600 E Hillcrest Ave #213 · Indianola, IA 50125

$89,000

1 bd · 1.0 ba · 931 sqft · Condo · 127 Days on market

Built 2010 Good condition $1289/mo HOA ↓ 10% since listing

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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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Schools +6.3/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ Cooperative Living in Prime Indianola Location Located close to restaurants, shopping, and healthcare, this 2nd-floor Hickory II floor plan is situated in the Vintage Cooperative of Indianola, an independent 55+ senior living community. This 931 square feet unit features abundant natural light, a spacious open-concept great room, and a kitchen with center island/breakfast bar and new carpet throughout. The primary bedroom includes a large closet and east facing windows. This unit has its own washer/dryer and walk in accessible shower. Community amenities include multiple gathering areas for crafts, puzzles, and social activities; a main-level community room with full kitchen for private events and family gatherings; courtyard garden plots; fitness room; library; guest suites; elevator and stair access; heated lower-level parking stall with storage above; and an on-site car wash bay. Secure building with maintenance-free cooperative living. Monthly HOA fee: $1,289 includes property taxes, maintenance fees, insurance, water, sewer, trash, heat, cable and more. Come visit — you’ll want to stay!

Key facts

• New carpet
• Large closet
• East facing windows

Tags

• PRIME INDIANOLA LOCATION
• OPEN-CONCEPT GREAT ROOM
• KITCHEN WITH CENTER ISLAND
• NEW CARPET
• LARGE CLOSET
• EAST FACING WINDOWS

🏢 Co-op / cooperative unit. The $89,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $89k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-640 ($-8k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate -2.3% vs local median 2.2% in Indianola — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 87/100 on livability (#10 in IA, #332 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Indianola Community School District (town): math 74% / reading 72% proficiency, ranked #83 of 289 in IA (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Emerson Elementary School (math 76% / reading 65%, grade A-, #217 of 616 statewide, top 36%, 435 students, 36% FRL); Indianola Middle School (math 78% / reading 79%, grade A+, #44 of 246 statewide, top 19%, 849 students, 32% FRL); Indianola High School (math 66% / reading 70%, grade B, #184 of 336 statewide, top 55%, 1,120 students, 25% FRL).
• Market conditions: 242 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 81% of rent.

Recommended offer $78,320 (12.0% 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. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.80% ✓
• Cap rate: -2.33%
• Cash-on-cash: -30.80%
• DSCR: -0.37
• GRM: 4.6

CMA / ARV

• ARV (median comp): $135,950
• List price: $89,000
• Delta: -34.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -87.1%
• Equity multiple: -1.18×
• Total profit: $-54,342
• Equity at exit: $13,270

10-year hold

• IRR: —
• Equity multiple: -2.87×
• Total profit: $-96,459
• Equity at exit: $7,695

Cash invested: $24,920 (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 50125

• Home prices YoY: -34.5%
• Active inventory: 242
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,601 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$1,289
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-640

Break-even live

Break-even rent $2,410

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-578	-5% $-609	+0% $-640	+5% $-670	+10% $-701
Rent	-10% $-766	-5% $-703	+0% $-640	+5% $-576	+10% $-513
Rate	-1.0pp $-595	-0.5pp $-617	base $-640	+0.5pp $-663	+1.0pp $-686

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1603 N 9th St Indianola, IA	2.0	1.0	818	$1,300	$1.59	4d	1	0.41mi
1100 N 6th St Unit 8-2 Indianola, IA	2.0	1.0	952	$1,300	$1.37	16d	1	0.74mi
1100 N 6th St #8 Indianola, IA	2.0	1.0	952	$2,600	$2.73	21d	1	0.74mi
205 W Boston Ave Apt 1 Indianola, IA	1.0	1.0	600	$990	$1.65	4d	1	1.40mi

HOA detail condo

• Monthly dues: $1,289 · $15,468/yr
• Likely covers: watersewertrashcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $89,000 Active 127 DOM
2. 2026-06-18
   days on market $89,000 Active 124 DOM
3. 2026-06-17
   days on market $89,000 Active 123 DOM
4. 2026-06-16
   days on market $89,000 Active 122 DOM
5. 2026-06-15
   days on market $89,000 Active 121 DOM
6. 2026-06-14
   days on market $89,000 Active 119 DOM
7. 2026-06-13
   days on market $89,000 Active 118 DOM
8. 2026-06-10
   days on market $89,000 Active 116 DOM
9. 2026-06-09
   days on market $89,000 Active 115 DOM
10. 2026-06-08
    days on market $89,000 Active 114 DOM
11. 2026-06-07
    days on market $89,000 Active 113 DOM
12. 2026-06-05
    days on market $89,000 Active 110 DOM
13. 2026-06-03
    days on market $89,000 Active 109 DOM
14. 2026-06-02
    days on market $89,000 Active 108 DOM
15. 2026-06-01
    days on market $89,000 Active 107 DOM
16. 2026-05-31
    days on market $89,000 Active 106 DOM
17. 2026-05-31
    days on market $89,000 Active 105 DOM
18. 2026-04-25
    price $89,000 1127-char remark

    Show marketing remark (1127 chars)

    55+ Cooperative Living in Prime Indianola Location Located close to restaurants, shopping, and healthcare, this 2nd-floor Hickory II floor plan is situated in the Vintage Cooperative of Indianola, an independent 55+ senior living community. This 931 square feet unit features abundant natural light, a spacious open-concept great room, and a kitchen with center island/breakfast bar and new carpet throughout. The primary bedroom includes a large closet and east facing windows. This unit has its own washer/dryer and walk in accessible shower. Community amenities include multiple gathering areas for crafts, puzzles, and social activities; a main-level community room with full kitchen for private events and family gatherings; courtyard garden plots; fitness room; library; guest suites; elevator and stair access; heated lower-level parking stall with storage above; and an on-site car wash bay. Secure building with maintenance-free cooperative living. Monthly HOA fee: $1,289 includes property taxes, maintenance fees, insurance, water, sewer, trash, heat, cable and more. Come visit — you’ll want to stay!

19. 2026-02-13
    listed $99,000 Active 1127-char remark

    Show marketing remark (1127 chars)

    55+ Cooperative Living in Prime Indianola Location Located close to restaurants, shopping, and healthcare, this 2nd-floor Hickory II floor plan is situated in the Vintage Cooperative of Indianola, an independent 55+ senior living community. This 931 square feet unit features abundant natural light, a spacious open-concept great room, and a kitchen with center island/breakfast bar and new carpet throughout. The primary bedroom includes a large closet and east facing windows. This unit has its own washer/dryer and walk in accessible shower. Community amenities include multiple gathering areas for crafts, puzzles, and social activities; a main-level community room with full kitchen for private events and family gatherings; courtyard garden plots; fitness room; library; guest suites; elevator and stair access; heated lower-level parking stall with storage above; and an on-site car wash bay. Secure building with maintenance-free cooperative living. Monthly HOA fee: $1,289 includes property taxes, maintenance fees, insurance, water, sewer, trash, heat, cable and more. Come visit — you’ll want to stay!

ⓘ 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 3/10 Moderate 7 d/yr ≥103°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: $19,207
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,537
• − Management: −$1,537
• − HOA: −$15,468
• − Depreciation: −$2,589
• Taxable loss: −$8,689
• Est. tax savings @ 24.0%: +$2,085
• After-tax cash flow: $-5,590/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 2nd-floor Hickory II floor plan in the Vintage Cooperative of Indianola is in good condition with minimal repairs needed. It offers a spacious open-concept great room, a kitchen with center island, and a bathroom with a shower/tub combo. The home is move-in ready with a good curb appeal and community amenities nearby.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and value.
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring can increase both resale and rental value.
• Both Install smart home devices — Smart home devices can enhance convenience and appeal to potential buyers/renters.
• Both Landscaping and curb appeal — A well-maintained exterior can attract more interest and increase value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and value. ↑
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring can increase both resale and rental value. ↑
• Both Install smart home devices — Smart home devices can enhance convenience and appeal to potential buyers/renters. ↑
• Both Landscaping and curb appeal — A well-maintained exterior can attract more interest and increase value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Indianola Community School District
• NCES district ID: 1914640
• Math proficiency: 74% ▼ -3.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $59,896
• Composite: 62.81/100
• National rank: #666
• State rank: #83 of 289 in IA

Livability — Indianola

• Score: 87/100
• State rank: #10
• US rank: #332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indianola, IA
• Population (ZIP): 20,009

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Iranian 4% Portuguese 3% Italian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Vietnamese 1%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.04%
• Current HPI: 202.9852
• 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

-10.1% since first listed

2 events — show timeline

• 2026-04-25 Price Changed $89,000 DMMLS
• 2026-02-13 Listed $99,000 DMMLS