403 W Main St · Mingo, IA 50168

$89,900

4 bd · 3.0 ba · 1,976 sqft · SingleFamily public records · 31 Days on market

Built 2000 1.16 ac lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Schools +5.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious ranch-style home offering 4 bedrooms and 3 bathrooms on over an acre of land, giving you plenty of room to spread out and enjoy. With multiple areas to relax and unwind, this property provides the space and comfort you've been looking for. Conveniently located just minutes from parks and the bike path, you'll enjoy the perfect blend of privacy and accessibility.

Key facts

• Ranch-style home
• Over an acre of land
• Minutes from parks

Tags

• RANCH-STYLE HOME
• OVER AN ACRE OF LAND
• MULTIPLE AREAS TO RELAX
• MINUTES FROM PARKS
• BIKE PATH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Vinyl siding; Asphalt shingle roof
• Construction: Vinyl siding construction; Asphalt shingle roof
• Exterior features: Asphalt road access; Residential zoning

Interior

• Bedrooms: 4 main-level bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air; Forced air heat (natural gas)
• Interior features: Central air conditioning; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $369 ($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: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#835 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: employment D, schools D-, amenities F.
• Colfax-Mingo Community School District (rural): math 59% / reading 66% proficiency, ranked #213 of 289 in IA (top 74%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($622 loan paydown + $4k appreciation (4.5% local appreciation)).
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.45% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.61%
• DSCR: 1.78
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $312,208
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 E Bluff St	0.36mi	4/3.0	1,720 (-13%)	19mo	$270,000	$157	46
210 Davenport St	0.62mi	3/2.0 (-1)	1,690 (-14%)	2mo	$267,500	$158	36

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

Projected returns pro-forma

4.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 2.67×
• Total profit: $41,991
• Equity at exit: $48,506

10-year hold

• IRR: 26.5%
• Equity multiple: 5.28×
• Total profit: $107,844
• Equity at exit: $81,765

Cash invested: $25,172 (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 50168

• Home prices YoY: 3.1%
• Active inventory: 31
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$149 /mo · $1,786/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $369

Break-even live

Break-even rent $833

Max offer price $89,900

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $89,900 Active 31 DOM
2. 2026-06-17
   days on market $89,900 Active 30 DOM
3. 2026-06-16
   days on market $89,900 Active 29 DOM
4. 2026-06-15
   days on market $89,900 Active 28 DOM
5. 2026-06-14
   days on market $89,900 Active 26 DOM
6. 2026-06-13
   days on market $89,900 Active 25 DOM
7. 2026-06-10
   days on market $89,900 Active 23 DOM
8. 2026-06-09
   days on market $89,900 Active 22 DOM
9. 2026-06-08
   days on market $89,900 Active 21 DOM
10. 2026-06-07
    days on market $89,900 Active 20 DOM
11. 2026-06-05
    days on market $89,900 Active 17 DOM
12. 2026-06-03
    days on market $89,900 Active 16 DOM
13. 2026-06-02
    days on market $89,900 Active 15 DOM
14. 2026-06-01
    days on market $89,900 Active 14 DOM
15. 2026-05-31
    days on market $89,900 Active 13 DOM
16. 2026-05-31
    days on market $89,900 Active 12 DOM
17. 2026-05-18
    listed $89,900 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: $1,786 · $149/mo
• Projected year-2 tax: $1,786 · $149/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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,601
• − Mortgage interest: −$5,036
• − Property taxes: −$1,786
• − Insurance: −$450
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$2,615
• Taxable income: $3,218
• Est. tax owed @ 24.0%: −$772
• After-tax cash flow: $3,659/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: Colfax-Mingo Community School District
• NCES district ID: 1900009
• Math proficiency: 59% ▼ -2.00%
• Reading proficiency: 66% ▲ 7.00%
• Median HH income: $53,956
• Composite: 53.51/100
• National rank: #1450
• State rank: #213 of 289 in IA

Livability — Mingo

• Score: 60/100
• State rank: #835
• US rank: #19238

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mingo, IA
• Population (ZIP): 829

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Iranian 4% Portuguese 4% Romanian 4%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.55%
• Current HPI: 152.6455
• 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

1 event — show timeline

• 2026-05-18 Listed $89,900 DMMLS

Property tax history

+0.2%/yr

Latest (2025): $1,786 · +0.4% YoY. Source: county tax records.