1010 Cedar St · Atlantic, IA 50022

$90,000

3 bd · 2.0 ba · 2,413 sqft · SingleFamily public records · 23 Days on market

Built 1978

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Why this score? — see what drove the B- 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1010 Cedar St, where the exterior charm immediately stands out! This home offers beautiful curb appeal with an inviting façade that makes a strong first impression. From the street, you'll appreciate the character and presence this property brings to the neighborhood. Inside, the home is ready for your vision. The interior needs TLC, making it a great opportunity for investors, renovators, or buyers looking to build equity with updates and personal touches. With solid bones and a desirable exterior, this property has the potential to truly shine with the right improvements. Whether you're looking for your next project or a home you can customize to your taste, 1010 Cedar S

Key facts

• Garage
• Built 1978
• Listed 23 days

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.0% in Atlantic — 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 74/100 on livability (#243 in IA, #4,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, amenities F, commute F.
• Atlantic Community School District (town): math 68% / reading 72% proficiency, ranked #155 of 289 in IA (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Schuler Elementary School (math 62% / reading 72%, grade B+, #273 of 616 statewide, top 51%, 226 students, 40% FRL); Atlantic Middle School (math 71% / reading 74%, grade A, #90 of 246 statewide, top 38%, 329 students, 40% FRL); Atlantic High School (math 65% / reading 76%, grade B+, #140 of 336 statewide, top 43%, 485 students, 39% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 49 active listings in the ZIP; 14 units permitted in Cass 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.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.29% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.03%
• DSCR: 1.49
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $212,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1201 Locust St	0.09mi	4/1.5 (+1)	2,385 (-1%)	9mo	$265,000	$111	79
906 Locust St	0.11mi	4/1.5 (+1)	2,634 (+9%)	1mo	$245,000	$93	72
909 Poplar St	0.13mi	4/2.5 (+1)	2,665 (+10%)	10mo	$195,000	$73	61
1314 Chestnut St	0.32mi	4/2.0 (+1)	2,654 (+10%)	3mo	$167,500	$63	61
204 E 10th St	0.38mi	3/2.0	2,206 (-9%)	12mo	$110,000	$50	58
511 E 5th St	0.73mi	4/1.5 (+1)	2,424 (+0%)	6mo	$85,000	$35	53
1402 Chestnut St	0.34mi	4/2.0 (+1)	2,157 (-11%)	10mo	$190,000	$88	53
1824 Bryn Mawr Cir	0.67mi	3/2.5	2,275 (-6%)	7mo	$228,000	$100	51
505 Maple St	0.55mi	4/2.0 (+1)	2,156 (-11%)	3mo	$168,000	$78	50
1806 Sycamore Ave	0.64mi	4/2.0 (+1)	2,144 (-11%)	5mo	$200,000	$93	42
10 Fair Ridge Cir	0.70mi	2/2.0 (-1)	2,086 (-14%)	2mo	$130,000	$62	38
1405 Olive St	0.75mi	4/2.5 (+1)	2,071 (-14%)	7mo	$184,500	$89	29

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

Projected returns pro-forma

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

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $223
• Equity at exit: $13,419

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $19,413
• Equity at exit: $7,782

Cash invested: $25,200 (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 50022

• Home prices YoY: -28.8%
• Active inventory: 49
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $232

Break-even live

Break-even rent $864

Max offer price $90,000

Occupancy floor 75%

Sensitivity live

Price	-10% $283	-5% $257	+0% $232	+5% $206	+10% $181
Rent	-10% $140	-5% $186	+0% $232	+5% $277	+10% $323
Rate	-1.0pp $277	-0.5pp $255	base $232	+0.5pp $208	+1.0pp $185

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-03-16
   status Pending
2. 2026-02-19
   listed $90,000 Active

ⓘ 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: $2,074 · $173/mo
• Projected year-2 tax: $2,074 · $173/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,883
• − Mortgage interest: −$5,041
• − Property taxes: −$2,074
• − Insurance: −$450
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,618
• Taxable income: $1,478
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $2,425/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: Atlantic Community School District
• NCES district ID: 1903930
• Math proficiency: 68% ▬ 0.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $41,877
• Composite: 58.58/100
• National rank: #987
• State rank: #155 of 289 in IA

Livability — Atlantic

• Score: 74/100
• State rank: #243
• US rank: #4704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic, IA
• City population: 8,472
• Population (ZIP): 8,472

Population outlook (Cass County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 11,911 · -4.3%
• By 2040: 10,904 · -12.4%
• By 2050: 10,005 · -19.7%
• By 2075: 8,030 · -35.5%
• By 2100: 5,865 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+40.7) · D 28.9% · R 69.6% · Other 1.5%
• 2008→2024 swing: -29.9pp toward R · 2008: -10.8pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+38.0 2016: R+39.8 2012: R+18.9 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.62%
• Current HPI: 162.2127
• 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

2 events — show timeline

• 2026-03-16 Pending — SWIAR
• 2026-02-19 Listed $90,000 SWIAR

Property tax history

-0.1%/yr

Latest (2025): $2,074 · +44.4% YoY. Source: county tax records.