920 Elm Ave · Story City, IA 50248

$85,000

2 bd · 2.0 ba · 1,228 sqft · SingleFamily public records · 434 Days on market

Built 1870 7,755 sqft lot $69/sqft · 63% below area ↓ 26% 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).

• Cash flow +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +7.0/10.0
• 1% rule +6.4/10.0
• 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

2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

Key facts

• 7,755 sq ft lot
• Built 1870
• Listed 434 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($968 rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 1.6% in Story City — 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 81/100 on livability (#72 in IA, #1,575 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Roland-Story Community School District (town): math 79% / reading 84% proficiency, ranked #20 of 289 in IA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 61 active listings in the ZIP; 196 units permitted in Story County in 2024 (34 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Story County population projected at +54% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 434 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 434 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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 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?
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: 1.14% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• GRM: 7.3

CMA / ARV

• ARV (median comp): $226,722
• List price: $85,000
• Delta: -62.51%
• 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
803 Elm Ave	0.18mi	3/2.0 (+1)	1,215 (-1%)	11mo	$192,000	$158	76
522 Story St #107	0.31mi	2/2.0	1,134 (-8%)	4mo	$115,000	$101	70
854 Lafayette Ave	0.12mi	3/1.0 (+1)	1,332 (+8%)	5mo	$193,000	$145	67
903 4th St	0.53mi	3/1.5 (+1)	1,230 (+0%)	3mo	$199,000	$162	66
916 Elm Ave	0.01mi	3/1.0 (+1)	1,096 (-11%)	13mo	$183,700	$168	62
617 Oak St	0.06mi	2/1.0	1,050 (-14%)	13mo	$100,000	$95	58
424 Lafayette Ave	0.46mi	2/1.0	1,303 (+6%)	15mo	$174,000	$134	52
507 Park Ave	0.46mi	3/1.0 (+1)	1,111 (-10%)	7mo	$203,500	$183	48
924 Broad St	0.42mi	3/1.0 (+1)	1,130 (-8%)	12mo	$151,000	$134	48
928 Washington St	0.51mi	3/1.5 (+1)	1,128 (-8%)	11mo	$220,000	$195	47
825 Cedar St	0.63mi	3/1.5 (+1)	1,112 (-9%)	13mo	$214,000	$192	37
218 Pennsylvania Ave	0.68mi	3/1.0 (+1)	1,088 (-11%)	12mo	$154,900	$142	31

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-4,687
• Equity at exit: $12,674

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $7,718
• Equity at exit: $7,349

Cash invested: $23,800 (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 50248

• Home prices YoY: -20.6%
• Active inventory: 61
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $968 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$141 /mo · $1,694/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $142

Break-even live

Break-even rent $788

Max offer price $85,000

Occupancy floor 80%

Sensitivity live

Price	-10% $190	-5% $166	+0% $142	+5% $118	+10% $94
Rent	-10% $66	-5% $104	+0% $142	+5% $180	+10% $219
Rate	-1.0pp $185	-0.5pp $164	base $142	+0.5pp $120	+1.0pp $98

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-05
   statusdays on market $85,000 Pending 434 DOM
2. 2026-06-03
   days on market $85,000 Active 433 DOM
3. 2026-06-02
   days on market $85,000 Active 432 DOM
4. 2026-06-01
   days on market $85,000 Active 431 DOM
5. 2026-05-31
   days on market $85,000 Active 430 DOM
6. 2026-05-30
   days on market $85,000 Active 429 DOM
7. 2026-04-01
   status Active 137-char remark

   Show marketing remark (137 chars)

   2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

8. 2026-04-01
   price $85,000 137-char remark

   Show marketing remark (137 chars)

   2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

9. 2026-04-01
   historical 137-char remark

   Show marketing remark (137 chars)

   2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

10. 2026-02-28
    status Active 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

11. 2026-02-23
    status Pending 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

12. 2026-02-19
    price $95,000 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

13. 2025-09-09
    status Active 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

14. 2025-09-09
    price $105,000 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

15. 2025-09-01
    historical 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

16. 2025-07-08
    price $110,000 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

17. 2025-03-15
    listed $115,000 Active 137-char remark

    Show marketing remark (137 chars)

    2 bedroom house in Story City. 24 hour notice for any showings. Great opportunity for an investment or a home to build some sweat equity.

ⓘ 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: $1,694 · $141/mo
• Projected year-2 tax: $1,694 · $141/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 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: $11,612
• − Mortgage interest: −$4,761
• − Property taxes: −$1,694
• − Insurance: −$425
• − Repairs & maintenance: −$929
• − Management: −$929
• − Depreciation: −$2,473
• Taxable income: $401
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $1,609/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: Roland-Story Community School District
• NCES district ID: 1924870
• Math proficiency: 79% ▬ 0.00%
• Reading proficiency: 84% ▼ -1.00%
• Median HH income: $59,770
• Composite: 69.82/100
• National rank: #289
• State rank: #20 of 289 in IA

Livability — Story City

• Score: 81/100
• State rank: #72
• US rank: #1575

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: Story City, IA
• Population (ZIP): 4,300

Population outlook (Story County) Hauer SSP2

• Today (2025): 115,493 people
• By 2030: 126,820 · +9.8%
• By 2040: 150,771 · +30.5%
• By 2050: 177,915 · +54.0%
• By 2075: 255,370 · +121.1%
• By 2100: 316,429 · +174.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Portuguese 25% Iranian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Story

• 2024 margin: D (+10.4) · D 54.4% · R 44.0% · Other 1.6%
• 2008→2024 swing: -5.8pp toward R · 2008: 16.2pp · 2024: 10.4pp
• All cycles: 2024: D+10.4 2020: D+17.3 2016: D+12.2 2012: D+13.7 2008: D+16.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.22%
• Current HPI: 204.7076
• 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

-26.1% since first listed

11 events — show timeline

• 2026-04-01 Relisted — CIBOR
• 2026-04-01 Price Changed $85,000 CIBOR
• 2026-04-01 Delisted — CIBOR
• 2026-02-28 Relisted — CIBOR
• 2026-02-23 Pending — CIBOR
• 2026-02-19 Price Changed $95,000 CIBOR
• 2025-09-09 Relisted — CIBOR
• 2025-09-09 Price Changed $105,000 CIBOR
• 2025-09-01 Delisted — CIBOR
• 2025-07-08 Price Changed $110,000 CIBOR
• 2025-03-15 Listed $115,000 CIBOR

Property tax history

+4.8%/yr

Latest (2025): $1,694 · +3.3% YoY. Source: county tax records.