305 E 6th St · Malvern, IA 51551

$229,000

3 bd · 2.5 ba · 1,768 sqft · SingleFamily public records · 70 Days on market

Built 1890 8,580 sqft lot $130/sqft · 10% above area Est $208k · 10% over

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• Schools +6.2/10.0
• Livability +4.0/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.8/10.0

Listing remarks MLS

Great opportunity in Malvern! 2 Story home on picturesque, quiet brick-lined street. Sit on your front deck or enjoy the large backyard with workshop/shed that has a/c and heat. Main floor features primary bedroom, family room, kitchen, 3/4 bathroom, laundry room and bonus/guest room (Murphy Bed included). Upper level has 2 bedrooms, Full bathroom and large closet for storage. This home has many updates including: New vinyl siding, New roof (Home & shed), fresh paint. Large eat in kitchen with French doors that open to large patio for entertaining.

Key facts

• 8,580 sq ft lot
• Built 1890
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (27.9% below list).
• Recommended offer: $165k (27.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#62 in IA, #1,413 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• East Mills Community School District (rural): math 71% / reading 73% proficiency, ranked #100 of 289 in IA (top 35%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: East Mills Elementary School (math 67% / reading 62%, grade B, #317 of 616 statewide, top 58%, 232 students, 52% FRL); East Mills Jr/Sr High School (math 72% / reading 82%, grade A-, #60 of 336 statewide, top 21%, 215 students, 36% FRL).
• Market conditions: 16 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 39 units permitted in Mills County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Mills County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $180k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $165,000 (27.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.02%
• DSCR: 0.78
• GRM: 11.6

CMA / ARV

• ARV (median comp): $207,556
• List price: $229,000
• Delta: 10.33%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 Main St	0.24mi	3/3.0	1,885 (+7%)	0mo	$233,000	$124	75
508 Prospect Ave	0.10mi	4/1.5 (+1)	1,600 (-10%)	1mo	$195,000	$122	69
803 Marion Ave	0.15mi	3/3.0	1,958 (+11%)	10mo	$349,000	$178	64
612 E 9th St	0.32mi	4/2.0 (+1)	1,904 (+8%)	6mo	$259,000	$136	60
203 1/2 Prospect Ave	0.31mi	3/2.0	1,945 (+10%)	13mo	$187,500	$96	56
97 Main St	0.46mi	4/2.0 (+1)	1,560 (-12%)	1mo	$219,500	$141	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $107,648
• Equity at exit: $206,301

10-year hold

• IRR: 18.8%
• Equity multiple: 6.15×
• Total profit: $330,482
• Equity at exit: $444,897

Cash invested: $64,120 (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 51551

• Home prices YoY: 7.7%
• Active inventory: 16
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$276 /mo · $3,306/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-268

Break-even live

Break-even rent $1,990

Max offer price $181,601

Occupancy floor —

Sensitivity live

Price	-10% $-139	-5% $-204	+0% $-268	+5% $-333	+10% $-398
Rent	-10% $-399	-5% $-333	+0% $-268	+5% $-203	+10% $-138
Rate	-1.0pp $-153	-0.5pp $-210	base $-268	+0.5pp $-328	+1.0pp $-388

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 W 4th St Unit 4 Malvern, IA	2.0	2.0	1275	$1,650	$1.29	3d	1	0.27mi

Listing history 19 events

1. 2026-06-22
   days on market $229,000 Coming Soon 70 DOM
2. 2026-06-21
   days on market $229,000 Coming Soon 69 DOM
3. 2026-06-21
   days on market $229,000 Coming Soon 68 DOM
4. 2026-06-18
   days on market $229,000 Coming Soon 66 DOM
5. 2026-06-17
   days on market $229,000 Coming Soon 65 DOM
6. 2026-06-16
   days on market $229,000 Coming Soon 64 DOM
7. 2026-06-15
   days on market $229,000 Coming Soon 63 DOM
8. 2026-06-13
   days on market $229,000 Coming Soon 61 DOM
9. 2026-06-12
   days on market $229,000 Coming Soon 60 DOM
10. 2026-06-09
    days on market $229,000 Coming Soon 57 DOM
11. 2026-06-08
    days on market $229,000 Coming Soon 56 DOM
12. 2026-06-07
    days on market $229,000 Coming Soon 55 DOM
13. 2026-06-04
    days on market $229,000 Coming Soon 51 DOM
14. 2026-06-02
    days on market $229,000 Coming Soon 50 DOM
15. 2026-06-01
    days on market $229,000 Coming Soon 49 DOM
16. 2026-05-31
    days on market $229,000 Coming Soon 48 DOM
17. 2026-05-31
    days on market $229,000 Coming Soon 47 DOM
18. 2026-04-13
    historical $229,000 560-char remark

    Show marketing remark (560 chars)

    Great opportunity in Malvern! 2 Story home on picturesque, quiet brick-lined street. Sit on your front deck or enjoy the large backyard with workshop/shed that has a/c and heat. Main floor features primary bedroom, family room, kitchen, 3/4 bathroom, laundry room and bonus/guest room (Murphy Bed included). Upper level has 2 bedrooms, Full bathroom and large closet for storage. This home has many updates including: New vinyl siding, New roof (Home & shed), fresh paint. Large eat in kitchen with French doors that open to large patio for entertaining.

19. 2021-06-18
    soldstatus $180,000

ⓘ 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: $3,306 · $276/mo
• Projected year-2 tax: $3,451 · $288/mo
• Expected delta: +$145/yr (+$12/mo · 4.4%)

ⓘ 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 ≥105°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: $19,800
• − Mortgage interest: −$12,828
• − Property taxes: −$3,306
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$6,662
• Taxable loss: −$7,308
• Est. tax savings @ 24.0%: +$1,754
• After-tax cash flow: $-1,466/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: East Mills Community School District
• NCES district ID: 1918240
• Math proficiency: 71% ▼ -3.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $58,070
• Composite: 61.8/100
• National rank: #732
• State rank: #100 of 289 in IA

Livability — Malvern

• Score: 81/100
• State rank: #62
• US rank: #1413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malvern, IA
• Population (ZIP): 1,877

Population outlook (Mills County) Hauer SSP2

• Today (2025): 14,342 people
• By 2030: 13,928 · -2.9%
• By 2040: 12,997 · -9.4%
• By 2050: 12,123 · -15.5%
• By 2075: 10,462 · -27.1%
• By 2100: 9,025 · -37.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Slovak 5% Portuguese 3% Iranian 3%
• Foreign-born: 0% · South Korea

Political lean MEDSL · Mills

• 2024 margin: Solid R (+39.1) · D 29.9% · R 69.0% · Other 1.2%
• 2008→2024 swing: -22.5pp toward R · 2008: -16.6pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+37.2 2016: R+39.0 2012: R+19.1 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.46%
• Current HPI: 245.0422
• 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

+27.2% since first listed

2 events — show timeline

• 2026-04-13 Coming Soon $229,000 SWIAR
• 2021-06-18 Sold (Public Records) $180,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,306 · -3.4% YoY. Source: county tax records.