220 E Division St · Audubon, IA 50025

$225,000

None bd · 2.5 ba · 1,820 sqft · MultiFamily public records · 24 Days on market

Built 1962 5,350 sqft lot

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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).

• Cash flow +11.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

North Unit - 2 Bedroom, 1 Bath w/tub/shower. Oak floors. Newer bath. New furnace in 2004 Tappen hi-eff. West garage stall. South Unit- 2 Bedroom, 1 Bath w/shower. Oak floors, Newer bath. Washer & Dryer hook-up off the kitchen. East garage stall.

Key facts

• Lower-level storage
• Turn-key business
• Short-term rental

Tags

• FULLY FURNISHED
• SHORT-TERM RENTAL
• PROVEN INCOME HISTORY
• TURN-KEY BUSINESS
• LONG-TERM RENTALS
• LOWER-LEVEL STORAGE

Property features AI

Finance

• Financial info: Annual tax noted

Exterior

• Parking: Attached garage with 2 spaces; Concrete parking; Garage door opener; Garage offers storage; Basement access to parking
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Duplex residential income property; Single-story
• Construction: Frame construction with HardiPlank siding
• Exterior features: Metal roof; Lot roughly 107 x 50; Zoned for multi-family residential

Interior

• Heating & cooling: Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative. Per door: $-47/mo.
• To cash-flow at today's rent, offer at most $209k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (21.8% below list).
• Recommended offer: $176k (21.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#95 in IA, #1,992 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Audubon Community School District (rural): math 73% / reading 80% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 26 active listings in the ZIP; 4 units permitted in Audubon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Audubon County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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.
• Current owner paid $159k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $175,900 (21.8% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.78% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.85×
• Total profit: $116,575
• Equity at exit: $202,698

10-year hold

• IRR: 20.5%
• Equity multiple: 6.52×
• Total profit: $347,936
• Equity at exit: $437,126

Cash invested: $63,000 (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 50025

• Home prices YoY: 5.4%
• Active inventory: 26
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $1,759 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$209 /mo · $2,512/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-93

Break-even live

Break-even rent $1,877

Max offer price $208,501

Occupancy floor —

Sensitivity live

Price	-10% $34	-5% $-30	+0% $-93	+5% $-157	+10% $-221
Rent	-10% $-232	-5% $-163	+0% $-93	+5% $-24	+10% $46
Rate	-1.0pp $20	-0.5pp $-36	base $-93	+0.5pp $-152	+1.0pp $-211

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,758
Total (2 units)			$1,759

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $225,000 Active 24 DOM
2. 2026-06-18
   days on market $225,000 Active 22 DOM
3. 2026-06-17
   days on market $225,000 Active 21 DOM
4. 2026-06-16
   days on market $225,000 Active 20 DOM
5. 2026-06-15
   days on market $225,000 Active 19 DOM
6. 2026-06-13
   days on market $225,000 Active 17 DOM
7. 2026-06-12
   days on market $225,000 Active 16 DOM
8. 2026-06-09
   days on market $225,000 Active 13 DOM
9. 2026-06-08
   days on market $225,000 Active 12 DOM
10. 2026-06-07
    days on market $225,000 Active 11 DOM
11. 2026-06-05
    days on market $225,000 Active 9 DOM
12. 2026-06-04
    days on market $225,000 Active 7 DOM
13. 2026-06-02
    days on market $225,000 Active 6 DOM
14. 2026-06-01
    days on market $225,000 Active 5 DOM
15. 2026-05-31
    days on market $225,000 Active 4 DOM
16. 2026-05-31
    days on market $225,000 Active 3 DOM
17. 2026-05-27
    listed $225,000 Active
18. 2023-05-19
    soldstatus $159,000
19. 2012-04-02
    soldstatus $50,000 252-char remark

    Show marketing remark (252 chars)

    North Unit - 2 Bedroom, 1 Bath w/tub/shower. Oak floors. Newer bath. New furnace in 2004 Tappen hi-eff. West garage stall. South Unit- 2 Bedroom, 1 Bath w/shower. Oak floors, Newer bath. Washer & Dryer hook-up off the kitchen. East garage stall.

20. 2011-04-21
    listed $57,000 252-char remark

    Show marketing remark (252 chars)

    North Unit - 2 Bedroom, 1 Bath w/tub/shower. Oak floors. Newer bath. New furnace in 2004 Tappen hi-eff. West garage stall. South Unit- 2 Bedroom, 1 Bath w/shower. Oak floors, Newer bath. Washer & Dryer hook-up off the kitchen. East garage stall.

ⓘ 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: $2,512 · $209/mo
• Projected year-2 tax: $3,022 · $252/mo
• Expected delta: +$510/yr (+$43/mo · 20.3%)

ⓘ 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 1/10 Low
• 🌡 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: $21,108
• − Mortgage interest: −$12,603
• − Property taxes: −$2,512
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − Depreciation: −$6,545
• Taxable loss: −$5,055
• Est. tax savings @ 24.0%: +$1,213
• After-tax cash flow: $92/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: Audubon Community School District
• NCES district ID: 1903960
• Math proficiency: 73% ▲ 4.00%
• Reading proficiency: 80% ▲ 7.00%
• Median HH income: $45,632
• Composite: 64.32/100
• National rank: #552
• State rank: #64 of 289 in IA

Livability — Audubon

• Score: 79/100
• State rank: #95
• US rank: #1992

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: Audubon, IA
• Population (ZIP): 2,893

Population outlook (Audubon County) Hauer SSP2

• Today (2025): 5,157 people
• By 2030: 4,837 · -6.2%
• By 2040: 4,241 · -17.8%
• By 2050: 3,679 · -28.7%
• By 2075: 2,917 · -43.4%
• By 2100: 2,408 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Portuguese 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Audubon

• 2024 margin: Solid R (+38.4) · D 29.9% · R 68.3% · Other 1.7%
• 2008→2024 swing: -41.5pp toward R · 2008: 3.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+35.8 2016: R+31.2 2012: R+5.6 2008: D+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.14%
• Current HPI: 217.58
• 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

+294.7% since first listed

4 events — show timeline

• 2026-05-27 Listed $225,000 IAR
• 2023-05-19 Sold (Public Records) $159,000 Public Records
• 2012-04-02 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-21 Listed $57,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $2,512 · -3.9% YoY. Source: county tax records.