1427 4th St · Des Moines, IA 50314

$130,000

4 bd · 2.0 ba · 2,043 sqft · SingleFamily public records · 20 Days on market

Built 1906 10,200 sqft lot $64/sqft · 36% below area Est $203k · 36% under ↓ 10% since listing

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Why this score? — see what drove the A- 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 +27.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +7.6/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0

Key facts

• 0.23 acre lot
• Built 1906
• Listed 20 days

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: 2-story; Facing information not provided
• Construction: Metal siding; Brick/mortar foundation; Asphalt shingle roof; Built year not provided
• Exterior features: Rectangular lot; Concrete road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: 1 main-level bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Separate/formal dining room; Eat-in kitchen; Daylight basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 5 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).
• At $1,637/mo this rent would consume 49% of the median local household income ($40k/yr) (locally 903% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1906 — 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: 1.26% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.43%
• DSCR: 1.55
• GRM: 6.6

CMA / ARV

• ARV (median comp): $203,308
• List price: $130,000
• Delta: -36.06%
• 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
1427 4th St	0.00mi	5/2.0 (+1)	2,043 (0%)	0mo	$117,500	$58	95
1315 7th St	0.24mi	4/—	2,016 (-1%)	5mo	$70,000	$35	82
1729 10th St	0.55mi	4/2.0	2,105 (+3%)	4mo	$245,000	$116	66
1239 7th St	0.26mi	4/2.0	2,242 (+10%)	13mo	$60,000	$27	61
1241 12th St	0.54mi	4/3.0	1,902 (-7%)	4mo	$193,000	$101	56
1530 9th St	0.39mi	5/2.5 (+1)	2,212 (+8%)	5mo	$239,500	$108	56
1807 11th St	0.62mi	4/3.0	1,937 (-5%)	8mo	$240,000	$124	52
1944 Arlington Ave	0.55mi	4/2.0	1,899 (-7%)	13mo	$127,500	$67	52
1507 12th St	0.52mi	4/3.0	2,203 (+8%)	15mo	$300,000	$136	46
718 Hickman Rd	0.63mi	4/1.0	1,904 (-7%)	16mo	$135,000	$71	42
1426 9th St	0.36mi	3/3.0 (-1)	1,774 (-13%)	15mo	$257,000	$145	40
1814 7th St	0.50mi	5/2.5 (+1)	2,268 (+11%)	17mo	$80,000	$35	38

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: 35.8%
• Equity multiple: 3.84×
• Total profit: $103,497
• Equity at exit: $117,114

10-year hold

• IRR: 32.7%
• Equity multiple: 9.45×
• Total profit: $307,404
• Equity at exit: $252,561

Cash invested: $36,400 (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 50314

• Home prices YoY: 9.8%
• Rents YoY: 8.2%
• Active inventory: 64
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$180 /mo · $2,164/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $377

Break-even live

Break-even rent $1,160

Max offer price $130,000

Occupancy floor 72%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Maple St Des Moines, IA	1.0–3.0	1.0–3.0	1158	$2,673	$2.31	14d	9	0.78mi
915 E Washington Ave Des Moines, IA	3.0	1.0	1457	$1,450	$1.00	23d	1	0.95mi
9066 Burkwood Dr West Des Moines, IA	3.0	2.5–3.5	1783	$1,960	$1.10	23d	2	1.11mi
1530 E 14th St Des Moines, IA	3.0	2.0	1428	$1,900	$1.33	14d	1	1.17mi
1637 23rd St Des Moines, IA	4.0	2.0	1743	$1,595	$0.92	43d	1	1.33mi

Listing history 2 events

1. 2026-05-18
   status Pending 489-char remark
2. 2026-04-27
   listed $130,000 Active 489-char remark

ⓘ 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: $2,164 · $180/mo
• Projected year-2 tax: $2,164 · $180/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,644
• − Mortgage interest: −$7,282
• − Property taxes: −$2,164
• − Insurance: −$650
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$3,782
• Taxable income: $2,623
• Est. tax owed @ 24.0%: −$629
• After-tax cash flow: $3,894/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

-9.6% since first listed

3 events — show timeline

• 2026-06-16 Sold (MLS) $117,500 DMMLS
• 2026-05-18 Pending — DMMLS
• 2026-04-27 Listed $130,000 DMMLS

Property tax history

+3.6%/yr

Latest (2025): $2,164 · +2.3% YoY. Source: county tax records.