207 Brown St · Alexander, IA 50420

$74,000

3 bd · 1.0 ba · 1,480 sqft · SingleFamily public records · 52 Days on market

Built 1945 0.26 ac lot $50/sqft · 42% below area Est $127k · 42% under ↓ 18% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.9/10.0
• Schools +5.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

If you've been waiting for something affordable, but has great living space, this may be it. This charming 3 bed, 1 bath home offers a spacious open living area that feels inviting from the moment you step in. It's a great opportunity for first-time buyers or anyone looking for a practical space. You've got a two-car attached garage for everyday convenience, plus a backyard shed for storage, hobbies, or whatever you need. Schedule an appointment to see for yourself!

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1945

Property features AI

Exterior

• Parking: Attached or detached 2-car garage
• Utilities: Septic tank and public sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Block foundation; Built (year not provided)
• Exterior features: Deck; Shed(s); Cleared lot

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Water softener (owned)
• Bedrooms: Master bedroom on the main level
• Flooring: Vinyl
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Master suite on the main level; Gas fireplace
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#801 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• Cal Community School District (rural): math 60% / reading 70% proficiency, ranked #238 of 330 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($512 loan paydown + $4k appreciation (5.8% local appreciation)).
• Franklin County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,780 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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 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?
5. Crime grade is D 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?
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: 1.51% ✓
• Cap rate: 12.70%
• Cash-on-cash: 22.88%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

• ARV (median comp): $127,104
• List price: $74,000
• Delta: -41.78%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Center Ave	0.14mi	3/1.0	1,648 (+11%)	2mo	$128,000	$78	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.2%
• Equity multiple: 3.20×
• Total profit: $45,639
• Equity at exit: $45,577

10-year hold

• IRR: 32.0%
• Equity multiple: 6.54×
• Total profit: $114,794
• Equity at exit: $81,850

Cash invested: $20,720 (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 50420

• Home prices YoY: 5.2%
• Active inventory: 1
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,117 medium
• Mortgage (P&I): −$388
• Tax from tax record: −$69 /mo · $823/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $395

Break-even live

Break-even rent $617

Max offer price $74,000

Occupancy floor 60%

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $74,000 Active 52 DOM
2. 2026-06-17
   days on market $74,000 Active 51 DOM
3. 2026-06-17
   price $74,000 Active 50 DOM
4. 2026-06-16
   days on market $78,000 Active 50 DOM
5. 2026-06-15
   days on market $78,000 Active 49 DOM
6. 2026-06-13
   days on market $78,000 Active 47 DOM
7. 2026-06-12
   days on market $78,000 Active 46 DOM
8. 2026-06-09
   days on market $78,000 Active 43 DOM
9. 2026-06-08
   days on market $78,000 Active 42 DOM
10. 2026-06-07
    days on market $78,000 Active 41 DOM
11. 2026-06-05
    days on market $78,000 Active 39 DOM
12. 2026-06-04
    days on market $78,000 Active 37 DOM
13. 2026-06-02
    pricedays on market $78,000 Active 36 DOM
14. 2026-06-01
    days on market $85,000 Active 35 DOM
15. 2026-05-31
    days on market $85,000 Active 34 DOM
16. 2026-05-31
    days on market $85,000 Active 33 DOM
17. 2026-04-27
    listed $90,000 Active 470-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: $823 · $69/mo
• Projected year-2 tax: $992 · $83/mo
• Expected delta: +$169/yr (+$14/mo · 20.6%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 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: $13,405
• − Mortgage interest: −$4,145
• − Property taxes: −$823
• − Insurance: −$370
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − Depreciation: −$2,153
• Taxable income: $3,769
• Est. tax owed @ 24.0%: −$905
• After-tax cash flow: $3,835/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: Cal Community School District
• NCES district ID: 1905970
• Math proficiency: 60% ▼ -5.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $46,352
• Composite: 56.26/100
• National rank: #2503
• State rank: #238 of 330 in IA

Livability — Alexander

• Score: 61/100
• State rank: #801
• US rank: #18217

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alexander, IA
• Population (ZIP): 404

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 9,779 people
• By 2030: 9,456 · -3.3%
• By 2040: 8,737 · -10.7%
• By 2050: 8,142 · -16.7%
• By 2075: 7,345 · -24.9%
• By 2100: 6,978 · -28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 15% Two or more races 11%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Portuguese 1% Scottish 0%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+41.7) · D 28.5% · R 70.2% · Other 1.2%
• 2008→2024 swing: -43.2pp toward R · 2008: 1.4pp · 2024: -41.7pp
• All cycles: 2024: R+41.7 2020: R+35.0 2016: R+33.8 2012: R+10.9 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.80%
• Current HPI: 116.7899
• 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

-17.8% since first listed

4 events — show timeline

• 2026-06-16 Price Changed $74,000 CIBOR
• 2026-06-01 Price Changed $78,000 CIBOR
• 2026-05-21 Price Changed $85,000 CIBOR
• 2026-04-27 Listed $90,000 CIBOR

Property tax history

+6.3%/yr

Latest (2024): $823 · -0.6% YoY. Source: county tax records.