905 Shaw St · Des Moines, IA 50309

$150,000

4 bd · 1.0 ba · 1,480 sqft · SingleFamily public records · 167 Days on market

Built 1880 6,347 sqft lot $101/sqft · 24% below area Est $198k · 24% under

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks MLS

Welcome to this 4-bedroom home, 2 bathrooms in the metro area, with easy access to downtown. Good size garage, and a carport for your outdoor needs. Home needs some TLC, but priced accordingly. This is your chance to do some improvements and gain equity, so you will enjoy your own designs for this your future home in the heart of Des Moines as you will find good size bedrooms in this home so your big family can be accommodated well, and not to mention this home offers a master bedroom that is not very common in this type of construction.

Key facts

• Carport
• Good size garage
• Master bedroom

Tags

• EASY ACCESS TO DOWNTOWN
• GOOD SIZE GARAGE
• CARPORT
• MASTER BEDROOM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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); 113 active listings in the ZIP; 11 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).
• This rent runs 37% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 167 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $78k; list at $150k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 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 1880 — 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: 1.15% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

• ARV (median comp): $198,062
• List price: $150,000
• Delta: -24.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
827 Shaw St	0.05mi	3/2.0 (-1)	1,420 (-4%)	22mo	$225,000	$158	63
205 E Livingston Ave	0.65mi	4/2.0	1,530 (+3%)	0mo	$268,499	$175	60
316 E Jackson Ave	0.61mi	3/1.0 (-1)	1,548 (+5%)	1mo	$230,000	$149	58
836 E Jackson Ave	0.49mi	4/2.0	1,346 (-9%)	11mo	$220,000	$163	48
600 E Jackson Ave	0.53mi	3/1.5 (-1)	1,504 (+2%)	21mo	$138,000	$92	48
814 E Edison Ave	0.68mi	3/2.5 (-1)	1,585 (+7%)	2mo	$345,000	$218	44
201 E Jackson Ave	0.71mi	3/2.0 (-1)	1,427 (-4%)	12mo	$283,000	$198	42
454 E Granger Ave	0.61mi	3/2.0 (-1)	1,362 (-8%)	11mo	$330,000	$242	40
440 E Granger Ave	0.62mi	3/3.0 (-1)	1,585 (+7%)	10mo	$380,000	$240	38
445 E Dunham Ave	0.70mi	3/2.0 (-1)	1,362 (-8%)	13mo	$337,500	$248	34
108 E Livingston Ave	0.67mi	3/2.0 (-1)	1,292 (-13%)	24mo	$270,300	$209	19

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-4,951
• Equity at exit: $22,365

10-year hold

• IRR: 5.7%
• Equity multiple: 1.41×
• Total profit: $17,312
• Equity at exit: $12,969

Cash invested: $42,000 (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 50309

• Home prices YoY: -1.8%
• Rents YoY: 2.3%
• Active inventory: 113
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$787
• Tax from tax record: −$195 /mo · $2,338/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $323

Break-even live

Break-even rent $1,321

Max offer price $150,000

Occupancy floor 76%

Sensitivity live

Price	-10% $408	-5% $365	+0% $323	+5% $280	+10% $238
Rent	-10% $186	-5% $254	+0% $323	+5% $391	+10% $459
Rate	-1.0pp $398	-0.5pp $361	base $323	+0.5pp $284	+1.0pp $244

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 E Dunham Ave Des Moines, IA	4.0	1.0	1462	$1,795	$1.23	15d	1	0.72mi
100 Jackson Ave Des Moines, IA	3.0	1.0–2.0	885	$1,718	$1.94	15d	21	0.82mi
1513 Dean Ave Des Moines, IA	4.0	1.0	1472	$1,795	$1.22	44d	1	0.83mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$1,176	$1.71	15d	25	1.01mi
1513 Des Moines St Des Moines, IA	3.0	1.0	900	$995	$1.11	24d	1	1.03mi
1525 Des Moines St Des Moines, IA	3.0	1.0	928	$1,195	$1.29	44d	1	1.05mi
410 E 17th St Des Moines, IA	3.0	1.0	1000	$1,695	$1.70	44d	1	1.12mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	15d	9	1.14mi
1201 E Bell Ave Des Moines, IA	3.0	2.0	1107	$1,100	$0.99	15d	1	1.32mi
9066 Burkwood Dr West Des Moines, IA	3.0	2.5–3.5	1783	$1,960	$1.10	24d	2	1.41mi
210 SW 11th St Des Moines, IA	3.0	1.0–2.5	947	$2,827	$2.98	15d	90	1.42mi

Listing history 10 events

1. 2026-06-02
   days on market $150,000 Active 167 DOM
2. 2026-06-01
   days on market $150,000 Active 166 DOM
3. 2026-05-31
   days on market $150,000 Active 165 DOM
4. 2026-05-31
   days on market $150,000 Active 164 DOM
5. 2025-12-17
   historical

   Show marketing remark (543 chars)

   Welcome to this 4-bedroom home, 2 bathrooms in the metro area, with easy access to downtown. Good size garage, and a carport for your outdoor needs. Home needs some TLC, but priced accordingly. This is your chance to do some improvements and gain equity, so you will enjoy your own designs for this your future home in the heart of Des Moines as you will find good size bedrooms in this home so your big family can be accommodated well, and not to mention this home offers a master bedroom that is not very common in this type of construction.

6. 2025-12-17
   listed $150,000 Active 543-char remark

   Show marketing remark (543 chars)

   Welcome to this 4-bedroom home, 2 bathrooms in the metro area, with easy access to downtown. Good size garage, and a carport for your outdoor needs. Home needs some TLC, but priced accordingly. This is your chance to do some improvements and gain equity, so you will enjoy your own designs for this your future home in the heart of Des Moines as you will find good size bedrooms in this home so your big family can be accommodated well, and not to mention this home offers a master bedroom that is not very common in this type of construction.

7. 2025-10-08
   listed $150,000 Active
8. 2023-07-19
   soldstatus $78,000
9. 2013-05-14
   soldstatus $77,959
10. 2009-04-15
    soldstatus $54,000

ⓘ 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: $2,338 · $195/mo
• Projected year-2 tax: $2,346 · $196/mo
• Expected delta: +$8/yr (+$1/mo · 0.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% 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: $20,759
• − Mortgage interest: −$8,402
• − Property taxes: −$2,338
• − Insurance: −$750
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,364
• Taxable income: $1,584
• Est. tax owed @ 24.0%: −$380
• After-tax cash flow: $3,492/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): 10,110
• Household income: $56,777
• Rent vs Own: 89.4% rent · 10.6% own
• Severe rent burden: 1000.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Two or more races 12% Black 12% Hispanic / Latino 10% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Portuguese 5% Iranian 3% Romanian 2%
• Foreign-born: 9% · China, Canada
• Languages at home: 85% English-only · Spanish 7% French/Haitian/Cajun 2% Chinese 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: ▼ -7.21%
• Current HPI: 390.6991
• 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

+177.8% since first listed

6 events — show timeline

• 2025-12-17 Listed $150,000 DMMLS
• 2025-12-17 Listing Removed — DMMLS
• 2025-10-08 Listed $150,000 DMMLS
• 2023-07-19 Sold (Public Records) $78,000 Public Records
• 2013-05-14 Sold (Public Records) $77,959 Public Records
• 2009-04-15 Sold (Public Records) $54,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $2,338 · +12.1% YoY. Source: county tax records.