326 1st St NW · Britt, IA 50423

$67,500

2 bd · 1.5 ba · 975 sqft · SingleFamily public records · 58 Days on market

Built 1875 8,276 sqft lot $69/sqft · 29% below area Est $95k · 29% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• Schools +6.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Corner Lot with Triple Garage. . This 2 bedroom home has all the appliances included, large upper bedroom, main level laundry and cozy front porch. Full basement includes shower, toilet & sink, water softener and 100amp breaker box. House needs a little TLC and is being sold in "AS IS" condition.

Key facts

• 8,276 sq ft lot
• 3 garage spots
• Built 1875

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $68k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#121 in IA, #2,262 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Hancock Community School District (rural): math 76% / reading 74% proficiency, ranked #77 of 289 in IA (top 27%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 22 active listings in the ZIP; 11 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($467 loan paydown + $7k appreciation (10.0% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $34k; list at $68k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,475 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1875 — 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: 1.36% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.50%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (median comp): $94,678
• List price: $67,500
• Delta: -28.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326 1st St NW	0.00mi	2/1.0	975 (0%)	0mo	$60,000	$62	98
358 2nd St NW	0.06mi	2/1.0	828 (-15%)	9mo	$69,000	$83	63
660 2nd St SW	0.28mi	3/1.0 (+1)	1,008 (+3%)	17mo	$97,000	$96	60
364 4th St SW	0.32mi	3/1.0 (+1)	880 (-10%)	6mo	$50,000	$57	56
465 2nd Ave SW	0.38mi	2/2.0	832 (-15%)	9mo	$170,000	$204	48
114 5th St SE	0.47mi	2/1.0	1,088 (+12%)	17mo	$95,000	$87	43
619 Main Ave S	0.52mi	2/1.0	1,116 (+14%)	9mo	$75,000	$67	42
830 5th Ave SW	0.60mi	3/1.0 (+1)	1,092 (+12%)	5mo	$160,000	$147	41
325 & 355 Diagonal St NE	0.43mi	2/1.5	840 (-14%)	19mo	$105,000	$125	41
585 6th Ave SE	0.74mi	2/1.0	911 (-7%)	16mo	$129,000	$142	39
416 6th St SW	0.44mi	2/2.0	1,120 (+15%)	17mo	$133,000	$119	38
545 1st St SE	0.57mi	3/1.5 (+1)	880 (-10%)	20mo	$42,000	$48	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 36.5%
• Equity multiple: 3.82×
• Total profit: $53,326
• Equity at exit: $60,809

10-year hold

• IRR: 31.4%
• Equity multiple: 8.62×
• Total profit: $144,049
• Equity at exit: $131,138

Cash invested: $18,900 (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 50423

• Home prices YoY: 8.2%
• Active inventory: 22
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $919 medium
• Mortgage (P&I): −$354
• Tax est. 1.5%: −$84 /mo · $1,012/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $260

Break-even live

Break-even rent $590

Max offer price $67,500

Occupancy floor 67%

Sensitivity live

Price	-10% $306	-5% $283	+0% $260	+5% $237	+10% $213
Rent	-10% $187	-5% $224	+0% $260	+5% $296	+10% $332
Rate	-1.0pp $294	-0.5pp $277	base $260	+0.5pp $242	+1.0pp $225

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-07
   statusdays on market $67,500 Pending 58 DOM
2. 2026-06-04
   days on market $67,500 Active Under Contract 57 DOM
3. 2026-06-02
   days on market $67,500 Active Under Contract 56 DOM
4. 2026-06-01
   days on market $67,500 Active Under Contract 55 DOM
5. 2026-05-31
   days on market $67,500 Active Under Contract 54 DOM
6. 2026-05-31
   days on market $67,500 Active Under Contract 53 DOM
7. 2026-05-13
   historical Active Under Contract 313-char remark

   Show marketing remark (313 chars)

   Corner Lot with Triple Garage. . This 2 bedroom home has all the appliances included, large upper bedroom, main level laundry and cozy front porch. Full basement includes shower, toilet & sink, water softener and 100amp breaker box. House needs a little TLC and is being sold in "AS IS" condition.

8. 2026-04-20
   status Active 313-char remark

   Show marketing remark (313 chars)

   Corner Lot with Triple Garage. . This 2 bedroom home has all the appliances included, large upper bedroom, main level laundry and cozy front porch. Full basement includes shower, toilet & sink, water softener and 100amp breaker box. House needs a little TLC and is being sold in "AS IS" condition.

9. 2026-04-08
   historical Active Under Contract 313-char remark

   Show marketing remark (313 chars)

   Corner Lot with Triple Garage. . This 2 bedroom home has all the appliances included, large upper bedroom, main level laundry and cozy front porch. Full basement includes shower, toilet & sink, water softener and 100amp breaker box. House needs a little TLC and is being sold in "AS IS" condition.

10. 2026-04-07
    listed $67,500 Active 313-char remark

    Show marketing remark (313 chars)

    Corner Lot with Triple Garage. . This 2 bedroom home has all the appliances included, large upper bedroom, main level laundry and cozy front porch. Full basement includes shower, toilet & sink, water softener and 100amp breaker box. House needs a little TLC and is being sold in "AS IS" condition.

11. 2016-08-29
    soldstatus $34,500 97-char remark

    Show marketing remark (97 chars)

    2 bdrm, 1 bath home on corner lot. Triple Garage for that car enthusiast or extra workshop space!

12. 2016-07-15
    listed $37,000 97-char remark

    Show marketing remark (97 chars)

    2 bdrm, 1 bath home on corner lot. Triple Garage for that car enthusiast or extra workshop space!

13. 2008-01-09
    soldstatus $44,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 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: $11,033
• − Mortgage interest: −$3,781
• − Property taxes: −$1,012
• − Insurance: −$338
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$1,964
• Taxable income: $2,173
• Est. tax owed @ 24.0%: −$521
• After-tax cash flow: $2,597/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: West Hancock Community School District
• NCES district ID: 1905430
• Math proficiency: 76% ▼ -5.00%
• Reading proficiency: 74% ▼ -1.00%
• Median HH income: $46,779
• Composite: 63.22/100
• National rank: #634
• State rank: #77 of 289 in IA

Livability — Britt

• Score: 79/100
• State rank: #121
• US rank: #2262

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: Britt, IA
• Population (ZIP): 2,401

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 10,462 people
• By 2030: 10,154 · -2.9%
• By 2040: 9,552 · -8.7%
• By 2050: 9,034 · -13.6%
• By 2075: 8,233 · -21.3%
• By 2100: 7,050 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 11% Iranian 6% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.6pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.9 2016: R+41.1 2012: R+13.6 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.61%
• Current HPI: 245.6369
• 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

+53.4% since first listed

7 events — show timeline

• 2026-05-13 Contingent — IAR
• 2026-04-20 Relisted — IAR
• 2026-04-08 Contingent — IAR
• 2026-04-07 Listed $67,500 IAR
• 2016-08-29 Sold (MLS) $34,500 IAR
• 2016-07-15 Listed $37,000 IAR
• 2008-01-09 Sold (Public Records) $44,000 Public Records

Property tax history

-9.3%/yr

Latest (2025): $122 · -44.5% YoY. Source: county tax records.