1119 Garst Ave · Boone, IA 50036

$79,900

1 bd · 1.0 ba · 648 sqft · SingleFamily public records · 114 Days on market

Built 1920 7,668 sqft lot $123/sqft · 32% below area Est $117k · 32% under ↓ 16% since listing

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Why this score? — see what drove the C- 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 +14.0/30.0
• Schools +5.2/10.0
• 1% rule +4.2/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy and well-maintained 1 bedroom, 1 bathroom home offers comfort, convenience, and room to grow. Perfect for a first-time buyer, downsizer, or anyone looking for a peaceful place to call home.

Key facts

• 7,668 sq ft lot
• Built 1920
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $10 ($118/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $73k (8.4% below list).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.7% in Boone — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklin Elementary School (math 75% / reading 69%, grade A-, #181 of 616 statewide, top 34%, 357 students, 41% FRL); Boone Middle School (math 48% / reading 63%, grade B-, #199 of 246 statewide, top 81%, 582 students, 39% FRL); Boone High School (math 60% / reading 69%, grade B-, #211 of 336 statewide, top 70%, 711 students, 36% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 216 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.92% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

• ARV (median comp): $116,993
• List price: $79,900
• Delta: -31.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 Aldrich Ave	0.12mi	2/1.0 (+1)	688 (+6%)	23mo	$88,500	$129	60
515 Clinton St	0.53mi	2/1.0 (+1)	725 (+12%)	23mo	$138,000	$190	32

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

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-12,301
• Equity at exit: $11,913

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-9,822
• Equity at exit: $6,908

Cash invested: $22,372 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 216
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $732 high
• Mortgage (P&I): −$419
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$154
• Net cashflow: $10

Break-even live

Break-even rent $719

Max offer price $79,900

Occupancy floor 94%

Sensitivity live

Price	-10% $55	-5% $32	+0% $10	+5% $-13	+10% $-35
Rent	-10% $-48	-5% $-19	+0% $10	+5% $39	+10% $68
Rate	-1.0pp $50	-0.5pp $30	base $10	+0.5pp $-11	+1.0pp $-32

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 Boone St Unit 1 Boone, IA	1.0	1.0	478	$585	$1.22	45d	1	0.54mi
1104 8th St Boone, IA	1.0	1.0	600	$647	$1.08	15d	3	0.58mi
1202 8th St Unit 3 Boone, IA	2.0	1.0	620	$825	$1.33	45d	1	0.60mi
608 Greene St Unit 735-5 Boone, IA	1.0	1.5	580	$775	$1.34	45d	1	0.61mi
724 7th St Unit 2 Boone, IA	2.0	1.0	700	$825	$1.18	45d	1	0.61mi
610 Greene St Unit 1 Boone, IA	1.0	1.0	580	$775	$1.34	45d	1	0.61mi
505 1/2 11th St Boone, IA	1.0	1.0	495	$625	$1.26	45d	1	0.99mi

Listing history 20 events

1. 2026-06-21
   days on market $79,900 Active 114 DOM
2. 2026-06-21
   days on market $79,900 Active 113 DOM
3. 2026-06-18
   days on market $79,900 Active 111 DOM
4. 2026-06-17
   days on market $79,900 Active 110 DOM
5. 2026-06-16
   days on market $79,900 Active 109 DOM
6. 2026-06-15
   days on market $79,900 Active 108 DOM
7. 2026-06-13
   days on market $79,900 Active 106 DOM
8. 2026-06-12
   days on market $79,900 Active 105 DOM
9. 2026-06-09
   days on market $79,900 Active 102 DOM
10. 2026-06-08
    days on market $79,900 Active 101 DOM
11. 2026-06-07
    days on market $79,900 Active 100 DOM
12. 2026-06-05
    days on market $79,900 Active 98 DOM
13. 2026-06-04
    days on market $79,900 Active 96 DOM
14. 2026-06-02
    days on market $79,900 Active 95 DOM
15. 2026-06-01
    days on market $79,900 Active 94 DOM
16. 2026-05-31
    days on market $79,900 Active 93 DOM
17. 2026-05-31
    days on market $79,900 Active 92 DOM
18. 2026-05-05
    price $79,900 199-char remark

    Show marketing remark (199 chars)

    This cozy and well-maintained 1 bedroom, 1 bathroom home offers comfort, convenience, and room to grow. Perfect for a first-time buyer, downsizer, or anyone looking for a peaceful place to call home.

19. 2026-04-03
    price $89,000 199-char remark

    Show marketing remark (199 chars)

    This cozy and well-maintained 1 bedroom, 1 bathroom home offers comfort, convenience, and room to grow. Perfect for a first-time buyer, downsizer, or anyone looking for a peaceful place to call home.

20. 2026-02-27
    listed $95,000 Active 199-char remark

    Show marketing remark (199 chars)

    This cozy and well-maintained 1 bedroom, 1 bathroom home offers comfort, convenience, and room to grow. Perfect for a first-time buyer, downsizer, or anyone looking for a peaceful place to call home.

ⓘ 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: $1,392 · $116/mo
• Projected year-2 tax: $1,392 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 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: $8,781
• − Mortgage interest: −$4,476
• − Property taxes: −$1,392
• − Insurance: −$400
• − Repairs & maintenance: −$703
• − Management: −$703
• − Depreciation: −$2,324
• Taxable loss: −$1,215
• Est. tax savings @ 24.0%: +$292
• After-tax cash flow: $409/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: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

Amenities F 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: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• 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

-15.9% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $79,900 CIBOR
• 2026-04-03 Price Changed $89,000 CIBOR
• 2026-02-27 Listed $95,000 CIBOR

Property tax history

+5.4%/yr

Latest (2025): $1,392 · +3.9% YoY. Source: county tax records.