1243 Hackley Ave · Des Moines, IA 50315

$129,900

2 bd · 1.0 ba · 609 sqft · SingleFamily public records · 178 Days on market

Built 1929 7,013 sqft lot Est $102k · 27% over ↓ 7% since listing

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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 +15.1/30.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• 1% rule +3.7/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Great Investment Opportunity – 2 Bed, 1 Bath Home! This charming 2-bedroom, 1-bath property is the perfect investment or starter home! Featuring a spacious layout, bright natural light, and a large yard with plenty of potential, this home offers endless possibilities for investors or first-time buyers alike. With just a little TLC, it could be transformed into a high cash-flow rental or an attractive resale. Located in a convenient neighborhood 1 block from an elementary school, shopping, and major highways, this property combines affordability and opportunity in one neat package. Don’t miss your chance to own a solid investment in a growing area—schedule a showing today!

Key facts

• Large yard
• Bright natural light
• 7,013 sq ft lot

Tags

• LARGE YARD
• BRIGHT NATURAL LIGHT

Property features AI

Exterior

• Parking: Carport
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Single-story; Residential zoning; Block foundation
• Construction: Wood siding; Asphalt shingle roof; Block foundation; Built with crawl space
• Exterior features: Fully fenced yard; Rectangular lot; Concrete road access

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Dining area; Carpet and laminate flooring
• Laundry & utility: Laundry on main level

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 $42 ($509/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 $113k (13.4% below list).
• Recommended offer: $113k (13.4% 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: Wright Elementary School (math 52% / reading 37%, grade F, #548 of 616 statewide, top 90%, 273 students, 83% FRL); Brody Middle School (math 51% / reading 48%, grade C, #218 of 246 statewide, top 89%, 603 students, 74% FRL); Lincoln High School (math 43% / reading 58%, grade D+, #311 of 336 statewide, top 93%, 2,403 students, 76% FRL).
• Market conditions: Rents rising (+3.5%/yr); 227 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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 178 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,538 (13.4% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $102,312
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1243 Hackley Ave	0.00mi	2/1.0	609 (0%)	0mo	$120,000	$197	100
4916 SW 13th St	0.08mi	2/1.0	592 (-3%)	3mo	$92,000	$155	90
1018 Lewis Ave	0.42mi	2/1.0	625 (+3%)	3mo	$75,000	$120	74
5116 SW 13th St	0.08mi	1/1.0 (-1)	620 (+2%)	22mo	$140,000	$226	70
1201 Evans St	0.16mi	2/1.0	640 (+5%)	20mo	$47,000	$73	67
5405 SW 9th St	0.44mi	2/1.0	624 (+2%)	16mo	$92,000	$147	62
910 Lewis Ave	0.49mi	2/1.0	672 (+10%)	2mo	$176,000	$262	59
1003 Carrie Ave	0.59mi	2/1.0	580 (-5%)	19mo	$125,000	$216	48
919 Marion St	0.68mi	1/1.0 (-1)	624 (+2%)	17mo	$105,000	$168	45

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 · 3.48% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-17,818
• Equity at exit: $19,369

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-9,836
• Equity at exit: $11,231

Cash invested: $36,372 (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 50315

• Rents YoY: 3.5%
• Active inventory: 227
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,125 high
• Mortgage (P&I): −$681
• Tax from tax record: −$111 /mo · $1,336/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $42

Break-even live

Break-even rent $1,072

Max offer price $129,900

Occupancy floor 91%

Sensitivity live

Price	-10% $116	-5% $79	+0% $42	+5% $6	+10% $-31
Rent	-10% $-47	-5% $-2	+0% $42	+5% $87	+10% $131
Rate	-1.0pp $108	-0.5pp $75	base $42	+0.5pp $9	+1.0pp $-26

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5016 SW 13th St Des Moines, IA	2.0	1.0	676	$1,395	$2.06	45d	1	0.03mi
5015 SW 9th St Des Moines, IA	1.0–2.0	1.0	682	$910	$1.33	16d	5	0.43mi
1211 Lewis Ave Des Moines, IA	1.0	1.0	724	$1,095	$1.51	45d	1	0.45mi
5508 SW 8th St Des Moines, IA	1.0	1.0	624	$895	$1.43	46d	1	0.51mi
900 Elder Ln Unit 9 Des Moines, IA	1.0	1.0	575	$675	$1.17	16d	1	0.61mi
2221 Stanton Ave Des Moines, IA	1.0–2.0	1.0–2.0	853	$1,095	$1.28	16d	3	0.91mi
4805 South Union St Des Moines, IA	2.0	1.0	720	$1,245	$1.73	25d	1	0.91mi
211 E McKinley Ave Des Moines, IA	2.0–3.0	1.5–2.0	875	$847	$0.97	16d	4	1.05mi
6920 SW 9th St Apt 11 Des Moines, IA	2.0	1.0	750	$775	$1.03	45d	1	1.20mi
6920 SW 9th St Apt 12 Des Moines, IA	2.0	1.0	750	$750	$1.00	45d	1	1.20mi
6514 Chaffee Rd Des Moines, IA	1.0–2.0	1.0	683	$960	$1.40	16d	19	1.27mi
6924 Chaffee Rd Des Moines, IA	1.0–2.0	1.0	796	$1,038	$1.30	16d	14	1.39mi
116 Park Ave Des Moines, IA	2.0	1.0	728	$1,200	$1.65	45d	1	1.45mi

Listing history 6 events

1. 2026-04-29
   status Pending
2. 2026-02-02
   status Active
3. 2026-02-02
   price $129,900
4. 2026-01-31
   historical
5. 2025-12-08
   price $134,500
6. 2025-10-31
   listed $139,500 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: $1,336 · $111/mo
• Projected year-2 tax: $1,688 · $141/mo
• Expected delta: +$352/yr (+$29/mo · 26.3%)

ⓘ 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,505
• − Mortgage interest: −$7,276
• − Property taxes: −$1,336
• − Insurance: −$650
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$3,779
• Taxable loss: −$1,697
• Est. tax savings @ 24.0%: +$407
• After-tax cash flow: $916/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): 34,816
• Household income: $60,590
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1072.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 19% Two or more races 11% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, Philippines
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -259.03%
• Current HPI: 269.7231
• Rent YoY: ▲ 3.48%
• 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

-6.9% since first listed

6 events — show timeline

• 2026-04-29 Pending — DMMLS
• 2026-02-02 Relisted — DMMLS
• 2026-02-02 Price Changed $129,900 DMMLS
• 2026-01-31 Listing Removed — DMMLS
• 2025-12-08 Price Changed $134,500 DMMLS
• 2025-10-31 Listed $139,500 DMMLS

Property tax history

+2.7%/yr

Latest (2025): $1,336 · +2.0% YoY. Source: county tax records.