308 Broadway St · Brayton, IA 50042

$120,000

3 bd · 2.0 ba · 1,636 sqft · SingleFamily public records · 101 Days on market

Built 1951 0.40 ac lot

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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).

• Cash flow +21.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +6.7/10.0
• Schools +5.7/10.0
• 1% rule +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 3 bedroom ranch home sits on a large level lot (. 4 Acre). Offering a large living/dining room, 3 bedrooms, new kitchen, new bathroom. The basement has a second bathroom and a large finished family room. Outside access from the basement. Along with an attached one car garage.

Key facts

• New kitchen
• New bathroom
• Large level lot

Tags

• LARGE LEVEL LOT
• NEW KITCHEN
• NEW BATHROOM
• FINISHED FAMILY ROOM
• OUTSIDE ACCESS FROM BASEMENT

Property features AI

Exterior

• Parking: Attached concrete garage with 1 garage space
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single family residence; Residential property
• Construction: Block, frame and vinyl siding construction; Above-grade finished area and additional below-grade finished area
• Exterior features: Metal roof; Storage structure on property; Irregular lot; City street frontage; Publicly maintained road

Interior

• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Hardwood flooring; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/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 (0.8% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#729 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• Exira-Elk Horn- Kimballton Community School District (rural): math 64% / reading 72% proficiency, ranked #172 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 4 units permitted in Audubon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($830 loan paydown + $5k appreciation (4.3% local appreciation)).
• Audubon County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.99% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.01×
• Total profit: $33,929
• Equity at exit: $63,194

10-year hold

• IRR: 17.1%
• Equity multiple: 3.84×
• Total profit: $95,519
• Equity at exit: $105,282

Cash invested: $33,600 (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 50042

• Home prices YoY: 3.7%
• Active inventory: 2
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$92 /mo · $1,098/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $170

Break-even live

Break-even rent $976

Max offer price $120,000

Occupancy floor 81%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   statusdays on market $120,000 Pending 101 DOM
2. 2026-06-08
   days on market $120,000 Active 100 DOM
3. 2026-06-07
   days on market $120,000 Active 99 DOM
4. 2026-06-05
   days on market $120,000 Active 97 DOM
5. 2026-06-04
   days on market $120,000 Active 95 DOM
6. 2026-06-02
   days on market $120,000 Active 94 DOM
7. 2026-06-01
   days on market $120,000 Active 93 DOM
8. 2026-05-31
   days on market $120,000 Active 92 DOM
9. 2026-05-31
   days on market $120,000 Active 91 DOM
10. 2026-02-28
    listed $120,000 Active

ⓘ 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: $1,098 · $92/mo
• Projected year-2 tax: $1,491 · $124/mo
• Expected delta: +$393/yr (+$33/mo · 35.8%)

ⓘ 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 ≥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: $14,286
• − Mortgage interest: −$6,722
• − Property taxes: −$1,098
• − Insurance: −$600
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$3,491
• Taxable income: $89
• Est. tax owed @ 24.0%: −$21
• After-tax cash flow: $2,015/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: Exira-Elk Horn- Kimballton Community School District
• NCES district ID: 1911250
• Math proficiency: 64% ▬ 0.00%
• Reading proficiency: 72% ▲ 3.00%
• Median HH income: $46,338
• Composite: 57.33/100
• National rank: #1084
• State rank: #172 of 289 in IA

Livability — Brayton

• Score: 62/100
• State rank: #729
• US rank: #16817

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brayton, IA
• Population (ZIP): 228

Population outlook (Audubon County) Hauer SSP2

• Today (2025): 5,157 people
• By 2030: 4,837 · -6.2%
• By 2040: 4,241 · -17.8%
• By 2050: 3,679 · -28.7%
• By 2075: 2,917 · -43.4%
• By 2100: 2,408 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 4% Pacific Islander 2%
• Common ancestry: Slovak 7% Romanian 2%

Political lean MEDSL · Audubon

• 2024 margin: Solid R (+38.4) · D 29.9% · R 68.3% · Other 1.7%
• 2008→2024 swing: -41.5pp toward R · 2008: 3.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+35.8 2016: R+31.2 2012: R+5.6 2008: D+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.33%
• Current HPI: 120.9518
• 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 event — show timeline

• 2026-02-28 Listed $120,000 IAR

Property tax history

+7.3%/yr

Latest (2023): $1,098 · +19.1% YoY. Source: county tax records.