612 S Division St · Creston, IA 50801

$65,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 39 Days on market

Built 1890 $80/sqft · 15% below area Est $77k · 15% 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 +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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

Opportunity Knocks: Bungalow with Incredible Potential! Bring your vision and a little elbow grease to this two-bedroom, one-bath bungalow. Whether you are looking to stop paying rent and start building equity, or you're an investor searching for the perfect fix-and-flip or long-term rental. A standout feature for a home this size! this 24x26 detached garage offers more than enough room for two vehicles, a workshop, or secure storage for equipment. The large lot provides plenty of breathing room and dedicated space perfectly suited for adding a building or garden. All located near Highway 34. Don't wait for someone else to see the potential!

Key facts

• Large lot
• Detached garage
• 2 garage spots

Tags

• DETACHED GARAGE
• LARGE LOT

Property features AI

Exterior

• Parking: Detached gravel garage with 2 garage spaces
• Utilities: Public water; Public sewer; Electric service with fuses
• Home design: Single-family residence; Residential property type
• Construction: HardiPlank and metal siding; Built with durable exterior materials
• Exterior features: Shingle roof; Public-maintained road access; City street frontage; Lot dimensions: 50 x 125 (main), sub lot 2: 65 x 207, sub lot 3: 35 x 262; Zoned for single-family residential

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit cooling; Other heating
• Interior features: Range and refrigerator included; Carpet flooring; Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($914 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 $449 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 $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.41% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.88%
• DSCR: 1.75
• GRM: 5.9

CMA / ARV

• ARV (median comp): $76,514
• List price: $65,000
• Delta: -15.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 S Elm St	0.22mi	2/1.0	852 (+5%)	2mo	$68,000	$80	80
510 Wyoming Ave	0.10mi	2/1.0	886 (+9%)	9mo	$115,000	$130	73
405 S Vine St	0.51mi	2/1.0	826 (+2%)	3mo	$86,000	$104	71
701 S Pine St	0.28mi	2/1.0	784 (-3%)	14mo	$64,000	$82	70
409 S Vine St	0.50mi	2/1.0	812 (0%)	9mo	$53,000	$65	69
700 S Vine St	0.44mi	2/1.0	867 (+7%)	10mo	$105,000	$121	60
903 W Montgomery St	0.65mi	2/1.0	824 (+2%)	11mo	$18,500	$22	58
103 S Spruce St	0.47mi	2/1.0	880 (+8%)	12mo	$115,000	$131	54
301 N Spruce St	0.67mi	2/1.0	768 (-5%)	19mo	$79,000	$103	44
209 S Lincoln	0.60mi	2/1.0	700 (-14%)	9mo	$117,500	$168	42
304 N Elm St	0.68mi	2/1.0	752 (-7%)	20mo	$95,000	$126	40
924 W Mills St	0.75mi	3/1.0 (+1)	924 (+14%)	11mo	$93,000	$101	28

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $5,794
• Equity at exit: $9,692

10-year hold

• IRR: 17.4%
• Equity multiple: 2.44×
• Total profit: $26,136
• Equity at exit: $5,620

Cash invested: $18,200 (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: 5.9×

Monthly cashflow live

• Estimated rent: $914 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $256

Break-even live

Break-even rent $590

Max offer price $65,000

Occupancy floor 67%

Sensitivity live

Price	-10% $293	-5% $274	+0% $256	+5% $238	+10% $219
Rent	-10% $184	-5% $220	+0% $256	+5% $292	+10% $328
Rate	-1.0pp $289	-0.5pp $272	base $256	+0.5pp $239	+1.0pp $222

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $65,000 Active 39 DOM
2. 2026-06-18
   days on market $65,000 Active 37 DOM
3. 2026-06-17
   days on market $65,000 Active 36 DOM
4. 2026-06-16
   days on market $65,000 Active 35 DOM
5. 2026-06-15
   days on market $65,000 Active 34 DOM
6. 2026-06-13
   days on market $65,000 Active 32 DOM
7. 2026-06-12
   days on market $65,000 Active 31 DOM
8. 2026-06-09
   days on market $65,000 Active 28 DOM
9. 2026-06-08
   days on market $65,000 Active 27 DOM
10. 2026-06-07
    days on market $65,000 Active 26 DOM
11. 2026-06-07
    days on market $65,000 Active 25 DOM
12. 2026-06-04
    days on market $65,000 Active 22 DOM
13. 2026-06-02
    days on market $65,000 Active 21 DOM
14. 2026-06-01
    days on market $65,000 Active 20 DOM
15. 2026-05-31
    days on market $65,000 Active 19 DOM
16. 2026-05-31
    days on market $65,000 Active 18 DOM
17. 2026-05-11
    listed $65,000 Active 649-char remark

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,180 · $98/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 3/10 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: $10,971
• − Mortgage interest: −$3,641
• − Property taxes: −$1,180
• − Insurance: −$325
• − Repairs & maintenance: −$878
• − Management: −$878
• − Depreciation: −$1,891
• Taxable income: $2,179
• Est. tax owed @ 24.0%: −$523
• After-tax cash flow: $2,549/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

1 event — show timeline

• 2026-05-11 Listed $65,000 IAR

Property tax history

+5.3%/yr

Latest (2025): $1,180 · -6.1% YoY. Source: county tax records.