2510 Washington St · Columbus City, IA 52737

$122,000

3 bd · 1.0 ba · 1,367 sqft · SingleFamily public records · 90 Days on market

Built 1938 0.34 ac lot $89/sqft · 18% below area Est $166k · 27% under

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Why this score? — see what drove the C 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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming Brick Cottage | Columbus City, Iowa Cozy meets character in this beautiful 3 bed, 1 bath brick cottage! Hardwood floors flow through the kitchen, dining room, and main living area, anchored by a gorgeous fireplace that's perfect for those Iowa evenings. Detached garage, a spacious yard, and endless potential to make it your own.

Key facts

• Spacious yard
• Brick cottage
• Gorgeous fireplace

Tags

• BRICK COTTAGE
• HARDWOOD FLOORS
• GORGEOUS FIREPLACE
• DETACHED GARAGE
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $75 ($902/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (11.1% below list).
• Recommended offer: $108k (11.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#695 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety D+, schools F, amenities F.
• Columbus Community School District (rural): math 53% / reading 60% proficiency, ranked #258 of 289 in IA (top 89%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 2 active listings in the ZIP; 9 units permitted in Louisa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($843 loan paydown + $4k appreciation (3.0% local appreciation)).
• Louisa County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $122k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,458 (11.1% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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. 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?
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: 0.89% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (median comp): $166,036
• List price: $122,000
• Delta: -26.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2205 Market St	0.29mi	2/1.0 (-1)	1,248 (-9%)	1mo	$39,330	$32	66
2902 Water St	0.46mi	3/1.0	1,516 (+11%)	4mo	$156,500	$103	58
403 Flat Iron Dr	0.57mi	3/2.0	1,316 (-4%)	8mo	$145,000	$110	56
316 South Hill Ave	0.56mi	3/1.5	1,204 (-12%)	0mo	$175,000	$145	51

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: 10.0%
• Equity multiple: 1.57×
• Total profit: $19,465
• Equity at exit: $54,856

10-year hold

• IRR: 12.3%
• Equity multiple: 2.83×
• Total profit: $62,571
• Equity at exit: $84,540

Cash invested: $34,160 (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 52737

• Active inventory: 2
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,085 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$91 /mo · $1,092/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $75

Break-even live

Break-even rent $989

Max offer price $122,000

Occupancy floor 88%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $122,000 Active 90 DOM
2. 2026-06-17
   days on market $122,000 Active 89 DOM
3. 2026-06-16
   days on market $122,000 Active 88 DOM
4. 2026-06-15
   days on market $122,000 Active 87 DOM
5. 2026-06-13
   days on market $122,000 Active 85 DOM
6. 2026-06-12
   days on market $122,000 Active 84 DOM
7. 2026-06-09
   days on market $122,000 Active 81 DOM
8. 2026-06-08
   days on market $122,000 Active 80 DOM
9. 2026-06-07
   days on market $122,000 Active 79 DOM
10. 2026-06-07
    days on market $122,000 Active 78 DOM
11. 2026-06-04
    days on market $122,000 Active 75 DOM
12. 2026-06-02
    days on market $122,000 Active 74 DOM
13. 2026-06-01
    days on market $122,000 Active 73 DOM
14. 2026-05-31
    days on market $122,000 Active 72 DOM
15. 2026-05-31
    days on market $122,000 Active 71 DOM
16. 2026-04-28
    price $122,000 339-char remark

    Show marketing remark (339 chars)

    Charming Brick Cottage | Columbus City, Iowa Cozy meets character in this beautiful 3 bed, 1 bath brick cottage! Hardwood floors flow through the kitchen, dining room, and main living area, anchored by a gorgeous fireplace that's perfect for those Iowa evenings. Detached garage, a spacious yard, and endless potential to make it your own.

17. 2026-04-06
    price $129,000 339-char remark

    Show marketing remark (339 chars)

    Charming Brick Cottage | Columbus City, Iowa Cozy meets character in this beautiful 3 bed, 1 bath brick cottage! Hardwood floors flow through the kitchen, dining room, and main living area, anchored by a gorgeous fireplace that's perfect for those Iowa evenings. Detached garage, a spacious yard, and endless potential to make it your own.

18. 2026-03-20
    listed $135,000 Active 339-char remark

    Show marketing remark (339 chars)

    Charming Brick Cottage | Columbus City, Iowa Cozy meets character in this beautiful 3 bed, 1 bath brick cottage! Hardwood floors flow through the kitchen, dining room, and main living area, anchored by a gorgeous fireplace that's perfect for those Iowa evenings. Detached garage, a spacious yard, and endless potential to make it your own.

19. 2017-10-13
    soldstatus $54,875
20. 2017-10-12
    soldstatus $55,000 103-char remark

    Show marketing remark (103 chars)

    Short Sale. Priced to Sell. With some TLC this house will be your home. CAUTION: Rotten Deck in Front.

21. 2017-10-12
    soldstatus $55,000

    Show marketing remark (103 chars)

    Short Sale. Priced to Sell. With some TLC this house will be your home. CAUTION: Rotten Deck in Front.

22. 2017-08-01
    listed $55,000 103-char remark

    Show marketing remark (103 chars)

    Short Sale. Priced to Sell. With some TLC this house will be your home. CAUTION: Rotten Deck in Front.

23. 2017-08-01
    listed $55,000

    Show marketing remark (103 chars)

    Short Sale. Priced to Sell. With some TLC this house will be your home. CAUTION: Rotten Deck in Front.

ⓘ 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: $1,092 · $91/mo
• Projected year-2 tax: $1,504 · $125/mo
• Expected delta: +$412/yr (+$34/mo · 37.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,015
• − Mortgage interest: −$6,834
• − Property taxes: −$1,092
• − Insurance: −$610
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$3,549
• Taxable loss: −$1,152
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $1,179/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: Columbus Community School District
• NCES district ID: 1907980
• Math proficiency: 53% ▼ -3.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $47,844
• Composite: 47.95/100
• National rank: #2204
• State rank: #258 of 289 in IA

Livability — Columbus City

• Score: 62/100
• State rank: #695
• US rank: #16151

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus City, IA
• City population: 306
• Population (ZIP): 306

Population outlook (Louisa County) Hauer SSP2

• Today (2025): 11,061 people
• By 2030: 10,869 · -1.7%
• By 2040: 10,400 · -6.0%
• By 2050: 9,878 · -10.7%
• By 2075: 9,425 · -14.8%
• By 2100: 9,584 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (52%)
• Race & ethnicity: Hispanic / Latino 52% White 48% Two or more races 4%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Iranian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada
• Languages at home: 54% English-only · Spanish 46%

Political lean MEDSL · Louisa

• 2024 margin: Solid R (+41.0) · D 28.8% · R 69.8% · Other 1.4%
• 2008→2024 swing: -45.2pp toward R · 2008: 4.2pp · 2024: -41.0pp
• All cycles: 2024: R+41.0 2020: R+33.3 2016: R+28.7 2012: D+0.7 2008: D+4.2

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

+121.8% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $122,000 IAR
• 2026-04-06 Price Changed $129,000 IAR
• 2026-03-20 Listed $135,000 IAR
• 2017-10-13 Sold (Public Records) $54,875 Public Records
• 2017-10-12 Sold (MLS) $55,000 ICAARMLS
• 2017-10-12 Sold (MLS) $55,000 Muscatine BOR
• 2017-08-01 Listed $55,000 ICAARMLS
• 2017-08-01 Listed $55,000 Muscatine BOR

Property tax history

-1.3%/yr

Latest (2025): $1,092 · +3.0% YoY. Source: county tax records.