1407 11th St · Des Moines, IA 50314

$119,000

3 bd · 1.0 ba · 893 sqft · SingleFamily public records · 56 Days on market

Built 1897 6,200 sqft lot $133/sqft · 25% below area Est $159k · 25% under

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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 +16.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.1/10.0
• Rent growth +4.5/5.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity for investors or first-time buyers! This 3 bed, 1 bath home offers a functional layout with spacious living and dining areas and a large unfinished basement ideal for storage. Enjoy a fully fenced yard, covered front porch, and a 2-car detached garage. With some cosmetic updates, this property presents a great chance to build equity or add to your investment portfolio. Convenient location with easy access to downtown, shopping, and major routes.

Key facts

• Covered front porch
• Functional layout
• Convenient location

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• LARGE UNFINISHED BASEMENT
• FULLY FENCED YARD
• COVERED FRONT PORCH
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $66 ($796/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 $111k (6.5% below list).
• Recommended offer: $111k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 (+8.2%/yr); 64 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent runs 33% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($823 loan paydown + $12k appreciation (10.0% local appreciation)).
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,223 (6.5% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.93% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (median comp): $158,616
• List price: $119,000
• Delta: -24.98%
• 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
1311 11th St	0.13mi	3/2.0	912 (+2%)	6mo	$193,325	$212	82
1414 Goddard Ct	0.33mi	3/1.0	900 (+1%)	6mo	$99,000	$110	79
1251 10th St	0.15mi	2/1.0 (-1)	938 (+5%)	2mo	$61,000	$65	78
1341 Clark St	0.27mi	2/1.0 (-1)	884 (-1%)	4mo	$133,000	$150	77
1457 17th St	0.45mi	3/1.0	910 (+2%)	0mo	$161,195	$177	76
1334 Washington Ave	0.41mi	3/1.0	900 (+1%)	7mo	$180,600	$201	74
2010 7th St	0.60mi	3/1.0	918 (+3%)	2mo	$154,000	$168	66
1227 13th St	0.24mi	2/1.0 (-1)	986 (+10%)	3mo	$137,450	$139	64
1054 14th St	0.55mi	2/1.0 (-1)	984 (+10%)	1mo	$56,000	$57	51
915 Laurel St	0.47mi	2/1.5 (-1)	960 (+8%)	9mo	$140,000	$146	51
1821 Washington Ave	0.66mi	3/2.0	977 (+9%)	1mo	$165,500	$169	48
1513 College Ave	0.41mi	2/1.0 (-1)	768 (-14%)	6mo	$117,000	$152	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 3.25×
• Total profit: $74,926
• Equity at exit: $107,205

10-year hold

• IRR: 25.8%
• Equity multiple: 7.96×
• Total profit: $231,903
• Equity at exit: $231,191

Cash invested: $33,320 (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 50314

• Home prices YoY: 9.8%
• Rents YoY: 8.2%
• Active inventory: 64
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,112 high
• Mortgage (P&I): −$624
• Tax from tax record: −$139 /mo · $1,664/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $66

Break-even live

Break-even rent $1,028

Max offer price $119,000

Occupancy floor 89%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1438 9th St Des Moines, IA	2.0	1.0	700	$745	$1.06	21d	1	0.16mi
913 Day St Des Moines, IA	2.0	1.0	800	$900	$1.12	23d	1	0.52mi
1714 College Ave Des Moines, IA	3.0	1.0	1015	$1,050	$1.03	44d	1	0.52mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	23d	1	0.55mi
1914 10th St Des Moines, IA	2.0	1.0	740	$1,050	$1.42	44d	1	0.55mi
1171 21st St Unit 1 Des Moines, IA	2.0	1.0	1028	$1,150	$1.12	44d	1	0.71mi
1717 Olive Ave Unit B6 Des Moines, IA	2.0	2.0	1092	$1,700	$1.56	44d	1	0.78mi
1312 22nd St Unit 2 Des Moines, IA	2.0	1.0	841	$825	$0.98	23d	1	0.79mi
1312 22nd St Unit 2 Des Moines, IA	2.0	1.0	841	$850	$1.01	44d	1	0.79mi
1312 22nd St Des Moines, IA	2.0	1.0	841	$825	$0.98	44d	1	0.79mi
1718 22nd St Des Moines, IA	2.0	1.0	840	$995	$1.18	14d	1	0.89mi
1217 24th St Des Moines, IA	2.0	1.0–2.0	618	$1,400	$2.26	14d	4	0.93mi
615 Park St Des Moines, IA	2.0	1.0	611	$1,180	$1.93	44d	13	0.96mi
615 Park St Des Moines, IA	2.0	1.0	611	$1,215	$1.99	44d	10	0.96mi
1123 24th St Unit 1 Des Moines, IA	3.0	1.0	850	$1,185	$1.39	44d	1	0.97mi
1100 24th St Des Moines, IA	2.0	1.0	748	$1,050	$1.40	14d	1	1.01mi
1100 24th St Unit DT 22 Des Moines, IA	2.0	1.0	737	$1,095	$1.49	44d	1	1.01mi
1101 25th St Unit DP 11 Des Moines, IA	2.0	2.0	850	$1,315	$1.55	44d	1	1.04mi
2530 University Ave Des Moines, IA	2.0	1.0	647	$1,750	$2.70	14d	36	1.06mi
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	14d	9	1.10mi
1020 25th St Unit 3 Des Moines, IA	2.0	1.0	845	$1,150	$1.36	19d	1	1.14mi
405 6th Ave Des Moines, IA	2.0	1.0–2.0	737	$1,200	$1.63	14d	14	1.22mi
700 E 5th St Des Moines, IA	4.0	1.0–1.5	686	$1,092	$1.59	14d	25	1.24mi
2501 24th St Unit 121 Des Moines, IA	3.0	2.0	950	$995	$1.05	23d	1	1.24mi
2413 24th St Unit 3 Des Moines, IA	2.0	1.0	600	$725	$1.21	44d	1	1.24mi
2501 24th St Unit 101 Des Moines, IA	2.0	1.0	750	$725	$0.97	23d	1	1.25mi
2501 24th St Unit 111 Des Moines, IA	2.0	1.0	750	$760	$1.01	23d	1	1.25mi
2501 24th St Unit 113 Des Moines, IA	2.0	1.0	750	$945	$1.26	44d	1	1.25mi
2501 24th St Des Moines, IA	2.0	1.0	910	$795	$0.87	23d	1	1.25mi
2501 24th St Apt 107 Des Moines, IA	3.0	2.0	950	$1,045	$1.10	14d	1	1.25mi
2110 26th St Apt 11 Des Moines, IA	2.0	1.0	628	$925	$1.47	19d	1	1.25mi
604 Locust St Des Moines, IA	1.0–2.0	1.0–2.0	902	$1,743	$1.93	14d	5	1.26mi
2813 Cottage Grove Ave Unit 2 Des Moines, IA	3.0	1.0	900	$1,200	$1.33	44d	1	1.28mi
218 6th Ave Unit 401 Des Moines, IA	2.0	1.0	1085	$1,295	$1.19	44d	1	1.32mi
300 E Grand Ave Des Moines, IA	2.0	1.0–2.0	734	$1,500	$2.04	14d	4	1.33mi
418 E Grand Ave Des Moines, IA	2.0	1.0	499	$1,495	$2.99	14d	9	1.36mi
333 E Grand Ave Des Moines, IA	2.0	1.0–2.0	668	$1,450	$2.17	23d	4	1.37mi
1440 Locust St Des Moines, IA	2.0	1.0	957	$1,385	$1.45	14d	1	1.39mi
312 Court Ave Des Moines, IA	1.0–2.0	1.0–2.0	771	$1,347	$1.75	14d	6	1.42mi
1301 E 12th St Unit 2 Des Moines, IA	2.0	1.0	995	$795	$0.80	23d	1	1.43mi

Listing history 11 events

1. 2026-06-10
   status $119,000 Pending 56 DOM
2. 2026-06-09
   days on market $119,000 Active 56 DOM
3. 2026-06-08
   days on market $119,000 Active 55 DOM
4. 2026-06-07
   days on market $119,000 Active 54 DOM
5. 2026-06-05
   pricedays on market $119,000 Active 51 DOM
6. 2026-06-03
   days on market $122,500 Active 50 DOM
7. 2026-06-02
   days on market $122,500 Active 49 DOM
8. 2026-06-01
   days on market $122,500 Active 48 DOM
9. 2026-05-31
   days on market $122,500 Active 47 DOM
10. 2026-05-31
    days on market $122,500 Active 46 DOM
11. 2026-04-09
    listed $130,000 Active 467-char remark

    Show marketing remark (467 chars)

    Great opportunity for investors or first-time buyers! This 3 bed, 1 bath home offers a functional layout with spacious living and dining areas and a large unfinished basement ideal for storage. Enjoy a fully fenced yard, covered front porch, and a 2-car detached garage. With some cosmetic updates, this property presents a great chance to build equity or add to your investment portfolio. Convenient location with easy access to downtown, shopping, and major routes.

ⓘ 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: $1,664 · $139/mo
• Projected year-2 tax: $1,766 · $147/mo
• Expected delta: +$102/yr (+$9/mo · 6.1%)

ⓘ 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: $13,347
• − Mortgage interest: −$6,666
• − Property taxes: −$1,664
• − Insurance: −$595
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$3,462
• Taxable loss: −$1,175
• Est. tax savings @ 24.0%: +$282
• After-tax cash flow: $1,078/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): 10,438
• Household income: $39,950
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 903.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 37% White 29% Hispanic / Latino 20% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Ukrainian 6% Iranian 2% Swiss 1%
• Foreign-born: 26% · Canada, Vietnam, Philippines
• Languages at home: 60% English-only · Spanish 16% Vietnamese 6% Other Asian/Pacific 4%

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: ▲ 30.18%
• Current HPI: 338.8301
• Rent YoY: ▲ 8.17%
• 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

1 event — show timeline

• 2026-04-09 Listed $130,000 DMMLS

Property tax history

+5.0%/yr

Latest (2025): $1,664 · +2.3% YoY. Source: county tax records.