1005 38th St, Des Moines, IA, 50311 | $161/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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1005 38th St, Des Moines, IA, 50311 | $161/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Des Moines at 1005 38th St, Des Moines, IA, 50311 listed at $234,000 pairs $1,680/mo rent with a $1,145/mo payment to leave $161/mo cash flow. Total monthly income runs $1,680/mo, and annual cash flow reaches $1,927/yr on $77,571 cash to close. Return on cash invested measures 22.39% in year one, and rental yield registers 8.62% at a $234,000 basis. Equity gained on principal adds $1,510/yr, and annual property appreciation at 5% supports $64,650 by year five. Five-year ROI tracks 116.6% and total cumulative return in cash totals $90,447. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,680/mo property income relative to a $1,145/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Single Family

Built in 1925

5,140 sqft lot

$N/A/sqft

No HOA

More details about the property

This Craftsman bungalow with over 900 SF (plus a finished attic) sits in a quiet, scenic neighborhood just a short walk from Roosevelt and Ingersoll shops and restaurants. The all-season front sunroom has been refreshed with new flooring and improvements that make it a comfortable extension of the living space. Enjoy a beautiful sunset or a winter's snowfall. Inside, original hardwood floors and trim complement a fully updated kitchen with new cabinets, appliances, and lighting, along with an updated bathroom. Major improvements include a new roof, new siding, new windows, new doors, new HVAC, and fresh paint in the partially finished basement. Storage abounds with lots of extra shelving. Outside, the home features a replaced cement driveway and sidewalks, a detached garage, and a newly built 15 x 24 deck offering plenty of room for relaxing or entertaining. The property includes 2 bedrooms, 1 bathroom, and a finished attic, making it a move-in-ready home with thoughtful updates throughout.

Neighborhood Data

Neighborhood data shown for ZIP Code: 50311, Des Moines, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,741 (100%)
Owner Occupied HU	3,326 (49.3%)
Renter Occupied HU	2,882 (42.8%)
Vacant Housing Units	533 ( 7.9%)
Median Home Value	$257,277
Average Home Value	$278,646