306 S Locust Ave · New Hampton, IA 50659

$149,900

3 bd · 2.5 ba · 1,855 sqft · SingleFamily public records · 6 Days on market

Built 1948 6,811 sqft lot Est $187k · 20% under ↓ 2% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• Appreciation +10.0/10.0
• Schools +6.3/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't miss your opportunity to see this charming home. Over 1800 sq. ft. of living space. Home features living room, formal dining room, 2 bedrooms, bath and laundry all on the main level. Upper level includes 1 bedroom and lower level has a family room, lots of storage cabinets and partial bath. Contact agent for private showing today!

Key facts

• Main floor laundry
• Cozy family room
• Bright living room

Tags

• UPDATED KITCHEN
• MAIN FLOOR LAUNDRY
• COZY FAMILY ROOM
• BRIGHT LIVING ROOM

Property features AI

Exterior

• Parking: Attached garage; 1-car carport
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service available
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Basement (block and concrete); Below-grade finished area
• Exterior features: Shingle (asphalt) roof; Concrete road surface

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator; Gas water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Eat-in kitchen; Main-level laundry; Basement with block and concrete construction; No fireplace; Water softener (owned)
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-5 ($-63/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (14.1% below list).
• Recommended offer: $129k (14.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#147 in IA, #2,653 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• New Hampton Community School District (town): math 76% / reading 73% proficiency, ranked #84 of 289 in IA (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: New Hampton Elementary School (math 67% / reading 52%, grade B-, #390 of 616 statewide, top 69%, 401 students, 33% FRL); New Hampton Middle School (math 83% / reading 76%, grade A+, #35 of 246 statewide, top 16%, 279 students, 34% FRL); New Hampton High School (math 75% / reading 79%, grade A-, #60 of 336 statewide, top 21%, 339 students, 28% FRL).
• Market conditions: 28 active listings in the ZIP; 6 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Chickasaw County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,835 (14.1% 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. Built in 1948 — 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 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?
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: 0.86% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $187,355
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 S Chestnut Ave	0.15mi	3/1.5	1,973 (+6%)	2mo	$190,000	$96	76
269 S Chestnut Ave	0.09mi	3/1.5	1,903 (+3%)	13mo	$86,000	$45	76
115 N Linn Ave	0.52mi	3/1.5	1,754 (-5%)	2mo	$155,000	$88	61
272 S Alta Ave	0.13mi	3/2.0	1,640 (-12%)	16mo	$258,000	$157	59
511 E Main St	0.48mi	4/2.0 (+1)	1,885 (+2%)	12mo	$190,000	$101	58
254 S Locust Ave	0.09mi	3/2.0	2,104 (+13%)	18mo	$212,000	$101	56
307 E Washington St	0.65mi	3/2.5	1,836 (-1%)	16mo	$185,000	$101	55
709 Evergreen St	0.42mi	3/2.0	1,612 (-13%)	8mo	$220,000	$136	50
246 S Water Ave Ave	0.13mi	4/7.0 (+1)	1,652 (-11%)	8mo	$160,000	$97	49
507 W Main St	0.58mi	3/1.5	1,681 (-9%)	10mo	$82,000	$49	46
212 S Sheakley Ave	0.58mi	3/1.0	1,668 (-10%)	6mo	$190,000	$114	45
315 N Chestnut Ave	0.63mi	4/1.5 (+1)	1,976 (+6%)	9mo	$184,000	$93	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.94×
• Total profit: $81,317
• Equity at exit: $135,042

10-year hold

• IRR: 21.4%
• Equity multiple: 6.71×
• Total profit: $239,751
• Equity at exit: $291,223

Cash invested: $41,972 (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 50659

• Home prices YoY: 13.9%
• Active inventory: 28
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$174 /mo · $2,094/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-5

Break-even live

Break-even rent $1,295

Max offer price $148,973

Occupancy floor 95%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $149,900 Active 6 DOM
2. 2026-06-17
   days on market $149,900 Active 5 DOM
3. 2026-06-16
   days on market $149,900 Active 4 DOM
4. 2026-06-16
   pricestatus $149,900 Active 3 DOM
5. 2026-05-21
   status Pending
6. 2026-05-18
   listed $136,000 Active
7. 2022-11-09
   soldstatus $135,000 Closed 338-char remark

   Show marketing remark (338 chars)

   Don't miss your opportunity to see this charming home. Over 1800 sq. ft. of living space. Home features living room, formal dining room, 2 bedrooms, bath and laundry all on the main level. Upper level includes 1 bedroom and lower level has a family room, lots of storage cabinets and partial bath. Contact agent for private showing today!

8. 2022-09-24
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Don't miss your opportunity to see this charming home. Over 1800 sq. ft. of living space. Home features living room, formal dining room, 2 bedrooms, bath and laundry all on the main level. Upper level includes 1 bedroom and lower level has a family room, lots of storage cabinets and partial bath. Contact agent for private showing today!

9. 2022-08-23
   listed $138,500 Active 338-char remark

   Show marketing remark (338 chars)

   Don't miss your opportunity to see this charming home. Over 1800 sq. ft. of living space. Home features living room, formal dining room, 2 bedrooms, bath and laundry all on the main level. Upper level includes 1 bedroom and lower level has a family room, lots of storage cabinets and partial bath. Contact agent for private showing today!

ⓘ 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: $2,094 · $174/mo
• Projected year-2 tax: $2,224 · $185/mo
• Expected delta: +$130/yr (+$11/mo · 6.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $15,460
• − Mortgage interest: −$8,397
• − Property taxes: −$2,094
• − Insurance: −$750
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$4,361
• Taxable loss: −$2,614
• Est. tax savings @ 24.0%: +$627
• After-tax cash flow: $564/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: New Hampton Community School District
• NCES district ID: 1920340
• Math proficiency: 76% ▼ -4.00%
• Reading proficiency: 73% ▲ 3.00%
• Median HH income: $46,395
• Composite: 62.78/100
• National rank: #668
• State rank: #84 of 289 in IA

Livability — New Hampton

• Score: 78/100
• State rank: #147
• US rank: #2653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Hampton, IA
• Population (ZIP): 5,942

Population outlook (Chickasaw County) Hauer SSP2

• Today (2025): 11,503 people
• By 2030: 11,187 · -2.7%
• By 2040: 10,569 · -8.1%
• By 2050: 9,997 · -13.1%
• By 2075: 8,819 · -23.3%
• By 2100: 7,126 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 7% Iranian 2% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 5% German/W. Germanic 3%

Political lean MEDSL · Chickasaw

• 2024 margin: Solid R (+37.2) · D 30.8% · R 68.0% · Other 1.2%
• 2008→2024 swing: -57.9pp toward R · 2008: 20.8pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+31.3 2016: R+23.2 2012: D+11.1 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 41.75%
• Current HPI: 341.83
• 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

-1.8% since first listed

5 events — show timeline

• 2026-05-21 Pending — NEIRBR as distributed by MLS GRID
• 2026-05-18 Listed $136,000 NEIRBR as distributed by MLS GRID
• 2022-11-09 Sold (MLS) $135,000 NEIRBR as distributed by MLS GRID
• 2022-09-24 Pending — NEIRBR as distributed by MLS GRID
• 2022-08-23 Listed $138,500 NEIRBR as distributed by MLS GRID

Property tax history

+4.2%/yr

Latest (2025): $2,094 · +4.1% YoY. Source: county tax records.