92 Wildcat Trl SW · Shellsburg, IA 52332

$150,000

2 bd · 2.0 ba · 1,206 sqft · Condo public records

Built 2000

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Why this score? — see what drove the D 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).

• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +6.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.4/10.0

Key facts

• 2 garage spots
• Built 2000

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (23.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (30.6% below list).
• Recommended offer: $104k (30.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#344 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• Vinton-Shellsburg Community School District (rural): math 79% / reading 77% proficiency, ranked #43 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Shellsburg Elementary School (math 87% / reading 72%, grade A, #71 of 616 statewide, top 15%, 234 students, 42% FRL); Vinton-Shellsburg Middle School (math 83% / reading 81%, grade A+, #22 of 246 statewide, top 12%, 318 students, 42% FRL); Vinton-Shellsburg High School (math 72% / reading 80%, grade A-, #75 of 336 statewide, top 23%, 425 students, 35% FRL).
• Market conditions: 16 active listings in the ZIP; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (6.2% local appreciation)).
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $95k; list at $150k implies a 58% gain — meaningful room to come down on a strong offer.

Recommended offer $104,147 (30.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.78%
• DSCR: 0.74
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.77×
• Total profit: $32,148
• Equity at exit: $96,114

10-year hold

• IRR: 12.1%
• Equity multiple: 3.48×
• Total profit: $104,225
• Equity at exit: $175,888

Cash invested: $42,000 (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 52332

• Home prices YoY: 3.2%
• Active inventory: 16
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,041 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $-202

Break-even live

Break-even rent $1,297

Max offer price $114,283

Occupancy floor —

Sensitivity live

Price	-10% $-117	-5% $-160	+0% $-202	+5% $-245	+10% $-287
Rent	-10% $-284	-5% $-243	+0% $-202	+5% $-161	+10% $-120
Rate	-1.0pp $-127	-0.5pp $-164	base $-202	+0.5pp $-241	+1.0pp $-281

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-04
   listed $150,000
2. 2026-05-04
   historical
3. 2013-11-04
   soldstatus $95,000
4. 2002-06-17
   soldstatus $114,900

ⓘ 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: $2,110 · $176/mo
• Projected year-2 tax: $2,232 · $186/mo
• Expected delta: +$122/yr (+$10/mo · 5.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,498
• − Mortgage interest: −$8,402
• − Property taxes: −$2,110
• − Insurance: −$750
• − Repairs & maintenance: −$1,000
• − Management: −$1,000
• − Depreciation: −$4,364
• Taxable loss: −$5,128
• Est. tax savings @ 24.0%: +$1,231
• After-tax cash flow: $-1,196/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: Vinton-Shellsburg Community School District
• NCES district ID: 1929310
• Math proficiency: 79% ▼ -6.00%
• Reading proficiency: 77% ▼ -1.00%
• Median HH income: $52,023
• Composite: 66.21/100
• National rank: #430
• State rank: #43 of 289 in IA

Livability — Shellsburg

• Score: 71/100
• State rank: #344
• US rank: #7017

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shellsburg, IA
• Population (ZIP): 1,638

Population outlook (Benton County) Hauer SSP2

• Today (2025): 25,078 people
• By 2030: 24,606 · -1.9%
• By 2040: 23,425 · -6.6%
• By 2050: 21,891 · -12.7%
• By 2075: 19,482 · -22.3%
• By 2100: 17,139 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.3%
• 2008→2024 swing: -37.7pp toward R · 2008: 4.5pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+27.5 2016: R+26.0 2012: R+0.6 2008: D+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.19%
• Current HPI: 202.2662
• 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

+30.5% since first listed

4 events — show timeline

• 2026-05-04 Delisted — CRAAR, CDRMLS
• 2026-05-04 Listed $150,000 CRAAR, CDRMLS
• 2013-11-04 Sold (Public Records) $95,000 Public Records
• 2002-06-17 Sold (Public Records) $114,900 Public Records

Property tax history

+0.0%/yr

Latest (2025): $2,110 · -3.9% YoY. Source: county tax records.