412 Indiana Ave · Iowa Falls, IA 50126

$144,900

3 bd · 2.0 ba · 1,638 sqft · SingleFamily public records · 23 Days on market

Built 1965 0.31 ac lot Est $154k · 6% under

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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).

• Cash flow +13.4/30.0
• ARV discount +10.2/15.0
• Schools +5.6/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Very nice split level home in a great location. This home features a nicely renovated kitchen, dining room and living room on the main floor. Upstairs you will find three bedrooms, full bathroom. In the lower level there is a nice family room, laundry, 3/4 bathroom and storage area. Be sure to put this home on your viewing list!!

Key facts

• Living room
• Renovated kitchen
• Family room

Tags

• RENOVATED KITCHEN
• DINING ROOM
• LIVING ROOM
• FAMILY ROOM
• LAUNDRY
• STORAGE AREA

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Concrete driveway; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Block, frame, and vinyl siding construction; Foundation area 1,138; Above-grade finished area 1,138; Below-grade finished area 500
• Exterior features: Shingle roof; Public-maintained road frontage on a city street; Lot approximately 99 x 134 (0.31 acres); Residential-single family zoning

Interior

• Kitchen: Range, Cooktop, Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Radiant heating; Central air conditioning
• Interior features: Basement; Range, Cooktop, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $3 ($39/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 $118k (18.5% below list).
• Recommended offer: $118k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.8% in Iowa Falls — 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 77/100 on livability (#172 in IA, #3,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Iowa Falls Community School District (town): math 62% / reading 71% proficiency, ranked #184 of 289 in IA (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Rock Run Elementary (math 70% / reading 68%, grade A-, #263 of 616 statewide, top 43%, 294 students, 42% FRL); Riverbend Middle School (math 56% / reading 65%, grade B+, #183 of 246 statewide, top 75%, 288 students, 42% FRL); Iowa Falls - Alden High School (math 60% / reading 78%, grade B, #176 of 336 statewide, top 53%, 412 students, 35% FRL).
• Market conditions: 92 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.

Recommended offer $118,078 (18.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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?
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: 0.81% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $153,972
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2220 Washington Ave	0.21mi	3/2.0	1,516 (-7%)	0mo	$174,000	$115	77
120 Carson Ave	0.27mi	3/2.0	1,562 (-5%)	10mo	$110,000	$70	71
2513 Sunset Dr	0.44mi	3/2.0	1,716 (+5%)	1mo	$189,900	$111	71
441 Lincoln Ave	0.30mi	3/1.5	1,749 (+7%)	4mo	$130,800	$75	70
2410 Linden Ave	0.37mi	4/2.0 (+1)	1,720 (+5%)	8mo	$162,000	$94	63
315 Weyrauch Rd	0.29mi	3/2.0	1,840 (+12%)	7mo	$122,500	$67	60
330 Jason Ave	0.39mi	2/1.0 (-1)	1,557 (-5%)	8mo	$131,500	$84	58
311 Hawthorne Rd	0.35mi	3/3.0	1,760 (+7%)	11mo	$200,000	$114	58
2506 Linden Ave	0.43mi	2/2.5 (-1)	1,558 (-5%)	10mo	$145,000	$93	57
111 Slayton	0.31mi	3/2.0	1,872 (+14%)	11mo	$222,000	$119	52
218 Sarah	0.57mi	2/2.0 (-1)	1,556 (-5%)	11mo	$177,500	$114	51
246 Sarah Ave	0.52mi	4/1.0 (+1)	1,456 (-11%)	10mo	$95,000	$65	40

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: -16.2%
• Equity multiple: 0.43×
• Total profit: $-23,300
• Equity at exit: $21,605

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-20,131
• Equity at exit: $12,528

Cash invested: $40,572 (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 50126

• Active inventory: 92
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $3

Break-even live

Break-even rent $1,177

Max offer price $144,900

Occupancy floor 95%

Sensitivity live

Price	-10% $85	-5% $44	+0% $3	+5% $-38	+10% $-79
Rent	-10% $-90	-5% $-43	+0% $3	+5% $50	+10% $97
Rate	-1.0pp $76	-0.5pp $40	base $3	+0.5pp $-34	+1.0pp $-73

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   status $144,900 Pending 23 DOM
2. 2026-06-18
   days on market $144,900 Active Under Contract 23 DOM
3. 2026-06-17
   days on market $144,900 Active Under Contract 22 DOM
4. 2026-06-16
   days on market $144,900 Active Under Contract 21 DOM
5. 2026-06-15
   days on market $144,900 Active Under Contract 20 DOM
6. 2026-06-13
   days on market $144,900 Active Under Contract 18 DOM
7. 2026-06-12
   days on market $144,900 Active Under Contract 17 DOM
8. 2026-06-09
   days on market $144,900 Active Under Contract 14 DOM
9. 2026-06-08
   days on market $144,900 Active Under Contract 13 DOM
10. 2026-06-07
    days on market $144,900 Active Under Contract 12 DOM
11. 2026-06-07
    days on market $144,900 Active Under Contract 11 DOM
12. 2026-06-04
    days on market $144,900 Active Under Contract 8 DOM
13. 2026-06-02
    days on market $144,900 Active Under Contract 7 DOM
14. 2026-06-01
    days on market $144,900 Active Under Contract 6 DOM
15. 2026-05-31
    days on market $144,900 Active Under Contract 5 DOM
16. 2026-05-31
    statusdays on market $144,900 Active Under Contract 4 DOM
17. 2026-05-26
    listed $144,900 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: $1,312 · $109/mo
• Projected year-2 tax: $1,793 · $149/mo
• Expected delta: +$481/yr (+$40/mo · 36.7%)

ⓘ 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 ≥101°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: $14,169
• − Mortgage interest: −$8,117
• − Property taxes: −$1,312
• − Insurance: −$724
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$4,215
• Taxable loss: −$2,466
• Est. tax savings @ 24.0%: +$592
• After-tax cash flow: $631/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: Iowa Falls Community School District
• NCES district ID: 1914730
• Math proficiency: 62% ▼ -9.00%
• Reading proficiency: 71% ▼ -5.00%
• Median HH income: $46,696
• Composite: 56.12/100
• National rank: #1182
• State rank: #184 of 289 in IA

Livability — Iowa Falls

• Score: 77/100
• State rank: #172
• US rank: #3097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Falls, IA
• City population: 6,362
• Population (ZIP): 6,362

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 2% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Portuguese 6% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.54%
• Current HPI: 146.3741
• 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

• 2026-05-26 Listed $144,900 IAR

Property tax history

-1.8%/yr

Latest (2025): $1,312 · +5.3% YoY. Source: county tax records.