3946 50th St · Des Moines, IA 50310

$77,000

2 bd · 1.0 ba · 786 sqft · SingleFamily public records · 12 Days on market

Built 1947 8,400 sqft lot $98/sqft · 56% below area

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Why this score? — see what drove the B- 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 +26.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 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

Lots of extra touches. 1st floor bedroom with cedar closet and extra cedar closet. Vaulted ceiling in living room, new main bathroom up, fresh paint, newer flooring in most of the house. Could have a 2nd bedroom upstairs. Pull down to partially finished loft with possibilities. Basement has family room with bar area, egress window. Partition to bedroom, full bath with jet tub and shower. Large laundry area. Outside fenced, drainage tiles around yard. Deck former garage can be storage or workshop. Newer roof and paint on exterior. Sold as is. Basement finish square feet is seller estimate.

Key facts

• Storage shed
• Large rear patio
• Fully fenced yard

Tags

• CORNER LOT
• FULLY FENCED YARD
• STORAGE SHED
• LARGE REAR PATIO

Property features AI

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; Corner lot; Concrete road access; Roof: Asphalt shingle
• Construction: Unfinished basement
• Exterior features: Fully fenced yard; Open patio

Interior

• Kitchen: Eat-in kitchen (appliances not listed)
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Eat-in kitchen; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• Cap rate 9.3% 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 (+3.7%/yr); 256 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $532 of loan paydown is wiped out by about $2k 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 + 3.7% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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: property tax is 4.6% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,000

Questions for the listing agent

1. Built in 1947 — 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: 1.52% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 5.5

CMA / ARV

• ARV (median comp): $176,236
• List price: $77,000
• Delta: -56.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3906 53rd St	0.21mi	2/1.0	793 (+1%)	2mo	$175,000	$221	87
3921 52nd St	0.12mi	2/1.0	714 (-9%)	0mo	$63,000	$88	79
3901 54th St	0.25mi	3/1.0 (+1)	864 (+10%)	3mo	$169,900	$197	64
3929 53rd St	0.16mi	3/2.0 (+1)	870 (+11%)	2mo	$237,000	$272	64
4133 52nd St	0.22mi	3/2.0 (+1)	876 (+12%)	1mo	$223,000	$255	61
4147 52nd St	0.26mi	3/2.0 (+1)	875 (+11%)	4mo	$207,000	$237	57
4141 57th St	0.47mi	2/1.0	672 (-14%)	1mo	$125,300	$186	53
3946 57th St	0.44mi	2/2.0	672 (-14%)	2mo	$189,900	$283	50
3200 54th St	0.68mi	2/1.0	858 (+9%)	6mo	$157,000	$183	48
3417 59th St	0.71mi	2/1.0	720 (-8%)	6mo	$178,500	$248	48
3019 49th St	0.70mi	2/1.0	854 (+9%)	6mo	$180,000	$211	47
4339 Ovid Ave	0.73mi	2/1.0	871 (+11%)	2mo	$169,000	$194	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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $810
• Equity at exit: $11,481

10-year hold

• IRR: 11.7%
• Equity multiple: 1.96×
• Total profit: $20,738
• Equity at exit: $6,658

Cash invested: $21,560 (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 50310

• Rents YoY: 3.7%
• Active inventory: 256
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,172 high
• Mortgage (P&I): −$404
• Tax from tax record: −$298 /mo · $3,570/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $193

Break-even live

Break-even rent $928

Max offer price $77,000

Occupancy floor 79%

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4926 Madison Ave Des Moines, IA	2.0	1.0	1045	$1,300	$1.24	44d	1	0.06mi
4924 Madison Ave Des Moines, IA	2.0	1.0	1045	$1,300	$1.24	44d	1	0.07mi
4823 Aurora Ave Des Moines, IA	2.0	1.5	954	$1,095	$1.15	44d	1	0.34mi
4807 NW Aurora Ave Des Moines, IA	2.0	1.0	936	$1,200	$1.28	44d	1	0.36mi
3819 56th St Des Moines, IA	2.0	1.5	1008	$1,300	$1.29	23d	1	0.40mi
3710 56th St Des Moines, IA	1.0	1.0	528	$825	$1.56	21d	2	0.47mi
3710 57th St Des Moines, IA	1.0–2.0	1.0	787	$899	$1.14	23d	3	0.54mi
5528 Meredith Dr Des Moines, IA	1.0–2.0	1.0–2.0	870	$1,014	$1.17	14d	13	0.72mi
4532-4534 & Des Moines, IA	2.0	2.0	800	$1,098	$1.37	14d	4	0.94mi
5612 New York Ave Des Moines, IA	2.0	2.0	636	$1,595	$2.51	14d	1	0.96mi
2929 Beaver Ave Des Moines, IA	1.0	1.0	575	$950	$1.65	44d	1	1.09mi
3610 Twana Dr Des Moines, IA	2.0	1.0	650	$1,025	$1.58	14d	8	1.14mi
2403 47th St Des Moines, IA	2.0	1.0	776	$1,033	$1.33	44d	1	1.23mi
3314 Valdez Ct Des Moines, IA	2.0	1.0	950	$1,260	$1.33	23d	1	1.26mi
2610 Beaver Ave Unit 1 Des Moines, IA	1.0	1.0	800	$1,000	$1.25	44d	1	1.26mi
5924 Sutton Pl #10 Urbandale, IA	2.0	2.0	902	$1,150	$1.27	44d	1	1.27mi
5616 Hickman Rd Unit 3 Des Moines, IA	2.0	1.0	850	$990	$1.16	44d	1	1.32mi
6203 Holcomb Ave Des Moines, IA	3.0	1.0	1106	$1,650	$1.49	14d	1	1.35mi
4326 Hickman Rd Unit 307 Des Moines, IA	1.0	1.0	697	$1,420	$2.04	44d	1	1.38mi
4326 Hickman Rd Unit 206 Des Moines, IA	2.0	2.0	984	$1,600	$1.63	44d	1	1.38mi
4326 Hickman Rd Unit 403 Des Moines, IA	2.0	2.0	984	$1,640	$1.67	44d	1	1.38mi
4326 Hickman Rd Unit 301 Des Moines, IA	1.0	1.0	936	$1,520	$1.62	44d	1	1.38mi
4326 Hickman Rd Unit 303 Des Moines, IA	2.0	2.0	984	$1,620	$1.65	44d	1	1.39mi
4326 Hickman Rd Unit 405 Des Moines, IA	1.0	1.0	728	$1,440	$1.98	44d	1	1.39mi
5906 Hickman Rd Des Moines, IA	2.0	1.0	850	$825	$0.97	44d	2	1.40mi
4925 Franklin Ave Des Moines, IA	1.0–2.0	1.0	606	$1,015	$1.67	14d	4	1.43mi
3120 Douglas Ave Des Moines, IA	2.0	1.0	850	$970	$1.14	14d	3	1.44mi

Listing history 6 events

1. 2026-05-08
   listed $77,000 Active 602-char remark
2. 2022-10-04
   soldstatus $187,000
3. 2022-10-03
   soldstatus $187,000 Closed 595-char remark

   Show marketing remark (595 chars)

   Lots of extra touches. 1st floor bedroom with cedar closet and extra cedar closet. Vaulted ceiling in living room, new main bathroom up, fresh paint, newer flooring in most of the house. Could have a 2nd bedroom upstairs. Pull down to partially finished loft with possibilities. Basement has family room with bar area, egress window. Partition to bedroom, full bath with jet tub and shower. Large laundry area. Outside fenced, drainage tiles around yard. Deck former garage can be storage or workshop. Newer roof and paint on exterior. Sold as is. Basement finish square feet is seller estimate.

4. 2022-08-17
   status Pending 595-char remark

   Show marketing remark (595 chars)

   Lots of extra touches. 1st floor bedroom with cedar closet and extra cedar closet. Vaulted ceiling in living room, new main bathroom up, fresh paint, newer flooring in most of the house. Could have a 2nd bedroom upstairs. Pull down to partially finished loft with possibilities. Basement has family room with bar area, egress window. Partition to bedroom, full bath with jet tub and shower. Large laundry area. Outside fenced, drainage tiles around yard. Deck former garage can be storage or workshop. Newer roof and paint on exterior. Sold as is. Basement finish square feet is seller estimate.

5. 2022-08-04
   price $189,000 595-char remark

   Show marketing remark (595 chars)

   Lots of extra touches. 1st floor bedroom with cedar closet and extra cedar closet. Vaulted ceiling in living room, new main bathroom up, fresh paint, newer flooring in most of the house. Could have a 2nd bedroom upstairs. Pull down to partially finished loft with possibilities. Basement has family room with bar area, egress window. Partition to bedroom, full bath with jet tub and shower. Large laundry area. Outside fenced, drainage tiles around yard. Deck former garage can be storage or workshop. Newer roof and paint on exterior. Sold as is. Basement finish square feet is seller estimate.

6. 2022-07-25
   listed $195,000 Active 595-char remark

   Show marketing remark (595 chars)

   Lots of extra touches. 1st floor bedroom with cedar closet and extra cedar closet. Vaulted ceiling in living room, new main bathroom up, fresh paint, newer flooring in most of the house. Could have a 2nd bedroom upstairs. Pull down to partially finished loft with possibilities. Basement has family room with bar area, egress window. Partition to bedroom, full bath with jet tub and shower. Large laundry area. Outside fenced, drainage tiles around yard. Deck former garage can be storage or workshop. Newer roof and paint on exterior. Sold as is. Basement finish square feet is seller estimate.

ⓘ 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: $3,570 · $298/mo
• Projected year-2 tax: $3,570 · $298/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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,066
• − Mortgage interest: −$4,313
• − Property taxes: −$3,570
• − Insurance: −$385
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$2,240
• Taxable income: $1,307
• Est. tax owed @ 24.0%: −$314
• After-tax cash flow: $1,998/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): 31,177
• Household income: $76,381
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 928.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 14% Asian 9% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Ukrainian 3% Iranian 3% Italian 2%
• Foreign-born: 19% · Canada, Philippines, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 6% Spanish 6% Russian/Polish/Slavic 3%

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: ▼ -197.92%
• Current HPI: 248.07
• Rent YoY: ▲ 3.74%
• 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

-60.5% since first listed

7 events — show timeline

• 2026-05-21 Pending — DMMLS
• 2026-05-08 Listed $77,000 DMMLS
• 2022-10-04 Sold (Public Records) $187,000 Public Records
• 2022-10-03 Sold (MLS) $187,000 DMMLS
• 2022-08-17 Pending — DMMLS
• 2022-08-04 Price Changed $189,000 DMMLS
• 2022-07-25 Listed $195,000 DMMLS

Property tax history

+4.0%/yr

Latest (2025): $3,570 · +2.1% YoY. Source: county tax records.