St Des Moines, IA	2.0	1.0	804	$1,195	$1.49	24d	1	1.45mi

Listing history 2 events

1. 2026-05-04
   status Pending 567-char remark
2. 2026-05-01
   listed $112,000 Active 567-char remark

ⓘ 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: $2,254 · $188/mo
• Projected year-2 tax: $2,254 · $188/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 2/10 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: $14,814
• − Mortgage interest: −$6,274
• − Property taxes: −$2,254
• − Insurance: −$560
• − Repairs & maintenance: −$1,185
• − Management: −$1,185
• − Depreciation: −$3,258
• Taxable income: $98
• Est. tax owed @ 24.0%: −$24
• After-tax cash flow: $1,818/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

2 events — show timeline

• 2026-05-04 Pending — DMMLS
• 2026-05-01 Listed $112,000 DMMLS

Property tax history

+0.7%/yr

Latest (2025): $2,254 · -3.5% YoY. Source: county tax records.