1213 10th Ave NW · Altoona, IA 50009

$115,000

1 bd · 1.5 ba · 720 sqft · SingleFamily public records · 10 Days on market

Built 1996 1,580 sqft lot $195/mo HOA · 17% of rent

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Why this score? — see what drove the D 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 +9.3/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy lots of light from the skylight and vaulted ceilings in this Colorado style cottage. One bedroom plus bonus room on second floor. Open kitchen/dining and living room. One full and one half bathroom. Townhome is connected to Altoona's greenbelt trail system: ponds, parks, recreation center, aquatic center, library, grocery store and more! Two car attached garage adds convenience to your commute. Appliances included. Central air conditioning.

Key facts

• 1,580 sq ft lot
• 2 garage spots
• Built 1996

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Homeowners association (Meadow View Homeowners) with a monthly fee of $195

Exterior

• Parking: Attached two-car garage
• Utilities: Public water; Public sewer
• Home design: Residential zoning
• Construction: Asphalt shingle roof; Poured slab foundation
• Exterior features: Concrete road/driveway; Irregular lot shape; Lot dimensions approximately 20 x 79

Interior

• Bathrooms: 1 full bathroom
• Interior features: Central air conditioning; Baseboard electric heating

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-83 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (2.7% below list).
• Recommended offer: $100k (12.8% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.1% in Altoona — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#85 in IA, #1,757 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Southeast Polk Community School District (rural): math 73% / reading 73% proficiency, ranked #70 of 289 in IA (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Altoona Elementary (math 82% / reading 72%, grade A, #103 of 616 statewide, top 20%, 419 students, 50% FRL); Southeast Polk Junior High (math 74% / reading 71%, grade A, #90 of 246 statewide, top 38%, 1,088 students, 37% FRL); Southeast Polk High School (math 65% / reading 74%, grade B, #152 of 336 statewide, top 52%, 2,353 students, 32% FRL) — zoned schools average 39% FRL vs 23% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 310 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,953 units permitted in Polk County in 2024 (540 in 5+ unit buildings).
• This rent is only 15% of the median local income ($88k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $85k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $100,251 (12.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.97% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.11%
• DSCR: 0.86
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.32×
• Total profit: $-21,987
• Equity at exit: $17,147

10-year hold

• IRR: -8.0%
• Equity multiple: 0.45×
• Total profit: $-17,679
• Equity at exit: $9,943

Cash invested: $32,200 (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 50009

• Rents YoY: 4.6%
• Active inventory: 310
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,119 high
• Mortgage (P&I): −$603
• Tax from tax record: −$122 /mo · $1,462/yr
• Insurance: −$48
• HOA: −$195
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $-83

Break-even live

Break-even rent $1,225

Max offer price $100,251

Occupancy floor —

Sensitivity live

Price	-10% $-18	-5% $-51	+0% $-83	+5% $-116	+10% $-149
Rent	-10% $-172	-5% $-128	+0% $-83	+5% $-39	+10% $5
Rate	-1.0pp $-26	-0.5pp $-54	base $-83	+0.5pp $-113	+1.0pp $-144

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 Blue Ridge Pl NW Altoona, IA	1.0–3.0	1.0–2.0	874	$1,027	$1.18	16d	13	0.20mi
1000 Adventureland Dr Altoona, IA	1.0–2.0	1.0–1.5	745	$845	$1.13	16d	11	0.31mi
1414 Adventureland Dr Altoona, IA	4.0	2.0	916	$1,462	$1.60	16d	10	0.32mi
615 17th Ave NW Altoona, IA	1.0–3.0	1.0–2.0	795	$977	$1.23	16d	12	0.48mi
108 5th Ave NW Unit 3 Altoona, IA	1.0–3.0	1.0	870	$849	$0.98	16d	10	0.77mi
908 8th St SW Altoona, IA	1.0–2.0	1.0–2.0	756	$900	$1.19	16d	5	1.29mi

HOA detail

• Monthly dues: $195 · $2,340/yr

Listing history 7 events

1. 2026-06-21
   days on market $115,000 Active 10 DOM
2. 2026-06-18
   days on market $115,000 Active 7 DOM
3. 2026-06-17
   days on market $115,000 Active 6 DOM
4. 2026-06-16
   days on market $115,000 Active 5 DOM
5. 2026-06-15
   days on market $115,000 Active 4 DOM
6. 2026-06-14
   remarks 392-char remark
7. 2026-06-14
   listed $115,000 Active 2 DOM

ⓘ 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: $1,462 · $122/mo
• Projected year-2 tax: $1,634 · $136/mo
• Expected delta: +$172/yr (+$14/mo · 11.7%)

ⓘ 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 ≥103°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: $13,433
• − Mortgage interest: −$6,442
• − Property taxes: −$1,462
• − Insurance: −$575
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − HOA: −$2,340
• − Depreciation: −$3,345
• Taxable loss: −$2,881
• Est. tax savings @ 24.0%: +$691
• After-tax cash flow: $-311/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: Southeast Polk Community School District
• NCES district ID: 1926820
• Math proficiency: 73% ▼ -8.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $73,440
• Composite: 64.1/100
• National rank: #575
• State rank: #70 of 289 in IA

Livability — Altoona

• Score: 80/100
• State rank: #85
• US rank: #1757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, IA
• County: Polk County · 453,298 people
• City population: 22,886
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 22,886
• Household income: $88,447
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 566.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 548,042 people
• By 2030: 588,557 · +7.4%
• By 2040: 670,629 · +22.4%
• By 2050: 752,830 · +37.4%
• By 2075: 955,069 · +74.3%
• By 2100: 1,115,436 · +103.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 5% Portuguese 3% Italian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% Arabic 1%

Political lean MEDSL · Polk

• 2024 margin: D (+10.9) · D 54.8% · R 43.9% · Other 1.3%
• 2008→2024 swing: -3.7pp toward R · 2008: 14.6pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+15.2 2016: D+11.5 2012: D+14.2 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.79%
• Current HPI: 215.9041
• Rent YoY: ▲ 4.61%
• Metro: Des Moines-West Des Moines, IA
• 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

+36.1% since first listed

11 events — show timeline

• 2026-06-11 Listed $115,000 DMMLS
• 2019-01-12 Sold (MLS) $85,000 DMMLS
• 2018-09-05 Sold (Public Records) $85,000 Public Records
• 2018-08-07 Pending — DMMLS
• 2018-06-25 Listed $85,000 DMMLS
• 2011-02-14 Sold (MLS) $42,555 DMMLS
• 2010-09-22 Listed $50,000 DMMLS
• 2007-08-20 Sold (Public Records) $89,000 Public Records
• 2007-08-17 Sold (MLS) $89,000 DMMLS
• 2007-05-31 Listed $89,900 DMMLS
• 2005-03-10 Sold (Public Records) $84,500 Public Records

Property tax history

-1.4%/yr

Latest (2025): $1,462 · -5.1% YoY. Source: county tax records.