109 Maxwell St · Maxwell, IA 50161

$123,900

3 bd · 2.0 ba · 1,677 sqft · SingleFamily public records · 78 Days on market

Built 1882 7,100 sqft lot $74/sqft · 36% below area Est $195k · 36% under

---

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 +15.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +5.7/10.0
• DSCR +4.9/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 1882 home in the heart of Maxwell offering 3 bedrooms and 1.5 baths with 1,677 sq ft of living space. The added main floor half bath brings everyday convenience while the home still shines with timeless character, including original trim and period details throughout plus beautiful wood floors in a classic block pattern. The primary bedroom features a bonus room currently used as an office, ideal for a nursery, sitting room, or walk in closet option. Enjoy mornings on the front porch, and relax or entertain on the patio. The fenced yard is perfect for play or pets, and a large 2 car detached garage adds great storage and functionality. Seller will leave the chest deep freeze and extra refrigerator in the garage. Ideally located just a short walk to Maxwell City Park and a quick walk to the middle and high school. Easy commute about 30 minutes to both Ames and Des Moines. Home will be sold AS IS and is priced to sell.

Key facts

• Main floor half bath
• Wood floors
• Front porch

Tags

• MAIN FLOOR HALF BATH
• ORIGINAL TRIM
• PERIOD DETAILS
• WOOD FLOORS
• BONUS ROOM
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $56 ($671/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (4.0% below list).
• Recommended offer: $116k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#203 in IA, #3,711 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F.
• Collins-Maxwell Community School District (rural): math 62% / reading 69% proficiency, ranked #179 of 289 in IA (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 active listings in the ZIP; 196 units permitted in Story County in 2024 (34 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($857 loan paydown + $12k appreciation (10.0% local appreciation)).
• Story County population projected at +54% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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 78 days — a 6% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $103k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1882 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1882 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.94%
• DSCR: 1.09
• GRM: 8.7

CMA / ARV

• ARV (median comp): $195,021
• List price: $123,900
• Delta: -36.47%
• 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
220 Maxwell St	0.10mi	4/2.0 (+1)	1,662 (-1%)	4mo	$182,500	$110	86
509 2nd St	0.06mi	3/1.5	1,565 (-7%)	6mo	$161,000	$103	79
101 Metcalf St	0.07mi	3/2.0	1,792 (+7%)	10mo	$172,000	$96	77
121 Woodlawn St	0.22mi	4/1.0 (+1)	1,656 (-1%)	6mo	$100,000	$60	73
621 2nd St	0.12mi	2/2.5 (-1)	1,574 (-6%)	7mo	$215,000	$137	72
425 Maxwell St	0.25mi	4/1.0 (+1)	1,755 (+5%)	7mo	$180,000	$103	66
608 7th St	0.44mi	4/2.0 (+1)	1,584 (-6%)	2mo	$269,000	$170	64
312 Maxwell St	0.15mi	4/1.0 (+1)	1,517 (-10%)	6mo	$34,900	$23	63
624 6th St	0.36mi	3/2.5	1,825 (+9%)	6mo	$179,900	$99	61
617 Metcalf St	0.40mi	4/2.0 (+1)	1,809 (+8%)	2mo	$320,000	$177	61
80 Maxwell St	0.07mi	4/1.0 (+1)	1,490 (-11%)	11mo	$168,000	$113	60
307 5th St	0.32mi	2/1.5 (-1)	1,457 (-13%)	7mo	$240,000	$165	50

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: 25.7%
• Equity multiple: 3.05×
• Total profit: $71,077
• Equity at exit: $111,619

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $206,578
• Equity at exit: $240,710

Cash invested: $34,692 (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 50161

• Home prices YoY: 11.3%
• Active inventory: 19
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,189 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$182 /mo · $2,188/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $56

Break-even live

Break-even rent $1,119

Max offer price $123,900

Occupancy floor 90%

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: $30,975
• Closing costs: $3,717
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $123,900 Active 78 DOM
2. 2026-06-17
   days on market $123,900 Active 77 DOM
3. 2026-06-16
   days on market $123,900 Active 76 DOM
4. 2026-06-15
   days on market $123,900 Active 75 DOM
5. 2026-06-13
   days on market $123,900 Active 73 DOM
6. 2026-06-12
   days on market $123,900 Active 72 DOM
7. 2026-06-09
   days on market $123,900 Active 69 DOM
8. 2026-06-08
   days on market $123,900 Active 68 DOM
9. 2026-06-07
   days on market $123,900 Active 67 DOM
10. 2026-06-07
    days on market $123,900 Active 66 DOM
11. 2026-06-04
    days on market $123,900 Active 63 DOM
12. 2026-06-02
    days on market $123,900 Active 62 DOM
13. 2026-06-01
    days on market $123,900 Active 61 DOM
14. 2026-05-31
    days on market $123,900 Active 60 DOM
15. 2026-05-31
    days on market $123,900 Active 59 DOM
16. 2026-04-29
    price $124,900 939-char remark

    Show marketing remark (939 chars)

    Charming 1882 home in the heart of Maxwell offering 3 bedrooms and 1.5 baths with 1,677 sq ft of living space. The added main floor half bath brings everyday convenience while the home still shines with timeless character, including original trim and period details throughout plus beautiful wood floors in a classic block pattern. The primary bedroom features a bonus room currently used as an office, ideal for a nursery, sitting room, or walk in closet option. Enjoy mornings on the front porch, and relax or entertain on the patio. The fenced yard is perfect for play or pets, and a large 2 car detached garage adds great storage and functionality. Seller will leave the chest deep freeze and extra refrigerator in the garage. Ideally located just a short walk to Maxwell City Park and a quick walk to the middle and high school. Easy commute about 30 minutes to both Ames and Des Moines. Home will be sold AS IS and is priced to sell.

17. 2026-04-01
    listed $130,000 Active 939-char remark

    Show marketing remark (939 chars)

    Charming 1882 home in the heart of Maxwell offering 3 bedrooms and 1.5 baths with 1,677 sq ft of living space. The added main floor half bath brings everyday convenience while the home still shines with timeless character, including original trim and period details throughout plus beautiful wood floors in a classic block pattern. The primary bedroom features a bonus room currently used as an office, ideal for a nursery, sitting room, or walk in closet option. Enjoy mornings on the front porch, and relax or entertain on the patio. The fenced yard is perfect for play or pets, and a large 2 car detached garage adds great storage and functionality. Seller will leave the chest deep freeze and extra refrigerator in the garage. Ideally located just a short walk to Maxwell City Park and a quick walk to the middle and high school. Easy commute about 30 minutes to both Ames and Des Moines. Home will be sold AS IS and is priced to sell.

18. 2018-09-27
    soldstatus $103,000
19. 2018-09-26
    soldstatus $103,000 385-char remark

    Show marketing remark (385 chars)

    24' x 30' detached garage built in 2003. (Not heated) Seller will not participate in radon mitigation if found in home. 2 blocks to middle/high school. Walk to Caseys, Logsdon's full service grocery & one of a kind museums. Due to large price reduction home now being offered as is; no further improvements will be made nor will seller participate in radon testing or mitigation.

20. 2018-01-20
    listed $99,900 385-char remark

    Show marketing remark (385 chars)

    24' x 30' detached garage built in 2003. (Not heated) Seller will not participate in radon mitigation if found in home. 2 blocks to middle/high school. Walk to Caseys, Logsdon's full service grocery & one of a kind museums. Due to large price reduction home now being offered as is; no further improvements will be made nor will seller participate in radon testing or mitigation.

21. 2015-11-13
    soldstatus $61,000

ⓘ 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: $2,188 · $182/mo
• Projected year-2 tax: $2,188 · $182/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $14,273
• − Mortgage interest: −$6,940
• − Property taxes: −$2,188
• − Insurance: −$620
• − Repairs & maintenance: −$1,142
• − Management: −$1,142
• − Depreciation: −$3,604
• Taxable loss: −$1,363
• Est. tax savings @ 24.0%: +$327
• After-tax cash flow: $998/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: Collins-Maxwell Community School District
• NCES district ID: 1907900
• Math proficiency: 62% ▲ 2.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $61,249
• Composite: 56.69/100
• National rank: #1131
• State rank: #179 of 289 in IA

Livability — Maxwell

• Score: 76/100
• State rank: #203
• US rank: #3711

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maxwell, IA
• Population (ZIP): 2,081

Population outlook (Story County) Hauer SSP2

• Today (2025): 115,493 people
• By 2030: 126,820 · +9.8%
• By 2040: 150,771 · +30.5%
• By 2050: 177,915 · +54.0%
• By 2075: 255,370 · +121.1%
• By 2100: 316,429 · +174.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Story

• 2024 margin: D (+10.4) · D 54.4% · R 44.0% · Other 1.6%
• 2008→2024 swing: -5.8pp toward R · 2008: 16.2pp · 2024: 10.4pp
• All cycles: 2024: D+10.4 2020: D+17.3 2016: D+12.2 2012: D+13.7 2008: D+16.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 31.97%
• Current HPI: 314.9589
• 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

+104.8% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $124,900 DMMLS
• 2026-04-01 Listed $130,000 DMMLS
• 2018-09-27 Sold (Public Records) $103,000 Public Records
• 2018-09-26 Sold (MLS) $103,000 CIBOR
• 2018-01-20 Listed $99,900 CIBOR
• 2015-11-13 Sold (Public Records) $61,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,188 · +1.6% YoY. Source: county tax records.