700 S Vine St

Hartford, IA 50118

$162,000D

3 bd · 1.5 ba · 1,524 sqft · Built 1979 · SingleFamily · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,403/mo
• Mortgage (P&I): −$850
• Tax + insurance: −$403
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $-144/mo
• Annual: $-1,729/yr
• Cap rate: 5.23%
• Cash-on-cash: -3.81%
• DSCR: 0.83
• 1% rule: 0.87%
• Cash to close: $45,360

Investor read

• This is a 3-bed/1.5-bath single-family listed at $162k.
• At list price, monthly cash flow is $-144 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (13.4% below list).
• It's been on market 69 days — a 6% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (15.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#841 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Carlisle Community School District (town): math 64% / reading 65% proficiency, ranked #182 of 289 in IA (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carlisle Elementary School (math 72% / reading 42%, grade C+, #436 of 616 statewide, top 74%, 765 students, 31% FRL); Carlisle Middle School (math 64% / reading 70%, grade A-, #140 of 246 statewide, top 60%, 543 students, 31% FRL); Carlisle High School (math 55% / reading 64%, grade C+, #263 of 336 statewide, top 81%, 743 students, 27% FRL).
• Market conditions: 4 active listings in the ZIP; 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 14y ago; this cycle's ask has dropped $25k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• 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?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.