302 N Elm St · Creston, IA 50801

$76,500

3 bd · 1.5 ba · 1,138 sqft · SingleFamily public records · 76 Days on market

Built 1888 3,485 sqft lot Est $112k · 31% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.5/10.0
• 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 is a nice three bedroom home with hardwood floors and steam heat. There's a closed in front porch and a large laundry room making it even more spacious. This house located close to town would be a great starter home or investment property.

Key facts

• Newer windows
• New roof
• 3,485 sq ft lot

Tags

• WALKING DISTANCE TO SHOPS
• WALKING DISTANCE TO BANKS
• NEWER WINDOWS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $72k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 $529 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $24k; list at $76k implies a 226% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,910 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.55% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.36%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $111,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 N Elm St	0.00mi	3/1.0	1,138 (0%)	1mo	$75,000	$66	98
103 N Sumner Ave	0.46mi	2/— (-1)	1,146 (+1%)	2mo	$11,000	$10	70
303 W Mills St	0.02mi	2/1.0 (-1)	997 (-12%)	1mo	$60,000	$60	70
606 N Elm St	0.27mi	3/1.0	1,004 (-12%)	1mo	$115,000	$115	65
707 N Birch St	0.50mi	3/1.0	1,064 (-6%)	3mo	$133,000	$125	61
606 S Elm St	0.63mi	3/2.0	1,172 (+3%)	3mo	$165,500	$141	61
1007 N Maple St	0.61mi	3/2.0	1,180 (+4%)	3mo	$163,500	$139	61
208 N Cherry St	0.37mi	3/1.0	989 (-13%)	0mo	$50,000	$51	59
501 N Mulberry St	0.55mi	2/1.0 (-1)	1,194 (+5%)	2mo	$103,000	$86	58
905 W Montgomery St	0.49mi	2/1.0 (-1)	1,018 (-10%)	2mo	$181,500	$178	51
505 N Chestnut St	0.62mi	2/1.0 (-1)	1,227 (+8%)	1mo	$85,000	$69	50
509 W Buckeye St	0.73mi	2/1.0 (-1)	1,016 (-11%)	3mo	$100,000	$98	39

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: 15.2%
• Equity multiple: 1.61×
• Total profit: $13,053
• Equity at exit: $11,406

10-year hold

• IRR: 23.9%
• Equity multiple: 3.06×
• Total profit: $44,205
• Equity at exit: $6,614

Cash invested: $21,420 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$401
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $399

Break-even live

Break-even rent $682

Max offer price $76,500

Occupancy floor 61%

Sensitivity live

Price	-10% $443	-5% $421	+0% $399	+5% $378	+10% $356
Rent	-10% $305	-5% $352	+0% $399	+5% $446	+10% $493
Rate	-1.0pp $438	-0.5pp $419	base $399	+0.5pp $379	+1.0pp $359

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: $19,125
• Closing costs: $2,295
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-20
   status Pending
2. 2026-04-12
   historical Active Under Contract
3. 2026-02-03
   listed $76,500 Active
4. 2016-12-05
   soldstatus $23,500
5. 2016-12-02
   soldstatus $23,500 244-char remark

   Show marketing remark (244 chars)

   This is a nice three bedroom home with hardwood floors and steam heat. There's a closed in front porch and a large laundry room making it even more spacious. This house located close to town would be a great starter home or investment property.

6. 2016-11-01
   listed $27,500 244-char remark

   Show marketing remark (244 chars)

   This is a nice three bedroom home with hardwood floors and steam heat. There's a closed in front porch and a large laundry room making it even more spacious. This house located close to town would be a great starter home or investment property.

7. 2006-08-14
   soldstatus $25,000

ⓘ 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: $1,272 · $106/mo
• Projected year-2 tax: $1,272 · $106/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 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: $14,252
• − Mortgage interest: −$4,285
• − Property taxes: −$1,272
• − Insurance: −$382
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$2,225
• Taxable income: $3,806
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $3,877/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

+206.0% since first listed

7 events — show timeline

• 2026-04-20 Pending — IAR
• 2026-04-12 Contingent — IAR
• 2026-02-03 Listed $76,500 IAR
• 2016-12-05 Sold (Public Records) $23,500 Public Records
• 2016-12-02 Sold (MLS) $23,500 IAR
• 2016-11-01 Listed $27,500 IAR
• 2006-08-14 Sold (Public Records) $25,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,272 · +33.1% YoY. Source: county tax records.