810 E Washington Ave · Des Moines, IA 50316

$165,000

3 bd · 2.0 ba · 1,583 sqft · SingleFamily public records · 100 Days on market

Built 1912 7,500 sqft lot $104/sqft · 16% below area Est $197k · 16% under ↓ 15% since listing

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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 +14.8/30.0
• ARV discount +14.8/15.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• 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

Great opportunity for first-time home buyers or investors looking to build equity! This charming 1.5-story home offers 3 bedrooms, 2 bathrooms, and a detached 1-car garage. The property features a fully fenced yard, perfect for pets, outdoor gatherings, or added privacy. The home does need some TLC, creating a great opportunity to add your personal touch, make improvements, and build value over time. The location offers both convenience and lifestyle with easy access to downtown Des Moines, shopping, schools, and major roads. Nearby you'll find several local gems including Union Park, home to the historic Heritage Carousel, along with scenic Des Moines River bike and walking trails. The home is also close to the Birdland Park and Birdland Marina area near Captain Roy's, which is part of an exciting $54.4 million riverfront revitalization project bringing new recreation, gathering spaces, and community improvements to the area. Home has shared driveway, Seller is under contract for their next home, & is sold AS-IS. Seller is offering up to $3,000 in seller concessions for qualified first-time home buyers! Great opportunity to help with closing costs, prepaid expenses, or interest rate buy-down. Schedule your showing and come see the potential this property has to offer!

Key facts

• Fully fenced yard
• 7,500 sq ft lot
• Garage

Tags

• FULLY FENCED YARD
• EASY ACCESS TO DOWNTOWN
• CLOSE TO BIRDLAND PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $45 ($535/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 $149k (9.8% below list).
• Recommended offer: $149k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: 106 active listings in the ZIP; 7 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 $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

• It's been on market 100 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,854 (9.8% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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: 0.90% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $197,166
• List price: $165,000
• Delta: -16.31%
• 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
1501 Osceola Ave	0.48mi	3/2.0	1,571 (-1%)	3mo	$204,000	$130	74
2220 E 13th St	0.53mi	3/2.5	1,558 (-2%)	3mo	$320,000	$205	69
2015 York St	0.45mi	3/1.0	1,492 (-6%)	2mo	$130,000	$87	64
1331 Mattern Ave	0.39mi	3/1.5	1,410 (-11%)	0mo	$196,000	$139	61
817 Buchanan St	0.74mi	4/2.0 (+1)	1,570 (-1%)	1mo	$168,000	$107	58
2318 E 11th St	0.55mi	4/1.0 (+1)	1,456 (-8%)	1mo	$204,400	$140	51
2416 York St	0.71mi	4/2.0 (+1)	1,496 (-6%)	3mo	$176,021	$118	50
618 Arthur Ave	0.72mi	4/3.0 (+1)	1,599 (+1%)	7mo	$265,000	$166	50
1225 E 13th St	0.51mi	3/1.0	1,408 (-11%)	6mo	$165,000	$117	49
2315 E 13th St	0.58mi	3/2.0	1,346 (-15%)	1mo	$183,500	$136	47
1106 Arthur Ave	0.71mi	3/1.0	1,414 (-11%)	5mo	$153,000	$108	41
1457 Guthrie Ave	0.67mi	2/1.0 (-1)	1,410 (-11%)	2mo	$192,000	$136	40

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-23,880
• Equity at exit: $24,602

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-17,069
• Equity at exit: $14,266

Cash invested: $46,200 (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 50316

• Home prices YoY: -29.5%
• Active inventory: 106
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$865
• Tax from tax record: −$197 /mo · $2,368/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $45

Break-even live

Break-even rent $1,432

Max offer price $165,000

Occupancy floor 92%

Sensitivity live

Price	-10% $138	-5% $91	+0% $45	+5% $-2	+10% $-49
Rent	-10% $-73	-5% $-14	+0% $45	+5% $103	+10% $162
Rate	-1.0pp $128	-0.5pp $87	base $45	+0.5pp $2	+1.0pp $-42

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	24d	1	0.09mi
1354 E 12th St Des Moines, IA	2.0	1.0	1300	$925	$0.71	45d	1	0.27mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	15d	1	0.32mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	15d	9	1.02mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,500	$2.04	15d	4	1.25mi
1513 Dean Ave Des Moines, IA	4.0	1.0	1472	$1,795	$1.22	45d	1	1.35mi
1314 Harrison Ave Des Moines, IA	3.0	1.0	1150	$1,195	$1.04	24d	1	1.48mi

Listing history 23 events

1. 2026-06-21
   days on market $165,000 Active 100 DOM
2. 2026-06-18
   days on market $165,000 Active 97 DOM
3. 2026-06-17
   days on market $165,000 Active 96 DOM
4. 2026-06-16
   days on market $165,000 Active 95 DOM
5. 2026-06-15
   days on market $165,000 Active 94 DOM
6. 2026-06-14
   days on market $165,000 Active 92 DOM
7. 2026-06-13
   days on market $165,000 Active 91 DOM
8. 2026-06-10
   days on market $165,000 Active 89 DOM
9. 2026-06-09
   days on market $165,000 Active 88 DOM
10. 2026-06-08
    days on market $165,000 Active 87 DOM
11. 2026-06-07
    days on market $165,000 Active 86 DOM
12. 2026-06-05
    days on market $165,000 Active 83 DOM
13. 2026-06-03
    days on market $165,000 Active 82 DOM
14. 2026-06-03
    price $165,000 Active 81 DOM
15. 2026-06-02
    days on market $169,500 Active 81 DOM
16. 2026-06-01
    days on market $169,500 Active 80 DOM
17. 2026-05-31
    days on market $169,500 Active 79 DOM
18. 2026-05-31
    days on market $169,500 Active 78 DOM
19. 2026-05-05
    price $170,000 1294-char remark

    Show marketing remark (1294 chars)

    Great opportunity for first-time home buyers or investors looking to build equity! This charming 1.5-story home offers 3 bedrooms, 2 bathrooms, and a detached 1-car garage. The property features a fully fenced yard, perfect for pets, outdoor gatherings, or added privacy. The home does need some TLC, creating a great opportunity to add your personal touch, make improvements, and build value over time. The location offers both convenience and lifestyle with easy access to downtown Des Moines, shopping, schools, and major roads. Nearby you'll find several local gems including Union Park, home to the historic Heritage Carousel, along with scenic Des Moines River bike and walking trails. The home is also close to the Birdland Park and Birdland Marina area near Captain Roy's, which is part of an exciting $54.4 million riverfront revitalization project bringing new recreation, gathering spaces, and community improvements to the area. Home has shared driveway, Seller is under contract for their next home, & is sold AS-IS. Seller is offering up to $3,000 in seller concessions for qualified first-time home buyers! Great opportunity to help with closing costs, prepaid expenses, or interest rate buy-down. Schedule your showing and come see the potential this property has to offer!

20. 2026-04-20
    price $175,000 1294-char remark

    Show marketing remark (1294 chars)

    Great opportunity for first-time home buyers or investors looking to build equity! This charming 1.5-story home offers 3 bedrooms, 2 bathrooms, and a detached 1-car garage. The property features a fully fenced yard, perfect for pets, outdoor gatherings, or added privacy. The home does need some TLC, creating a great opportunity to add your personal touch, make improvements, and build value over time. The location offers both convenience and lifestyle with easy access to downtown Des Moines, shopping, schools, and major roads. Nearby you'll find several local gems including Union Park, home to the historic Heritage Carousel, along with scenic Des Moines River bike and walking trails. The home is also close to the Birdland Park and Birdland Marina area near Captain Roy's, which is part of an exciting $54.4 million riverfront revitalization project bringing new recreation, gathering spaces, and community improvements to the area. Home has shared driveway, Seller is under contract for their next home, & is sold AS-IS. Seller is offering up to $3,000 in seller concessions for qualified first-time home buyers! Great opportunity to help with closing costs, prepaid expenses, or interest rate buy-down. Schedule your showing and come see the potential this property has to offer!

21. 2026-04-03
    price $190,000 1294-char remark

    Show marketing remark (1294 chars)

    Great opportunity for first-time home buyers or investors looking to build equity! This charming 1.5-story home offers 3 bedrooms, 2 bathrooms, and a detached 1-car garage. The property features a fully fenced yard, perfect for pets, outdoor gatherings, or added privacy. The home does need some TLC, creating a great opportunity to add your personal touch, make improvements, and build value over time. The location offers both convenience and lifestyle with easy access to downtown Des Moines, shopping, schools, and major roads. Nearby you'll find several local gems including Union Park, home to the historic Heritage Carousel, along with scenic Des Moines River bike and walking trails. The home is also close to the Birdland Park and Birdland Marina area near Captain Roy's, which is part of an exciting $54.4 million riverfront revitalization project bringing new recreation, gathering spaces, and community improvements to the area. Home has shared driveway, Seller is under contract for their next home, & is sold AS-IS. Seller is offering up to $3,000 in seller concessions for qualified first-time home buyers! Great opportunity to help with closing costs, prepaid expenses, or interest rate buy-down. Schedule your showing and come see the potential this property has to offer!

22. 2026-03-26
    price $196,900 1294-char remark

    Show marketing remark (1294 chars)

    Great opportunity for first-time home buyers or investors looking to build equity! This charming 1.5-story home offers 3 bedrooms, 2 bathrooms, and a detached 1-car garage. The property features a fully fenced yard, perfect for pets, outdoor gatherings, or added privacy. The home does need some TLC, creating a great opportunity to add your personal touch, make improvements, and build value over time. The location offers both convenience and lifestyle with easy access to downtown Des Moines, shopping, schools, and major roads. Nearby you'll find several local gems including Union Park, home to the historic Heritage Carousel, along with scenic Des Moines River bike and walking trails. The home is also close to the Birdland Park and Birdland Marina area near Captain Roy's, which is part of an exciting $54.4 million riverfront revitalization project bringing new recreation, gathering spaces, and community improvements to the area. Home has shared driveway, Seller is under contract for their next home, & is sold AS-IS. Seller is offering up to $3,000 in seller concessions for qualified first-time home buyers! Great opportunity to help with closing costs, prepaid expenses, or interest rate buy-down. Schedule your showing and come see the potential this property has to offer!

23. 2026-03-13
    listed $199,900 Active 1294-char remark

    Show marketing remark (1294 chars)

    Great opportunity for first-time home buyers or investors looking to build equity! This charming 1.5-story home offers 3 bedrooms, 2 bathrooms, and a detached 1-car garage. The property features a fully fenced yard, perfect for pets, outdoor gatherings, or added privacy. The home does need some TLC, creating a great opportunity to add your personal touch, make improvements, and build value over time. The location offers both convenience and lifestyle with easy access to downtown Des Moines, shopping, schools, and major roads. Nearby you'll find several local gems including Union Park, home to the historic Heritage Carousel, along with scenic Des Moines River bike and walking trails. The home is also close to the Birdland Park and Birdland Marina area near Captain Roy's, which is part of an exciting $54.4 million riverfront revitalization project bringing new recreation, gathering spaces, and community improvements to the area. Home has shared driveway, Seller is under contract for their next home, & is sold AS-IS. Seller is offering up to $3,000 in seller concessions for qualified first-time home buyers! Great opportunity to help with closing costs, prepaid expenses, or interest rate buy-down. Schedule your showing and come see the potential this property has to offer!

ⓘ 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: $2,368 · $197/mo
• Projected year-2 tax: $2,479 · $207/mo
• Expected delta: +$111/yr (+$9/mo · 4.7%)

ⓘ 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 · 14 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: $17,862
• − Mortgage interest: −$9,243
• − Property taxes: −$2,368
• − Insurance: −$825
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$4,800
• Taxable loss: −$2,231
• Est. tax savings @ 24.0%: +$535
• After-tax cash flow: $1,070/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

-15.0% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $170,000 DMMLS
• 2026-04-20 Price Changed $175,000 DMMLS
• 2026-04-03 Price Changed $190,000 DMMLS
• 2026-03-26 Price Changed $196,900 DMMLS
• 2026-03-13 Listed $199,900 DMMLS

Property tax history

+2.3%/yr

Latest (2025): $2,368 · -3.3% YoY. Source: county tax records.