205 Main St · Ryan, IA 52330

$25,000

4 bd · 5.0 ba · 4,396 sqft · Other · 15 Days on market

Built 1900 Poor condition

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Not off market, mixed use home is commercial & amp; Residential Historic building in center of town.

Key facts

• Historic building
• Center of town
• Mixed use home

Tags

• MIXED USE HOME
• HISTORIC BUILDING
• CENTER OF TOWN

What this means for you Summary

Snapshot

• This is a 4-bed/5.0-bath other listed at $25k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $890 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#636 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• West Delaware County Community School District (town): math 73% / reading 81% proficiency, ranked #49 of 289 in IA (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 48 units permitted in Delaware County in 2024 (24 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($173 loan paydown + $1k appreciation (4.8% local appreciation)).
• Delaware County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 5.38% ✓
• Cap rate: 49.00%
• Cash-on-cash: 152.53%
• DSCR: 7.79
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.88×
• Total profit: $62,175
• Equity at exit: $13,874

10-year hold

• IRR: —
• Equity multiple: 20.88×
• Total profit: $139,139
• Equity at exit: $23,705

Cash invested: $7,000 (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 52330

• Home prices YoY: 3.1%
• Active inventory: 4
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $890

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 29%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $25,000 Active 15 DOM
2. 2026-06-17
   days on market $25,000 Active 14 DOM
3. 2026-06-16
   days on market $25,000 Active 13 DOM
4. 2026-06-15
   days on market $25,000 Active 12 DOM
5. 2026-06-13
   days on market $25,000 Active 10 DOM
6. 2026-06-12
   days on market $25,000 Active 9 DOM
7. 2026-06-09
   days on market $25,000 Active 6 DOM
8. 2026-06-08
   days on market $25,000 Active 5 DOM
9. 2026-06-07
   days on market $25,000 Active 4 DOM
10. 2026-06-07
    days on market $25,000 Active 3 DOM
11. 2026-06-04
    remarks 100-char remark
12. 2026-06-04
    listed $25,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,140
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$727
• Taxable income: $10,930
• Est. tax owed @ 24.0%: −$2,623
• After-tax cash flow: $8,054/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This mixed-use property requires extensive repairs and updates to its roof, exterior, interior, HVAC, and landscaping to become move-in ready and significantly increase its value.

Repairs flagged

• Major roof — No visible roof in the satellite image.
• Major exterior — No visible exterior in the satellite image.
• Major flooring — No visible interior or exterior flooring in the satellite image.
• Major interior walls/paint — No visible interior walls or paint in the satellite image.
• Major HVAC/mechanicals — No visible HVAC or mechanical systems in the satellite image.
• Major landscaping/curb appeal — No visible landscaping or curb appeal in the satellite image.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality.
• Both exterior painting and repairs — A fresh coat of paint and repairs to the exterior would enhance curb appeal and value.
• Both interior painting and repairs — Updating the interior paint and addressing any visible damage would improve the home's livability and appeal.
• Both HVAC system replacement — A new HVAC system would improve comfort and energy efficiency, enhancing both resale and rental value.
• Both landscaping and curb appeal improvements — A well-maintained landscape and curb appeal would attract potential buyers and renters, increasing the home's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible roof in the satellite image.	Major	$15,000–50,000
exterior · No visible exterior in the satellite image.	Major	$15,000–50,000
flooring · No visible interior or exterior flooring in the satellite image.	Major	$15,000–50,000
interior walls/paint · No visible interior walls or paint in the satellite image.	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC or mechanical systems in the satellite image.	Major	$15,000–50,000
landscaping/curb appeal · No visible landscaping or curb appeal in the satellite image.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality. ↑
• Both exterior painting and repairs — A fresh coat of paint and repairs to the exterior would enhance curb appeal and value. ↑
• Both interior painting and repairs — Updating the interior paint and addressing any visible damage would improve the home's livability and appeal. ↑
• Both HVAC system replacement — A new HVAC system would improve comfort and energy efficiency, enhancing both resale and rental value. ↑
• Both landscaping and curb appeal improvements — A well-maintained landscape and curb appeal would attract potential buyers and renters, increasing the home's value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Delaware County Community School District
• NCES district ID: 1930900
• Math proficiency: 73% ▼ -2.00%
• Reading proficiency: 81% ▲ 5.00%
• Median HH income: $52,373
• Composite: 65.37/100
• National rank: #484
• State rank: #49 of 289 in IA

Livability — Ryan

• Score: 64/100
• State rank: #636
• US rank: #14752

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ryan, IA
• Population (ZIP): 1,186

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 16,718 people
• By 2030: 16,267 · -2.7%
• By 2040: 15,277 · -8.6%
• By 2050: 14,198 · -15.1%
• By 2075: 12,804 · -23.4%
• By 2100: 11,678 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Iranian 3% Serbian 1% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Delaware

• 2024 margin: Solid R (+39.6) · D 29.4% · R 69.1% · Other 1.5%
• 2008→2024 swing: -45.6pp toward R · 2008: 6.0pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+35.1 2016: R+29.8 2012: R+0.2 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.81%
• Current HPI: 161.1306
• 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

1 event — show timeline

• 2026-06-04 Listed $25,000 FSBO.com