613 Tracy St · Audubon, IA 50025

$117,000

2 bd · 1.0 ba · 1,204 sqft · SingleFamily public records · 77 Days on market

Built 1920 7,841 sqft lot Est $160k · 27% 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).

• Cash flow +15.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.4/10.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming and affordable 2-bed, 1-bath 1.5-story home in a prime Audubon location! Situated directly across from the elementary school and just two blocks from Main Street, this home offers both convenience and character. Inside, you’ll find beautiful original woodworking and hardwood floors that add timeless appeal. The walk-up attic is unfinished (hardwood floors already in place) and offers exciting potential for an additional bedroom, office, or expanded storage. The full basement is also unfinished but provides ample storage and the opportunity to create even more living space. Enjoy a welcoming front porch and a back deck, perfect for relaxing or entertaining. A spacious 24x24 de

Key facts

• Original woodworking
• Front porch
• Full basement

Tags

• PRIME AUDUBON LOCATION
• ORIGINAL WOODWORKING
• HARDWOOD FLOORS
• WALK-UP ATTIC
• FULL BASEMENT
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $44 ($531/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 $104k (11.2% below list).
• Recommended offer: $104k (11.2% 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: 26 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 $13k of equity ($809 loan paydown + $12k 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 $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $103,949 (11.2% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 11% 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: 0.89% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $160,132
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 Tracy St	0.00mi	2/1.0	1,204 (0%)	1mo	$117,000	$97	100
619 Tracy St	0.03mi	3/2.0 (+1)	1,218 (+1%)	11mo	$117,500	$96	79
702 E Division St	0.19mi	2/1.0	1,302 (+8%)	4mo	$95,000	$73	74
313 Mantz Ave	0.23mi	3/2.0 (+1)	1,123 (-7%)	4mo	$175,000	$156	66
505 South St	0.13mi	2/2.0	1,320 (+10%)	10mo	$175,000	$133	65
303 Pacific Ave	0.53mi	3/1.5 (+1)	1,238 (+3%)	3mo	$154,000	$124	61
510 E Division St	0.12mi	3/2.0 (+1)	1,025 (-15%)	2mo	$165,000	$161	60
911 Broadway St	0.45mi	3/2.0 (+1)	1,144 (-5%)	8mo	$165,000	$144	55
1111 Broadway St	0.61mi	3/2.0 (+1)	1,188 (-1%)	12mo	$165,000	$139	51
206 5th Ave	0.62mi	3/2.0 (+1)	1,152 (-4%)	8mo	$140,000	$122	48
1012 N Division St	0.63mi	3/2.0 (+1)	1,248 (+4%)	9mo	$232,000	$186	48
202 Walnut St	0.66mi	2/2.0	1,040 (-14%)	1mo	$132,500	$127	41

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: 25.4%
• Equity multiple: 3.03×
• Total profit: $66,534
• Equity at exit: $105,403

10-year hold

• IRR: 22.4%
• Equity multiple: 6.91×
• Total profit: $193,709
• Equity at exit: $227,305

Cash invested: $32,760 (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: 26
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,039 medium
• Mortgage (P&I): −$614
• Tax from tax record: −$115 /mo · $1,376/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $44

Break-even live

Break-even rent $984

Max offer price $117,000

Occupancy floor 91%

Sensitivity live

Price	-10% $110	-5% $77	+0% $44	+5% $11	+10% $-22
Rent	-10% $-38	-5% $3	+0% $44	+5% $85	+10% $126
Rate	-1.0pp $103	-0.5pp $74	base $44	+0.5pp $14	+1.0pp $-17

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-20
   status Pending
2. 2026-02-02
   listed $117,000 Active

ⓘ 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: $1,376 · $115/mo
• Projected year-2 tax: $1,606 · $134/mo
• Expected delta: +$230/yr (+$19/mo · 16.7%)

ⓘ 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 ≥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: $12,474
• − Mortgage interest: −$6,554
• − Property taxes: −$1,376
• − Insurance: −$585
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$3,404
• Taxable loss: −$1,440
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $876/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

2 events — show timeline

• 2026-04-20 Pending — IAR
• 2026-02-02 Listed $117,000 IAR

Property tax history

+6.5%/yr

Latest (2025): $1,376 · -3.6% YoY. Source: county tax records.