702 Chicago St · Audubon, IA 50025

$130,000

2 bd · 1.5 ba · 1,184 sqft · SingleFamily public records · 22 Days on market

Built 1966 7,420 sqft lot Est $150k · 14% under

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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 +13.6/15.0
• Cash flow +10.7/30.0
• Appreciation +10.0/10.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

If you are considering downsizing or looking for a solid investment opportunity, this property presents an excellent combination of cozy living and practicality. It features two bedrooms and a full bathroom on the main floor, which has been tastefully updated with a new toilet, a modern tub surround, and new flooring. The walk-out basement includes the laundry room, a three-quarter bathroom, and two additional rooms. The attached one-car tuck-under garage offers convenient access to the home. This property is ready for its next owners to personalize it.

Key facts

• 7,420 sq ft lot
• Garage
• Built 1966

Property features AI

Exterior

• Parking: Garage (1 space) with basement access
• Utilities: Public water; Public sewer; 200+ amp electric service with circuit breakers
• Home design: Single-family residence; Residential property
• Construction: Block, frame, and vinyl siding construction; Metal roof
• Exterior features: No fencing; Lot approximately 70 x 106

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal; Electric water heater
• Flooring: Carpet; Hardwood; Linoleum
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Fireplace in the living room (gas); Basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-62 ($-742/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (21.6% below list).
• Recommended offer: $102k (21.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#95 in IA, #1,992 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Audubon Community School District (rural): math 73% / reading 80% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 24 active listings in the ZIP; 4 units permitted in Audubon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Audubon County population projected at -29% 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $130k implies a 163% gain — meaningful room to come down on a strong offer.

Recommended offer $101,885 (21.6% 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 1966 — 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: 0.78% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $150,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 Tracy St	0.30mi	2/1.0	1,204 (+2%)	0mo	$117,000	$97	81
911 Broadway St	0.15mi	3/2.0 (+1)	1,144 (-3%)	8mo	$165,000	$144	74
206 5th Ave	0.33mi	3/2.0 (+1)	1,152 (-3%)	8mo	$140,000	$122	66
619 Tracy St	0.31mi	3/2.0 (+1)	1,218 (+3%)	11mo	$117,500	$96	65
505 South St	0.17mi	2/2.0	1,320 (+12%)	10mo	$175,000	$133	62
1012 N Division St	0.33mi	3/2.0 (+1)	1,248 (+5%)	9mo	$232,000	$186	61
702 E Division St	0.38mi	2/1.0	1,302 (+10%)	4mo	$95,000	$73	60
313 Mantz Ave	0.49mi	3/2.0 (+1)	1,123 (-5%)	4mo	$175,000	$156	58
510 E Division St	0.27mi	3/2.0 (+1)	1,025 (-13%)	2mo	$165,000	$161	57
303 Pacific Ave	0.70mi	3/1.5 (+1)	1,238 (+5%)	3mo	$154,000	$124	52
500 South St	0.18mi	1/2.5 (-1)	1,008 (-15%)	8mo	$102,000	$101	51
202 Walnut St	0.64mi	2/2.0	1,040 (-12%)	1mo	$132,500	$127	47

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: 22.8%
• Equity multiple: 2.84×
• Total profit: $66,859
• Equity at exit: $117,114

10-year hold

• IRR: 20.4%
• Equity multiple: 6.49×
• Total profit: $199,977
• Equity at exit: $252,561

Cash invested: $36,400 (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 50025

• Home prices YoY: 5.4%
• Active inventory: 24
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,019 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$131 /mo · $1,570/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $-62

Break-even live

Break-even rent $1,097

Max offer price $119,075

Occupancy floor —

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $130,000 Active 22 DOM
2. 2026-06-17
   days on market $130,000 Active 21 DOM
3. 2026-06-16
   days on market $130,000 Active 20 DOM
4. 2026-06-15
   days on market $130,000 Active 19 DOM
5. 2026-06-13
   days on market $130,000 Active 17 DOM
6. 2026-06-12
   days on market $130,000 Active 16 DOM
7. 2026-06-09
   days on market $130,000 Active 13 DOM
8. 2026-06-08
   days on market $130,000 Active 12 DOM
9. 2026-06-07
   days on market $130,000 Active 11 DOM
10. 2026-06-05
    days on market $130,000 Active 9 DOM
11. 2026-06-04
    days on market $130,000 Active 7 DOM
12. 2026-06-02
    days on market $130,000 Active 6 DOM
13. 2026-06-01
    days on market $130,000 Active 5 DOM
14. 2026-05-31
    days on market $130,000 Active 4 DOM
15. 2026-05-31
    days on market $130,000 Active 3 DOM
16. 2026-05-27
    listed $130,000 Active
17. 2010-03-12
    soldstatus $49,500

ⓘ 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: $1,570 · $131/mo
• Projected year-2 tax: $1,806 · $150/mo
• Expected delta: +$236/yr (+$20/mo · 15.0%)

ⓘ 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 2/10 Low 7 d/yr ≥104°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: $12,226
• − Mortgage interest: −$7,282
• − Property taxes: −$1,570
• − Insurance: −$650
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,782
• Taxable loss: −$3,014
• Est. tax savings @ 24.0%: +$723
• After-tax cash flow: $-19/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: Audubon Community School District
• NCES district ID: 1903960
• Math proficiency: 73% ▲ 4.00%
• Reading proficiency: 80% ▲ 7.00%
• Median HH income: $45,632
• Composite: 64.32/100
• National rank: #552
• State rank: #64 of 289 in IA

Livability — Audubon

• Score: 79/100
• State rank: #95
• US rank: #1992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Audubon, IA
• Population (ZIP): 2,893

Population outlook (Audubon County) Hauer SSP2

• Today (2025): 5,157 people
• By 2030: 4,837 · -6.2%
• By 2040: 4,241 · -17.8%
• By 2050: 3,679 · -28.7%
• By 2075: 2,917 · -43.4%
• By 2100: 2,408 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Portuguese 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Audubon

• 2024 margin: Solid R (+38.4) · D 29.9% · R 68.3% · Other 1.7%
• 2008→2024 swing: -41.5pp toward R · 2008: 3.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+35.8 2016: R+31.2 2012: R+5.6 2008: D+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.14%
• Current HPI: 217.58
• 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

+162.6% since first listed

2 events — show timeline

• 2026-05-27 Listed $130,000 IAR
• 2010-03-12 Sold (Public Records) $49,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,570 · -10.7% YoY. Source: county tax records.