809 Goldenshores · Creston, IA 50801

$89,900

3 bd · 2.0 ba · 484 sqft · Manufactured public records · 103 Days on market

Built 2002 $186/sqft · 883% above area

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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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +5.5/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Golden opportunity will not last long!! Manufactured home located in the heart of Golden Shores a 55+ community. Access to the pond for Residents who enjoy fishing!! This home has an open floor plan with lots of natural light and neutral tones throughout. Large Living Room that is open to Kitchen with island seating and additional eating area that opens onto the front covered deck - great for barbecuing! Lots of cabinetry for storage and Appliances are included. Master Bedroom with walk-in closet and ensuite with garden tub, walk-in shower & double Vanity. Two Additional Bedrooms and full bathroom for guests. Laundry Room with storage and access to attached two car garage. Garage has windows and exit door to back yard area. Front porch and deck is great for enjoying the outdoors and inviting for neighbors to stop and chat!! Call today to schedule your showing - available immediately and move-in ready!!

Key facts

• Access to pond
• Open floor plan
• Lots of cabinetry

Tags

• ACCESS TO POND
• OPEN FLOOR PLAN
• LARGE LIVING ROOM
• KITCHEN WITH ISLAND SEATING
• FRONT COVERED DECK
• LOTS OF CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/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 $89k (1.0% below list).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.6% in Creston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 78 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $90k implies a 1099% gain — meaningful room to come down on a strong offer.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.99% ✗
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 8.4

CMA / ARV

• ARV (median comp): $31,733
• List price: $89,900
• Delta: 183.30%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-4,424
• Equity at exit: $13,404

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $9,114
• Equity at exit: $7,773

Cash invested: $25,172 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 78
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $890 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$34 /mo · $414/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $160

Break-even live

Break-even rent $688

Max offer price $89,900

Occupancy floor 77%

Sensitivity live

Price	-10% $211	-5% $185	+0% $160	+5% $134	+10% $109
Rent	-10% $89	-5% $125	+0% $160	+5% $195	+10% $230
Rate	-1.0pp $205	-0.5pp $183	base $160	+0.5pp $137	+1.0pp $113

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $89,900 Active 103 DOM
2. 2026-06-18
   days on market $89,900 Active 101 DOM
3. 2026-06-17
   days on market $89,900 Active 100 DOM
4. 2026-06-16
   days on market $89,900 Active 99 DOM
5. 2026-06-15
   days on market $89,900 Active 98 DOM
6. 2026-06-13
   days on market $89,900 Active 96 DOM
7. 2026-06-12
   days on market $89,900 Active 95 DOM
8. 2026-06-09
   days on market $89,900 Active 92 DOM
9. 2026-06-08
   days on market $89,900 Active 91 DOM
10. 2026-06-07
    days on market $89,900 Active 90 DOM
11. 2026-06-07
    days on market $89,900 Active 89 DOM
12. 2026-06-04
    days on market $89,900 Active 86 DOM
13. 2026-06-02
    days on market $89,900 Active 85 DOM
14. 2026-06-01
    days on market $89,900 Active 84 DOM
15. 2026-05-31
    days on market $89,900 Active 83 DOM
16. 2026-05-31
    days on market $89,900 Active 82 DOM
17. 2026-03-10
    listed $89,900 Active 931-char remark

    Show marketing remark (931 chars)

    This Golden opportunity will not last long!! Manufactured home located in the heart of Golden Shores a 55+ community. Access to the pond for Residents who enjoy fishing!! This home has an open floor plan with lots of natural light and neutral tones throughout. Large Living Room that is open to Kitchen with island seating and additional eating area that opens onto the front covered deck - great for barbecuing! Lots of cabinetry for storage and Appliances are included. Master Bedroom with walk-in closet and ensuite with garden tub, walk-in shower & double Vanity. Two Additional Bedrooms and full bathroom for guests. Laundry Room with storage and access to attached two car garage. Garage has windows and exit door to back yard area. Front porch and deck is great for enjoying the outdoors and inviting for neighbors to stop and chat!! Call today to schedule your showing - available immediately and move-in ready!!

18. 2013-05-06
    soldstatus $7,500

ⓘ 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: $414 · $34/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$499/yr (+$42/mo · 120.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,682
• − Mortgage interest: −$5,036
• − Property taxes: −$414
• − Insurance: −$450
• − Repairs & maintenance: −$855
• − Management: −$855
• − Depreciation: −$2,615
• Taxable income: $458
• Est. tax owed @ 24.0%: −$110
• After-tax cash flow: $1,808/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

+1098.7% since first listed

2 events — show timeline

• 2026-03-10 Listed $89,900 IAR
• 2013-05-06 Sold (Public Records) $7,500 Public Records

Property tax history

+2.8%/yr

Latest (2025): $414 · +2.5% YoY. Source: county tax records.