7103 SW 16th St · Des Moines, IA 50315

$115,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 41 Days on market

Built 1953 8,700 sqft lot $150/sqft · 28% below area Est $159k · 28% under

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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 +15.3/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great potential, everything on one level. Needs work. Property is in foreclosure and is sold in "as is" condition. NO disclosures, NO warranties, NO guarantees.

Key facts

• 8,700 sq ft lot
• Garage
• Built 1953

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Brick construction; Asphalt shingle roof; Poured foundation; Built on a 0.2-acre lot
• Exterior features: Concrete road access

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Crawl space
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $41 ($493/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 $108k (6.4% below list).
• Recommended offer: $108k (6.4% 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-, 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 (+3.5%/yr); 227 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $795 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $30k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,627 (6.4% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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: 0.94% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 8.9

CMA / ARV

• ARV (median comp): $159,492
• List price: $115,000
• Delta: -27.90%
• 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
6912 SW 15th St	0.11mi	2/1.0	768 (0%)	2mo	$156,500	$204	93
6825 SW 15th St	0.15mi	2/1.0	768 (0%)	1mo	$113,248	$147	92
6824 SW 15th St	0.14mi	2/1.0	768 (0%)	2mo	$140,000	$182	92
6811 SW 13th St	0.30mi	2/1.0	748 (-3%)	0mo	$203,000	$271	81
1208 Burnham Ave	0.38mi	2/1.0	768 (0%)	3mo	$169,500	$221	80
1352 Johnson St	0.15mi	2/1.0	672 (-12%)	2mo	$146,000	$217	70
1328 Johnson St	0.18mi	3/2.0 (+1)	672 (-12%)	0mo	$175,000	$260	62
1159 Mason Ave	0.42mi	2/1.0	672 (-12%)	0mo	$166,500	$248	59
1199 Mason Ave	0.37mi	3/2.0 (+1)	696 (-9%)	1mo	$226,000	$325	57
6301 SW 10th St	0.71mi	2/1.0	800 (+4%)	9mo	$160,000	$200	52
7611 SW 11th St	0.55mi	3/2.0 (+1)	864 (+12%)	4mo	$216,000	$250	41
7707 SW 10th Pl	0.62mi	3/1.5 (+1)	864 (+12%)	8mo	$111,000	$128	37

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-15,470
• Equity at exit: $17,147

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-7,835
• Equity at exit: $9,943

Cash invested: $32,200 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,076 high
• Mortgage (P&I): −$603
• Tax from tax record: −$158 /mo · $1,898/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $41

Break-even live

Break-even rent $1,024

Max offer price $115,000

Occupancy floor 91%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7440 Southview Dr Des Moines, IA	3.0	1.0	960	$1,525	$1.59	14d	1	0.41mi
6920 SW 9th St Apt 12 Des Moines, IA	2.0	1.0	750	$750	$1.00	44d	1	0.62mi
6920 SW 9th St Apt 11 Des Moines, IA	2.0	1.0	750	$775	$1.03	44d	1	0.62mi
6800 SW 9th St Des Moines, IA	1.0	1.0	818	$902	$1.10	14d	3	0.64mi
6924 Chaffee Rd Des Moines, IA	1.0–2.0	1.0	796	$1,038	$1.30	14d	14	1.05mi
6514 Chaffee Rd Des Moines, IA	1.0–2.0	1.0	683	$960	$1.40	14d	19	1.10mi
1013 1/2 Kenyon Ave Des Moines, IA	2.0	1.0	768	$875	$1.14	44d	1	1.18mi
5508 SW 8th St Des Moines, IA	1.0	1.0	624	$895	$1.43	44d	1	1.19mi
939 Kenyon Ave Des Moines, IA	3.0	1.5	950	$1,350	$1.42	44d	1	1.21mi
5016 SW 13th St Des Moines, IA	2.0	1.0	676	$1,395	$2.06	44d	1	1.30mi
23 E Lally St Des Moines, IA	2.0	1.0	844	$1,245	$1.48	21d	1	1.30mi
204 E Leland Ave Des Moines, IA	3.0	1.0	1040	$1,595	$1.53	14d	1	1.42mi
5015 SW 9th St Des Moines, IA	1.0–2.0	1.0	682	$910	$1.33	14d	5	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $115,000 Active 41 DOM
2. 2026-06-17
   days on market $115,000 Active 40 DOM
3. 2026-06-16
   days on market $115,000 Active 39 DOM
4. 2026-06-15
   days on market $115,000 Active 38 DOM
5. 2026-06-14
   days on market $115,000 Active 36 DOM
6. 2026-06-13
   days on market $115,000 Active 35 DOM
7. 2026-06-10
   days on market $115,000 Active 33 DOM
8. 2026-06-09
   days on market $115,000 Active 32 DOM
9. 2026-06-08
   days on market $115,000 Active 31 DOM
10. 2026-06-07
    days on market $115,000 Active 30 DOM
11. 2026-06-05
    days on market $115,000 Active 27 DOM
12. 2026-06-03
    days on market $115,000 Active 26 DOM
13. 2026-06-02
    days on market $115,000 Active 25 DOM
14. 2026-06-01
    days on market $115,000 Active 24 DOM
15. 2026-05-31
    days on market $115,000 Active 23 DOM
16. 2026-05-31
    days on market $115,000 Active 22 DOM
17. 2026-05-13
    price $115,000 905-char remark
18. 2026-05-08
    listed $145,000 Active 905-char remark
19. 2025-03-04
    soldstatus $120,000
20. 2008-02-15
    soldstatus $30,000 170-char remark

    Show marketing remark (170 chars)

    Great potential, everything on one level. Needs work. Property is in foreclosure and is sold in "as is" condition. NO disclosures, NO warranties, NO guarantees.

21. 2007-09-10
    listed $42,000 170-char remark

    Show marketing remark (170 chars)

    Great potential, everything on one level. Needs work. Property is in foreclosure and is sold in "as is" condition. NO disclosures, NO warranties, NO guarantees.

ⓘ 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: $1,898 · $158/mo
• Projected year-2 tax: $1,898 · $158/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 ≥104°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: $12,915
• − Mortgage interest: −$6,442
• − Property taxes: −$1,898
• − Insurance: −$575
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$3,345
• Taxable loss: −$1,411
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $832/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

+173.8% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $115,000 DMMLS
• 2026-05-08 Listed $145,000 DMMLS
• 2025-03-04 Sold (Public Records) $120,000 Public Records
• 2008-02-15 Sold (MLS) $30,000 DMMLS
• 2007-09-10 Listed $42,000 DMMLS

Property tax history

+6.1%/yr

Latest (2025): $1,898 · +2.0% YoY. Source: county tax records.