360 Main St · Grand River, IA 50108

$75,000

2 bd · 1.0 ba · 1,040 sqft · Other public records · 1 Days on market

Built 1903

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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
• Appreciation +8.5/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for affordable housing, come check this small home out. Good starter home or rental property.

Key facts

• Built 1903

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $75k).

Location & tenants

• Location reads 57/100 on livability (#916 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Central Decatur Community School District (rural): math 62% / reading 70% proficiency, ranked #200 of 289 in IA (top 69%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 8 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($519 loan paydown + $5k appreciation (7.0% local appreciation)).
• Decatur County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago 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.
• Current owner paid $8k; list at $75k implies a 838% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.30% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.64%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.1%
• Equity multiple: 3.12×
• Total profit: $44,602
• Equity at exit: $51,837

10-year hold

• IRR: 28.3%
• Equity multiple: 6.51×
• Total profit: $115,757
• Equity at exit: $98,345

Cash invested: $21,000 (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 50108

• Home prices YoY: 5.8%
• Active inventory: 8
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$54 /mo · $654/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $291

Break-even live

Break-even rent $606

Max offer price $75,000

Occupancy floor 65%

Sensitivity live

Price	-10% $334	-5% $312	+0% $291	+5% $270	+10% $249
Rent	-10% $214	-5% $253	+0% $291	+5% $330	+10% $368
Rate	-1.0pp $329	-0.5pp $310	base $291	+0.5pp $272	+1.0pp $252

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-26
   listed $75,000 Active
2. 2018-03-27
   soldstatus $8,000 101-char remark

   Show marketing remark (101 chars)

   Looking for affordable housing, come check this small home out. Good starter home or rental property.

3. 2017-10-02
   listed $11,000 101-char remark

   Show marketing remark (101 chars)

   Looking for affordable housing, come check this small home out. Good starter home or rental property.

ⓘ 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: $654 · $54/mo
• Projected year-2 tax: $916 · $76/mo
• Expected delta: +$262/yr (+$22/mo · 40.0%)

ⓘ 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 2/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,701
• − Mortgage interest: −$4,201
• − Property taxes: −$654
• − Insurance: −$375
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,182
• Taxable income: $2,417
• Est. tax owed @ 24.0%: −$580
• After-tax cash flow: $2,915/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: Central Decatur Community School District
• NCES district ID: 1906900
• Math proficiency: 62% ▼ -5.00%
• Reading proficiency: 70% ▲ 11.00%
• Median HH income: $38,617
• Composite: 54.94/100
• National rank: #1306
• State rank: #200 of 289 in IA

Livability — Grand River

• Score: 57/100
• State rank: #916
• US rank: #22137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand River, IA
• Population (ZIP): 432

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 7,720 people
• By 2030: 7,467 · -3.3%
• By 2040: 6,935 · -10.2%
• By 2050: 6,500 · -15.8%
• By 2075: 6,761 · -12.4%
• By 2100: 6,215 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Slovak 9% Portuguese 5% Serbian 4%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+47.1) · D 25.7% · R 72.7% · Other 1.6%
• 2008→2024 swing: -46.2pp toward R · 2008: -0.8pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+39.3 2016: R+29.6 2012: R+4.1 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.97%
• Current HPI: 127.8183
• 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

+581.8% since first listed

3 events — show timeline

• 2026-05-26 Listed $75,000 FSBO.com
• 2018-03-27 Sold (MLS) $8,000 IAR
• 2017-10-02 Listed $11,000 IAR

Property tax history

+66.5%/yr

Latest (2024): $654 · +130.3% YoY. Source: county tax records.