299 Hickory St · Lambs Grove, IA 50208

$39,000

2 bd · 1.0 ba · 820 sqft · SingleFamily public records · 64 Days on market

Built 1930 0.40 ac lot $48/sqft · 91% below area ↓ 43% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors!! House needs tore down or flipped. County taxes, city water. Located near city limits 105x200 lot

Key facts

• 0.4 acre lot
• Garage
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($871 rent vs $39k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#330 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($62k/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 $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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: 2.23% ✓
• Cap rate: 20.20%
• Cash-on-cash: 49.67%
• DSCR: 3.21
• GRM: 3.7

CMA / ARV

• ARV (median comp): $451,195
• List price: $39,000
• Delta: -91.36%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2064 Highway F48 Hwy W	0.49mi	2/1.0	728 (-11%)	8mo	$155,000	$213	52
1602 N 2nd Ave W	0.69mi	2/1.0	888 (+8%)	12mo	$149,900	$169	44

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

Projected returns pro-forma

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

5-year hold

• IRR: 47.3%
• Equity multiple: 3.06×
• Total profit: $22,461
• Equity at exit: $5,815

10-year hold

• IRR: 53.0%
• Equity multiple: 6.18×
• Total profit: $56,599
• Equity at exit: $3,372

Cash invested: $10,920 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $871 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$16 /mo · $188/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $452

Break-even live

Break-even rent $299

Max offer price $39,000

Occupancy floor 43%

Sensitivity live

Price	-10% $474	-5% $463	+0% $452	+5% $441	+10% $430
Rent	-10% $383	-5% $418	+0% $452	+5% $486	+10% $521
Rate	-1.0pp $472	-0.5pp $462	base $452	+0.5pp $442	+1.0pp $432

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
706 S 2nd Ave W Unit 706 Newton, IA	1.0	1.0	550	$625	$1.14	44d	1	1.32mi

Listing history 22 events

1. 2026-06-18
   days on market $39,000 Active 64 DOM
2. 2026-06-17
   days on market $39,000 Active 63 DOM
3. 2026-06-16
   days on market $39,000 Active 62 DOM
4. 2026-06-15
   days on market $39,000 Active 61 DOM
5. 2026-06-14
   days on market $39,000 Active 59 DOM
6. 2026-06-13
   days on market $39,000 Active 58 DOM
7. 2026-06-10
   days on market $39,000 Active 56 DOM
8. 2026-06-09
   days on market $39,000 Active 55 DOM
9. 2026-06-08
   days on market $39,000 Active 54 DOM
10. 2026-06-07
    days on market $39,000 Active 53 DOM
11. 2026-06-05
    days on market $39,000 Active 50 DOM
12. 2026-06-03
    days on market $39,000 Active 49 DOM
13. 2026-06-02
    days on market $39,000 Active 48 DOM
14. 2026-06-01
    days on market $39,000 Active 47 DOM
15. 2026-05-31
    days on market $39,000 Active 46 DOM
16. 2026-05-31
    days on market $39,000 Active 45 DOM
17. 2026-04-15
    listed $39,000 Active 119-char remark

    Show marketing remark (119 chars)

    Attention investors!! House needs tore down or flipped. County taxes, city water. Located near city limits 105x200 lot

18. 2026-01-27
    historical
19. 2025-12-03
    price $49,000
20. 2025-10-29
    price $55,000
21. 2025-10-17
    price $62,000
22. 2025-10-01
    listed $68,000 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: $188 · $16/mo
• Projected year-2 tax: $400 · $33/mo
• Expected delta: +$212/yr (+$18/mo · 112.8%)

ⓘ 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 ≥105°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: $10,457
• − Mortgage interest: −$2,185
• − Property taxes: −$188
• − Insurance: −$195
• − Repairs & maintenance: −$837
• − Management: −$837
• − Depreciation: −$1,135
• Taxable income: $5,082
• Est. tax owed @ 24.0%: −$1,220
• After-tax cash flow: $4,204/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Lambs Grove

• Score: 71/100
• State rank: #330
• US rank: #6690

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Jasper County · 20,595 people
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 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: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• 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

-42.6% since first listed

6 events — show timeline

• 2026-04-15 Listed $39,000 DMMLS
• 2026-01-27 Listing Removed — DMMLS
• 2025-12-03 Price Changed $49,000 DMMLS
• 2025-10-29 Price Changed $55,000 DMMLS
• 2025-10-17 Price Changed $62,000 DMMLS
• 2025-10-01 Listed $68,000 DMMLS

Property tax history

-6.4%/yr

Latest (2025): $188 · +3.3% YoY. Source: county tax records.