3921 52nd St · Des Moines, IA 50310

$80,000

1 bd · 1.0 ba · 714 sqft · SingleFamily public records · 11 Days on market

Built 1950 8,400 sqft lot $112/sqft · 55% below area

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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

Great investment opportunity! Nice size ranch located in great neighborhood that's close to schools, interstate, and shopping. It features 1 bed (previously used as 2 bed), 1 bathroom, open floor plan and oversized 2 car garage. Great buy!

Key facts

• 8,400 sq ft lot
• 2 garage spots
• Built 1950

Tags

• FULL REHAB OPPORTUNITY
• MASSIVE DOUBLE CAR GARAGE

Property features AI

Finance

• Financial info: Annual property taxes listed (refer to listing for amount)

Exterior

• Parking: Detached two-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family property
• Construction: Vinyl and wood siding; Asphalt shingle roof; Block and slab foundation; Built with typical residential construction materials
• Exterior features: Chain link and wood fencing; Rectangular lot measuring approximately 60 x 140

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: See remarks for additional interior details

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $80k).
• Cap rate 9.4% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 15% of the median local income ($76k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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.
• Current owner paid $63k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1950 — 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: 1.23% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 6.8

CMA / ARV

• ARV (median comp): $176,006
• List price: $80,000
• Delta: -54.55%
• 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
3921 52nd St	0.00mi	2/1.0 (+1)	714 (0%)	0mo	$63,000	$88	95
3940 51st St	0.07mi	2/1.0 (+1)	660 (-8%)	6mo	$175,000	$265	74
3906 53rd St	0.10mi	2/1.0 (+1)	793 (+11%)	2mo	$175,000	$221	71
3608 53rd St	0.28mi	1/1.0	676 (-5%)	9mo	$190,000	$281	71
3944 53rd St	0.10mi	2/1.0 (+1)	768 (+8%)	9mo	$160,000	$208	70
3907 50th St	0.13mi	2/1.0 (+1)	780 (+9%)	10mo	$165,000	$212	65
4141 57th St	0.43mi	2/1.0 (+1)	672 (-6%)	1mo	$125,300	$186	64
3946 57th St	0.35mi	2/2.0 (+1)	672 (-6%)	2mo	$189,900	$283	63
3417 59th St	0.59mi	2/1.0 (+1)	720 (+1%)	6mo	$178,500	$248	61
4135 56th St	0.38mi	2/1.0 (+1)	799 (+12%)	9mo	$185,000	$232	50
5200 Twana Dr	0.49mi	2/1.5 (+1)	776 (+9%)	9mo	$180,000	$232	48
3608 59th St	0.57mi	2/1.0 (+1)	612 (-14%)	1mo	$175,500	$287	44

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,036
• Equity at exit: $11,928

10-year hold

• IRR: 11.6%
• Equity multiple: 1.94×
• Total profit: $21,108
• Equity at exit: $6,917

Cash invested: $22,400 (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: 6.8×

Monthly cashflow live

• Estimated rent: $980 high
• Mortgage (P&I): −$420
• Tax from tax record: −$114 /mo · $1,362/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $208

Break-even live

Break-even rent $717

Max offer price $80,000

Occupancy floor 74%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3934 54th St Des Moines, IA	1.0	1.0	504	$1,295	$2.57	14d	1	0.15mi
3710 56th St Des Moines, IA	1.0	1.0	528	$825	$1.56	21d	2	0.34mi
5626 Douglas Ave Des Moines, IA	1.0	1.0	360	$750	$2.08	14d	6	0.37mi
3710 57th St Des Moines, IA	1.0–2.0	1.0	787	$750	$0.95	23d	3	0.41mi
5612 New York Ave Des Moines, IA	2.0	2.0	636	$1,595	$2.51	14d	1	0.86mi
2929 Beaver Ave Des Moines, IA	1.0	1.0	575	$950	$1.65	44d	1	1.12mi
3610 Twana Dr Des Moines, IA	2.0	1.0	650	$850	$1.31	14d	8	1.26mi
4326 Hickman Rd Unit 307 Des Moines, IA	1.0	1.0	697	$1,420	$2.04	44d	1	1.36mi
4925 Franklin Ave Des Moines, IA	1.0–2.0	1.0	606	$825	$1.36	14d	4	1.37mi
4326 Hickman Rd Unit 405 Des Moines, IA	1.0	1.0	728	$1,440	$1.98	44d	1	1.37mi
6319 Hickman Rd Unit 6319-24 Des Moines, IA	2.0	1.0	750	$800	$1.07	19d	1	1.39mi
6319 Hickman Rd Unit 14 Des Moines, IA	2.0	1.0	750	$875	$1.17	44d	1	1.39mi
6319 Hickman Rd Des Moines, IA	2.0	1.0	750	$900	$1.20	44d	3	1.39mi
6319 Hickman Rd Unit 6319-20 Des Moines, IA	2.0	1.0	750	$765	$1.02	19d	1	1.39mi
6319 Hickman Rd Unit 6315-2 Des Moines, IA	2.0	1.0	750	$775	$1.03	19d	1	1.39mi
5250 Franklin Ave Des Moines, IA	1.0	1.0	640	$850	$1.33	44d	1	1.45mi

Listing history 4 events

1. 2026-05-15
   status Pending 477-char remark
2. 2026-05-04
   listed $80,000 Active 477-char remark
3. 2014-02-28
   soldstatus $31,500 239-char remark

   Show marketing remark (239 chars)

   Great investment opportunity! Nice size ranch located in great neighborhood that's close to schools, interstate, and shopping. It features 1 bed (previously used as 2 bed), 1 bathroom, open floor plan and oversized 2 car garage. Great buy!

4. 2013-10-04
   listed $34,900 239-char remark

   Show marketing remark (239 chars)

   Great investment opportunity! Nice size ranch located in great neighborhood that's close to schools, interstate, and shopping. It features 1 bed (previously used as 2 bed), 1 bathroom, open floor plan and oversized 2 car garage. Great buy!

ⓘ 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: $1,362 · $114/mo
• Projected year-2 tax: $1,362 · $114/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: $11,761
• − Mortgage interest: −$4,481
• − Property taxes: −$1,362
• − Insurance: −$400
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$2,327
• Taxable income: $1,309
• Est. tax owed @ 24.0%: −$314
• After-tax cash flow: $2,181/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

+80.5% since first listed

5 events — show timeline

• 2026-06-10 Sold (MLS) $63,000 DMMLS
• 2026-05-15 Pending — DMMLS
• 2026-05-04 Listed $80,000 DMMLS
• 2014-02-28 Sold (MLS) $31,500 DMMLS
• 2013-10-04 Listed $34,900 DMMLS

Property tax history

-3.2%/yr

Latest (2025): $1,362 · +2.1% YoY. Source: county tax records.