307 E Main St · Wayland, IA 52654

$53,000

3 bd · 1.0 ba · 1,253 sqft · SingleFamily public records · 36 Days on market

Built 1865 0.31 ac lot $42/sqft · 56% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 2-story home sits on a 68 x 132 lot plus an adjoining half measuring 32 x 132. There are 3 upstairs bedrooms and a main floor bath and laundry. The property is in need of significant updating and is being sold in as-is condition.

Key facts

• 0.31 acre lot
• Built 1865
• Listed 35 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Electrical service with circuit breakers
• Home design: Two-story single-family residence; Residential property
• Construction: Vinyl siding; Built with standard foundation
• Exterior features: Shingle and metal roofs; Storage structure on property; Public maintained road frontage on a city street

Interior

• Bathrooms: 1 full bathroom
• Interior features: Basement present; Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#202 in IA, #3,710 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Waco Community School District (rural): math 56% / reading 64% proficiency, ranked #242 of 289 in IA (top 84%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 30 units permitted in Henry County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($366 loan paydown + $2k appreciation (3.0% local appreciation)).
• Henry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1865 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,410 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1865 — 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 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?
5. 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.
6. 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.
7. 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: 1.99% ✓
• Cap rate: 16.43%
• Cash-on-cash: 36.19%
• DSCR: 2.61
• GRM: 4.2

CMA / ARV

• ARV (median comp): $121,557
• List price: $53,000
• Delta: -56.40%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 E Front St	0.14mi	2/1.5 (-1)	1,104 (-12%)	4mo	$93,000	$84	64
211 W Depot St	0.46mi	3/1.0	1,376 (+10%)	11mo	$40,000	$29	53
109 W Main St	0.32mi	2/1.0 (-1)	1,150 (-8%)	24mo	$118,000	$103	46
112 W 2nd St	0.33mi	2/1.0 (-1)	1,070 (-15%)	15mo	$105,000	$98	43

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: 41.8%
• Equity multiple: 3.35×
• Total profit: $34,916
• Equity at exit: $23,831

10-year hold

• IRR: 41.7%
• Equity multiple: 6.69×
• Total profit: $84,397
• Equity at exit: $36,727

Cash invested: $14,840 (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 52654

• Active inventory: 4
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$278
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $448

Break-even live

Break-even rent $488

Max offer price $53,000

Occupancy floor 53%

Sensitivity live

Price	-10% $478	-5% $463	+0% $448	+5% $433	+10% $418
Rent	-10% $364	-5% $406	+0% $448	+5% $489	+10% $531
Rate	-1.0pp $474	-0.5pp $461	base $448	+0.5pp $434	+1.0pp $420

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $53,000 Active 36 DOM
2. 2026-06-17
   days on market $53,000 Active 35 DOM
3. 2026-06-16
   days on market $53,000 Active 34 DOM
4. 2026-06-15
   days on market $53,000 Active 33 DOM
5. 2026-06-13
   days on market $53,000 Active 31 DOM
6. 2026-06-12
   days on market $53,000 Active 30 DOM
7. 2026-06-09
   days on market $53,000 Active 27 DOM
8. 2026-06-08
   days on market $53,000 Active 26 DOM
9. 2026-06-07
   days on market $53,000 Active 25 DOM
10. 2026-06-04
    days on market $53,000 Active 21 DOM
11. 2026-06-02
    days on market $53,000 Active 20 DOM
12. 2026-06-01
    days on market $53,000 Active 19 DOM
13. 2026-05-31
    days on market $53,000 Active 18 DOM
14. 2026-05-31
    days on market $53,000 Active 17 DOM
15. 2026-05-12
    listed $53,000 Active 426-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: $1,024 · $85/mo
• Projected year-2 tax: $1,024 · $85/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,651
• − Mortgage interest: −$2,969
• − Property taxes: −$1,024
• − Insurance: −$265
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$1,542
• Taxable income: $4,828
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,212/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: Waco Community School District
• NCES district ID: 1929490
• Math proficiency: 56% ▼ -8.00%
• Reading proficiency: 64% ▬ 0.00%
• Median HH income: $52,874
• Composite: 51.32/100
• National rank: #1740
• State rank: #242 of 289 in IA

Livability — Wayland

• Score: 76/100
• State rank: #202
• US rank: #3710

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayland, IA
• Population (ZIP): 1,886

Population outlook (Henry County) Hauer SSP2

• Today (2025): 19,583 people
• By 2030: 19,271 · -1.6%
• By 2040: 18,505 · -5.5%
• By 2050: 17,796 · -9.1%
• By 2075: 16,821 · -14.1%
• By 2100: 15,549 · -20.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 9%
• Common ancestry: Portuguese 4% Lithuanian 3% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+36.0) · D 31.3% · R 67.3% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: -5.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+32.4 2016: R+30.9 2012: R+6.0 2008: R+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

• 2026-05-12 Listed $53,000 IAR

Property tax history

+3.6%/yr

Latest (2025): $1,024 · +5.1% YoY. Source: county tax records.