120 E 5th Ave · Cresco, IA 52136

$132,400

4 bd · 3.0 ba · 2,346 sqft · MultiFamily public records · 336 Days on market

Built 1887 9,670 sqft lot $56/sqft · 20% below area Est $165k · 20% under

---

Why this score? — see what drove the B+ 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
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Take a look at this spacious 5 bedroom 3 bath home. The main floor features hardwood floors, an updated kitchen, 2 half baths, laundry and 2 bedrooms. Upstairs are 3 additional bedrooms and a 3/4 bath. The master bedroom has access to a private balcony. This home has a steel roof and many vinyl replacement windows. Parking and storage will never be an issue with the detached 4 car garage. This property was formerly a triplex and could easily be converted to a multifamily residence.

Key facts

• Private balcony
• Steel roof
• Updated kitchen

Tags

• UPDATED KITCHEN
• PRIVATE BALCONY
• STEEL ROOF
• VINYL REPLACEMENT WINDOWS
• DETACHED GARAGE
• MULTIFAMILY RESIDENCE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $132k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $132k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 83/100 on livability (#30 in IA, #877 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Howard-Winneshiek Community School District (town): math 62% / reading 70% proficiency, ranked #189 of 289 in IA (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; 8 units permitted in Howard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $915 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Howard County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $132k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 15.97%
• Cash-on-cash: 34.55%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (median comp): $165,026
• List price: $132,400
• Delta: -19.77%
• 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
411 N Elm St	0.07mi	4/3.0	2,388 (+2%)	7mo	$149,900	$63	87

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

Projected returns pro-forma

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

5-year hold

• IRR: 30.0%
• Equity multiple: 2.26×
• Total profit: $46,570
• Equity at exit: $19,741

10-year hold

• IRR: 37.3%
• Equity multiple: 4.46×
• Total profit: $128,275
• Equity at exit: $11,448

Cash invested: $37,072 (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 52136

• Home prices YoY: -9.4%
• Active inventory: 26
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,528 medium
• Mortgage (P&I): −$694
• Tax from tax record: −$180 /mo · $2,164/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $1,067

Break-even live

Break-even rent $1,177

Max offer price $132,400

Occupancy floor 53%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,690
1× unit	1	0.5	$837
Total (3 units)			$2,528

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: $33,100
• Closing costs: $3,972
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-02
   days on market $132,400 Active 336 DOM
2. 2026-06-01
   days on market $132,400 Active 335 DOM
3. 2026-05-31
   days on market $132,400 Active 334 DOM
4. 2026-05-31
   days on market $132,400 Active 333 DOM
5. 2025-08-22
   price $132,400 486-char remark

   Show marketing remark (486 chars)

   Take a look at this spacious 5 bedroom 3 bath home. The main floor features hardwood floors, an updated kitchen, 2 half baths, laundry and 2 bedrooms. Upstairs are 3 additional bedrooms and a 3/4 bath. The master bedroom has access to a private balcony. This home has a steel roof and many vinyl replacement windows. Parking and storage will never be an issue with the detached 4 car garage. This property was formerly a triplex and could easily be converted to a multifamily residence.

6. 2025-07-25
   price $139,900 486-char remark

   Show marketing remark (486 chars)

   Take a look at this spacious 5 bedroom 3 bath home. The main floor features hardwood floors, an updated kitchen, 2 half baths, laundry and 2 bedrooms. Upstairs are 3 additional bedrooms and a 3/4 bath. The master bedroom has access to a private balcony. This home has a steel roof and many vinyl replacement windows. Parking and storage will never be an issue with the detached 4 car garage. This property was formerly a triplex and could easily be converted to a multifamily residence.

7. 2025-07-01
   listed $149,900 Active 486-char remark

   Show marketing remark (486 chars)

   Take a look at this spacious 5 bedroom 3 bath home. The main floor features hardwood floors, an updated kitchen, 2 half baths, laundry and 2 bedrooms. Upstairs are 3 additional bedrooms and a 3/4 bath. The master bedroom has access to a private balcony. This home has a steel roof and many vinyl replacement windows. Parking and storage will never be an issue with the detached 4 car garage. This property was formerly a triplex and could easily be converted to a multifamily residence.

8. 2018-05-09
   soldstatus $70,000
9. 2004-11-30
   soldstatus $70,000

ⓘ 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: $2,164 · $180/mo
• Projected year-2 tax: $2,164 · $180/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥98°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: $30,336
• − Mortgage interest: −$7,416
• − Property taxes: −$2,164
• − Insurance: −$662
• − Repairs & maintenance: −$2,427
• − Management: −$2,427
• − Depreciation: −$3,852
• Taxable income: $11,388
• Est. tax owed @ 24.0%: −$2,733
• After-tax cash flow: $10,074/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: Howard-Winneshiek Community School District
• NCES district ID: 1914280
• Math proficiency: 62% ▼ -11.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $46,388
• Composite: 55.68/100
• National rank: #1223
• State rank: #189 of 289 in IA

Livability — Cresco

• Score: 83/100
• State rank: #30
• US rank: #877

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cresco, IA
• City population: 5,763
• Population (ZIP): 5,763

Population outlook (Howard County) Hauer SSP2

• Today (2025): 8,964 people
• By 2030: 8,668 · -3.3%
• By 2040: 8,056 · -10.1%
• By 2050: 7,388 · -17.6%
• By 2075: 6,121 · -31.7%
• By 2100: 4,792 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Portuguese 17% Romanian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 2%

Political lean MEDSL · Howard

• 2024 margin: Solid R (+31.8) · D 33.5% · R 65.3% · Other 1.3%
• 2008→2024 swing: -57.6pp toward R · 2008: 25.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+27.3 2016: R+20.8 2012: D+21.1 2008: D+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.56%
• Current HPI: 217.8492
• 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

+89.1% since first listed

5 events — show timeline

• 2025-08-22 Price Changed $132,400 NEIRBR as distributed by MLS GRID
• 2025-07-25 Price Changed $139,900 NEIRBR as distributed by MLS GRID
• 2025-07-01 Listed $149,900 NEIRBR as distributed by MLS GRID
• 2018-05-09 Sold (Public Records) $70,000 Public Records
• 2004-11-30 Sold (Public Records) $70,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,164 · +1.0% YoY. Source: county tax records.