409 Main St · Alta, IA 51002

$55,000

3 bd · 1.0 ba · 1,168 sqft · SingleFamily public records · 12 Days on market

Built 1900

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits at 409 Main Street in Alta! This 3-bedroom, 1-bath home offers plenty of potential for investors, flippers, or buyers looking to build sweat equity. With 1,168 square feet of living space, this property is ready for someone with vision to bring it back to life. The home needs TLC and updates throughout but offers a solid opportunity at an affordable price point. Conveniently located in the heart of Alta, this property is being sold as-is and is priced accordingly. Whether you're looking for your next project or an investment property, this could be the one you've been waiting for.

Key facts

• Built 1900
• Listed 11 days

Property features AI

Exterior

• Utilities: Public water
• Exterior features: Concrete road access; Zoned residential

Interior

• Bedrooms: 3 main level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating
• Interior features: Resale condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).

Location & tenants

• Location reads 69/100 on livability (#391 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, health & safety D, amenities F.
• Market conditions: 164 units permitted in Buena Vista County in 2024 (71 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $6k appreciation (10.0% local appreciation)).
• Buena Vista County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $55,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.00% ✓
• Cap rate: 16.03%
• Cash-on-cash: 34.76%
• DSCR: 2.55
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $137,824
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 Cherokee St	0.15mi	3/2.0	1,194 (+2%)	2mo	$180,500	$151	84
410 Lake St	0.24mi	3/1.0	1,152 (-1%)	9mo	$165,000	$143	79
101 Benson St	0.43mi	3/1.5	1,178 (+1%)	0mo	$139,000	$118	76
314 W 3rd St	0.22mi	3/2.0	1,116 (-4%)	6mo	$123,711	$111	74
718 S Main St	0.24mi	2/1.0 (-1)	1,142 (-2%)	14mo	$123,500	$108	68
209 E 5th St	0.10mi	3/1.0	1,280 (+10%)	17mo	$140,000	$109	65
301 S Cherokee St	0.11mi	3/2.0	1,059 (-9%)	20mo	$168,500	$159	58
713 Division St	0.30mi	2/2.0 (-1)	1,268 (+9%)	8mo	$145,000	$114	56
606 Main St	0.14mi	2/2.0 (-1)	1,259 (+8%)	21mo	$165,000	$131	54
134 Benson St	0.40mi	2/1.5 (-1)	1,004 (-14%)	0mo	$145,000	$144	51
609 W 2nd St	0.43mi	4/2.0 (+1)	1,050 (-10%)	7mo	$120,000	$114	48

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: 50.9%
• Equity multiple: 4.79×
• Total profit: $58,408
• Equity at exit: $49,548

10-year hold

• IRR: 44.6%
• Equity multiple: 10.72×
• Total profit: $149,742
• Equity at exit: $106,853

Cash invested: $15,400 (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 51002

• Home prices YoY: 9.2%
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$110 /mo · $1,314/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $446

Break-even live

Break-even rent $533

Max offer price $55,000

Occupancy floor 54%

Sensitivity live

Price	-10% $477	-5% $462	+0% $446	+5% $431	+10% $415
Rent	-10% $359	-5% $403	+0% $446	+5% $489	+10% $533
Rate	-1.0pp $474	-0.5pp $460	base $446	+0.5pp $432	+1.0pp $417

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $55,000 Active 12 DOM
2. 2026-06-19
   days on market $55,000 Active 10 DOM
3. 2026-06-18
   days on market $55,000 Active 9 DOM
4. 2026-06-17
   days on market $55,000 Active 8 DOM
5. 2026-06-16
   days on market $55,000 Active 7 DOM
6. 2026-06-15
   price $55,000 Active 6 DOM
7. 2026-06-15
   days on market $65,000 Active 6 DOM
8. 2026-06-14
   days on market $65,000 Active 4 DOM
9. 2026-06-13
   days on market $65,000 Active 3 DOM
10. 2026-06-10
    remarks 606-char remark
11. 2026-06-10
    listed $65,000 Active 1 DOM

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

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $1,314 · $110/mo
• Projected year-2 tax: $1,314 · $110/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 · 15 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: $13,169
• − Mortgage interest: −$3,081
• − Property taxes: −$1,314
• − Insurance: −$275
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$1,600
• Taxable income: $4,792
• Est. tax owed @ 24.0%: −$1,150
• After-tax cash flow: $4,203/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)

No district data.

Livability — Alta

• Score: 69/100
• State rank: #391
• US rank: #8273

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alta, IA
• Population (ZIP): 2,866

Population outlook (Buena Vista County) Hauer SSP2

• Today (2025): 20,775 people
• By 2030: 21,101 · +1.6%
• By 2040: 21,955 · +5.7%
• By 2050: 23,202 · +11.7%
• By 2075: 27,159 · +30.7%
• By 2100: 29,578 · +42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 21% Asian 10% Black 6% Two or more races 5% Pacific Islander 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 4% Iranian 3% Ukrainian 2%
• Foreign-born: 19% · Canada, South Korea, Jamaica
• Languages at home: 67% English-only · Spanish 16% Other Asian/Pacific 12%

Political lean MEDSL · Buena Vista

• 2024 margin: Solid R (+33.3) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: -1.8pp · 2024: -33.3pp
• All cycles: 2024: R+33.3 2020: R+25.6 2016: R+25.0 2012: R+10.4 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.51%
• Current HPI: 266.2229
• 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

• 2026-06-09 Listed $65,000 DMMLS

Property tax history

+5.1%/yr

Latest (2025): $1,314 · +5.5% YoY. Source: county tax records.