116 East St · Kellogg, IA 50135

$120,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 18 Days on market

Built 1948 8,580 sqft lot Est $151k · 20% under

---

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 +15.0/15.0
• Cash flow +8.8/30.0
• Appreciation +8.7/10.0
• Schools +5.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.2/10.0

Listing remarks

Enjoy a home with a backyard setting that lets you enjoy the countryside. Sellers often sit on the top of playset/gazebo to enjoy the view. There are 3 Northstar cherry trees that make the best Cherry pies. Greenhouse was built with UV resistant plastic. Sellers have updated the kitchen in 2003, the appliances will stay. The A/C was replaced in 2020 and new roof in 2023. Hardwood under carpet. Easy access to I-80 for your commuting needs. Taxes are only $1196 a year, helps with affordable living.

Key facts

• Updated kitchen
• Backyard setting
• Greenhouse

Tags

• BACKYARD SETTING
• NORTHSTAR CHERRY TREES
• GREENHOUSE
• UPDATED KITCHEN
• A/C REPLACED
• NEW ROOF

Property features AI

Exterior

• Parking: Attached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story; Residential zoning
• Construction: Metal siding; Asphalt shingle roof
• Exterior features: Rectangular lot; Concrete road frontage

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Basement (unfinished); Play structure in yard
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (28.3% below list).
• Recommended offer: $86k (28.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#904 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Berg Middle School (math 55% / reading 61%, grade B, #195 of 246 statewide, top 79%, 841 students, 55% FRL); Newton Senior High School (math 60% / reading 62%, grade C+, #258 of 336 statewide, top 78%, 818 students, 47% FRL).
• Market conditions: 19 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($830 loan paydown + $9k appreciation (7.3% local appreciation)).
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,011 (28.3% 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. Built in 1948 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.72% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.55%
• DSCR: 0.84
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $150,592
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10171 Illinois Ave	0.30mi	2/1.0	864 (+4%)	11mo	$130,000	$150	71
506 Reuel Ave	0.59mi	3/2.0 (+1)	836 (+0%)	4mo	$151,000	$181	60
917 Streeter St	0.69mi	3/2.0 (+1)	810 (-3%)	1mo	$248,500	$307	54
524 2nd St	0.43mi	2/1.0	912 (+10%)	22mo	$28,000	$31	46
918 Reuel Ave	0.71mi	3/2.0 (+1)	904 (+9%)	14mo	$204,900	$227	32

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

Projected returns pro-forma

7.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 2.13×
• Total profit: $37,967
• Equity at exit: $85,728

10-year hold

• IRR: 15.4%
• Equity multiple: 4.42×
• Total profit: $114,865
• Equity at exit: $165,227

Cash invested: $33,600 (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 50135

• Home prices YoY: 2.4%
• Active inventory: 19
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $-99

Break-even live

Break-even rent $986

Max offer price $102,428

Occupancy floor —

Sensitivity live

Price	-10% $-32	-5% $-66	+0% $-99	+5% $-133	+10% $-167
Rent	-10% $-167	-5% $-133	+0% $-99	+5% $-65	+10% $-32
Rate	-1.0pp $-39	-0.5pp $-69	base $-99	+0.5pp $-131	+1.0pp $-162

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $120,000 Active 18 DOM
2. 2026-06-18
   days on market $120,000 Active 15 DOM
3. 2026-06-17
   days on market $120,000 Active 14 DOM
4. 2026-06-16
   days on market $120,000 Active 13 DOM
5. 2026-06-15
   days on market $120,000 Active 12 DOM
6. 2026-06-14
   days on market $120,000 Active 10 DOM
7. 2026-06-13
   days on market $120,000 Active 9 DOM
8. 2026-06-10
   days on market $120,000 Active 7 DOM
9. 2026-06-09
   days on market $120,000 Active 6 DOM
10. 2026-06-08
    days on market $120,000 Active 5 DOM
11. 2026-06-07
    days on market $120,000 Active 4 DOM
12. 2026-06-05
    remarks 501-char remark
13. 2026-06-05
    listed $120,000 Active 1 DOM

ⓘ 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: $1,196 · $100/mo
• Projected year-2 tax: $1,540 · $128/mo
• Expected delta: +$344/yr (+$29/mo · 28.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $10,321
• − Mortgage interest: −$6,722
• − Property taxes: −$1,196
• − Insurance: −$600
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$3,491
• Taxable loss: −$3,339
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $-392/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 — Kellogg

• Score: 57/100
• State rank: #904
• US rank: #21560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kellogg, IA
• Population (ZIP): 1,777

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 (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Iranian 6% Portuguese 5% Slovak 4%
• Foreign-born: 1% · Canada

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: ▲ 7.33%
• Current HPI: 312.7639
• 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

1 event — show timeline

• 2026-06-03 Listed $120,000 DMMLS

Property tax history

+4.3%/yr

Latest (2025): $1,196 · -0.5% YoY. Source: county tax records.