4149 56th St · Des Moines, IA 50310

$130,000

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 105 Days on market

Built 1954 5,600 sqft lot Est $235k · 45% 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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• DSCR +3.7/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable and full of potential, this charming ranch home is situated in a great location surrounded by mature trees, offering a peaceful and private setting. Inside, you'll find an open-concept layout that provides a spacious and flexible living area, perfect for everyday living and entertaining. A large garage makes an ideal space for hobbyists, extra storage, or a workshop. The oversized back porch doubles as a mudroom and three-season porch, adding valuable extra space to relax or customize to your needs. With a little sweat equity, this home presents a great investment opportunity—perfect for first-time buyers, investors, or anyone looking for affordable living with room to grow

Key facts

• 5,600 sq ft lot
• 2 garage spots
• Built 1954

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-18 ($-214/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (8.8% below list).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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: Moore Elementary School (math 52% / reading 52%, grade C-, #494 of 616 statewide, top 83%, 296 students, 72% FRL); Meredith Middle School (math 40% / reading 40%, grade F, #239 of 246 statewide, top 97%, 664 students, 84% FRL); Hoover High School (math 46% / reading 55%, grade D+, #311 of 336 statewide, top 93%, 991 students, 78% FRL) — zoned schools average 78% FRL vs 63% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 260 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $899 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 105 days — a 9% lower offer ($118k) 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,300 (9.0% 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 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — 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: 0.91% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $235,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4018 57th St	0.20mi	2/1.0	1,053 (+5%)	0mo	$214,900	$204	82
4103 54th St	0.16mi	3/1.0 (+1)	952 (-5%)	2mo	$232,000	$244	78
4018 55th St	0.18mi	3/1.5 (+1)	948 (-5%)	2mo	$250,000	$264	74
3825 51st St	0.52mi	2/1.0	936 (-6%)	1mo	$199,000	$213	64
4005 64th St	0.57mi	2/1.5	936 (-6%)	1mo	$220,000	$235	60
3838 Sherman Blvd	0.73mi	2/1.0	967 (-3%)	2mo	$185,000	$191	59
4405 64th St	0.62mi	3/1.5 (+1)	969 (-3%)	1mo	$259,000	$267	58
4133 52nd St	0.25mi	3/2.0 (+1)	876 (-12%)	1mo	$223,000	$255	58
4012 64th St	0.59mi	3/1.5 (+1)	1,064 (+6%)	2mo	$235,000	$221	53
4415 66th St	0.75mi	3/2.0 (+1)	973 (-3%)	2mo	$175,000	$180	50
3913 64th St	0.62mi	3/1.5 (+1)	1,088 (+9%)	0mo	$252,000	$232	49
4020 64th St	0.58mi	3/1.5 (+1)	1,116 (+12%)	0mo	$287,500	$258	46

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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-21,259
• Equity at exit: $19,383

10-year hold

• IRR: -6.7%
• Equity multiple: 0.56×
• Total profit: $-16,059
• Equity at exit: $11,240

Cash invested: $36,400 (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 50310

• Rents YoY: 3.7%
• Active inventory: 260
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$682
• Tax from tax record: −$218 /mo · $2,618/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-18

Break-even live

Break-even rent $1,208

Max offer price $126,853

Occupancy floor 96%

Sensitivity live

Price	-10% $56	-5% $19	+0% $-18	+5% $-55	+10% $-91
Rent	-10% $-111	-5% $-65	+0% $-18	+5% $29	+10% $76
Rate	-1.0pp $48	-0.5pp $15	base $-18	+0.5pp $-52	+1.0pp $-86

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3819 56th St Des Moines, IA	2.0	1.5	1008	$1,300	$1.29	25d	1	0.41mi
4306 50th St Unit 4306 Des Moines, IA	3.0	1.0	1398	$1,500	$1.07	15d	1	0.41mi
4926 Madison Ave Des Moines, IA	2.0	1.0	1045	$1,300	$1.24	45d	1	0.48mi
4924 Madison Ave Des Moines, IA	2.0	1.0	1045	$1,300	$1.24	45d	1	0.48mi
3710 57th St Des Moines, IA	1.0–2.0	1.0	787	$899	$1.14	25d	3	0.51mi
5528 Meredith Dr Des Moines, IA	1.0–2.0	1.0–2.0	870	$1,014	$1.17	15d	13	0.52mi
4823 Aurora Ave Des Moines, IA	2.0	1.5	954	$1,095	$1.15	45d	1	0.57mi
4807 NW Aurora Ave Des Moines, IA	2.0	1.0	936	$1,200	$1.28	45d	1	0.60mi
4807 NW 51st St Des Moines, IA	3.0	2.0	1400	$1,600	$1.14	15d	1	0.88mi
5924 Sutton Pl #10 Urbandale, IA	2.0	2.0	902	$1,150	$1.27	45d	1	0.91mi
10151 Sutton Pl Unit 8 Urbandale, IA	2.0	1.0	864	$1,150	$1.33	25d	1	1.12mi
4532-4534 & Des Moines, IA	2.0	2.0	800	$1,098	$1.37	15d	4	1.35mi
7218 Maryland Dr Urbandale, IA	3.0	1.0	1224	$1,825	$1.49	15d	1	1.37mi
6203 Holcomb Ave Des Moines, IA	3.0	1.0	1106	$1,650	$1.49	15d	1	1.38mi
3610 Twana Dr Des Moines, IA	2.0	1.0	650	$1,025	$1.58	15d	8	1.44mi
5616 Hickman Rd Unit 3 Des Moines, IA	2.0	1.0	850	$990	$1.16	45d	1	1.48mi
5906 Hickman Rd Des Moines, IA	2.0	1.0	850	$825	$0.97	45d	2	1.50mi

Listing history 4 events

1. 2026-01-21
   status Pending
2. 2025-10-08
   status Active
3. 2024-07-16
   status Pending
4. 2024-07-15
   listed $130,000 Active

ⓘ 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: $2,618 · $218/mo
• Projected year-2 tax: $2,618 · $218/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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,222
• − Mortgage interest: −$7,282
• − Property taxes: −$2,618
• − Insurance: −$650
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$3,782
• Taxable loss: −$2,386
• Est. tax savings @ 24.0%: +$573
• After-tax cash flow: $359/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): 31,177
• Household income: $76,381
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 928.0

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% Black 14% Asian 9% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Ukrainian 3% Iranian 3% Italian 2%
• Foreign-born: 19% · Canada, Philippines, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 6% Spanish 6% Russian/Polish/Slavic 3%

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: ▼ -197.92%
• Current HPI: 248.07
• Rent YoY: ▲ 3.74%
• 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

4 events — show timeline

• 2026-01-21 Pending — DMMLS
• 2025-10-08 Relisted — DMMLS
• 2024-07-16 Pending — DMMLS
• 2024-07-15 Listed $130,000 DMMLS

Property tax history

+4.2%/yr

Latest (2025): $2,618 · +2.0% YoY. Source: county tax records.