505 E Des Moines St · Brooklyn, IA 52211

$145,000

2 bd · 2.0 ba · 986 sqft · SingleFamily public records · 85 Days on market

Built 1900 3,049 sqft lot $147/sqft · 74% above area Est $167k · 13% under

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Why this score? — see what drove the D+ 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).

• ARV discount +13.4/15.0
• Appreciation +9.3/10.0
• Cash flow +7.1/30.0
• Schools +6.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• 1% rule +1.2/10.0

Listing remarks MLS

Welcome to 505 E. Des Moines St. This lovely property was totally renovated from the foundation up in 2021: New floor joists upper and main level, new roof and rafters, spray foam insulation, new drywall throughout, new flooring, added mud room and full bath, new back deck, new HVAC, new water heater, new plumbing, new electrical, new appliances, and custom woodwork.

Key facts

• Totally renovated
• New flooring
• Full bath

Tags

• TOTALLY RENOVATED
• NEW ROOF
• SPRAY FOAM INSULATION
• NEW FLOORING
• ADDED MUD ROOM
• FULL BATH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-203 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (24.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (38.1% below list).
• Recommended offer: $90k (38.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#509 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Brooklyn-Guernsey-Malcom Community School District (rural): math 72% / reading 74% proficiency, ranked #101 of 289 in IA (top 35%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 57 active listings in the ZIP; 27 units permitted in Poweshiek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.6% local appreciation)).
• Poweshiek County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $14k; list at $145k implies a 936% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,713 (38.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.62% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.01%
• DSCR: 0.73
• GRM: 13.5

CMA / ARV

• ARV (median comp): $166,751
• List price: $145,000
• Delta: -13.04%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Middle St	0.07mi	2/1.0	900 (-9%)	9mo	$62,000	$69	71
215 Linden Ct	0.62mi	2/1.5	988 (+0%)	9mo	$140,000	$142	62
215 W Des Moines St	0.35mi	2/1.5	1,078 (+9%)	11mo	$99,000	$92	57
807 Park Ave	0.31mi	3/1.0 (+1)	880 (-11%)	6mo	$137,000	$156	54

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

Projected returns pro-forma

8.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 2.28×
• Total profit: $51,990
• Equity at exit: $115,740

10-year hold

• IRR: 16.0%
• Equity multiple: 4.96×
• Total profit: $160,771
• Equity at exit: $235,280

Cash invested: $40,600 (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 52211

• Home prices YoY: 2.6%
• Active inventory: 57
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $897 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $-203

Break-even live

Break-even rent $1,154

Max offer price $109,096

Occupancy floor —

Sensitivity live

Price	-10% $-121	-5% $-162	+0% $-203	+5% $-244	+10% $-285
Rent	-10% $-274	-5% $-239	+0% $-203	+5% $-168	+10% $-132
Rate	-1.0pp $-130	-0.5pp $-166	base $-203	+0.5pp $-241	+1.0pp $-279

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $145,000 Active 85 DOM
2. 2026-06-18
   days on market $145,000 Active 83 DOM
3. 2026-06-17
   days on market $145,000 Active 82 DOM
4. 2026-06-16
   days on market $145,000 Active 81 DOM
5. 2026-06-15
   days on market $145,000 Active 80 DOM
6. 2026-06-13
   days on market $145,000 Active 78 DOM
7. 2026-06-12
   days on market $145,000 Active 77 DOM
8. 2026-06-09
   days on market $145,000 Active 74 DOM
9. 2026-06-08
   days on market $145,000 Active 73 DOM
10. 2026-06-07
    days on market $145,000 Active 72 DOM
11. 2026-06-07
    days on market $145,000 Active 71 DOM
12. 2026-06-04
    days on market $145,000 Active 68 DOM
13. 2026-06-02
    days on market $145,000 Active 67 DOM
14. 2026-06-01
    days on market $145,000 Active 66 DOM
15. 2026-05-31
    days on market $145,000 Active 65 DOM
16. 2026-05-31
    days on market $145,000 Active 64 DOM
17. 2026-03-27
    listed $145,000 Active 369-char remark

    Show marketing remark (369 chars)

    Welcome to 505 E. Des Moines St. This lovely property was totally renovated from the foundation up in 2021: New floor joists upper and main level, new roof and rafters, spray foam insulation, new drywall throughout, new flooring, added mud room and full bath, new back deck, new HVAC, new water heater, new plumbing, new electrical, new appliances, and custom woodwork.

18. 2025-12-08
    listed $145,000 Active
19. 2021-08-03
    soldstatus $14,000
20. 2021-07-29
    soldstatus $14,000
21. 2021-02-24
    listed $17,000
22. 2011-04-15
    soldstatus $17,500

ⓘ 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: $1,094 · $91/mo
• Projected year-2 tax: $1,685 · $140/mo
• Expected delta: +$591/yr (+$49/mo · 54.0%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,766
• − Mortgage interest: −$8,122
• − Property taxes: −$1,094
• − Insurance: −$725
• − Repairs & maintenance: −$861
• − Management: −$861
• − Depreciation: −$4,218
• Taxable loss: −$5,116
• Est. tax savings @ 24.0%: +$1,228
• After-tax cash flow: $-1,211/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: Brooklyn-Guernsey-Malcom Community School District
• NCES district ID: 1905490
• Math proficiency: 72% ▼ -4.00%
• Reading proficiency: 74% ▲ 2.00%
• Median HH income: $49,307
• Composite: 61.79/100
• National rank: #734
• State rank: #101 of 289 in IA

Livability — Brooklyn

• Score: 66/100
• State rank: #509
• US rank: #11267

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brooklyn, IA
• Population (ZIP): 2,671

Population outlook (Poweshiek County) Hauer SSP2

• Today (2025): 18,601 people
• By 2030: 18,342 · -1.4%
• By 2040: 17,944 · -3.5%
• By 2050: 18,029 · -3.1%
• By 2075: 19,945 · +7.2%
• By 2100: 22,637 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: English 4% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Poweshiek

• 2024 margin: R (+17.0) · D 40.8% · R 57.8% · Other 1.5%
• 2008→2024 swing: -28.7pp toward R · 2008: 11.8pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+13.3 2016: R+6.8 2012: D+9.1 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.56%
• Current HPI: 332.4308
• 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

+728.6% since first listed

6 events — show timeline

• 2026-03-27 Listed $145,000 IAR
• 2025-12-08 Listed $145,000 IAR
• 2021-08-03 Sold (Public Records) $14,000 Public Records
• 2021-07-29 Sold (MLS) $14,000 IAR
• 2021-02-24 Listed $17,000 IAR
• 2011-04-15 Sold (Public Records) $17,500 Public Records

Property tax history

+13.1%/yr

Latest (2025): $1,094 · -20.8% YoY. Source: county tax records.