280 5th Ave SW · Britt, IA 50423

$98,000

5 bd · 1.5 ba · 1,892 sqft · SingleFamily public records · 163 Days on market

Built 1973 8,712 sqft lot $52/sqft · 51% below area Est $117k · 16% under

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Why this score? — see what drove the A 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
• ARV discount +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +6.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

PRICE REDUCED! This 3 bdrm, 1 bath ranch home w/ attached garage sits on a corner lot! There is a 3 season room (10 x 15) off the back of the house. Only a few blocks from the High School/Elementary School. Only a few blocks from the Clinic & Hospital.

Key facts

• 3 season room
• Corner lot
• 8,712 sq ft lot

Tags

• CORNER LOT
• 3 SEASON ROOM
• FEW BLOCKS FROM HIGH SCHOOL
• FEW BLOCKS FROM CLINIC

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#121 in IA, #2,262 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Hancock Community School District (rural): math 76% / reading 74% proficiency, ranked #77 of 289 in IA (top 27%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: West Hancock Elementary School (math 82% / reading 77%, grade A, #71 of 616 statewide, top 15%, 272 students, 37% FRL); West Hancock Middle School (math 72% / reading 72%, grade A, #95 of 246 statewide, top 42%, 165 students, 42% FRL); West Hancock High School (math 72% / reading 77%, grade B+, #89 of 336 statewide, top 30%, 162 students, 33% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 11 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($678 loan paydown + $10k appreciation (10.0% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $28k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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 B-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?
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: 1.55% ✓
• Cap rate: 12.15%
• Cash-on-cash: 20.93%
• DSCR: 1.93
• GRM: 5.4

CMA / ARV

• ARV (median comp): $116,561
• List price: $98,000
• Delta: -15.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 3rd St SE	0.41mi	4/1.5 (-1)	2,079 (+10%)	4mo	$35,000	$17	56

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.9%
• Equity multiple: 4.06×
• Total profit: $83,913
• Equity at exit: $88,286

10-year hold

• IRR: 34.4%
• Equity multiple: 9.14×
• Total profit: $223,235
• Equity at exit: $190,392

Cash invested: $27,440 (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 50423

• Home prices YoY: 8.2%
• Active inventory: 22
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,520 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $479

Break-even live

Break-even rent $914

Max offer price $98,000

Occupancy floor 64%

Sensitivity live

Price	-10% $534	-5% $506	+0% $479	+5% $451	+10% $423
Rent	-10% $359	-5% $419	+0% $479	+5% $539	+10% $599
Rate	-1.0pp $528	-0.5pp $504	base $479	+0.5pp $453	+1.0pp $427

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $98,000 Active 163 DOM
2. 2026-06-21
   days on market $98,000 Active 162 DOM
3. 2026-06-18
   days on market $98,000 Active 160 DOM
4. 2026-06-17
   days on market $98,000 Active 159 DOM
5. 2026-06-16
   days on market $98,000 Active 158 DOM
6. 2026-06-15
   days on market $98,000 Active 157 DOM
7. 2026-06-13
   days on market $98,000 Active 155 DOM
8. 2026-06-12
   days on market $98,000 Active 154 DOM
9. 2026-06-09
   pricedays on market $98,000 Active 151 DOM
10. 2026-06-08
    days on market $104,900 Active 150 DOM
11. 2026-06-07
    days on market $104,900 Active 149 DOM
12. 2026-06-07
    days on market $104,900 Active 148 DOM
13. 2026-06-04
    days on market $104,900 Active 145 DOM
14. 2026-06-02
    days on market $104,900 Active 144 DOM
15. 2026-06-01
    days on market $104,900 Active 143 DOM
16. 2026-05-31
    days on market $104,900 Active 142 DOM
17. 2026-05-31
    days on market $104,900 Active 141 DOM
18. 2026-05-11
    price $104,900 261-char remark

    Show marketing remark (261 chars)

    PRICE REDUCED! This 3 bdrm, 1 bath ranch home w/ attached garage sits on a corner lot! There is a 3 season room (10 x 15) off the back of the house. Only a few blocks from the High School/Elementary School. Only a few blocks from the Clinic & Hospital.

19. 2026-04-10
    price $109,900 261-char remark

    Show marketing remark (261 chars)

    PRICE REDUCED! This 3 bdrm, 1 bath ranch home w/ attached garage sits on a corner lot! There is a 3 season room (10 x 15) off the back of the house. Only a few blocks from the High School/Elementary School. Only a few blocks from the Clinic & Hospital.

20. 2026-03-13
    price $114,900 261-char remark

    Show marketing remark (261 chars)

    PRICE REDUCED! This 3 bdrm, 1 bath ranch home w/ attached garage sits on a corner lot! There is a 3 season room (10 x 15) off the back of the house. Only a few blocks from the High School/Elementary School. Only a few blocks from the Clinic & Hospital.

21. 2026-02-10
    price $119,900 261-char remark

    Show marketing remark (261 chars)

    PRICE REDUCED! This 3 bdrm, 1 bath ranch home w/ attached garage sits on a corner lot! There is a 3 season room (10 x 15) off the back of the house. Only a few blocks from the High School/Elementary School. Only a few blocks from the Clinic & Hospital.

22. 2026-01-09
    listed $126,000 Active 261-char remark

    Show marketing remark (261 chars)

    PRICE REDUCED! This 3 bdrm, 1 bath ranch home w/ attached garage sits on a corner lot! There is a 3 season room (10 x 15) off the back of the house. Only a few blocks from the High School/Elementary School. Only a few blocks from the Clinic & Hospital.

23. 2021-05-18
    soldstatus $124,500
24. 2021-05-14
    soldstatus $124,500 93-char remark

    Show marketing remark (93 chars)

    3 bdrm, 1 bath ranch with attached double garage sits on corner lot. Has bonus 3 season room!

25. 2021-03-16
    listed $122,500 93-char remark

    Show marketing remark (93 chars)

    3 bdrm, 1 bath ranch with attached double garage sits on corner lot. Has bonus 3 season room!

26. 2014-08-28
    soldstatus $82,500

ⓘ 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: $2,010 · $168/mo
• Projected year-2 tax: $2,010 · $168/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 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: $18,243
• − Mortgage interest: −$5,490
• − Property taxes: −$2,010
• − Insurance: −$490
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$2,851
• Taxable income: $4,483
• Est. tax owed @ 24.0%: −$1,076
• After-tax cash flow: $4,669/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: West Hancock Community School District
• NCES district ID: 1905430
• Math proficiency: 76% ▼ -5.00%
• Reading proficiency: 74% ▼ -1.00%
• Median HH income: $46,779
• Composite: 63.22/100
• National rank: #634
• State rank: #77 of 289 in IA

Livability — Britt

• Score: 79/100
• State rank: #121
• US rank: #2262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Britt, IA
• Population (ZIP): 2,401

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 10,462 people
• By 2030: 10,154 · -2.9%
• By 2040: 9,552 · -8.7%
• By 2050: 9,034 · -13.6%
• By 2075: 8,233 · -21.3%
• By 2100: 7,050 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 11% Iranian 6% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.6pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.9 2016: R+41.1 2012: R+13.6 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.61%
• Current HPI: 245.6369
• 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

+27.2% since first listed

9 events — show timeline

• 2026-05-11 Price Changed $104,900 IAR
• 2026-04-10 Price Changed $109,900 IAR
• 2026-03-13 Price Changed $114,900 IAR
• 2026-02-10 Price Changed $119,900 IAR
• 2026-01-09 Listed $126,000 IAR
• 2021-05-18 Sold (Public Records) $124,500 Public Records
• 2021-05-14 Sold (MLS) $124,500 IAR
• 2021-03-16 Listed $122,500 IAR
• 2014-08-28 Sold (Public Records) $82,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,010 · +3.7% YoY. Source: county tax records.