1304 Hull Ave · Des Moines, IA 50316

$174,900

4 bd · 1.5 ba · 1,536 sqft · SingleFamily public records · 14 Days on market

Built 1900 8,760 sqft lot Est $186k · 6% 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 +15.3/30.0
• ARV discount +10.2/15.0
• 1% rule +4.7/10.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4 bedroom home. Main floor laundry with half bath. 2 car detached garage. Contract terms.

Key facts

• Formal dining room
• Washer dryer hookups
• 2 car garage

Tags

• FRONT SITTING ROOM
• FORMAL DINING ROOM
• KITCHEN WITH ISLAND SEATING
• HALF BATH ON MAIN FLOOR
• WASHER DRYER HOOKUPS
• 2 CAR GARAGE

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Detached two-car garage
• Utilities: Public water; Public sewer
• Home design: Zoned R1-60
• Construction: Metal siding; Block and brick/mortar foundation; Asphalt shingle roof
• Exterior features: Deck; Rectangular lot; Asphalt road access

Interior

• Kitchen: Dishwasher; Refrigerator; Stove
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Separate/formal dining room; Eat-in kitchen
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $63 ($761/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 $169k (3.3% below list).
• Recommended offer: $169k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Cattell Elementary School (math 42% / reading 42%, grade F, #563 of 616 statewide, top 93%, 322 students, 85% FRL); Harding Middle School (math 31% / reading 30%, grade F, #245 of 246 statewide, top 100%, 655 students, 90% FRL); North High School (math 33% / reading 45%, grade F, #326 of 336 statewide, top 97%, 1,458 students, 87% FRL) — zoned schools average 87% FRL vs 63% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 106 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1k of loan paydown is wiped out by about $5k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $125k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,132 (3.3% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.97% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $185,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1304 Hull Ave	0.00mi	4/1.5	1,536 (0%)	0mo	$167,000	$109	100
2416 York St	0.35mi	4/2.0	1,496 (-3%)	3mo	$176,021	$118	75
800 E Sheridan Ave	0.37mi	4/1.0	1,461 (-5%)	3mo	$177,500	$121	70
2318 E 11th St	0.49mi	4/1.0	1,456 (-5%)	1mo	$204,400	$140	66
2220 E 13th St	0.53mi	3/2.5 (-1)	1,558 (+1%)	3mo	$320,000	$205	62
1106 Arthur Ave	0.32mi	3/1.0 (-1)	1,414 (-8%)	5mo	$153,000	$108	61
618 Arthur Ave	0.49mi	4/3.0	1,599 (+4%)	7mo	$265,000	$166	58
2015 York St	0.67mi	3/1.0 (-1)	1,492 (-3%)	2mo	$130,000	$87	56
414 E Sheridan Ave	0.57mi	3/1.5 (-1)	1,456 (-5%)	5mo	$95,000	$65	55
3215 E 8th St	0.30mi	3/1.0 (-1)	1,368 (-11%)	7mo	$189,000	$138	55
2315 E 13th St	0.48mi	3/2.0 (-1)	1,346 (-12%)	1mo	$183,500	$136	49
1514 Guthrie Ave	0.58mi	3/1.0 (-1)	1,344 (-12%)	2mo	$162,000	$121	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.51×
• Total profit: $-24,238
• Equity at exit: $26,078

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-15,642
• Equity at exit: $15,122

Cash invested: $48,972 (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 50316

• Home prices YoY: -29.5%
• Active inventory: 106
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,691 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$283 /mo · $3,392/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $63

Break-even live

Break-even rent $1,611

Max offer price $174,900

Occupancy floor 91%

Sensitivity live

Price	-10% $162	-5% $113	+0% $63	+5% $14	+10% $-36
Rent	-10% $-70	-5% $-3	+0% $63	+5% $130	+10% $197
Rate	-1.0pp $151	-0.5pp $108	base $63	+0.5pp $18	+1.0pp $-28

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 2nd Ave Des Moines, IA	5.0	2.0	1308	$1,850	$1.41	16d	1	0.86mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	25d	1	1.01mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	16d	1	1.01mi
3410 5th Ave Des Moines, IA	4.0	2.0	1474	$1,550	$1.05	45d	1	1.12mi

Listing history 7 events

1. 2026-04-30
   status Pending
2. 2026-04-14
   listed $174,900 Active
3. 2016-06-07
   soldstatus $125,000
4. 2016-05-31
   soldstatus $125,000 98-char remark

   Show marketing remark (98 chars)

   Spacious 4 bedroom home. Main floor laundry with half bath. 2 car detached garage. Contract terms.

5. 2016-05-07
   listed $125,000 98-char remark

   Show marketing remark (98 chars)

   Spacious 4 bedroom home. Main floor laundry with half bath. 2 car detached garage. Contract terms.

6. 2014-01-30
   soldstatus $50,000 251-char remark

   Show marketing remark (251 chars)

   Lots of square footage here. Come see what this home has to offer-- first floor laundry with half bathroom with Full Bathroom upstairs with 4 bedrooms and a 2 car detached garage. Needs some updates but priced to sell so why not build your own equity.

7. 2013-11-12
   listed $54,900 251-char remark

   Show marketing remark (251 chars)

   Lots of square footage here. Come see what this home has to offer-- first floor laundry with half bathroom with Full Bathroom upstairs with 4 bedrooms and a 2 car detached garage. Needs some updates but priced to sell so why not build your own 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: $3,392 · $283/mo
• Projected year-2 tax: $3,392 · $283/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,296
• − Mortgage interest: −$9,797
• − Property taxes: −$3,392
• − Insurance: −$874
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$5,088
• Taxable loss: −$2,103
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $1,266/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
• City population: 203,612
• Population (ZIP): 16,188

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Black 12% Two or more races 12% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 1% Iranian 1%
• Foreign-born: 16% · Canada, Vietnam, Philippines
• Languages at home: 69% English-only · Spanish 20% Other Asian/Pacific 3% Vietnamese 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: ▼ -121.34%
• Current HPI: 290.3838
• Rent YoY: —
• Metro: —
• 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

+218.6% since first listed

7 events — show timeline

• 2026-04-30 Pending — DMMLS
• 2026-04-14 Listed $174,900 DMMLS
• 2016-06-07 Sold (Public Records) $125,000 Public Records
• 2016-05-31 Sold (MLS) $125,000 DMMLS
• 2016-05-07 Listed $125,000 DMMLS
• 2014-01-30 Sold (MLS) $50,000 DMMLS
• 2013-11-12 Listed $54,900 DMMLS

Property tax history

+3.7%/yr

Latest (2025): $3,392 · +2.0% YoY. Source: county tax records.