3315 5th Ave · Des Moines, IA 50313

$140,000

3 bd · 1.0 ba · 1,291 sqft · SingleFamily public records · 8 Days on market

Built 1917 5,325 sqft lot Est $200k · 30% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming home with incredible potential! This property offers a great layout with timeless character throughout featuring a welcoming enclosed porch, formal dining room, decent-sized kitchen with pantry, and beautiful original trim & built-ins that add warmth and charm. Upstairs, you’ll find a private bedroom, while the solid basement provides great storage and peace of mind. Outside, enjoy the convenience of a 1-car detached garage. It needs TLC but this home is priced accordingly and packed with value for buyers looking to build equity and make it their own. A character filled opportunity you won’t want to miss! (Roof is old & was considered in pricing)

Key facts

• Pantry
• Solid basement
• Formal dining

Tags

• ENCLOSED PORCH
• FORMAL DINING
• DESCENT KITCHEN
• PANTRY
• PRIVATE MASTER BEDROOM
• SOLID BASEMENT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Stucco exterior; Brick/mortar foundation; Rectangular lot; Concrete road access; Lot dimensions approximately 37 x 142
• Construction: Stucco construction; Brick/mortar foundation
• Exterior features: Covered patio; Patio

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Separate/formal dining room; Hardwood floors; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 7.7% 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 fast (+13.1%/yr); 154 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $968 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $94k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1917 — 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: 1.08% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $200,105
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3837 3rd St	0.38mi	3/1.0	1,292 (+0%)	2mo	$229,900	$178	80
3006 3rd St	0.24mi	2/1.0 (-1)	1,274 (-1%)	2mo	$227,000	$178	80
913 Clinton Ave	0.42mi	3/2.0	1,254 (-3%)	2mo	$222,500	$177	70
3109 4th St	0.17mi	2/1.0 (-1)	1,156 (-10%)	2mo	$165,000	$143	68
821 Douglas Ave	0.38mi	3/1.0	1,396 (+8%)	2mo	$216,500	$155	67
2919 1st St	0.36mi	3/1.0	1,153 (-11%)	0mo	$135,000	$117	65
3836 8th Pl	0.46mi	3/1.5	1,369 (+6%)	4mo	$248,500	$182	63
3841 Columbia St	0.62mi	3/2.0	1,364 (+6%)	1mo	$160,000	$117	57
709 Oak Park Ave	0.20mi	4/2.5 (+1)	1,456 (+13%)	3mo	$164,000	$113	56
1015 Euclid Ave	0.45mi	2/1.5 (-1)	1,168 (-10%)	2mo	$60,000	$51	54
3421 Amherst St	0.63mi	3/2.0	1,197 (-7%)	1mo	$205,000	$171	54
4002 10th St	0.66mi	3/2.0	1,425 (+10%)	2mo	$157,500	$111	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-4,384
• Equity at exit: $20,874

10-year hold

• IRR: 12.0%
• Equity multiple: 2.17×
• Total profit: $46,017
• Equity at exit: $12,105

Cash invested: $39,200 (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 50313

• Rents YoY: 13.1%
• Active inventory: 154
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$242 /mo · $2,900/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $161

Break-even live

Break-even rent $1,309

Max offer price $140,000

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3410 5th Ave Des Moines, IA	4.0	2.0	1474	$1,550	$1.05	43d	1	0.05mi
4124 3rd St Des Moines, IA	3.0	1.0	996	$1,595	$1.60	14d	1	0.69mi
3103 E 7th St Des Moines, IA	2.0	1.0	960	$1,200	$1.25	43d	1	0.73mi

Listing history 7 events

1. 2026-06-18
   days on market $140,000 Active 8 DOM
2. 2026-06-17
   days on market $140,000 Active 7 DOM
3. 2026-06-16
   days on market $140,000 Active 6 DOM
4. 2026-06-15
   days on market $140,000 Active 5 DOM
5. 2026-06-14
   days on market $140,000 Active 3 DOM
6. 2026-06-13
   remarks 667-char remark
7. 2026-06-13
   listed $140,000 Active 2 DOM

ⓘ 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: $2,900 · $242/mo
• Projected year-2 tax: $2,900 · $242/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: $18,152
• − Mortgage interest: −$7,842
• − Property taxes: −$2,900
• − Insurance: −$700
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$4,073
• Taxable loss: −$267
• Est. tax savings @ 24.0%: +$64
• After-tax cash flow: $1,994/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): 17,440
• Household income: $68,361
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 454.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 17% Black 11% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 3% Portuguese 2% Scotch-Irish 2%
• Foreign-born: 16% · Canada, Philippines, Vietnam
• Languages at home: 75% English-only · Spanish 14% Other Asian/Pacific 4% Russian/Polish/Slavic 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: ▼ -162.17%
• Current HPI: 285.5708
• Rent YoY: ▲ 13.11%
• 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

+48.1% since first listed

2 events — show timeline

• 2026-06-10 Listed $140,000 DMMLS
• 2004-06-02 Sold (Public Records) $94,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $2,900 · +2.2% YoY. Source: county tax records.