5413 SE 5th St · Des Moines, IA 50315

$120,000

4 bd · 1.0 ba · 1,034 sqft · SingleFamily public records · 1 Days on market

Built 1979 0.32 ac lot

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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 +20.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +6.6/10.0
• 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

This property has huge potential for investors or a family to put in some work to make a wonderful place to live. The estate is selling this property AS-IS. This split foyer has a big footprint and would be great for a family needing space, also has a 24x30 two car detached garage. Call your Realtor to show!!

Key facts

• 0.32 acre lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Detached two-car garage
• Utilities: Public water
• Home design: Brick and wood siding construction
• Construction: Asphalt shingle roof; Poured foundation; Below-grade finished area (approximately 500)
• Exterior features: Wood fencing; Above-ground pool; Rectangular lot; Concrete road access; Lot dimensions 60 x 231

Interior

• Kitchen: Dishwasher; Refrigerator; Stove
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Partially finished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 7.9% 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $830 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.18% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $242,990
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
721 E Porter Ave	0.18mi	3/2.0 (-1)	1,044 (+1%)	0mo	$244,000	$234	80
310 E Emma Ave	0.60mi	4/2.0	1,028 (-1%)	2mo	$242,000	$235	65
315 E Philip St	0.62mi	4/2.0	1,020 (-1%)	0mo	$250,000	$245	64
448 Scandia Ave	0.61mi	3/2.0 (-1)	1,052 (+2%)	2mo	$260,000	$247	57
613 Cummins Rd	0.41mi	4/3.0	1,102 (+7%)	6mo	$260,000	$236	57
4512 SE 6th St	0.55mi	3/1.0 (-1)	960 (-7%)	1mo	$222,400	$232	57
518 E Mckinley Ave	0.45mi	3/2.0 (-1)	1,144 (+11%)	4mo	$216,500	$189	49
209 E Philip St	0.69mi	3/1.0 (-1)	1,122 (+8%)	5mo	$185,000	$165	45
5805 SW 4th St	0.73mi	4/2.0	894 (-14%)	0mo	$235,000	$263	39
126 E Maxwelton Dr	0.71mi	3/1.0 (-1)	1,178 (+14%)	3mo	$159,000	$135	36
4316 SE 4th St	0.73mi	3/2.0 (-1)	912 (-12%)	5mo	$235,000	$258	33
409 Wilmers Ave	0.66mi	3/3.0 (-1)	1,167 (+13%)	4mo	$246,000	$211	32

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-8,343
• Equity at exit: $17,892

10-year hold

• IRR: 3.7%
• Equity multiple: 1.28×
• Total profit: $9,287
• Equity at exit: $10,375

Cash invested: $33,600 (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 50315

• Rents YoY: 3.5%
• Active inventory: 227
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,422 high
• Mortgage (P&I): −$629
• Tax from tax record: −$282 /mo · $3,386/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $162

Break-even live

Break-even rent $1,217

Max offer price $120,000

Occupancy floor 84%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 E Kenyon Ave Des Moines, IA	3.0	1.5	1000	$1,395	$1.40	23d	1	0.49mi
211 E McKinley Ave Des Moines, IA	2.0–3.0	1.5–2.0	875	$997	$1.14	14d	4	0.52mi
204 E Leland Ave Des Moines, IA	3.0	1.0	1040	$1,595	$1.53	14d	1	0.56mi
201 McKinley Ave Des Moines, IA	3.0	1.0	840	$1,350	$1.61	43d	1	0.73mi
4421 SE 14th St Unit 201 Des Moines, IA	3.0	2.0	1188	$1,050	$0.88	43d	1	0.80mi
5000 SW 8th St Des Moines, IA	3.0	1.0	956	$1,340	$1.40	23d	1	0.96mi
939 Kenyon Ave Des Moines, IA	3.0	1.5	950	$1,350	$1.42	43d	1	1.12mi
4076 Indianola Ave Des Moines, IA	3.0	1.0	800	$1,800	$2.25	43d	1	1.21mi
315 Miller Ave Des Moines, IA	3.0	1.0	1018	$1,595	$1.57	43d	1	1.43mi
4201 Windsor Pl Des Moines, IA	3.0	2.0	1544	$1,299	$0.84	14d	1	1.47mi

Listing history 2 events

1. 2026-05-28
   status Pending
2. 2026-05-28
   listed $120,000 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: $3,386 · $282/mo
• Projected year-2 tax: $3,386 · $282/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 3/10 Moderate
• 🌡 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: $17,063
• − Mortgage interest: −$6,722
• − Property taxes: −$3,386
• − Insurance: −$600
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$3,491
• Taxable income: $134
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $1,910/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

2 events — show timeline

• 2026-05-28 Pending — DMMLS
• 2026-05-28 Listed $120,000 DMMLS

Property tax history

+1.6%/yr

Latest (2025): $3,386 · -1.7% YoY. Source: county tax records.