1124 N Carroll St #11 · Carroll, IA 51401

$105,000

2 bd · 1.5 ba · 1,039 sqft · SingleFamily public records · 101 Days on market

Built 1971 $101/sqft · 45% below area Est $192k · 45% 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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Schools +6.1/10.0
• 1% rule +4.9/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the ultimate in low-maintenance living in this beautifully updated condo featuring 2 bedrooms and 2 updated bathrooms. The modernized kitchen includes new cabinets, updated finishes, and appliances that stay, including a newer dishwasher and microwave. Newer paint and flooring throughout give the home a clean, move-in-ready feel. Additional highlights include a single detached garage. Perfect for those looking to simplify and enjoy a comfortable, updated space.

Key facts

• Updated finishes
• Newer dishwasher
• New cabinets

Tags

• UPDATED KITCHEN
• NEW CABINETS
• UPDATED FINISHES
• APPLIANCES THAT STAY
• NEWER DISHWASHER
• NEWER MICROWAVE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $103k (1.4% below list).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.2% in Carroll — 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 82/100 on livability (#54 in IA, #1,282 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Carroll Community School District (town): math 72% / reading 72% proficiency, ranked #113 of 289 in IA (top 39%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 93 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Carroll County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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 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?
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: 0.99% ✗
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 8.5

CMA / ARV

• ARV (median comp): $191,719
• List price: $105,000
• Delta: -45.23%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
641 W 14th St	0.36mi	2/1.5	1,007 (-3%)	0mo	$180,000	$179	78
505 Parkview Dr	0.43mi	2/2.0	1,040 (+0%)	2mo	$190,000	$183	76
226 W 13th St	0.06mi	2/2.0	936 (-10%)	7mo	$165,000	$176	73
926 N Court St	0.28mi	2/2.0	1,124 (+8%)	3mo	$179,500	$160	69
807 N Court St	0.34mi	3/1.0 (+1)	1,089 (+5%)	6mo	$65,000	$60	64
326 N West St	0.61mi	2/1.0	1,008 (-3%)	2mo	$65,000	$64	63
1320 N Adams St	0.13mi	3/2.0 (+1)	1,178 (+13%)	3mo	$177,990	$151	62
1720 Salinger Ave	0.53mi	3/2.0 (+1)	1,104 (+6%)	1mo	$228,000	$207	57
1844 Benjamin St	0.59mi	3/2.0 (+1)	1,062 (+2%)	8mo	$160,000	$151	55
1022 Skyline Dr	0.70mi	3/2.0 (+1)	1,050 (+1%)	7mo	$170,000	$162	53
1852 Quint Ave	0.63mi	3/2.0 (+1)	1,080 (+4%)	6mo	$142,000	$131	52
746 Granada Rd	0.72mi	3/1.0 (+1)	988 (-5%)	1mo	$163,000	$165	50

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-9,225
• Equity at exit: $15,656

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $1,989
• Equity at exit: $9,078

Cash invested: $29,400 (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 51401

• Home prices YoY: -22.3%
• Active inventory: 93
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,035 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $122

Break-even live

Break-even rent $880

Max offer price $105,000

Occupancy floor 83%

Sensitivity live

Price	-10% $182	-5% $152	+0% $122	+5% $93	+10% $63
Rent	-10% $41	-5% $81	+0% $122	+5% $163	+10% $204
Rate	-1.0pp $175	-0.5pp $149	base $122	+0.5pp $95	+1.0pp $67

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $105,000 Active 101 DOM
2. 2026-06-18
   days on market $105,000 Active 99 DOM
3. 2026-06-17
   days on market $105,000 Active 98 DOM
4. 2026-06-16
   days on market $105,000 Active 97 DOM
5. 2026-06-15
   days on market $105,000 Active 96 DOM
6. 2026-06-13
   days on market $105,000 Active 94 DOM
7. 2026-06-12
   days on market $105,000 Active 93 DOM
8. 2026-06-09
   days on market $105,000 Active 90 DOM
9. 2026-06-08
   days on market $105,000 Active 89 DOM
10. 2026-06-07
    days on market $105,000 Active 88 DOM
11. 2026-06-07
    days on market $105,000 Active 87 DOM
12. 2026-06-04
    days on market $105,000 Active 84 DOM
13. 2026-06-02
    days on market $105,000 Active 83 DOM
14. 2026-06-01
    days on market $105,000 Active 82 DOM
15. 2026-05-31
    days on market $105,000 Active 81 DOM
16. 2026-05-31
    days on market $105,000 Active 80 DOM
17. 2026-03-09
    listed $105,000 Active 471-char remark

    Show marketing remark (471 chars)

    Enjoy the ultimate in low-maintenance living in this beautifully updated condo featuring 2 bedrooms and 2 updated bathrooms. The modernized kitchen includes new cabinets, updated finishes, and appliances that stay, including a newer dishwasher and microwave. Newer paint and flooring throughout give the home a clean, move-in-ready feel. Additional highlights include a single detached garage. Perfect for those looking to simplify and enjoy a comfortable, updated space.

18. 2023-09-07
    soldstatus $95,000
19. 2023-08-26
    status Pending 338-char remark

    Show marketing remark (338 chars)

    The ultimate in carefree living! Totally UPDATED condo w/ 2 large bedrooms, 2 updated bath areas and large living area. Kitchen has been updated with new cabinets, appliances are included as well as a new dishwasher & microwave. New paint and flooring throughout. Single detached garage. No snow to scoop or lawn to move ever again!

20. 2023-08-09
    historical 338-char remark

    Show marketing remark (338 chars)

    The ultimate in carefree living! Totally UPDATED condo w/ 2 large bedrooms, 2 updated bath areas and large living area. Kitchen has been updated with new cabinets, appliances are included as well as a new dishwasher & microwave. New paint and flooring throughout. Single detached garage. No snow to scoop or lawn to move ever again!

21. 2023-07-28
    soldstatus $95,000 Closed 338-char remark

    Show marketing remark (338 chars)

    The ultimate in carefree living! Totally UPDATED condo w/ 2 large bedrooms, 2 updated bath areas and large living area. Kitchen has been updated with new cabinets, appliances are included as well as a new dishwasher & microwave. New paint and flooring throughout. Single detached garage. No snow to scoop or lawn to move ever again!

22. 2023-07-03
    status Pending 338-char remark

    Show marketing remark (338 chars)

    The ultimate in carefree living! Totally UPDATED condo w/ 2 large bedrooms, 2 updated bath areas and large living area. Kitchen has been updated with new cabinets, appliances are included as well as a new dishwasher & microwave. New paint and flooring throughout. Single detached garage. No snow to scoop or lawn to move ever again!

23. 2023-05-24
    price $100,000 338-char remark

    Show marketing remark (338 chars)

    The ultimate in carefree living! Totally UPDATED condo w/ 2 large bedrooms, 2 updated bath areas and large living area. Kitchen has been updated with new cabinets, appliances are included as well as a new dishwasher & microwave. New paint and flooring throughout. Single detached garage. No snow to scoop or lawn to move ever again!

24. 2023-03-29
    listed $105,000 Active 338-char remark

    Show marketing remark (338 chars)

    The ultimate in carefree living! Totally UPDATED condo w/ 2 large bedrooms, 2 updated bath areas and large living area. Kitchen has been updated with new cabinets, appliances are included as well as a new dishwasher & microwave. New paint and flooring throughout. Single detached garage. No snow to scoop or lawn to move ever again!

25. 2012-12-04
    soldstatus $52,500

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $1,429 · $119/mo
• Expected delta: +$219/yr (+$18/mo · 18.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $12,419
• − Mortgage interest: −$5,882
• − Property taxes: −$1,210
• − Insurance: −$525
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$3,055
• Taxable loss: −$239
• Est. tax savings @ 24.0%: +$57
• After-tax cash flow: $1,526/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: Carroll Community School District
• NCES district ID: 1906330
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $50,124
• Composite: 61.04/100
• National rank: #793
• State rank: #113 of 289 in IA

Livability — Carroll

• Score: 82/100
• State rank: #54
• US rank: #1282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carroll, IA
• City population: 12,113
• Population (ZIP): 12,113

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,745 people
• By 2030: 19,244 · -2.5%
• By 2040: 18,251 · -7.6%
• By 2050: 17,223 · -12.8%
• By 2075: 16,258 · -17.7%
• By 2100: 15,591 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+41.9) · D 28.4% · R 70.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: 3.6pp · 2024: -41.9pp
• All cycles: 2024: R+41.9 2020: R+37.8 2016: R+31.8 2012: R+6.3 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.74%
• Current HPI: 267.0068
• 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

+100.0% since first listed

9 events — show timeline

• 2026-03-09 Listed $105,000 IAR
• 2023-09-07 Sold (Public Records) $95,000 Public Records
• 2023-08-26 Pending — IAR
• 2023-08-09 Delisted — IAR
• 2023-07-28 Sold (MLS) $95,000 IAR
• 2023-07-03 Pending — IAR
• 2023-05-24 Price Changed $100,000 IAR
• 2023-03-29 Listed $105,000 IAR
• 2012-12-04 Sold (Public Records) $52,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,210 · +17.7% YoY. Source: county tax records.