421 Cedar St · Iowa Falls, IA 50126

$98,000

2 bd · 1.0 ba · 824 sqft · SingleFamily public records · 220 Days on market

Built 1905 7,841 sqft lot $119/sqft · at area comps Est $96k · at est.

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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 +22.7/30.0
• DSCR +7.3/10.0
• ARV discount +6.4/15.0
• Schools +5.6/10.0
• 1% rule +4.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and move-in ready! This beautifully updated 2-bedroom, 1-bath home is perfectly located close to schools, parks, and uptown. Step inside to find a bright, fresh interior featuring remodeled kitchen and bath, new flooring, and updated finishes throughout. Outside, enjoy the corner lot, and a new steel single stall garage and a low maintenance yard. This home is ideal for first-time buyers, downsizers, or anyone looking for comfort and value. Call today to schedule a showing!

Key facts

• Low maintenance yard
• Remodeled kitchen
• New flooring

Tags

• REMODELED KITCHEN
• REMODELED BATH
• NEW FLOORING
• CORNER LOT
• NEW STEEL SINGLE STALL GARAGE
• LOW MAINTENANCE YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $168 ($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 $96k (2.5% below list).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in Iowa Falls — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#172 in IA, #3,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Iowa Falls Community School District (town): math 62% / reading 71% proficiency, ranked #184 of 289 in IA (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 90 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; list at $98k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 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 1905 — 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: 0.98% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.34%
• DSCR: 1.33
• GRM: 8.5

CMA / ARV

• ARV (median comp): $95,690
• List price: $98,000
• Delta: 2.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 Cedar St	0.00mi	2/1.0	824 (0%)	1mo	$70,000	$85	99
1018 Rocksylvania Ave	0.04mi	2/1.0	854 (+4%)	7mo	$162,500	$190	86
507 Cedar St	0.03mi	3/1.0 (+1)	858 (+4%)	23mo	$50,000	$58	67
710 Iowa St	0.19mi	2/1.0	896 (+9%)	11mo	$76,000	$85	67
413 School St	0.41mi	2/1.0	810 (-2%)	18mo	$127,000	$157	63
115 Thompson Ave	0.47mi	2/1.0	780 (-5%)	23mo	$85,500	$110	50
810 Stevens St	0.36mi	2/1.5	936 (+14%)	11mo	$128,000	$137	50
106 Ohio Ave	0.61mi	2/1.0	712 (-14%)	1mo	$46,500	$65	48
209 Ohio Ave	0.62mi	2/1.0	880 (+7%)	23mo	$73,500	$84	41

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-5,225
• Equity at exit: $14,612

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $9,058
• Equity at exit: $8,473

Cash invested: $27,440 (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 50126

• Active inventory: 90
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$32 /mo · $390/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $168

Break-even live

Break-even rent $743

Max offer price $98,000

Occupancy floor 77%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-19
   status Pending 487-char remark

   Show marketing remark (487 chars)

   Charming and move-in ready! This beautifully updated 2-bedroom, 1-bath home is perfectly located close to schools, parks, and uptown. Step inside to find a bright, fresh interior featuring remodeled kitchen and bath, new flooring, and updated finishes throughout. Outside, enjoy the corner lot, and a new steel single stall garage and a low maintenance yard. This home is ideal for first-time buyers, downsizers, or anyone looking for comfort and value. Call today to schedule a showing!

2. 2026-04-08
   price $98,000 487-char remark

   Show marketing remark (487 chars)

   Charming and move-in ready! This beautifully updated 2-bedroom, 1-bath home is perfectly located close to schools, parks, and uptown. Step inside to find a bright, fresh interior featuring remodeled kitchen and bath, new flooring, and updated finishes throughout. Outside, enjoy the corner lot, and a new steel single stall garage and a low maintenance yard. This home is ideal for first-time buyers, downsizers, or anyone looking for comfort and value. Call today to schedule a showing!

3. 2026-01-17
   price $104,900 487-char remark

   Show marketing remark (487 chars)

   Charming and move-in ready! This beautifully updated 2-bedroom, 1-bath home is perfectly located close to schools, parks, and uptown. Step inside to find a bright, fresh interior featuring remodeled kitchen and bath, new flooring, and updated finishes throughout. Outside, enjoy the corner lot, and a new steel single stall garage and a low maintenance yard. This home is ideal for first-time buyers, downsizers, or anyone looking for comfort and value. Call today to schedule a showing!

4. 2025-11-19
   price $99,995 487-char remark

   Show marketing remark (487 chars)

   Charming and move-in ready! This beautifully updated 2-bedroom, 1-bath home is perfectly located close to schools, parks, and uptown. Step inside to find a bright, fresh interior featuring remodeled kitchen and bath, new flooring, and updated finishes throughout. Outside, enjoy the corner lot, and a new steel single stall garage and a low maintenance yard. This home is ideal for first-time buyers, downsizers, or anyone looking for comfort and value. Call today to schedule a showing!

5. 2025-10-12
   listed $104,900 Active 487-char remark

   Show marketing remark (487 chars)

   Charming and move-in ready! This beautifully updated 2-bedroom, 1-bath home is perfectly located close to schools, parks, and uptown. Step inside to find a bright, fresh interior featuring remodeled kitchen and bath, new flooring, and updated finishes throughout. Outside, enjoy the corner lot, and a new steel single stall garage and a low maintenance yard. This home is ideal for first-time buyers, downsizers, or anyone looking for comfort and value. Call today to schedule a showing!

6. 2025-06-10
   soldstatus $63,000

ⓘ 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: $390 · $32/mo
• Projected year-2 tax: $964 · $80/mo
• Expected delta: +$574/yr (+$48/mo · 147.3%)

ⓘ 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 2/10 Low 7 d/yr ≥101°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: $11,471
• − Mortgage interest: −$5,490
• − Property taxes: −$390
• − Insurance: −$490
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$2,851
• Taxable income: $416
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $1,916/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: Iowa Falls Community School District
• NCES district ID: 1914730
• Math proficiency: 62% ▼ -9.00%
• Reading proficiency: 71% ▼ -5.00%
• Median HH income: $46,696
• Composite: 56.12/100
• National rank: #1182
• State rank: #184 of 289 in IA

Livability — Iowa Falls

• Score: 77/100
• State rank: #172
• US rank: #3097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Falls, IA
• City population: 6,362
• Population (ZIP): 6,362

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 2% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 6% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.54%
• Current HPI: 146.3741
• 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

+55.6% since first listed

6 events — show timeline

• 2026-05-19 Pending — IAR
• 2026-04-08 Price Changed $98,000 IAR
• 2026-01-17 Price Changed $104,900 IAR
• 2025-11-19 Price Changed $99,995 IAR
• 2025-10-12 Listed $104,900 IAR
• 2025-06-10 Sold (Public Records) $63,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $390 · +4.8% YoY. Source: county tax records.