2720 Glover Ave · Des Moines, IA 50315

$119,500

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 328 Days on market

Built 1916 6,571 sqft lot Est $157k · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +13.9/30.0
• 1% rule +4.2/10.0
• DSCR +4.2/10.0
• 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

Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

Key facts

• Recent updates
• Investment potential
• Detached garage

Tags

• INVESTMENT POTENTIAL
• RECENT UPDATES
• DETACHED GARAGE
• CURRENT RENTAL CERTIFICATE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $13 ($158/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 $110k (7.7% below list).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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: Park Ave Elementary School (math 42% / reading 42%, grade F, #563 of 616 statewide, top 93%, 378 students, 80% 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; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $826 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 328 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y ago; this cycle's ask has dropped $26k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 328 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $156,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2720 Glover Ave	0.00mi	2/1.0	784 (0%)	3mo	$116,000	$148	98
1105 Kirkwood Ave	0.32mi	2/1.0	740 (-6%)	8mo	$123,400	$167	70
3425 SW 13th St	0.57mi	2/2.0	768 (-2%)	4mo	$183,000	$238	62
613 Hughes Ave	0.52mi	2/1.0	813 (+4%)	10mo	$163,000	$200	61
915 Wolcott Ave	0.67mi	2/1.0	792 (+1%)	7mo	$104,000	$131	61
101 Lacona Ave	0.65mi	2/2.0	768 (-2%)	3mo	$174,000	$227	60
3515 Keyes Dr	0.58mi	2/1.5	816 (+4%)	8mo	$165,000	$202	58
505 Kirkwood Ave	0.56mi	2/1.0	720 (-8%)	3mo	$122,000	$169	57
3126 SW 12th Pl	0.34mi	3/1.0 (+1)	876 (+12%)	4mo	$228,000	$260	56
416 Pleasant View Dr	0.49mi	3/1.0 (+1)	850 (+8%)	5mo	$161,500	$190	54
801 Boulder Ave	0.34mi	3/2.0 (+1)	892 (+14%)	1mo	$218,000	$244	51
412 Fulton Dr	0.72mi	2/2.0	880 (+12%)	1mo	$167,500	$190	41

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-17,955
• Equity at exit: $17,818

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-12,189
• Equity at exit: $10,332

Cash invested: $33,460 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,103 high
• Mortgage (P&I): −$627
• Tax from tax record: −$182 /mo · $2,184/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $13

Break-even live

Break-even rent $1,087

Max offer price $119,500

Occupancy floor 94%

Sensitivity live

Price	-10% $81	-5% $47	+0% $13	+5% $-21	+10% $-55
Rent	-10% $-74	-5% $-30	+0% $13	+5% $57	+10% $100
Rate	-1.0pp $73	-0.5pp $44	base $13	+0.5pp $-18	+1.0pp $-49

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2440 SW 9th St Unit 5 Des Moines, IA	2.0	1.0	780	$1,100	$1.41	45d	1	0.25mi
701 Loomis Ave Unit 7011 Des Moines, IA	2.0	1.0	600	$800	$1.33	16d	1	0.29mi
815 Boulder Ave Des Moines, IA	1.0	1.0	800	$745	$0.93	45d	1	0.34mi
1914 Casady Dr Des Moines, IA	2.0	1.0	800	$798	$1.00	16d	3	0.67mi
1910 Casady Dr Des Moines, IA	2.0	1.0	800	$795	$0.99	45d	1	0.69mi
315 Miller Ave Des Moines, IA	3.0	1.0	1018	$1,595	$1.57	45d	1	0.73mi
116 Park Ave Des Moines, IA	2.0	1.0	728	$1,200	$1.65	45d	1	0.73mi
3810 SW 12th St Des Moines, IA	2.0	1.0	790	$1,095	$1.39	25d	1	0.78mi
612 Bancroft St Unit 618-2 Des Moines, IA	1.0	1.0	525	$775	$1.48	21d	1	0.79mi
700 Monona Ave Des Moines, IA	1.0–2.0	1.0	875	$1,100	$1.26	25d	3	0.84mi
703 Monona Ave Des Moines, IA	2.0	1.0	850	$1,100	$1.29	16d	3	0.87mi
701 Monona Ave Des Moines, IA	1.0–2.0	1.0	825	$1,100	$1.33	25d	2	0.90mi
2800 Fleur Dr Des Moines, IA	1.0–3.0	1.0–2.0	940	$812	$0.86	16d	7	0.91mi
2270 Bell Ave Unit 103 Des Moines, IA	2.0	1.0	800	$1,150	$1.44	45d	1	0.93mi
2270 Bell Ave Unit 223 Des Moines, IA	1.0	1.0	750	$1,075	$1.43	25d	1	0.93mi
2270 Bell Ave Apt 100 Des Moines, IA	2.0	1.0	800	$959	$1.20	45d	1	0.93mi
2270 Bell Ave Unit 416 Des Moines, IA	1.0	1.0	700	$899	$1.28	25d	1	0.93mi
2270 Bell Ave Apt 303 Des Moines, IA	2.0	1.0	800	$1,059	$1.32	45d	1	0.93mi
2270 Bell Ave Apt 314 Des Moines, IA	1.0	1.0	700	$925	$1.32	25d	1	0.93mi
2715 SW 23rd St Des Moines, IA	1.0	1.0	650	$672	$1.03	16d	3	0.96mi
1085 Dart Way Unit 204 Des Moines, IA	1.0	1.0	595	$1,200	$2.02	25d	1	1.02mi
1012 Carrie Ave Des Moines, IA	2.0	1.0	1100	$1,700	$1.55	23d	1	1.04mi
404 E Pleasant View Dr Des Moines, IA	3.0	2.0	936	$1,125	$1.20	45d	1	1.08mi
580 SW 9th St Unit 302 Des Moines, IA	1.0	1.0	650	$1,275	$1.96	25d	1	1.08mi
900 Elder Ln Unit 9 Des Moines, IA	1.0	1.0	575	$675	$1.17	16d	1	1.11mi
550 SW 9th St Unit 407 Des Moines, IA	1.0	1.0	694	$1,375	$1.98	16d	1	1.13mi
1211 Lewis Ave Des Moines, IA	1.0	1.0	724	$1,095	$1.51	45d	1	1.16mi
400 SW 11th St Des Moines, IA	1.0	1.0	841	$1,544	$1.83	16d	9	1.17mi
425 SW 11th St Des Moines, IA	2.0	1.0–2.0	879	$2,384	$2.71	16d	38	1.18mi
100 Jackson Ave Des Moines, IA	3.0	1.0–2.0	885	$1,461	$1.65	16d	21	1.23mi
3310 SE 5th St Des Moines, IA	2.0	1.0	700	$1,150	$1.64	45d	1	1.25mi
210 SW 11th St Des Moines, IA	3.0	1.0–2.5	947	$2,283	$2.41	16d	90	1.34mi
320 SW 7th St Des Moines, IA	1.0–2.0	1.0–2.0	920	$1,459	$1.59	16d	10	1.39mi
1405 SE 1st St Des Moines, IA	1.0–2.0	1.0–2.0	802	$1,435	$1.79	16d	8	1.43mi
2221 Stanton Ave Des Moines, IA	1.0–2.0	1.0–2.0	853	$1,095	$1.28	16d	3	1.45mi
201 McKinley Ave Des Moines, IA	3.0	1.0	840	$1,350	$1.61	45d	1	1.49mi

Listing history 28 events

1. 2026-03-30
   soldstatus $116,000
2. 2026-03-02
   status Pending
3. 2026-02-17
   price $119,500
4. 2026-01-05
   price $124,500
5. 2025-11-11
   price $127,500
6. 2025-10-08
   status Active
7. 2025-10-01
   historical
8. 2025-09-29
   price $129,950
9. 2025-07-23
   price $132,500
10. 2025-06-16
    price $134,990
11. 2025-04-28
    price $139,990
12. 2025-04-01
    listed $145,000 Active
13. 2025-02-19
    historical $1,000
14. 2025-02-16
    listed $1,000
15. 2022-04-25
    soldstatus $115,000
16. 2022-04-22
    soldstatus $115,000 Closed 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

17. 2022-03-16
    status Pending 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

18. 2022-03-11
    historical 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

19. 2022-02-28
    status Active 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

20. 2022-02-18
    status Pending 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

21. 2022-01-31
    price $124,900 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

22. 2021-11-19
    price $129,000 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

23. 2021-11-12
    listed $134,000 Active 379-char remark

    Show marketing remark (379 chars)

    Welcome home to this charmer that has several updates including flooring, windows and updated bathroom. The front room is a flex area that has been used as a bedroom, office and music/gaming room. The DRY basement has plenty of room to add additional bedrooms, or workout area. The oversized garage will allow for your vehicle and outdoor toys and storage. New furnace 2/26/2022.

24. 2017-05-10
    historical
25. 2016-12-28
    listed $70,000
26. 2016-09-30
    historical
27. 2016-03-22
    listed $82,500
28. 2006-10-06
    soldstatus $56,000

ⓘ 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: $2,184 · $182/mo
• Projected year-2 tax: $2,184 · $182/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: $13,240
• − Mortgage interest: −$6,694
• − Property taxes: −$2,184
• − Insurance: −$598
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,476
• Taxable loss: −$1,830
• Est. tax savings @ 24.0%: +$439
• After-tax cash flow: $597/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

+107.1% since first listed

28 events — show timeline

• 2026-03-30 Sold (Public Records) $116,000 Public Records
• 2026-03-02 Pending — DMMLS
• 2026-02-17 Price Changed $119,500 DMMLS
• 2026-01-05 Price Changed $124,500 DMMLS
• 2025-11-11 Price Changed $127,500 DMMLS
• 2025-10-08 Relisted — DMMLS
• 2025-10-01 Listing Removed — DMMLS
• 2025-09-29 Price Changed $129,950 DMMLS
• 2025-07-23 Price Changed $132,500 DMMLS
• 2025-06-16 Price Changed $134,990 DMMLS
• 2025-04-28 Price Changed $139,990 DMMLS
• 2025-04-01 Listed $145,000 DMMLS
• 2025-02-19 Rental Removed $1,000 APPFOLIO
• 2025-02-16 Listed for Rent $1,000 APPFOLIO
• 2022-04-25 Sold (Public Records) $115,000 Public Records
• 2022-04-22 Sold (MLS) $115,000 DMMLS
• 2022-03-16 Pending — DMMLS
• 2022-03-11 Listing Removed — DMMLS
• 2022-02-28 Relisted — DMMLS
• 2022-02-18 Pending — DMMLS
• 2022-01-31 Price Changed $124,900 DMMLS
• 2021-11-19 Price Changed $129,000 DMMLS
• 2021-11-12 Listed $134,000 DMMLS
• 2017-05-10 Listing Removed — DMMLS
• 2016-12-28 Listed $70,000 DMMLS
• 2016-09-30 Listing Removed — DMMLS
• 2016-03-22 Listed $82,500 DMMLS
• 2006-10-06 Sold (Public Records) $56,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,184 · +2.1% YoY. Source: county tax records.