1431 9th St · Des Moines, IA 50314

$70,000

3 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 59 Days on market

Built 1895 4,800 sqft lot $68/sqft · 58% below area ↓ 11% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fixer upper in convenient location close to downtown DSM! This home offers tons of potential with original character.   Fenced in yard and carport with alley access. Great opportunity for sweat equity.

Key facts

• Alley access
• Carport
• Fenced in yard

Tags

• FENCED IN YARD
• CARPORT
• ALLEY ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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 (+8.2%/yr); 64 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent runs 34% 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 $7k of equity ($484 loan paydown + $7k appreciation (10.0% local appreciation)).
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.59%
• DSCR: 2.14
• GRM: 5.2

CMA / ARV

• ARV (median comp): $165,504
• List price: $70,000
• Delta: -57.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1503 13th St	0.27mi	3/1.0	1,070 (+3%)	1mo	$87,000	$81	81
1251 10th St	0.20mi	2/1.0 (-1)	938 (-10%)	2mo	$61,000	$65	68
1227 13th St	0.36mi	2/1.0 (-1)	986 (-5%)	3mo	$137,450	$139	67
1412 Chautauqua Pkwy	0.61mi	2/2.0 (-1)	1,038 (+0%)	2mo	$255,000	$246	60
1159 18th St	0.73mi	3/2.0	1,029 (-1%)	1mo	$217,000	$211	60
1821 12th St	0.45mi	3/3.0	1,097 (+6%)	2mo	$199,000	$181	60
2010 7th St	0.52mi	3/1.0	918 (-11%)	2mo	$154,000	$168	56
1054 14th St	0.65mi	2/1.0 (-1)	984 (-5%)	1mo	$56,000	$57	55
1142 12th St	0.48mi	4/2.0 (+1)	1,106 (+7%)	4mo	$244,000	$221	54
1457 17th St	0.57mi	3/1.0	910 (-12%)	0mo	$161,195	$177	53
1341 Clark St	0.38mi	2/1.0 (-1)	884 (-15%)	4mo	$133,000	$150	49
2001 10th St	0.53mi	2/1.0 (-1)	1,180 (+14%)	1mo	$194,500	$165	46

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: 46.5%
• Equity multiple: 4.61×
• Total profit: $70,695
• Equity at exit: $63,062

10-year hold

• IRR: 42.4%
• Equity multiple: 11.31×
• Total profit: $201,978
• Equity at exit: $135,995

Cash invested: $19,600 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,124 high
• Mortgage (P&I): −$367
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $418

Break-even live

Break-even rent $595

Max offer price $70,000

Occupancy floor 58%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1438 9th St Des Moines, IA	2.0	1.0	700	$745	$1.06	21d	1	0.05mi
1314 Harrison Ave Des Moines, IA	3.0	1.0	1150	$1,195	$1.04	23d	1	0.32mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	23d	1	0.48mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	43d	1	0.48mi
913 Day St Des Moines, IA	2.0	1.0	800	$900	$1.12	23d	1	0.58mi
1714 College Ave Des Moines, IA	3.0	1.0	1015	$1,050	$1.03	43d	1	0.64mi
1171 21st St Unit 1 Des Moines, IA	2.0	1.0	1028	$1,150	$1.12	43d	1	0.88mi
1171 21st St Unit 2 Des Moines, IA	4.0	1.0	1210	$1,300	$1.07	43d	1	0.88mi
1717 Olive Ave Unit B6 Des Moines, IA	2.0	2.0	1092	$1,700	$1.56	43d	1	0.92mi
1312 22nd St Unit 2 Des Moines, IA	2.0	1.0	841	$850	$1.01	43d	1	0.95mi
1312 22nd St Des Moines, IA	2.0	1.0	841	$825	$0.98	43d	1	0.95mi
1312 22nd St Unit 2 Des Moines, IA	2.0	1.0	841	$825	$0.98	23d	1	0.95mi
615 Park St Des Moines, IA	2.0	1.0	611	$1,215	$1.99	44d	10	0.99mi
615 Park St Des Moines, IA	2.0	1.0	611	$1,180	$1.93	43d	13	0.99mi
1718 22nd St Des Moines, IA	2.0	1.0	840	$995	$1.18	14d	1	1.01mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	14d	9	1.03mi
1217 24th St Des Moines, IA	2.0	1.0–2.0	618	$1,400	$2.26	14d	4	1.09mi
1123 24th St Unit 1 Des Moines, IA	3.0	1.0	850	$1,185	$1.39	43d	1	1.14mi
9066 Burkwood Dr West Des Moines, IA	3.0	2.5–3.5	1783	$1,960	$1.10	23d	2	1.16mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$1,092	$1.59	14d	25	1.16mi
1100 24th St Des Moines, IA	2.0	1.0	748	$1,050	$1.40	14d	1	1.18mi
1100 24th St Unit DT 22 Des Moines, IA	2.0	1.0	737	$1,095	$1.49	43d	1	1.18mi
1101 25th St Unit DP 11 Des Moines, IA	2.0	2.0	850	$1,315	$1.55	43d	1	1.21mi
2530 University Ave Des Moines, IA	2.0	1.0	647	$1,750	$2.70	14d	36	1.23mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	23d	1	1.24mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	43d	1	1.24mi
405 6th Ave Des Moines, IA	2.0	1.0–2.0	737	$1,200	$1.63	14d	14	1.25mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,500	$2.04	14d	4	1.28mi
1301 E 12th St Unit 2 Des Moines, IA	2.0	1.0	995	$795	$0.80	23d	1	1.28mi
604 Locust St Des Moines, IA	1.0–2.0	1.0–2.0	902	$1,743	$1.93	14d	5	1.29mi
1020 25th St Unit 3 Des Moines, IA	2.0	1.0	845	$1,150	$1.36	18d	1	1.31mi
2501 24th St Unit 121 Des Moines, IA	3.0	2.0	950	$995	$1.05	23d	1	1.32mi
333 E Grand Ave Des Moines, IA	2.0	1.0–2.0	668	$1,450	$2.17	23d	4	1.32mi
2501 24th St Apt 107 Des Moines, IA	3.0	2.0	950	$1,045	$1.10	14d	1	1.32mi
2501 24th St Unit 113 Des Moines, IA	2.0	1.0	750	$945	$1.26	43d	1	1.32mi
2501 24th St Des Moines, IA	2.0	1.0	910	$795	$0.87	23d	1	1.32mi
2501 24th St Apt 106 Des Moines, IA	4.0	2.0	1175	$1,245	$1.06	43d	1	1.32mi
2501 24th St Unit 101 Des Moines, IA	2.0	1.0	750	$725	$0.97	23d	1	1.32mi
2501 24th St Unit 111 Des Moines, IA	2.0	1.0	750	$760	$1.01	23d	1	1.32mi
2717 Meek Ave Des Moines, IA	2.0	2.0	1128	$1,550	$1.37	14d	1	1.32mi

Listing history 13 events

1. 2026-06-13
   statusdays on market $70,000 Pending 59 DOM
2. 2026-06-10
   days on market $70,000 Active 58 DOM
3. 2026-06-09
   days on market $70,000 Active 57 DOM
4. 2026-06-08
   days on market $70,000 Active 56 DOM
5. 2026-06-07
   days on market $70,000 Active 55 DOM
6. 2026-06-05
   pricedays on market $70,000 Active 52 DOM
7. 2026-06-03
   days on market $80,000 Active 51 DOM
8. 2026-06-02
   days on market $80,000 Active 50 DOM
9. 2026-06-01
   days on market $80,000 Active 49 DOM
10. 2026-05-31
    days on market $80,000 Active 48 DOM
11. 2026-05-31
    days on market $80,000 Active 47 DOM
12. 2026-05-06
    price $80,000 206-char remark

    Show marketing remark (206 chars)

    Fixer upper in convenient location close to downtown DSM! This home offers tons of potential with original character.   Fenced in yard and carport with alley access. Great opportunity for sweat equity.

13. 2026-04-13
    listed $90,000 Active 206-char remark

    Show marketing remark (206 chars)

    Fixer upper in convenient location close to downtown DSM! This home offers tons of potential with original character.   Fenced in yard and carport with alley access. Great opportunity for sweat equity.

ⓘ 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: $882 · $74/mo
• Projected year-2 tax: $990 · $83/mo
• Expected delta: +$108/yr (+$9/mo · 12.3%)

ⓘ 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: $13,485
• − Mortgage interest: −$3,921
• − Property taxes: −$882
• − Insurance: −$350
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − Depreciation: −$2,036
• Taxable income: $4,138
• Est. tax owed @ 24.0%: −$993
• After-tax cash flow: $4,023/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

-11.1% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $80,000 DMMLS
• 2026-04-13 Listed $90,000 DMMLS

Property tax history

+1.9%/yr

Latest (2025): $882 · +26.4% YoY. Source: county tax records.