422 N 3rd Ave E · Newton, IA 50208

$189,000

4 bd · 3.0 ba · 2,280 sqft · SingleFamily public records · 233 Days on market

Built 1900 7,897 sqft lot $83/sqft · 11% below area Est $212k · 11% under

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Why this score? — see what drove the D 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).

• ARV discount +12.4/15.0
• Cash flow +9.8/30.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting and spacious 4 bedroom 3 bathroom home that offers comfort, flexibility and plenty of space for everyone! The main level features a formal dining room, a bright living room, full bathroom, and a versatile office that can easily be used as a 4th bedroom. The kitchen is warm and functional perfect for family gatherings and home cooked meals, with dining space that leads to the large fenced in backyard ideal for pets, play and outdoor entertaining. There is also a partially finished area in the basement ideal for a rec space or even another non conforming bedroom. The above ground pool with a wrap-around deck is ready to shine again - it just needs a new liner and equipment to bring it back to summer fun! Upstairs you will find 3 spacious bedrooms and 2 more bathrooms including an suite off the primary complete with a jacuzzi tub. The generous sized walk in closet also has the convenience of upstairs laundry in your bedroom. With generous living spaces, flexible layout options, and an amazing backyard setup, this home has everything you need to make lasting memories!

Key facts

• Formal dining room
• Above ground pool
• Bright living room

Tags

• FORMAL DINING ROOM
• BRIGHT LIVING ROOM
• VERSATILE OFFICE
• LARGE FENCED IN BACKYARD
• PARTIALLY FINISHED AREA
• ABOVE GROUND POOL

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (18.3% below list).
• Recommended offer: $154k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.1% in Newton — 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 (#169 in IA, #3,069 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 233 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $113k; list at $189k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,473 (18.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 233 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.78%
• DSCR: 0.88
• GRM: 10.2

CMA / ARV

• ARV (median comp): $212,119
• List price: $189,000
• Delta: -10.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 N 6th Ave E	0.22mi	4/1.5	2,229 (-2%)	14mo	$166,000	$74	69
420 S 3rd Ave E	0.26mi	3/2.5 (-1)	2,225 (-2%)	12mo	$282,500	$127	67
600 S 3rd Ave W	0.66mi	4/3.0	2,044 (-10%)	11mo	$187,000	$91	43
323 W 2nd St S	0.48mi	3/2.5 (-1)	2,152 (-6%)	24mo	$228,500	$106	42
522 1st Ave W	0.62mi	5/2.0 (+1)	2,463 (+8%)	17mo	$262,000	$106	34

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: -20.9%
• Equity multiple: 0.27×
• Total profit: $-38,385
• Equity at exit: $28,181

10-year hold

• IRR: -14.2%
• Equity multiple: 0.18×
• Total profit: $-43,289
• Equity at exit: $16,341

Cash invested: $52,920 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$273 /mo · $3,276/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-123

Break-even live

Break-even rent $1,700

Max offer price $167,351

Occupancy floor —

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 1st Ave W Newton, IA	4.0	2.0	2136	$1,850	$0.87	44d	1	0.62mi
712 W 12th St S Newton, IA	3.0	2.5	2087	$1,700	$0.81	23d	1	1.12mi

Listing history 27 events

1. 2026-06-18
   days on market $189,000 Active 233 DOM
2. 2026-06-17
   days on market $189,000 Active 232 DOM
3. 2026-06-16
   days on market $189,000 Active 231 DOM
4. 2026-06-15
   days on market $189,000 Active 230 DOM
5. 2026-06-14
   days on market $189,000 Active 228 DOM
6. 2026-06-13
   days on market $189,000 Active 227 DOM
7. 2026-06-10
   days on market $189,000 Active 225 DOM
8. 2026-06-09
   days on market $189,000 Active 224 DOM
9. 2026-06-08
   days on market $189,000 Active 223 DOM
10. 2026-06-07
    days on market $189,000 Active 222 DOM
11. 2026-06-05
    days on market $189,000 Active 219 DOM
12. 2026-06-03
    days on market $189,000 Active 218 DOM
13. 2026-06-02
    days on market $189,000 Active 217 DOM
14. 2026-06-01
    days on market $189,000 Active 216 DOM
15. 2026-05-31
    days on market $189,000 Active 215 DOM
16. 2026-05-31
    days on market $189,000 Active 214 DOM
17. 2026-05-12
    price $189,000 1107-char remark

    Show marketing remark (1107 chars)

    Welcome to this inviting and spacious 4 bedroom 3 bathroom home that offers comfort, flexibility and plenty of space for everyone! The main level features a formal dining room, a bright living room, full bathroom, and a versatile office that can easily be used as a 4th bedroom. The kitchen is warm and functional perfect for family gatherings and home cooked meals, with dining space that leads to the large fenced in backyard ideal for pets, play and outdoor entertaining. There is also a partially finished area in the basement ideal for a rec space or even another non conforming bedroom. The above ground pool with a wrap-around deck is ready to shine again - it just needs a new liner and equipment to bring it back to summer fun! Upstairs you will find 3 spacious bedrooms and 2 more bathrooms including an suite off the primary complete with a jacuzzi tub. The generous sized walk in closet also has the convenience of upstairs laundry in your bedroom. With generous living spaces, flexible layout options, and an amazing backyard setup, this home has everything you need to make lasting memories!

18. 2026-04-28
    status Active 1107-char remark

    Show marketing remark (1107 chars)

    Welcome to this inviting and spacious 4 bedroom 3 bathroom home that offers comfort, flexibility and plenty of space for everyone! The main level features a formal dining room, a bright living room, full bathroom, and a versatile office that can easily be used as a 4th bedroom. The kitchen is warm and functional perfect for family gatherings and home cooked meals, with dining space that leads to the large fenced in backyard ideal for pets, play and outdoor entertaining. There is also a partially finished area in the basement ideal for a rec space or even another non conforming bedroom. The above ground pool with a wrap-around deck is ready to shine again - it just needs a new liner and equipment to bring it back to summer fun! Upstairs you will find 3 spacious bedrooms and 2 more bathrooms including an suite off the primary complete with a jacuzzi tub. The generous sized walk in closet also has the convenience of upstairs laundry in your bedroom. With generous living spaces, flexible layout options, and an amazing backyard setup, this home has everything you need to make lasting memories!

19. 2026-04-27
    historical 1107-char remark

    Show marketing remark (1107 chars)

    Welcome to this inviting and spacious 4 bedroom 3 bathroom home that offers comfort, flexibility and plenty of space for everyone! The main level features a formal dining room, a bright living room, full bathroom, and a versatile office that can easily be used as a 4th bedroom. The kitchen is warm and functional perfect for family gatherings and home cooked meals, with dining space that leads to the large fenced in backyard ideal for pets, play and outdoor entertaining. There is also a partially finished area in the basement ideal for a rec space or even another non conforming bedroom. The above ground pool with a wrap-around deck is ready to shine again - it just needs a new liner and equipment to bring it back to summer fun! Upstairs you will find 3 spacious bedrooms and 2 more bathrooms including an suite off the primary complete with a jacuzzi tub. The generous sized walk in closet also has the convenience of upstairs laundry in your bedroom. With generous living spaces, flexible layout options, and an amazing backyard setup, this home has everything you need to make lasting memories!

20. 2026-04-24
    price $199,000 1107-char remark

    Show marketing remark (1107 chars)

    Welcome to this inviting and spacious 4 bedroom 3 bathroom home that offers comfort, flexibility and plenty of space for everyone! The main level features a formal dining room, a bright living room, full bathroom, and a versatile office that can easily be used as a 4th bedroom. The kitchen is warm and functional perfect for family gatherings and home cooked meals, with dining space that leads to the large fenced in backyard ideal for pets, play and outdoor entertaining. There is also a partially finished area in the basement ideal for a rec space or even another non conforming bedroom. The above ground pool with a wrap-around deck is ready to shine again - it just needs a new liner and equipment to bring it back to summer fun! Upstairs you will find 3 spacious bedrooms and 2 more bathrooms including an suite off the primary complete with a jacuzzi tub. The generous sized walk in closet also has the convenience of upstairs laundry in your bedroom. With generous living spaces, flexible layout options, and an amazing backyard setup, this home has everything you need to make lasting memories!

21. 2025-10-27
    listed $205,000 Active 1107-char remark

    Show marketing remark (1107 chars)

    Welcome to this inviting and spacious 4 bedroom 3 bathroom home that offers comfort, flexibility and plenty of space for everyone! The main level features a formal dining room, a bright living room, full bathroom, and a versatile office that can easily be used as a 4th bedroom. The kitchen is warm and functional perfect for family gatherings and home cooked meals, with dining space that leads to the large fenced in backyard ideal for pets, play and outdoor entertaining. There is also a partially finished area in the basement ideal for a rec space or even another non conforming bedroom. The above ground pool with a wrap-around deck is ready to shine again - it just needs a new liner and equipment to bring it back to summer fun! Upstairs you will find 3 spacious bedrooms and 2 more bathrooms including an suite off the primary complete with a jacuzzi tub. The generous sized walk in closet also has the convenience of upstairs laundry in your bedroom. With generous living spaces, flexible layout options, and an amazing backyard setup, this home has everything you need to make lasting memories!

22. 2015-09-14
    historical
23. 2015-07-02
    historical
24. 2015-03-04
    listed $122,500
25. 2015-03-04
    listed $120,000
26. 2015-03-04
    listed $122,500
27. 2007-12-26
    soldstatus $113,000

ⓘ 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: $3,276 · $273/mo
• Projected year-2 tax: $3,276 · $273/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 ≥104°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: $18,537
• − Mortgage interest: −$10,587
• − Property taxes: −$3,276
• − Insurance: −$945
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$5,498
• Taxable loss: −$4,735
• Est. tax savings @ 24.0%: +$1,136
• After-tax cash flow: $-334/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Newton

• Score: 77/100
• State rank: #169
• US rank: #3069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IA
• County: Jasper County · 20,595 people
• City population: 20,595
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• Metro: Des Moines-West Des Moines, IA
• 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

+67.3% since first listed

11 events — show timeline

• 2026-05-12 Price Changed $189,000 DMMLS
• 2026-04-28 Relisted — DMMLS
• 2026-04-27 Listing Removed — DMMLS
• 2026-04-24 Price Changed $199,000 DMMLS
• 2025-10-27 Listed $205,000 DMMLS
• 2015-09-14 Listing Removed — DMMLS
• 2015-07-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-04 Listed $122,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-04 Listed $120,000 DMMLS
• 2015-03-04 Listed $122,500 IAR
• 2007-12-26 Sold (Public Records) $113,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,276 · +0.7% YoY. Source: county tax records.