1062 10th Ave NW · Altoona, IA 50009

$158,000

2 bd · 1.5 ba · 1,056 sqft · Condo public records · 60 Days on market

Built 2003 $150/sqft · at area comps Est $155k · at est. $190/mo HOA · 13% 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 +10.1/30.0
• ARV discount +6.6/15.0
• Schools +6.4/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this move-in-ready townhome with 2 bedrooms and 1 1/2 bathrooms, complete with a two-car attached garage. All appliances are included AND the washer/dryer and dishwasher are all NEW. Recent upgrades also include a new HVAC system installed within the last year, ensuring comfort year-round. The roof was replaced during the summer of 2021, providing peace of mind for years to come. Located conveniently close to shopping centers, a variety of restaurants, and scenic bike and walking trails, this property offers easy access to Altoona's many amenities. For those with furry companions, pets are welcome, and with approval from the Board of Directors, rental opportunities are available. All the information presented is derived from the seller and public records. Don't miss the opportunity to make this townhome your new home sweet home or your new rental property!

Key facts

• Recent upgrades
• Move in ready
• Roof replaced

Tags

• MOVE IN READY
• RECENT UPGRADES
• TWO CAR ATTACHED GARAGE
• ROOF REPLACED
• COMFORTABLE FUNCTIONAL LAYOUT
• EASY ACCESS TO AMENITIES

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association managed by Property Management of Iowa; Monthly association fee of $190; Association covers grounds maintenance, snow removal, and trash

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story property
• Construction: Vinyl siding; Asphalt shingle roof; Poured/slab foundation; Built with standard construction materials
• Exterior features: Rectangular lot; Asphalt road

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Dining area
• Laundry & utility: Washer; Dryer; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $158k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (5.0% below list).
• Recommended offer: $142k (10.2% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• It's been on market 60 days — a 3% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Recommended offer $141,841 (10.2% 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. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 8.8

CMA / ARV

• ARV (median comp): $154,889
• List price: $158,000
• Delta: 2.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.2%
• Equity multiple: 0.35×
• Total profit: $-28,823
• Equity at exit: $23,558

10-year hold

• IRR: -7.1%
• Equity multiple: 0.51×
• Total profit: $-21,576
• Equity at exit: $13,661

Cash invested: $44,240 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,500 high
• Mortgage (P&I): −$829
• Tax from tax record: −$192 /mo · $2,308/yr
• Insurance: −$66
• HOA: −$190
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-91

Break-even live

Break-even rent $1,616

Max offer price $141,841

Occupancy floor —

Sensitivity live

Price	-10% $-2	-5% $-47	+0% $-91	+5% $-136	+10% $-181
Rent	-10% $-210	-5% $-151	+0% $-91	+5% $-32	+10% $27
Rate	-1.0pp $-12	-0.5pp $-51	base $-91	+0.5pp $-132	+1.0pp $-174

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	$1,284	$1.47	16d	13	0.12mi
937 Breezewood Cir Altoona, IA	3.0	2.0	1300	$1,650	$1.27	16d	1	0.18mi
1414 Adventureland Dr Altoona, IA	4.0	2.0	916	$2,074	$2.26	16d	10	0.23mi
1000 Adventureland Dr Altoona, IA	1.0–2.0	1.0–1.5	745	$1,028	$1.38	16d	11	0.27mi
703 11th Ave NW Altoona, IA	3.0	1.5	1237	$1,845	$1.49	21d	1	0.30mi
615 17th Ave NW Altoona, IA	1.0–3.0	1.0–2.0	795	$1,240	$1.56	16d	12	0.39mi
437 Elgin Ln NW Altoona, IA	2.0	2.0	1210	$1,910	$1.58	16d	7	0.42mi
300 5th Ave NW Altoona, IA	3.0	1.0	1008	$1,595	$1.58	25d	1	0.69mi
108 5th Ave NW Unit 3 Altoona, IA	3.0	1.0	1040	$1,229	$1.18	25d	1	0.75mi
108 5th Ave NW Unit 3 Altoona, IA	1.0–3.0	1.0	870	$1,039	$1.19	16d	10	0.75mi
401 2nd St NW Altoona, IA	2.0	2.0	1000	$1,025	$1.02	16d	2	0.76mi
351 2nd St NW Altoona, IA	2.0	2.0	1000	$1,025	$1.02	46d	1	0.79mi
203 3rd St SE Unit 2B Altoona, IA	2.0	1.0	780	$1,849	$2.37	16d	1	1.14mi
203 3rd St SE Unit 1A Altoona, IA	2.0	1.0	780	$1,050	$1.35	21d	1	1.15mi
908 8th St SW Altoona, IA	1.0–2.0	1.0–2.0	756	$955	$1.26	16d	5	1.22mi

HOA detail condo

• Monthly dues: $190 · $2,280/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $158,000 Active 60 DOM
2. 2026-06-18
   days on market $158,000 Active 57 DOM
3. 2026-06-17
   days on market $158,000 Active 56 DOM
4. 2026-06-16
   days on market $158,000 Active 55 DOM
5. 2026-06-15
   days on market $158,000 Active 54 DOM
6. 2026-06-14
   days on market $158,000 Active 52 DOM
7. 2026-06-10
   days on market $158,000 Active 49 DOM
8. 2026-06-09
   days on market $158,000 Active 48 DOM
9. 2026-06-08
   days on market $158,000 Active 47 DOM
10. 2026-06-07
    pricedays on market $158,000 Active 46 DOM
11. 2026-06-03
    days on market $160,000 Active 42 DOM
12. 2026-06-02
    days on market $160,000 Active 41 DOM
13. 2026-06-01
    days on market $160,000 Active 40 DOM
14. 2026-05-31
    days on market $160,000 Active 39 DOM
15. 2026-05-31
    days on market $160,000 Active 38 DOM
16. 2026-04-21
    listed $160,000 Active 1504-char remark
17. 2023-11-02
    historical $1,300
18. 2023-10-24
    soldstatus $147,000
19. 2023-10-17
    soldstatus $147,000 Closed 879-char remark

    Show marketing remark (879 chars)

    Welcome to this move-in-ready townhome with 2 bedrooms and 1 1/2 bathrooms, complete with a two-car attached garage. All appliances are included AND the washer/dryer and dishwasher are all NEW. Recent upgrades also include a new HVAC system installed within the last year, ensuring comfort year-round. The roof was replaced during the summer of 2021, providing peace of mind for years to come. Located conveniently close to shopping centers, a variety of restaurants, and scenic bike and walking trails, this property offers easy access to Altoona's many amenities. For those with furry companions, pets are welcome, and with approval from the Board of Directors, rental opportunities are available. All the information presented is derived from the seller and public records. Don't miss the opportunity to make this townhome your new home sweet home or your new rental property!

20. 2023-10-06
    listed $1,300
21. 2023-09-13
    status Pending 879-char remark

    Show marketing remark (879 chars)

    Welcome to this move-in-ready townhome with 2 bedrooms and 1 1/2 bathrooms, complete with a two-car attached garage. All appliances are included AND the washer/dryer and dishwasher are all NEW. Recent upgrades also include a new HVAC system installed within the last year, ensuring comfort year-round. The roof was replaced during the summer of 2021, providing peace of mind for years to come. Located conveniently close to shopping centers, a variety of restaurants, and scenic bike and walking trails, this property offers easy access to Altoona's many amenities. For those with furry companions, pets are welcome, and with approval from the Board of Directors, rental opportunities are available. All the information presented is derived from the seller and public records. Don't miss the opportunity to make this townhome your new home sweet home or your new rental property!

22. 2023-09-11
    listed $147,000 Active 879-char remark

    Show marketing remark (879 chars)

    Welcome to this move-in-ready townhome with 2 bedrooms and 1 1/2 bathrooms, complete with a two-car attached garage. All appliances are included AND the washer/dryer and dishwasher are all NEW. Recent upgrades also include a new HVAC system installed within the last year, ensuring comfort year-round. The roof was replaced during the summer of 2021, providing peace of mind for years to come. Located conveniently close to shopping centers, a variety of restaurants, and scenic bike and walking trails, this property offers easy access to Altoona's many amenities. For those with furry companions, pets are welcome, and with approval from the Board of Directors, rental opportunities are available. All the information presented is derived from the seller and public records. Don't miss the opportunity to make this townhome your new home sweet home or your new rental property!

23. 2023-09-11
    historical

    Show marketing remark (879 chars)

    Welcome to this move-in-ready townhome with 2 bedrooms and 1 1/2 bathrooms, complete with a two-car attached garage. All appliances are included AND the washer/dryer and dishwasher are all NEW. Recent upgrades also include a new HVAC system installed within the last year, ensuring comfort year-round. The roof was replaced during the summer of 2021, providing peace of mind for years to come. Located conveniently close to shopping centers, a variety of restaurants, and scenic bike and walking trails, this property offers easy access to Altoona's many amenities. For those with furry companions, pets are welcome, and with approval from the Board of Directors, rental opportunities are available. All the information presented is derived from the seller and public records. Don't miss the opportunity to make this townhome your new home sweet home or your new rental property!

24. 2023-08-17
    listed $147,000 Active
25. 2018-02-23
    soldstatus $102,000
26. 2017-04-11
    historical
27. 2017-04-03
    listed $97,000

ⓘ 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: $2,308 · $192/mo
• Projected year-2 tax: $2,394 · $200/mo
• Expected delta: +$86/yr (+$7/mo · 3.7%)

ⓘ 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: $18,004
• − Mortgage interest: −$8,850
• − Property taxes: −$2,308
• − Insurance: −$790
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − HOA: −$2,280
• − Depreciation: −$4,596
• Taxable loss: −$3,701
• Est. tax savings @ 24.0%: +$888
• After-tax cash flow: $-209/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

+62.9% since first listed

13 events — show timeline

• 2026-06-04 Price Changed $158,000 DMMLS
• 2026-04-21 Listed $160,000 DMMLS
• 2023-11-02 Rental Removed $1,300 TURBOTENANT
• 2023-10-24 Sold (Public Records) $147,000 Public Records
• 2023-10-17 Sold (MLS) $147,000 DMMLS
• 2023-10-06 Listed for Rent $1,300 TURBOTENANT
• 2023-09-13 Pending — DMMLS
• 2023-09-11 Listing Removed — DMMLS
• 2023-09-11 Listed $147,000 DMMLS
• 2023-08-17 Listed $147,000 DMMLS
• 2018-02-23 Sold (Public Records) $102,000 Public Records
• 2017-04-11 Listing Removed — DMMLS
• 2017-04-03 Listed $97,000 DMMLS

Property tax history

+1.5%/yr

Latest (2025): $2,308 · +2.3% YoY. Source: county tax records.