1903 Mondamin Ave · Des Moines, IA 50314

$205,000

3 bd · 2.0 ba · 1,565 sqft · SingleFamily public records · 13 Days on market

Built 1895 9,372 sqft lot Est $183k · 12% over

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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).

• Appreciation +10.0/10.0
• Cash flow +8.1/30.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +2.1/10.0
• ARV discount +2.1/15.0

Listing remarks MLS

This newly remodeled property features : updated appliances, new interior and exterior paint, and new driveway. Main floor has a nice sized master bedroom with large windows. Second bedroom has extra storage space and can be used as a walk-in closet. Both bathrooms are on the first floor as well as a laundry area off to the side of the kitchen. This home does have a large finished attic area that can be used as another bedroom, office, or play area. Huge partially fenced-in backyard with a garden and shed. Close to King Elementary and easy access to the interstate. Property is being sold "as is. "

Key facts

• Updated appliances
• Extra storage space
• Finished attic area

Tags

• UPDATED APPLIANCES
• NEW INTERIOR PAINT
• NEW EXTERIOR PAINT
• EXTRA STORAGE SPACE
• FINISHED ATTIC AREA
• PARTIALLY FENCED-IN BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Metal siding construction
• Construction: Brick/mortar foundation; Asphalt shingle roof; Metal siding
• Exterior features: Concrete road access; Zoned N5

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (28.1% below list).
• Recommended offer: $147k (28.1% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: King Elementary School (math 17% / reading 22%, grade F, #616 of 616 statewide, top 100%, 267 students, 97% 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 86% FRL vs 63% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.2%/yr); 64 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent runs 44% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $80k; list at $205k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,390 (28.1% 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. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.72% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $183,105
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1656 Martin Luther King Jr Pkwy	0.10mi	3/1.0	1,442 (-8%)	4mo	$188,000	$130	75
1534 18th St	0.14mi	4/2.5 (+1)	1,440 (-8%)	2mo	$200,000	$139	72
1510 11th St	0.58mi	3/1.5	1,536 (-2%)	0mo	$179,000	$117	68
1526 Harrison Ave	0.35mi	4/2.0 (+1)	1,456 (-7%)	2mo	$230,000	$158	66
1502 17th St	0.23mi	3/1.0	1,352 (-14%)	0mo	$90,025	$67	62
1347 Forest Ave	0.46mi	4/2.0 (+1)	1,460 (-7%)	4mo	$260,000	$178	59
1513 Washington Ave	0.26mi	4/2.0 (+1)	1,745 (+12%)	7mo	$215,000	$123	58
1303 22nd St	0.51mi	4/2.0 (+1)	1,453 (-7%)	4mo	$155,000	$107	56
1925 Francis Ave	0.39mi	3/1.0	1,388 (-11%)	5mo	$148,000	$107	54
2126 University Ave	0.62mi	4/1.5 (+1)	1,654 (+6%)	6mo	$105,000	$63	50
1505 University Ave	0.63mi	4/1.0 (+1)	1,395 (-11%)	5mo	$118,000	$85	40
2009 10th St	0.70mi	4/1.5 (+1)	1,376 (-12%)	3mo	$55,000	$40	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.86×
• Total profit: $106,611
• Equity at exit: $184,680

10-year hold

• IRR: 21.5%
• Equity multiple: 6.98×
• Total profit: $343,310
• Equity at exit: $398,270

Cash invested: $57,400 (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 50314

• Home prices YoY: 9.8%
• Rents YoY: 8.2%
• Active inventory: 64
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$205 /mo · $2,462/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-201

Break-even live

Break-even rent $1,729

Max offer price $169,449

Occupancy floor —

Sensitivity live

Price	-10% $-85	-5% $-143	+0% $-201	+5% $-259	+10% $-317
Rent	-10% $-318	-5% $-259	+0% $-201	+5% $-143	+10% $-85
Rate	-1.0pp $-98	-0.5pp $-149	base $-201	+0.5pp $-254	+1.0pp $-308

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1637 23rd St Des Moines, IA	4.0	2.0	1743	$1,595	$0.92	45d	1	0.25mi
1314 Harrison Ave Des Moines, IA	3.0	1.0	1150	$1,195	$1.04	25d	1	0.50mi
2717 Meek Ave Des Moines, IA	2.0	2.0	1128	$1,550	$1.37	16d	1	0.60mi
2501 24th St Apt 106 Des Moines, IA	4.0	2.0	1175	$1,245	$1.06	45d	1	0.61mi
1171 21st St Unit 2 Des Moines, IA	4.0	1.0	1210	$1,300	$1.07	45d	1	0.63mi
3103 Forest Ave Des Moines, IA	1.0–2.0	1.0–1.5	900	$1,550	$1.72	16d	1	0.94mi
1717 Olive Ave Unit B6 Des Moines, IA	2.0	2.0	1092	$1,700	$1.56	45d	1	1.00mi
1546 33rd St Des Moines, IA	4.0	2.0	1540	$1,850	$1.20	16d	1	1.01mi
2940 Brattleboro Ave Unit 2 Des Moines, IA	3.0	2.0	1250	$1,300	$1.04	16d	1	1.07mi
1345 Keosauqua Way Des Moines, IA	2.0	2.5	1550	$2,045	$1.32	45d	1	1.10mi
1260 34th St Unit 401 Des Moines, IA	3.0	2.0	1088	$1,335	$1.23	45d	1	1.19mi
2403 36th St Des Moines, IA	3.0	2.0	1324	$1,600	$1.21	25d	1	1.26mi
1201 Center St Des Moines, IA	2.0	2.5	2141	$2,450	$1.14	23d	5	1.27mi
1821 Woodland Ave Des Moines, IA	2.0	2.0	1200	$1,472	$1.23	45d	2	1.42mi
641 19th St Unit WP 1 Des Moines, IA	2.0	2.0	1200	$1,550	$1.29	45d	1	1.43mi
641 19th St Unit WP 5 Des Moines, IA	2.0	2.0	1200	$1,395	$1.16	45d	1	1.43mi
2715 Douglas Ave Des Moines, IA	3.0	2.0	1109	$1,408	$1.27	16d	1	1.44mi

Listing history 11 events

1. 2026-06-21
   days on market $205,000 Active 13 DOM
2. 2026-06-18
   days on market $205,000 Active 10 DOM
3. 2026-06-17
   price $205,000 Active 9 DOM
4. 2026-06-17
   days on market $215,000 Active 9 DOM
5. 2026-06-16
   days on market $215,000 Active 8 DOM
6. 2026-06-15
   days on market $215,000 Active 7 DOM
7. 2026-06-14
   days on market $215,000 Active 5 DOM
8. 2026-06-13
   days on market $215,000 Active 4 DOM
9. 2026-06-10
   days on market $215,000 Active 2 DOM
10. 2026-06-09
    remarks 597-char remark
11. 2026-06-09
    listed $215,000 Active 1 DOM

ⓘ 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: $2,462 · $205/mo
• Projected year-2 tax: $2,840 · $237/mo
• Expected delta: +$378/yr (+$32/mo · 15.4%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,687
• − Mortgage interest: −$11,483
• − Property taxes: −$2,462
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$5,964
• Taxable loss: −$6,077
• Est. tax savings @ 24.0%: +$1,458
• After-tax cash flow: $-956/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): 10,438
• Household income: $39,950
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 903.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 37% White 29% Hispanic / Latino 20% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Ukrainian 6% Iranian 2% Swiss 1%
• Foreign-born: 26% · Canada, Vietnam, Philippines
• Languages at home: 60% English-only · Spanish 16% Vietnamese 6% Other Asian/Pacific 4%

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: ▲ 30.18%
• Current HPI: 338.8301
• Rent YoY: ▲ 8.17%
• 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

+145.7% since first listed

6 events — show timeline

• 2026-06-08 Listed $215,000 DMMLS
• 2025-08-15 Relisted — DMMLS
• 2025-08-13 Pending — DMMLS
• 2025-08-07 Listed $205,000 DMMLS
• 2016-11-08 Sold (MLS) $80,000 DMMLS
• 2016-09-20 Listed $87,500 DMMLS

Property tax history

+5.6%/yr

Latest (2025): $2,462 · +2.1% YoY. Source: county tax records.