1516 Crawford St · Boone, IA 50036

$22,000

1 bd · 1.0 ba · 478 sqft · SingleFamily public records · 39 Days on market

Built 1920 $46/sqft · 77% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 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

An opportunity with multiple paths forward--this property is being offered primarily as a buildable lot with existing improvements. The structure currently on site includes a foundation wall that will require significant repair or replacement, making redevelopment the most likely path for many buyers. The home is currently occupied by a tenant, providing short-term rental income potential for investors considering their options during planning and permitting. While renovation may be possible, the property is best suited for those looking to remove the existing structure and build new or redevelop the site to maximize its highest and best use. Located in an established area, this parcel offers a rare chance to start fresh--whether that means constructing a new home, investment property, or long-term hold in a desirable location. Being sold in its current condition. Buyers to perform all due diligence regarding structural condition, demolition, zoning, and redevelopment possibilities.

Key facts

• Buildable lot
• Desirable location
• Redevelop the site

Tags

• BUILDABLE LOT
• EXISTING IMPROVEMENTS
• FOUNDATION WALL
• SHORT-TERM RENTAL INCOME
• REDEVELOP THE SITE
• DESIRABLE LOCATION

Property features AI

Exterior

• Parking: Detached one-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story property
• Exterior features: Residential zoning

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air gas heating; Window cooling unit(s)
• Interior features: Single-story layout

🏷️ Possibly a rental listed for sale. The $22,000 price doesn't fit this home's estimated sale value (~$97,724) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($791 rent vs $22k).
• Recommended offer: $21k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.7% vs local median 3.7% in Boone — 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 79/100 on livability (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklin Elementary School (math 75% / reading 69%, grade A-, #181 of 616 statewide, top 34%, 357 students, 41% FRL); Boone Middle School (math 48% / reading 63%, grade B-, #199 of 246 statewide, top 81%, 582 students, 39% FRL); Boone High School (math 60% / reading 69%, grade B-, #211 of 336 statewide, top 70%, 711 students, 36% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 216 active listings in the ZIP; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $6k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $22k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,340 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.60% ✓
• Cap rate: 28.74%
• Cash-on-cash: 80.17%
• DSCR: 4.57
• GRM: 2.3

CMA / ARV

• ARV (median comp): $97,724
• List price: $22,000
• Delta: -77.49%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1228 Division St	0.37mi	1/1.0	480 (+0%)	12mo	$105,000	$219	72
522 Greene St	0.72mi	1/2.0	520 (+9%)	18mo	$147,900	$284	33

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: 80.4%
• Equity multiple: 4.68×
• Total profit: $22,697
• Equity at exit: $3,280

10-year hold

• IRR: 83.9%
• Equity multiple: 9.72×
• Total profit: $53,719
• Equity at exit: $1,902

Cash invested: $6,160 (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 50036

• Home prices YoY: -27.1%
• Active inventory: 216
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $791 medium
• Mortgage (P&I): −$115
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $412

Break-even live

Break-even rent $270

Max offer price $22,000

Occupancy floor 43%

Sensitivity live

Price	-10% $488	-5% $481	+0% $412	+5% $405	+10% $399
Rent	-10% $349	-5% $380	+0% $412	+5% $443	+10% $474
Rate	-1.0pp $423	-0.5pp $417	base $412	+0.5pp $406	+1.0pp $400

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   statusdays on market $22,000 Pending 39 DOM

   Show marketing remark (1104 chars)

   An opportunity with multiple paths forward--this property is being offered primarily as a buildable lot with existing improvements. The structure currently on site includes a foundation wall that will require significant repair or replacement, making redevelopment the most likely path for many buyers. The home is currently occupied by a tenant, providing short-term rental income potential for investors considering their options during planning and permitting. While renovation may be possible, the property is best suited for those looking to remove the existing structure and build new or redevelop the site to maximize its highest and best use. Located in an established area, this parcel offers a rare chance to start fresh--whether that means constructing a new home, investment property, or long-term hold in a desirable location. Being sold in its current condition. Buyers to perform all due diligence regarding structural condition, demolition, zoning, and redevelopment possibilities. Rent payment: $600.00 a month Garbage, City of Boone utilities, and Alliant Energy are paid By landlord

2. 2026-06-08
   days on market $22,000 Active 38 DOM
3. 2026-06-07
   days on market $22,000 Active 37 DOM
4. 2026-06-05
   days on market $22,000 Active 35 DOM
5. 2026-06-04
   days on market $22,000 Active 33 DOM
6. 2026-06-02
   days on market $22,000 Active 32 DOM
7. 2026-06-01
   days on market $22,000 Active 31 DOM
8. 2026-05-31
   days on market $22,000 Active 30 DOM
9. 2026-05-31
   days on market $22,000 Active 29 DOM
10. 2026-05-01
    listed $27,500 Active 1104-char remark

    Show marketing remark (1104 chars)

    An opportunity with multiple paths forward--this property is being offered primarily as a buildable lot with existing improvements. The structure currently on site includes a foundation wall that will require significant repair or replacement, making redevelopment the most likely path for many buyers. The home is currently occupied by a tenant, providing short-term rental income potential for investors considering their options during planning and permitting. While renovation may be possible, the property is best suited for those looking to remove the existing structure and build new or redevelop the site to maximize its highest and best use. Located in an established area, this parcel offers a rare chance to start fresh--whether that means constructing a new home, investment property, or long-term hold in a desirable location. Being sold in its current condition. Buyers to perform all due diligence regarding structural condition, demolition, zoning, and redevelopment possibilities. Rent payment: $600.00 a month Garbage, City of Boone utilities, and Alliant Energy are paid By landlord

11. 2026-05-01
    listed $27,500 Active 997-char remark

    Show marketing remark (1104 chars)

    An opportunity with multiple paths forward--this property is being offered primarily as a buildable lot with existing improvements. The structure currently on site includes a foundation wall that will require significant repair or replacement, making redevelopment the most likely path for many buyers. The home is currently occupied by a tenant, providing short-term rental income potential for investors considering their options during planning and permitting. While renovation may be possible, the property is best suited for those looking to remove the existing structure and build new or redevelop the site to maximize its highest and best use. Located in an established area, this parcel offers a rare chance to start fresh--whether that means constructing a new home, investment property, or long-term hold in a desirable location. Being sold in its current condition. Buyers to perform all due diligence regarding structural condition, demolition, zoning, and redevelopment possibilities. Rent payment: $600.00 a month Garbage, City of Boone utilities, and Alliant Energy are paid By landlord

12. 2026-05-01
    listed $27,500 Active

    Show marketing remark (1104 chars)

    An opportunity with multiple paths forward--this property is being offered primarily as a buildable lot with existing improvements. The structure currently on site includes a foundation wall that will require significant repair or replacement, making redevelopment the most likely path for many buyers. The home is currently occupied by a tenant, providing short-term rental income potential for investors considering their options during planning and permitting. While renovation may be possible, the property is best suited for those looking to remove the existing structure and build new or redevelop the site to maximize its highest and best use. Located in an established area, this parcel offers a rare chance to start fresh--whether that means constructing a new home, investment property, or long-term hold in a desirable location. Being sold in its current condition. Buyers to perform all due diligence regarding structural condition, demolition, zoning, and redevelopment possibilities. Rent payment: $600.00 a month Garbage, City of Boone utilities, and Alliant Energy are paid By landlord

13. 2007-07-26
    soldstatus $13,100
14. 2007-01-12
    listed $14,700

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $1,068 · $89/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 3/10 Moderate 7 d/yr ≥102°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: $9,495
• − Mortgage interest: −$1,232
• − Property taxes: −$1,068
• − Insurance: −$110
• − Repairs & maintenance: −$760
• − Management: −$760
• − Depreciation: −$640
• Taxable income: $4,926
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $3,757/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: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• 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

+49.7% since first listed

11 events — show timeline

• 2026-06-09 Pending — IAR
• 2026-06-09 Pending — CIBOR
• 2026-06-09 Pending — DMMLS
• 2026-05-28 Price Changed $22,000 CIBOR
• 2026-05-28 Price Changed $22,000 IAR
• 2026-05-28 Price Changed $22,000 DMMLS
• 2026-05-01 Listed $27,500 DMMLS
• 2026-05-01 Listed $27,500 CIBOR
• 2026-05-01 Listed $27,500 IAR
• 2007-07-26 Sold (MLS) $13,100 DMMLS
• 2007-01-12 Listed $14,700 DMMLS

Property tax history

+3.3%/yr

Latest (2025): $1,068 · +3.9% YoY. Source: county tax records.