688 Bridal Row · Des Moines, IA 50314

$329,900

3 bd · 1.5 ba · 1,790 sqft · SingleFamily public records · 81 Days on market

Built 1888 3,163 sqft lot $184/sqft · 16% below area Est $394k · 16% 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).

• ARV discount +14.8/15.0
• Appreciation +10.0/10.0
• Rent growth +4.5/5.0
• Cash flow +4.2/30.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0

Listing remarks MLS

INVESTOR OPPPORTUNITY! Located just north of Hoyt Sherman Place and on the fringe of downtown, home is an absolutely PERFECT Airbnb or full-time rental property (with a current rental certificate already in place) . .. or make this your very own story-book home w/ timeless character & urban conveniences. Built in 1888, live on one of the very first streets in Des Moines: Bridal Row. This iconic Queen Anne gem places you just blocks from downtown dining, parks, festivals, and nightlife, while offering a peaceful retreat at home with a welcoming front portico and fully fenced backyard. Inside, nearly 1,800 square feet showcases craftsmanship you simply can’t recreate today. A stunning two-story foyer with dual staircases sets the tone, leading into spaces filled with rich hardwood floors, intricate trim, thick pocket doors, and original built-ins. The main level offers a formal dining room, a living room with fireplace, an updated 1/2 bath, a den/flex room with moveable transoms, a delightful 2-story walk-in pantry, and a thoughtfully updated kitchen that blends modern function with historic charm. Upstairs, you’ll find three bedrooms plus a versatile sunset loft; perfect for an office or reading nook, along with a full bath featuring a classic claw-foot tub. Home has just been professionally painted throughout. Quaint character, mixed with vibrant energy of downtown. Own a piece of DSM history here in Sherman Hill. Offered @ $329,900 thanks!

Key facts

• Formal dining room
• Rich hardwood floors
• Original built ins

Tags

• FULLY FENCED BACKYARD
• TWO STORY FOYER
• RICH HARDWOOD FLOORS
• ORIGINAL BUILT INS
• FORMAL DINING ROOM
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-901 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (48.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (44.1% below list).
• Recommended offer: $171k (48.2% below list) — sets the bar for cash-flow.

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: Edmunds Elementary School (math 27% / reading 27%, grade F, #607 of 616 statewide, top 99%, 268 students, 98% FRL); Callanan Middle School (math 50% / reading 47%, grade C-, #222 of 246 statewide, top 91%, 507 students, 77% FRL); Roosevelt High School (math 57% / reading 72%, grade B-, #211 of 336 statewide, top 70%, 1,986 students, 53% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 64 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $1,844/mo this rent would consume 55% of the median local household income ($40k/yr) (locally 903% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $229k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,742 (48.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.56% ✗
• Cap rate: 3.02%
• Cash-on-cash: -11.70%
• DSCR: 0.48
• GRM: 14.9

CMA / ARV

• ARV (median comp): $393,813
• List price: $329,900
• Delta: -16.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 Center St	0.26mi	3/2.5	1,823 (+2%)	11mo	$410,500	$225	72
736 20th St	0.32mi	4/2.0 (+1)	1,934 (+8%)	1mo	$355,000	$184	64
2100 Olive Ave	0.49mi	2/2.0 (-1)	1,675 (-6%)	10mo	$490,000	$293	52
828 25th St	0.71mi	4/2.0 (+1)	1,874 (+5%)	7mo	$238,500	$127	46
918 24th St	0.67mi	3/2.0	1,596 (-11%)	6mo	$239,000	$150	43
1128 10th St	0.71mi	4/3.0 (+1)	1,655 (-8%)	2mo	$245,000	$148	42
678 26th St	0.75mi	4/1.0 (+1)	1,632 (-9%)	5mo	$120,000	$74	40
913 24th St	0.65mi	3/2.0	1,550 (-13%)	14mo	$269,900	$174	34

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: 17.3%
• Equity multiple: 2.43×
• Total profit: $132,111
• Equity at exit: $297,200

10-year hold

• IRR: 17.2%
• Equity multiple: 5.96×
• Total profit: $458,465
• Equity at exit: $640,923

Cash invested: $92,372 (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 50314

• Home prices YoY: 9.8%
• Rents YoY: 8.2%
• Active inventory: 64
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$490 /mo · $5,884/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $-901

Break-even live

Break-even rent $2,985

Max offer price $170,742

Occupancy floor —

Sensitivity live

Price	-10% $-714	-5% $-808	+0% $-901	+5% $-994	+10% $-1,088
Rent	-10% $-1,047	-5% $-974	+0% $-901	+5% $-828	+10% $-755
Rate	-1.0pp $-735	-0.5pp $-817	base $-901	+0.5pp $-986	+1.0pp $-1,073

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1201 Center St Des Moines, IA	2.0	2.5	2141	$2,450	$1.14	24d	5	0.32mi
1345 Keosauqua Way Des Moines, IA	2.0	2.5	1550	$2,045	$1.32	46d	1	0.41mi
9066 Burkwood Dr West Des Moines, IA	3.0	2.5–3.5	1783	$1,960	$1.10	26d	2	0.56mi
210 SW 11th St Des Moines, IA	3.0	1.0–2.5	947	$2,827	$2.98	17d	90	0.79mi
522 SW 12th St Des Moines, IA	3.0	3.0	2288	$2,495	$1.09	46d	1	0.98mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	17d	9	1.23mi
2940 Brattleboro Ave Unit 2 Des Moines, IA	3.0	2.0	1250	$1,300	$1.04	17d	1	1.26mi
707 35th St Des Moines, IA	3.0	1.0	1546	$1,995	$1.29	17d	1	1.34mi
1637 23rd St Des Moines, IA	4.0	2.0	1743	$1,595	$0.92	46d	1	1.40mi
100 Jackson Ave Des Moines, IA	3.0	1.0–2.0	885	$1,718	$1.94	17d	21	1.48mi

Listing history 31 events

1. 2026-06-23
   days on market $329,900 Active 81 DOM
2. 2026-06-21
   days on market $329,900 Active 80 DOM
3. 2026-06-18
   days on market $329,900 Active 77 DOM
4. 2026-06-17
   days on market $329,900 Active 76 DOM
5. 2026-06-16
   days on market $329,900 Active 75 DOM
6. 2026-06-15
   days on market $329,900 Active 74 DOM
7. 2026-06-14
   days on market $329,900 Active 72 DOM
8. 2026-06-13
   days on market $329,900 Active 71 DOM
9. 2026-06-10
   days on market $329,900 Active 69 DOM
10. 2026-06-09
    days on market $329,900 Active 68 DOM
11. 2026-06-08
    days on market $329,900 Active 67 DOM
12. 2026-06-07
    days on market $329,900 Active 66 DOM
13. 2026-06-05
    days on market $329,900 Active 63 DOM
14. 2026-06-03
    days on market $329,900 Active 62 DOM
15. 2026-06-02
    days on market $329,900 Active 61 DOM
16. 2026-06-01
    days on market $329,900 Active 60 DOM
17. 2026-05-31
    days on market $329,900 Active 59 DOM
18. 2026-05-31
    days on market $329,900 Active 58 DOM
19. 2026-05-08
    price $329,900 1485-char remark

    Show marketing remark (1485 chars)

    INVESTOR OPPPORTUNITY! Located just north of Hoyt Sherman Place and on the fringe of downtown, home is an absolutely PERFECT Airbnb or full-time rental property (with a current rental certificate already in place) . .. or make this your very own story-book home w/ timeless character & urban conveniences. Built in 1888, live on one of the very first streets in Des Moines: Bridal Row. This iconic Queen Anne gem places you just blocks from downtown dining, parks, festivals, and nightlife, while offering a peaceful retreat at home with a welcoming front portico and fully fenced backyard. Inside, nearly 1,800 square feet showcases craftsmanship you simply can’t recreate today. A stunning two-story foyer with dual staircases sets the tone, leading into spaces filled with rich hardwood floors, intricate trim, thick pocket doors, and original built-ins. The main level offers a formal dining room, a living room with fireplace, an updated 1/2 bath, a den/flex room with moveable transoms, a delightful 2-story walk-in pantry, and a thoughtfully updated kitchen that blends modern function with historic charm. Upstairs, you’ll find three bedrooms plus a versatile sunset loft; perfect for an office or reading nook, along with a full bath featuring a classic claw-foot tub. Home has just been professionally painted throughout. Quaint character, mixed with vibrant energy of downtown. Own a piece of DSM history here in Sherman Hill. Offered @ $329,900 thanks!

20. 2026-04-01
    listed $340,000 Active 1485-char remark

    Show marketing remark (1485 chars)

    INVESTOR OPPPORTUNITY! Located just north of Hoyt Sherman Place and on the fringe of downtown, home is an absolutely PERFECT Airbnb or full-time rental property (with a current rental certificate already in place) . .. or make this your very own story-book home w/ timeless character & urban conveniences. Built in 1888, live on one of the very first streets in Des Moines: Bridal Row. This iconic Queen Anne gem places you just blocks from downtown dining, parks, festivals, and nightlife, while offering a peaceful retreat at home with a welcoming front portico and fully fenced backyard. Inside, nearly 1,800 square feet showcases craftsmanship you simply can’t recreate today. A stunning two-story foyer with dual staircases sets the tone, leading into spaces filled with rich hardwood floors, intricate trim, thick pocket doors, and original built-ins. The main level offers a formal dining room, a living room with fireplace, an updated 1/2 bath, a den/flex room with moveable transoms, a delightful 2-story walk-in pantry, and a thoughtfully updated kitchen that blends modern function with historic charm. Upstairs, you’ll find three bedrooms plus a versatile sunset loft; perfect for an office or reading nook, along with a full bath featuring a classic claw-foot tub. Home has just been professionally painted throughout. Quaint character, mixed with vibrant energy of downtown. Own a piece of DSM history here in Sherman Hill. Offered @ $329,900 thanks!

21. 2022-07-03
    price $1,825
22. 2020-02-20
    historical
23. 2019-10-21
    listed $239,900 Active
24. 2019-03-01
    soldstatus $229,000 Sold
25. 2019-01-18
    status Pending
26. 2019-01-16
    listed $235,000 Active
27. 2018-04-03
    soldstatus $199,000
28. 2018-03-30
    soldstatus $199,000 Sold
29. 2017-09-28
    listed $225,000
30. 2017-06-22
    historical
31. 2017-06-01
    listed $150,000

ⓘ 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: $5,884 · $490/mo
• Projected year-2 tax: $5,884 · $490/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: $22,130
• − Mortgage interest: −$18,480
• − Property taxes: −$5,884
• − Insurance: −$1,650
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$9,597
• Taxable loss: −$17,021
• Est. tax savings @ 24.0%: +$4,085
• After-tax cash flow: $-6,726/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

+119.9% since first listed

13 events — show timeline

• 2026-05-08 Price Changed $329,900 DMMLS
• 2026-04-01 Listed $340,000 DMMLS
• 2022-07-03 Price Changed $1,825 RENT.
• 2020-02-20 Listing Removed — DMMLS
• 2019-10-21 Listed $239,900 DMMLS
• 2019-03-01 Sold (MLS) $229,000 DMMLS
• 2019-01-18 Pending — DMMLS
• 2019-01-16 Listed $235,000 DMMLS
• 2018-04-03 Sold (Public Records) $199,000 Public Records
• 2018-03-30 Sold (MLS) $199,000 DMMLS
• 2017-09-28 Listed $225,000 DMMLS
• 2017-06-22 Listing Removed — DMMLS
• 2017-06-01 Listed $150,000 DMMLS

Property tax history

+6.0%/yr

Latest (2025): $5,884 · +2.0% YoY. Source: county tax records.