102 W Madison St · New London, IA 52645

$95,000

2 bd · 2.5 ba · 1,405 sqft · SingleFamily public records · 25 Days on market

Built 1949 6,480 sqft lot Est $153k · 38% under

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.5/10.0
• Appreciation +6.2/10.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Property is currently being used as a rental property and is being sold AS-IS. As a rental, there is the potential to generate additional income by renting the garage for storage. As a first time buyer's home or you are looking for the New London area, this could be a great option.

Key facts

• 6,480 sq ft lot
• 2 garage spots
• Built 1949

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Vinyl siding; 784 sq ft foundation area
• Exterior features: Lot approximately 54 x 120

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#188 in IA, #3,417 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• New London Community School District (rural): math 63% / reading 68% proficiency, ranked #194 of 289 in IA (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 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 $3k of equity ($657 loan paydown + $2k appreciation (2.5% 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 (2.5% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $153,145
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 E Mckinley St	0.43mi	3/1.5 (+1)	1,408 (+0%)	5mo	$36,000	$26	66
305 N Pine St	0.19mi	3/1.5 (+1)	1,284 (-9%)	8mo	$139,500	$109	61
102 Orchard Ln. Ln	0.46mi	3/2.0 (+1)	1,448 (+3%)	8mo	$170,000	$117	60
200 S Oak St. St	0.35mi	3/1.0 (+1)	1,409 (+0%)	15mo	$110,000	$78	60
202 N Pine St	0.19mi	2/1.5	1,604 (+14%)	10mo	$195,000	$122	55
409 S Chestnut St	0.56mi	2/1.5	1,565 (+11%)	4mo	$126,500	$81	48
106 E Wilson St	0.33mi	3/2.0 (+1)	1,560 (+11%)	14mo	$116,000	$74	47
307 Cottonwood St	0.57mi	2/1.0	1,512 (+8%)	14mo	$195,000	$129	43
105 Kennedy St St	0.72mi	3/1.5 (+1)	1,288 (-8%)	10mo	$190,000	$148	36

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

Projected returns pro-forma

2.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.84×
• Total profit: $22,422
• Equity at exit: $39,863

10-year hold

• IRR: 17.3%
• Equity multiple: 3.41×
• Total profit: $64,131
• Equity at exit: $59,302

Cash invested: $26,600 (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 52645

• Home prices YoY: 1.3%
• Active inventory: 14
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $214

Break-even live

Break-even rent $819

Max offer price $95,000

Occupancy floor 75%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $95,000 Active 25 DOM
2. 2026-06-17
   days on market $95,000 Active 24 DOM
3. 2026-06-16
   days on market $95,000 Active 23 DOM
4. 2026-06-15
   days on market $95,000 Active 22 DOM
5. 2026-06-13
   days on market $95,000 Active 20 DOM
6. 2026-06-12
   days on market $95,000 Active 19 DOM
7. 2026-06-09
   days on market $95,000 Active 16 DOM
8. 2026-06-08
   days on market $95,000 Active 15 DOM
9. 2026-06-07
   days on market $95,000 Active 14 DOM
10. 2026-06-05
    days on market $95,000 Active 12 DOM
11. 2026-06-04
    days on market $95,000 Active 10 DOM
12. 2026-06-02
    days on market $95,000 Active 9 DOM
13. 2026-06-01
    days on market $95,000 Active 8 DOM
14. 2026-05-31
    days on market $95,000 Active 7 DOM
15. 2026-05-31
    days on market $95,000 Active 6 DOM
16. 2026-05-23
    listed $95,000 Active
17. 2019-08-13
    listed $73,000
18. 2018-11-05
    listed $77,900
19. 2015-09-10
    listed $61,500
20. 2015-09-10
    listed $61,500

ⓘ 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: $1,312 · $109/mo
• Projected year-2 tax: $1,402 · $117/mo
• Expected delta: +$90/yr (+$7/mo · 6.8%)

ⓘ 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: $13,085
• − Mortgage interest: −$5,321
• − Property taxes: −$1,312
• − Insurance: −$475
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,764
• Taxable income: $1,119
• Est. tax owed @ 24.0%: −$269
• After-tax cash flow: $2,303/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: New London Community School District
• NCES district ID: 1920460
• Math proficiency: 63% ▲ 2.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $46,710
• Composite: 55.31/100
• National rank: #1260
• State rank: #194 of 289 in IA

Livability — New London

• Score: 76/100
• State rank: #188
• US rank: #3417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New London, IA
• Population (ZIP): 3,472

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 5% Iranian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1% Other Indo-European 1%

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: ▲ 2.46%
• Current HPI: 197.8445
• 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

+54.5% since first listed

5 events — show timeline

• 2026-05-23 Listed $95,000 IAR
• 2019-08-13 Listed $73,000 IAR
• 2018-11-05 Listed $77,900 IAR
• 2015-09-10 Listed $61,500 IAR
• 2015-09-10 Listed $61,500 IAR

Property tax history

+1.9%/yr

Latest (2025): $1,312 · +6.1% YoY. Source: county tax records.