1024 S 3rd Ave E · Newton, IA 50208

$87,500

2 bd · 1.0 ba · 732 sqft · SingleFamily public records · 22 Days on market

Built 1900 8,712 sqft lot Est $143k · 39% under

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Why this score? — see what drove the C- 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 +16.0/30.0
• ARV discount +15.0/15.0
• Schools +5.1/10.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you've been collecting cottage-core inspiration boards, dreaming of fresh flowers, garden paths, and a cozy place to call your own, this charming little home might be your perfect match. This adorable 1-bedroom cottage is packed with character and updates, including a new roof, new flooring, and a recently renovated kitchen that's ready for everything from morning coffee to ambitious pie-baking projects. Set on a large corner lot, there's plenty of room for gardening, relaxing, entertaining, or simply enjoying a little extra elbow room. Established perennial landscaping provides colorful blooms throughout the growing season and keeps the yard looking cheerful year after year. Cute, cozy,

Key facts

• Large corner lot
• New flooring
• Renovated kitchen

Tags

• NEW ROOF
• NEW FLOORING
• RENOVATED KITCHEN
• LARGE CORNER LOT
• PERENNIAL LANDSCAPING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Wood-siding exterior
• Construction: Asphalt shingle roof; Brick/mortar and stone foundation; Built with wood siding
• Exterior features: Deck; Storage

Interior

• Kitchen: Dishwasher; Stove; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $43 ($518/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 $81k (6.9% below list).
• Recommended offer: $81k (6.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.1% in Newton — 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 (#169 in IA, #3,069 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Newton Community School District (town): math 59% / reading 62% proficiency, ranked #245 of 289 in IA (top 85%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 242 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,496 (6.9% below list)

Questions for the listing agent

1. Built in 1900 — 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 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?
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: 0.93% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $142,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 E 8th St S	0.20mi	2/1.0	702 (-4%)	8mo	$130,000	$185	78
709 E 9th St S	0.34mi	2/1.0	704 (-4%)	2mo	$145,900	$207	76
314 E 14th St N	0.39mi	2/1.0	720 (-2%)	6mo	$148,000	$206	74
1108 N 6th Ave E	0.45mi	2/1.5	720 (-2%)	1mo	$134,500	$187	73
2 Bungalow Ct	0.13mi	2/1.0	816 (+12%)	4mo	$60,000	$74	72
201 E 13th St N	0.23mi	2/1.0	816 (+12%)	0mo	$125,000	$153	70
207 E 16th St N	0.48mi	2/1.0	720 (-2%)	8mo	$160,000	$222	69
408 E 21st St S	0.72mi	2/1.0	732 (0%)	0mo	$156,000	$213	66
512 E 19th St S	0.64mi	2/1.0	786 (+7%)	1mo	$153,000	$195	56
1421 N 4th Ave E	0.45mi	3/1.0 (+1)	812 (+11%)	7mo	$150,000	$185	50
806 E 12th St N	0.64mi	3/1.0 (+1)	792 (+8%)	6mo	$157,000	$198	46
1112 N 8th Ave E	0.60mi	3/1.0 (+1)	816 (+12%)	2mo	$140,000	$172	46

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-11,420
• Equity at exit: $13,047

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-6,364
• Equity at exit: $7,565

Cash invested: $24,500 (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 50208

• Home prices YoY: -14.4%
• Active inventory: 242
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $815 high
• Mortgage (P&I): −$459
• Tax from tax record: −$105 /mo · $1,264/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $43

Break-even live

Break-even rent $760

Max offer price $87,500

Occupancy floor 90%

Sensitivity live

Price	-10% $93	-5% $68	+0% $43	+5% $18	+10% $-6
Rent	-10% $-21	-5% $11	+0% $43	+5% $75	+10% $108
Rate	-1.0pp $87	-0.5pp $65	base $43	+0.5pp $20	+1.0pp $-3

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 E 5th St S Newton, IA	1.0	1.0	550	$599	$1.09	24d	1	0.42mi
427 N 2nd Ave E Newton, IA	1.0	1.0	575	$599	$1.04	44d	1	0.47mi
723 E 6th St S Newton, IA	2.0	1.0	650	$775	$1.19	44d	1	0.49mi
605 E 7 1/2 St N Newton, IA	2.0	1.0	672	$1,200	$1.79	44d	1	0.50mi
726 E 8th St N Newton, IA	1.0	1.0	708	$895	$1.26	15d	1	0.58mi
602 E 2nd St S Newton, IA	2.0	1.0	750	$775	$1.03	44d	1	0.67mi
1026 E 12th St N Newton, IA	1.0	1.0	590	$625	$1.06	22d	1	0.78mi
320 W 3rd St N Unit 207 Newton, IA	1.0	1.0	609	$1,050	$1.72	44d	1	0.86mi
706 S 2nd Ave W Unit 706 Newton, IA	1.0	1.0	550	$625	$1.14	44d	1	1.13mi
1800 W 4th St N Newton, IA	1.0–3.0	1.0–2.0	792	$840	$1.06	15d	7	1.45mi

Listing history 17 events

1. 2026-06-21
   days on market $87,500 Active 22 DOM
2. 2026-06-18
   days on market $87,500 Active 19 DOM
3. 2026-06-17
   days on market $87,500 Active 18 DOM
4. 2026-06-16
   days on market $87,500 Active 17 DOM
5. 2026-06-15
   days on market $87,500 Active 16 DOM
6. 2026-06-14
   days on market $87,500 Active 14 DOM
7. 2026-06-13
   days on market $87,500 Active 13 DOM
8. 2026-06-10
   days on market $87,500 Active 11 DOM
9. 2026-06-09
   days on market $87,500 Active 10 DOM
10. 2026-06-08
    days on market $87,500 Active 9 DOM
11. 2026-06-07
    days on market $87,500 Active 8 DOM
12. 2026-06-05
    days on market $87,500 Active 5 DOM
13. 2026-06-03
    days on market $87,500 Active 4 DOM
14. 2026-06-02
    days on market $87,500 Active 3 DOM
15. 2026-06-01
    days on market $87,500 Active 2 DOM
16. 2026-05-31
    remarks 699-char remark
17. 2026-05-31
    listed $87,500 Active 1 DOM

ⓘ 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: $1,264 · $105/mo
• Projected year-2 tax: $1,319 · $110/mo
• Expected delta: +$55/yr (+$5/mo · 4.3%)

ⓘ 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 ≥104°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: $9,780
• − Mortgage interest: −$4,901
• − Property taxes: −$1,264
• − Insurance: −$438
• − Repairs & maintenance: −$782
• − Management: −$782
• − Depreciation: −$2,545
• Taxable loss: −$934
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $742/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: Newton Community School District
• NCES district ID: 1920610
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 62% ▼ -9.00%
• Median HH income: $46,447
• Composite: 51.15/100
• National rank: #1762
• State rank: #245 of 289 in IA

Livability — Newton

• Score: 77/100
• State rank: #169
• US rank: #3069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IA
• County: Jasper County · 20,595 people
• City population: 20,595
• Metro: Des Moines-West Des Moines, IA
• Population (ZIP): 20,595
• Household income: $62,306
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 536.0

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 3%
• Common ancestry: Iranian 8% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Arabic 2% Chinese 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.48%
• Current HPI: 269.6454
• Rent YoY: —
• Metro: Des Moines-West Des Moines, IA
• 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

+225.3% since first listed

3 events — show timeline

• 2026-05-30 Listed $87,500 DMMLS
• 2014-07-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-06 Listed $26,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2025): $1,264 · +27.9% YoY. Source: county tax records.