817 Buchanan St · Des Moines, IA 50316

$160,000

3 bd · 3.0 ba · 1,570 sqft · SingleFamily public records · 8 Days on market

Built 1885 7,500 sqft lot $102/sqft · 6% below area Est $170k · 6% 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 +21.8/30.0
• ARV discount +10.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 story home with lots of space, 3 bedrooms, 3 bath areas. Possible use as a multi-family unit if you'd want to use it that way. 2 car detached garage in back. Foreclosure, sold "AS IS".

Key facts

• Screened in porch
• View of iowa capitol
• Updated kitchen

Tags

• SCREENED IN PORCH
• UPDATED BATHROOM
• UPDATED KITCHEN
• SEPARATE EXTERIOR ACCESS
• FULLY FENCED BACKYARD
• VIEW OF IOWA CAPITOL

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 150 (0.172 acres); Zoning: NX1
• Financial info: Investor or income/expense details not provided
• HOA & community: No HOA information provided

Exterior

• Parking: Parking details not provided
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Facing information not provided; Entry level information not provided; Property type and stories not provided
• Construction: Metal siding; Asphalt shingle roof; Brick/mortar foundation; Built year not provided
• Exterior features: Fully fenced yard; Concrete road access; Rectangular lot

Interior

• Kitchen: Cooktop; Microwave; Stove
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dining area; Fireplace; Window treatments
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.2% 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: 105 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1k of loan paydown is wiped out by about $5k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $169,602
• List price: $160,000
• Delta: -5.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
817 Buchanan St	0.00mi	4/2.0 (+1)	1,570 (0%)	1mo	$168,000	$107	90
913 Fremont St	0.14mi	4/1.5 (+1)	1,536 (-2%)	10mo	$152,000	$99	71
817 Walker St	0.06mi	3/2.0	1,750 (+12%)	14mo	$113,000	$65	62
1018 E 9th St	0.09mi	3/2.0	1,409 (-10%)	17mo	$260,000	$185	61
833 Walker St	0.07mi	3/1.0	1,348 (-14%)	7mo	$175,000	$130	60
840 Walker St	0.06mi	3/2.0	1,358 (-14%)	17mo	$118,000	$87	57
1322 York St	0.51mi	3/1.0	1,560 (-1%)	16mo	$102,000	$65	54
1225 E 13th St	0.38mi	3/1.0	1,408 (-10%)	6mo	$165,000	$117	52
1368 E 13th St	0.58mi	4/2.0 (+1)	1,595 (+2%)	12mo	$230,000	$144	51
1334 E 13th St	0.50mi	3/2.0	1,409 (-10%)	10mo	$232,000	$165	48
1022 E 8th St	0.07mi	2/1.0 (-1)	1,359 (-13%)	18mo	$116,400	$86	46
1375 E 14th St	0.67mi	3/2.0	1,499 (-4%)	17mo	$163,500	$109	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-10,051
• Equity at exit: $23,857

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $11,753
• Equity at exit: $13,834

Cash invested: $44,800 (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 50316

• Home prices YoY: -29.5%
• Active inventory: 105
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$839
• Tax from tax record: −$195 /mo · $2,336/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $249

Break-even live

Break-even rent $1,393

Max offer price $160,000

Occupancy floor 80%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	14d	9	0.40mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,500	$2.04	14d	4	0.52mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	44d	1	0.53mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	23d	1	0.74mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	14d	1	0.81mi
201 SE 6th St Des Moines, IA	2.0	1.0–2.0	835	$1,660	$1.99	14d	11	0.84mi
1513 Dean Ave Des Moines, IA	4.0	1.0	1472	$1,795	$1.22	44d	1	0.85mi
101 2nd Ave Des Moines, IA	1.0–2.0	1.0–2.0	948	$1,224	$1.29	14d	21	1.00mi
100 2nd Ave Des Moines, IA	1.0–2.0	1.0–2.0	836	$1,150	$1.37	21d	23	1.05mi
308 Court Ave Des Moines, IA	1.0–2.0	1.0–2.0	844	$1,350	$1.60	14d	11	1.06mi
405 6th Ave Des Moines, IA	2.0	1.0–2.0	737	$1,200	$1.63	14d	14	1.10mi
119 4th St #110 Des Moines, IA	2.0	2.0	1158	$1,900	$1.64	44d	1	1.11mi
604 Locust St Des Moines, IA	1.0–2.0	1.0–2.0	902	$1,743	$1.93	14d	5	1.14mi
218 6th Ave Unit 401 Des Moines, IA	2.0	1.0	1085	$1,295	$1.19	44d	1	1.17mi
9066 Burkwood Dr West Des Moines, IA	3.0	2.5–3.5	1783	$1,960	$1.10	23d	2	1.17mi
1201 Center St Des Moines, IA	2.0	2.5	2141	$2,450	$1.14	21d	5	1.32mi
1345 Keosauqua Way Des Moines, IA	2.0	2.5	1550	$2,045	$1.32	44d	1	1.32mi
320 SW 7th St Des Moines, IA	1.0–2.0	1.0–2.0	920	$1,459	$1.59	14d	10	1.40mi

Listing history 5 events

1. 2026-05-06
   status Pending 1390-char remark
2. 2026-04-28
   listed $160,000 Active 1390-char remark
3. 2010-01-28
   soldstatus $17,500 196-char remark

   Show marketing remark (196 chars)

   2 story home with lots of space, 3 bedrooms, 3 bath areas. Possible use as a multi-family unit if you'd want to use it that way. 2 car detached garage in back. Foreclosure, sold "AS IS".

4. 2009-10-27
   listed $22,000 196-char remark

   Show marketing remark (196 chars)

   2 story home with lots of space, 3 bedrooms, 3 bath areas. Possible use as a multi-family unit if you'd want to use it that way. 2 car detached garage in back. Foreclosure, sold "AS IS".

5. 2004-08-17
   soldstatus $73,500

ⓘ 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: $2,336 · $195/mo
• Projected year-2 tax: $2,424 · $202/mo
• Expected delta: +$88/yr (+$7/mo · 3.8%)

ⓘ 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: $20,496
• − Mortgage interest: −$8,962
• − Property taxes: −$2,336
• − Insurance: −$800
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − Depreciation: −$4,655
• Taxable income: $463
• Est. tax owed @ 24.0%: −$111
• After-tax cash flow: $2,876/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
• City population: 203,612
• Population (ZIP): 16,188

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Black 12% Two or more races 12% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Portuguese 2% Slovak 1% Iranian 1%
• Foreign-born: 16% · Canada, Vietnam, Philippines
• Languages at home: 69% English-only · Spanish 20% Other Asian/Pacific 3% Vietnamese 2%

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: ▼ -121.34%
• Current HPI: 290.3838
• Rent YoY: —
• Metro: —
• 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

+128.6% since first listed

7 events — show timeline

• 2026-06-03 Sold (Public Records) $168,000 Public Records
• 2026-06-01 Sold (MLS) $168,000 DMMLS
• 2026-05-06 Pending — DMMLS
• 2026-04-28 Listed $160,000 DMMLS
• 2010-01-28 Sold (MLS) $17,500 DMMLS
• 2009-10-27 Listed $22,000 DMMLS
• 2004-08-17 Sold (Public Records) $73,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,336 · +2.0% YoY. Source: county tax records.