305 Park St · Reinbeck, IA 50669

$90,000

2 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 136 Days on market

Built 1900 8,276 sqft lot $72/sqft · 39% below area Est $147k · 39% under ↓ 6% since listing

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Why this score? — see what drove the A 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.5/10.0
• Schools +6.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 305 Park St in Reinbeck — a 2-bedroom, 1.5-bath home offering 1,248 square feet of living space and a functional layout that gives the next owner a great opportunity to make it their own. The main level includes a living room, dining area, kitchen, and half bath, creating a practical flow for everyday living. Upstairs, you’ll find two bedrooms and the home’s full bathroom. The unfinished basement provides additional storage space and houses the mechanical systems. Outside, the property features a covered front porch and a detached garage, adding both convenience and usability. Located on Park Street, this home is close to local amenities and downtown Reinbeck. This property is move-in ready and ideal for a buyer looking to add personal touches over time.

Key facts

• Covered front porch
• Downtown reinbeck
• Local amenities

Tags

• COVERED FRONT PORCH
• DETACHED GARAGE
• LOCAL AMENITIES
• DOWNTOWN REINBECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#382 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Gladbrook-Reinbeck Community School District (rural): math 76% / reading 74% proficiency, ranked #71 of 289 in IA (top 25%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 14 active listings in the ZIP; 14 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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 1900 — 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: 1.25% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.76%
• DSCR: 1.66
• GRM: 6.7

CMA / ARV

• ARV (median comp): $147,100
• List price: $90,000
• Delta: -38.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 West St	0.22mi	3/1.0 (+1)	1,232 (-1%)	1mo	$120,000	$97	78
301 West St	0.23mi	3/1.0 (+1)	1,248 (0%)	4mo	$108,000	$87	77
122 Randall St	0.16mi	2/1.5	1,206 (-3%)	13mo	$189,900	$157	75
106 Clark St	0.22mi	2/1.5	1,377 (+10%)	2mo	$127,000	$92	68
113 Clark St	0.19mi	3/1.5 (+1)	1,124 (-10%)	3mo	$150,000	$133	65
803 Randall St	0.34mi	3/1.0 (+1)	1,288 (+3%)	11mo	$65,500	$51	61
402 Pine St	0.12mi	1/1.0 (-1)	1,129 (-10%)	19mo	$82,500	$73	53

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: 35.2%
• Equity multiple: 3.73×
• Total profit: $68,755
• Equity at exit: $81,079

10-year hold

• IRR: 30.3%
• Equity multiple: 8.42×
• Total profit: $186,925
• Equity at exit: $174,850

Cash invested: $25,200 (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 50669

• Home prices YoY: 4.9%
• Active inventory: 14
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,127 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$71 /mo · $848/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $310

Break-even live

Break-even rent $734

Max offer price $90,000

Occupancy floor 67%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $90,000 Active 136 DOM
2. 2026-06-18
   days on market $90,000 Active 135 DOM
3. 2026-06-17
   days on market $90,000 Active 134 DOM
4. 2026-06-16
   days on market $90,000 Active 133 DOM
5. 2026-06-15
   days on market $90,000 Active 132 DOM
6. 2026-06-14
   days on market $90,000 Active 130 DOM
7. 2026-06-12
   days on market $90,000 Active 129 DOM
8. 2026-06-09
   days on market $90,000 Active 126 DOM
9. 2026-06-08
   days on market $90,000 Active 125 DOM
10. 2026-06-07
    days on market $90,000 Active 124 DOM
11. 2026-06-05
    days on market $90,000 Active 121 DOM
12. 2026-06-03
    days on market $90,000 Active 120 DOM
13. 2026-06-02
    days on market $90,000 Active 119 DOM
14. 2026-06-01
    days on market $90,000 Active 118 DOM
15. 2026-05-31
    days on market $90,000 Active 117 DOM
16. 2026-05-30
    days on market $90,000 Active 116 DOM
17. 2026-03-28
    price $85,000 793-char remark

    Show marketing remark (793 chars)

    Welcome to 305 Park St in Reinbeck — a 2-bedroom, 1.5-bath home offering 1,248 square feet of living space and a functional layout that gives the next owner a great opportunity to make it their own. The main level includes a living room, dining area, kitchen, and half bath, creating a practical flow for everyday living. Upstairs, you’ll find two bedrooms and the home’s full bathroom. The unfinished basement provides additional storage space and houses the mechanical systems. Outside, the property features a covered front porch and a detached garage, adding both convenience and usability. Located on Park Street, this home is close to local amenities and downtown Reinbeck. This property is move-in ready and ideal for a buyer looking to add personal touches over time.

18. 2026-02-03
    listed $90,000 Active 793-char remark

    Show marketing remark (793 chars)

    Welcome to 305 Park St in Reinbeck — a 2-bedroom, 1.5-bath home offering 1,248 square feet of living space and a functional layout that gives the next owner a great opportunity to make it their own. The main level includes a living room, dining area, kitchen, and half bath, creating a practical flow for everyday living. Upstairs, you’ll find two bedrooms and the home’s full bathroom. The unfinished basement provides additional storage space and houses the mechanical systems. Outside, the property features a covered front porch and a detached garage, adding both convenience and usability. Located on Park Street, this home is close to local amenities and downtown Reinbeck. This property is move-in ready and ideal for a buyer looking to add personal touches over time.

19. 2026-02-03
    listed $90,000 Active 793-char remark

    Show marketing remark (793 chars)

    Welcome to 305 Park St in Reinbeck — a 2-bedroom, 1.5-bath home offering 1,248 square feet of living space and a functional layout that gives the next owner a great opportunity to make it their own. The main level includes a living room, dining area, kitchen, and half bath, creating a practical flow for everyday living. Upstairs, you’ll find two bedrooms and the home’s full bathroom. The unfinished basement provides additional storage space and houses the mechanical systems. Outside, the property features a covered front porch and a detached garage, adding both convenience and usability. Located on Park Street, this home is close to local amenities and downtown Reinbeck. This property is move-in ready and ideal for a buyer looking to add personal touches over time.

ⓘ 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: $848 · $71/mo
• Projected year-2 tax: $1,130 · $94/mo
• Expected delta: +$282/yr (+$24/mo · 33.3%)

ⓘ 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 ≥102°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: $13,522
• − Mortgage interest: −$5,041
• − Property taxes: −$848
• − Insurance: −$450
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$2,618
• Taxable income: $2,401
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $3,144/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: Gladbrook-Reinbeck Community School District
• NCES district ID: 1912660
• Math proficiency: 76% ▼ -3.00%
• Reading proficiency: 74% ▲ 9.00%
• Median HH income: $55,866
• Composite: 64.09/100
• National rank: #576
• State rank: #71 of 289 in IA

Livability — Reinbeck

• Score: 70/100
• State rank: #382
• US rank: #8130

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reinbeck, IA
• Population (ZIP): 2,447

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 12,452 · +0.0%
• By 2040: 12,437 · -0.1%
• By 2050: 12,370 · -0.7%
• By 2075: 12,495 · +0.3%
• By 2100: 11,823 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 3% Native American 1%
• Common ancestry: Portuguese 3% Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Grundy

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -16.9pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+37.4 2016: R+39.5 2012: R+23.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.93%
• Current HPI: 257.04
• 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

-5.6% since first listed

3 events — show timeline

• 2026-03-28 Price Changed $85,000 NEIRBR as distributed by MLS GRID
• 2026-02-03 Listed $90,000 CRAAR, CDRMLS
• 2026-02-03 Listed $90,000 NEIRBR as distributed by MLS GRID

Property tax history

+1.9%/yr

Latest (2025): $848 · -4.9% YoY. Source: county tax records.