308 Guy Porter St · Humeston, IA 50123

$135,000

2 bd · 1.0 ba · 1,168 sqft · SingleFamily public records · 154 Days on market

Built 1968 2.26 ac lot Est $95k · 43% over

---

Why this score? — see what drove the F 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
• Schools +5.2/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Nice in town acreage! This ranch style home sits on almost 2 1/2 acres located on the south side of Humeston. This two bedroom (plus one small room that could be a bedroom or office) has one full bath and an attached garage. There is an additional parcel also included that has a detached 2 car garage. Sit out on the back deck and enjoy the country views, while being in town. This home does need some TLC and is a bit of a fixer upper, but has the potential to be a very nice home.

Key facts

• Ranch style home
• Back deck
• Country views

Tags

• RANCH STYLE HOME
• BACK DECK
• COUNTRY VIEWS
• DETACHED 2 CAR GARAGE

Property features AI

Exterior

• Parking: Attached garage; Detached garage; Gravel parking; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Residential property; Unimproved land
• Construction: Wood siding
• Exterior features: Public water; Public sewer; Lot is approximately 2.26 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-79 ($-944/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (25.3% below list).
• Recommended offer: $101k (25.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#623 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Mormon Trail Community School District (rural): math 55% / reading 65% proficiency, ranked #284 of 330 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 6 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.0% local appreciation)).
• Wayne County population projected to shrink 8% 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Recommended offer $100,851 (25.3% 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 154 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.50%
• DSCR: 0.89
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $94,608
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 4th St S	0.08mi	2/1.5	1,173 (+0%)	16mo	$95,000	$81	80
316 S Eaton Ave	0.12mi	2/1.5	1,176 (+1%)	13mo	$161,000	$137	80
314 S Front St	0.19mi	2/1.0	1,126 (-4%)	8mo	$15,000	$13	78
430 S Front St	0.19mi	2/1.0	1,330 (+14%)	0mo	$60,000	$45	68
128 N 4th St N	0.30mi	2/1.5	1,008 (-14%)	3mo	$120,000	$119	59
404 Guy Porter St	0.06mi	3/1.0 (+1)	1,276 (+9%)	22mo	$117,000	$92	58
322 Winter St	0.38mi	3/1.0 (+1)	1,046 (-10%)	9mo	$60,000	$57	52

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: 5.2%
• Equity multiple: 1.30×
• Total profit: $11,233
• Equity at exit: $60,702

10-year hold

• IRR: 8.2%
• Equity multiple: 2.24×
• Total profit: $47,003
• Equity at exit: $93,549

Cash invested: $37,800 (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 50123

• Active inventory: 5
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,009 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $-79

Break-even live

Break-even rent $1,108

Max offer price $121,106

Occupancy floor —

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-02-26
   historical Active Under Contract
3. 2025-11-26
   listed $135,000 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: $1,334 · $111/mo
• Projected year-2 tax: $1,727 · $144/mo
• Expected delta: +$393/yr (+$33/mo · 29.4%)

ⓘ 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 3/10 Moderate
• 🌡 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: $12,102
• − Mortgage interest: −$7,562
• − Property taxes: −$1,334
• − Insurance: −$675
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$3,927
• Taxable loss: −$3,333
• Est. tax savings @ 24.0%: +$800
• After-tax cash flow: $-144/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: Mormon Trail Community School District
• NCES district ID: 1919740
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 65% ▬ 0.00%
• Median HH income: $46,693
• Composite: 52.35/100
• National rank: #3427
• State rank: #284 of 330 in IA

Livability — Humeston

• Score: 64/100
• State rank: #623
• US rank: #14366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Humeston, IA
• Population (ZIP): 863

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 6,213 people
• By 2030: 6,109 · -1.7%
• By 2040: 5,926 · -4.6%
• By 2050: 5,716 · -8.0%
• By 2075: 5,502 · -11.4%
• By 2100: 4,890 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Dominican 2%
• Common ancestry: Portuguese 3% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+57.2) · D 20.6% · R 77.8% · Other 1.6%
• 2008→2024 swing: -50.2pp toward R · 2008: -7.0pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+51.8 2016: R+46.2 2012: R+11.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

3 events — show timeline

• 2026-04-29 Pending — IAR
• 2026-02-26 Contingent — IAR
• 2025-11-26 Listed $135,000 IAR

Property tax history

-1.0%/yr

Latest (2025): $1,334 · -3.2% YoY. Source: county tax records.