1325 Seneca Ave · Des Moines, IA 50313

$99,999

2 bd · 1.0 ba · 572 sqft · SingleFamily public records · 204 Days on market

Built 1924 4,400 sqft lot $175/sqft · 24% below area Est $131k · 24% under

---

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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

Key facts

• 4,400 sq ft lot
• Built 1924
• Listed 203 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $59 ($712/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (6.6% below list).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 fast (+13.1%/yr); 154 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent is only 16% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $49k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 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 1924 — 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: 0.93% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (median comp): $130,896
• List price: $99,999
• Delta: -23.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1325 Seneca Ave	0.00mi	2/1.0	572 (0%)	0mo	$104,000	$182	100
3825 15th St	0.09mi	1/1.0 (-1)	528 (-8%)	11mo	$116,000	$220	69
1517 Clinton Ave	0.22mi	1/1.5 (-1)	588 (+3%)	15mo	$101,000	$172	66
3917 8th St	0.50mi	3/2.0 (+1)	594 (+4%)	1mo	$164,900	$278	61
4350 NW 11th St	0.59mi	3/2.0 (+1)	652 (+14%)	18mo	$222,500	$341	26

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.73×
• Total profit: $-7,480
• Equity at exit: $14,910

10-year hold

• IRR: 8.0%
• Equity multiple: 1.74×
• Total profit: $20,857
• Equity at exit: $8,646

Cash invested: $28,000 (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 50313

• Rents YoY: 13.1%
• Active inventory: 154
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $934 high
• Mortgage (P&I): −$524
• Tax from tax record: −$113 /mo · $1,354/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $59

Break-even live

Break-even rent $859

Max offer price $99,999

Occupancy floor 89%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3905 8th St Des Moines, IA	1.0	1.0	675	$895	$1.33	23d	1	0.52mi
3700 Martin Luther King Junior Pkwy Unit 18 Des Moines, IA	2.0	1.0	730	$750	$1.03	43d	1	0.78mi
2411 Welbeck Rd #11 Des Moines, IA	2.0	1.0	750	$745	$0.99	43d	1	0.84mi
2411 Welbeck Rd #7 Des Moines, IA	2.0	1.0	750	$845	$1.13	43d	1	0.84mi
3419 1st St Unit 2 Des Moines, IA	1.0	1.0	546	$650	$1.19	43d	1	1.01mi
3623 Cambridge St Des Moines, IA	2.0	1.0	732	$1,145	$1.56	19d	1	1.10mi
2901 Boston Ave Des Moines, IA	1.0–2.0	1.0–1.5	707	$1,300	$1.84	14d	7	1.19mi
2501 24th St Unit 101 Des Moines, IA	2.0	1.0	750	$725	$0.97	23d	1	1.19mi
2501 24th St Unit 113 Des Moines, IA	2.0	1.0	750	$945	$1.26	43d	1	1.19mi
2501 24th St Unit 111 Des Moines, IA	2.0	1.0	750	$760	$1.01	23d	1	1.19mi
2413 24th St Unit 3 Des Moines, IA	2.0	1.0	600	$725	$1.21	43d	1	1.22mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	43d	1	1.36mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	23d	1	1.36mi
2110 26th St Apt 11 Des Moines, IA	2.0	1.0	628	$925	$1.47	19d	1	1.41mi

Listing history 22 events

1. 2026-06-10
   days on market $99,999 Active 204 DOM
2. 2026-06-09
   days on market $99,999 Active 203 DOM
3. 2026-06-08
   days on market $99,999 Active 202 DOM
4. 2026-06-07
   days on market $99,999 Active 201 DOM
5. 2026-06-05
   days on market $99,999 Active 198 DOM
6. 2026-06-03
   days on market $99,999 Active 197 DOM
7. 2026-06-02
   days on market $99,999 Active 196 DOM
8. 2026-06-01
   days on market $99,999 Active 195 DOM
9. 2026-05-31
   days on market $99,999 Active 194 DOM
10. 2026-05-31
    days on market $99,999 Active 193 DOM
11. 2026-05-08
    price $99,999 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

12. 2026-04-26
    price $109,999 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

13. 2026-03-16
    price $115,900 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

14. 2026-02-09
    price $123,999 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

15. 2026-01-06
    price $129,999 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

16. 2025-12-16
    price $134,900 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

17. 2025-12-02
    price $139,900 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

18. 2025-11-18
    listed $149,000 Active 260-char remark

    Show marketing remark (260 chars)

    This charming bungalow at 1325 Seneca Avenue features 2 bedrooms, 1 bath, and classic character throughout. The warm living area, efficient kitchen, and comfortable bedrooms create a welcoming atmosphere. All information obtained from seller and public records

19. 2025-09-22
    soldstatus $71,000
20. 2025-09-17
    soldstatus $71,000 Closed 970-char remark

    Show marketing remark (970 chars)

    Investor special or DIY dream! This 1924 bungalow offers a great opportunity to bring your vision to life. Featuring 2 bedrooms, 1 full bath, and 572 sq ft of main living space with an additional 572 sq ft basement, this home sits on a 4,400 sq ft lot in Northwest Des Moines. A covered front porch and enclosed sunroom add charm, while the backyard provides space to create your own outdoor retreat. Inside, you’ll find a traditional layout with potential to reconfigure or update to suit modern living. The home includes a concrete block foundation, metal siding, gable roof, and gas forced-air heating. With a motivated seller, this property is priced for its condition and ready for someone willing to put in sweat equity. Perfect for investors, flippers, or first-time buyers ready to customize. Selling AS-IS, no repairs will be made by the seller. Don’t miss the chance to transform this bungalow into a profitable rental, flip, or personal residence.

21. 2025-09-10
    status Pending 970-char remark

    Show marketing remark (970 chars)

    Investor special or DIY dream! This 1924 bungalow offers a great opportunity to bring your vision to life. Featuring 2 bedrooms, 1 full bath, and 572 sq ft of main living space with an additional 572 sq ft basement, this home sits on a 4,400 sq ft lot in Northwest Des Moines. A covered front porch and enclosed sunroom add charm, while the backyard provides space to create your own outdoor retreat. Inside, you’ll find a traditional layout with potential to reconfigure or update to suit modern living. The home includes a concrete block foundation, metal siding, gable roof, and gas forced-air heating. With a motivated seller, this property is priced for its condition and ready for someone willing to put in sweat equity. Perfect for investors, flippers, or first-time buyers ready to customize. Selling AS-IS, no repairs will be made by the seller. Don’t miss the chance to transform this bungalow into a profitable rental, flip, or personal residence.

22. 2025-09-03
    listed $80,000 Active 970-char remark

    Show marketing remark (970 chars)

    Investor special or DIY dream! This 1924 bungalow offers a great opportunity to bring your vision to life. Featuring 2 bedrooms, 1 full bath, and 572 sq ft of main living space with an additional 572 sq ft basement, this home sits on a 4,400 sq ft lot in Northwest Des Moines. A covered front porch and enclosed sunroom add charm, while the backyard provides space to create your own outdoor retreat. Inside, you’ll find a traditional layout with potential to reconfigure or update to suit modern living. The home includes a concrete block foundation, metal siding, gable roof, and gas forced-air heating. With a motivated seller, this property is priced for its condition and ready for someone willing to put in sweat equity. Perfect for investors, flippers, or first-time buyers ready to customize. Selling AS-IS, no repairs will be made by the seller. Don’t miss the chance to transform this bungalow into a profitable rental, flip, or personal residence.

ⓘ 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: $1,354 · $113/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$108/yr (+$9/mo · 8.0%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,214
• − Mortgage interest: −$5,601
• − Property taxes: −$1,354
• − Insurance: −$500
• − Repairs & maintenance: −$897
• − Management: −$897
• − Depreciation: −$2,909
• Taxable loss: −$945
• Est. tax savings @ 24.0%: +$227
• After-tax cash flow: $939/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): 17,440
• Household income: $68,361
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 454.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 17% Black 11% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 3% Portuguese 2% Scotch-Irish 2%
• Foreign-born: 16% · Canada, Philippines, Vietnam
• Languages at home: 75% English-only · Spanish 14% Other Asian/Pacific 4% Russian/Polish/Slavic 1%

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: ▼ -162.17%
• Current HPI: 285.5708
• Rent YoY: ▲ 13.11%
• 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

+25.0% since first listed

12 events — show timeline

• 2026-05-08 Price Changed $99,999 DMMLS
• 2026-04-26 Price Changed $109,999 DMMLS
• 2026-03-16 Price Changed $115,900 DMMLS
• 2026-02-09 Price Changed $123,999 DMMLS
• 2026-01-06 Price Changed $129,999 DMMLS
• 2025-12-16 Price Changed $134,900 DMMLS
• 2025-12-02 Price Changed $139,900 DMMLS
• 2025-11-18 Listed $149,000 DMMLS
• 2025-09-22 Sold (Public Records) $71,000 Public Records
• 2025-09-17 Sold (MLS) $71,000 DMMLS
• 2025-09-10 Pending — DMMLS
• 2025-09-03 Listed $80,000 DMMLS

Property tax history

+2.9%/yr

Latest (2025): $1,354 · +2.4% YoY. Source: county tax records.