4730 NE 33rd Ct · Des Moines, IA 50317

$125,000

2 bd · 1.0 ba · 636 sqft · SingleFamily public records · 99 Days on market

Built 1959 0.35 ac lot $197/sqft · 5% below area Est $132k · 5% under

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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 +13.1/30.0
• ARV discount +9.9/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.3/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Alert! Two bed one bath bungalow. Furnace located in crawl space. Some vinyl flooring and LVP flooring. This would be a good starter home or investment property for rental or resale. Some features include a newer septic, reasonable taxes, metal siding, newer roof, very large rear yard and a shared drive. Lots of possibilities to enjoy activities in your shaded backyard or use as garden spots for your favorite vegetables or flowers. Contact your agent today for a showing.

Key facts

• Shaded backyard
• Metal siding
• Newer roof

Tags

• NEWER SEPTIC
• METAL SIDING
• NEWER ROOF
• LARGE REAR YARD
• SHADED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-4 ($-52/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (16.9% below list).
• Recommended offer: $104k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Saydel Community School District (suburban): math 46% / reading 51% proficiency, ranked #283 of 289 in IA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cornell Elementary School (math 67% / reading 57%, grade B, #363 of 616 statewide, top 62%, 527 students, 42% FRL); Woodside Middle School (math 44% / reading 46%, grade D, #232 of 246 statewide, top 95%, 359 students, 71% FRL); Saydel High School (math 39% / reading 55%, grade D-, #319 of 336 statewide, top 95%, 451 students, 60% FRL) — zoned schools average 58% FRL vs 41% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 362 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $864 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 99 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $98k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,871 (16.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $131,915
• List price: $125,000
• Delta: -5.24%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.29% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-21,277
• Equity at exit: $18,638

10-year hold

• IRR: -10.7%
• Equity multiple: 0.37×
• Total profit: $-21,899
• Equity at exit: $10,808

Cash invested: $35,000 (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 50317

• Rents YoY: 2.3%
• Active inventory: 362
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,039 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$117 /mo · $1,408/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $-4

Break-even live

Break-even rent $1,044

Max offer price $124,232

Occupancy floor 95%

Sensitivity live

Price	-10% $66	-5% $31	+0% $-4	+5% $-40	+10% $-75
Rent	-10% $-86	-5% $-45	+0% $-4	+5% $37	+10% $78
Rate	-1.0pp $59	-0.5pp $27	base $-4	+0.5pp $-37	+1.0pp $-70

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3560 E Douglas Ave Des Moines, IA	1.0–3.0	1.0–2.0	870	$985	$1.13	16d	14	0.96mi
3722 Hubbell Ave Des Moines, IA	1.0–2.0	1.0–2.0	766	$975	$1.27	16d	2	1.17mi
4014 Hubbell Ave Des Moines, IA	1.0–2.0	1.0	750	$1,200	$1.60	16d	13	1.18mi
2938 E Euclid Ave Unit 2 Des Moines, IA	2.0	1.0	575	$650	$1.13	16d	1	1.30mi

Listing history 23 events

1. 2026-06-21
   days on market $125,000 Active 99 DOM
2. 2026-06-18
   days on market $125,000 Active 96 DOM
3. 2026-06-17
   days on market $125,000 Active 95 DOM
4. 2026-06-16
   days on market $125,000 Active 94 DOM
5. 2026-06-15
   days on market $125,000 Active 93 DOM
6. 2026-06-14
   days on market $125,000 Active 91 DOM
7. 2026-06-13
   days on market $125,000 Active 90 DOM
8. 2026-06-10
   days on market $125,000 Active 88 DOM
9. 2026-06-09
   days on market $125,000 Active 87 DOM
10. 2026-06-08
    days on market $125,000 Active 86 DOM
11. 2026-06-07
    days on market $125,000 Active 85 DOM
12. 2026-06-03
    days on market $125,000 Active 81 DOM
13. 2026-06-02
    days on market $125,000 Active 80 DOM
14. 2026-06-01
    days on market $125,000 Active 79 DOM
15. 2026-05-31
    days on market $125,000 Active 78 DOM
16. 2026-05-31
    days on market $125,000 Active 77 DOM
17. 2026-03-14
    listed $125,000 Active 484-char remark

    Show marketing remark (484 chars)

    Investor Alert! Two bed one bath bungalow. Furnace located in crawl space. Some vinyl flooring and LVP flooring. This would be a good starter home or investment property for rental or resale. Some features include a newer septic, reasonable taxes, metal siding, newer roof, very large rear yard and a shared drive. Lots of possibilities to enjoy activities in your shaded backyard or use as garden spots for your favorite vegetables or flowers. Contact your agent today for a showing.

18. 2024-11-10
    historical
19. 2024-10-24
    price $130,000
20. 2024-10-20
    price $140,000
21. 2024-10-01
    price $145,000
22. 2024-08-30
    listed $150,000 Active
23. 2022-11-17
    soldstatus $98,000

ⓘ 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: $1,408 · $117/mo
• Projected year-2 tax: $1,685 · $140/mo
• Expected delta: +$277/yr (+$23/mo · 19.7%)

ⓘ 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 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: $12,465
• − Mortgage interest: −$7,002
• − Property taxes: −$1,408
• − Insurance: −$625
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$3,636
• Taxable loss: −$2,201
• Est. tax savings @ 24.0%: +$528
• After-tax cash flow: $476/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: Saydel Community School District
• NCES district ID: 1925320
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $54,193
• Composite: 41.93/100
• National rank: #3354
• State rank: #283 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

• 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

+27.6% since first listed

7 events — show timeline

• 2026-03-14 Listed $125,000 DMMLS
• 2024-11-10 Listing Removed — DMMLS
• 2024-10-24 Price Changed $130,000 DMMLS
• 2024-10-20 Price Changed $140,000 DMMLS
• 2024-10-01 Price Changed $145,000 DMMLS
• 2024-08-30 Listed $150,000 DMMLS
• 2022-11-17 Sold (Public Records) $98,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,408 · +0.9% YoY. Source: county tax records.