634 2nd St · Traer, IA 50675

$80,000

4 bd · 2.0 ba · 1,812 sqft · SingleFamily public records · 38 Days on market

Built 1900 4,791 sqft lot $44/sqft · 47% below area Est $151k · 47% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a large 4 bedroom two bathroom with two furnace's, large dinning room, living room, front and side porch. This property is in need of a rehab but with it's size and location holds a lot of potential.

Key facts

• 4,791 sq ft lot
• Built 1900
• Listed 38 days

Tags

• SOUND STRUCTURAL FOUNDATION
• RENOVATION GROUNDWORK COMPLETE

Property features AI

Exterior

• Utilities: Public sewer; Public water and community/co-op water available
• Home design: Two-story home; Metal roof
• Construction: Stone foundation
• Exterior features: Asphalt road access; R-1 zoning

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating available; Gas heating available
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#185 in IA, #3,274 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Tama County Community School District (rural): math 56% / reading 66% proficiency, ranked #234 of 289 in IA (top 81%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 35 active listings in the ZIP; 17 units permitted in Tama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tama County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $13k; list at $80k implies a 527% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1900 — 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 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?
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: 1.63% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.46%
• DSCR: 2.22
• GRM: 5.1

CMA / ARV

• ARV (median comp): $150,687
• List price: $80,000
• Delta: -46.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 Walnut St	0.57mi	4/2.0	1,832 (+1%)	3mo	$180,000	$98	69
100 Walnut St	0.21mi	3/2.0 (-1)	1,682 (-7%)	16mo	$150,000	$89	60
212 Vista St	0.45mi	4/2.5	1,920 (+6%)	10mo	$175,000	$91	59
513 3rd St	0.18mi	3/2.5 (-1)	1,924 (+6%)	18mo	$179,000	$93	59
614 North St	0.11mi	4/1.5	2,000 (+10%)	22mo	$175,000	$88	57
503 4th St	0.27mi	3/2.0 (-1)	2,052 (+13%)	8mo	$168,000	$82	54
306 Greene St	0.45mi	3/1.5 (-1)	1,966 (+8%)	19mo	$134,000	$68	42
204 Vista St	0.50mi	3/2.0 (-1)	1,988 (+10%)	18mo	$190,000	$96	41

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: 21.5%
• Equity multiple: 1.88×
• Total profit: $19,677
• Equity at exit: $11,928

10-year hold

• IRR: 29.6%
• Equity multiple: 3.64×
• Total profit: $59,159
• Equity at exit: $6,917

Cash invested: $22,400 (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 50675

• Home prices YoY: -9.9%
• Active inventory: 35
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$65 /mo · $776/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $513

Break-even live

Break-even rent $655

Max offer price $80,000

Occupancy floor 56%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $80,000 Active 38 DOM
2. 2026-06-17
   days on market $80,000 Active 37 DOM
3. 2026-06-16
   days on market $80,000 Active 36 DOM
4. 2026-06-15
   days on market $80,000 Active 35 DOM
5. 2026-06-13
   days on market $80,000 Active 33 DOM
6. 2026-06-12
   days on market $80,000 Active 32 DOM
7. 2026-06-09
   days on market $80,000 Active 29 DOM
8. 2026-06-08
   days on market $80,000 Active 28 DOM
9. 2026-06-07
   days on market $80,000 Active 27 DOM
10. 2026-06-07
    days on market $80,000 Active 26 DOM
11. 2026-06-04
    days on market $80,000 Active 23 DOM
12. 2026-06-02
    days on market $80,000 Active 22 DOM
13. 2026-06-01
    days on market $80,000 Active 21 DOM
14. 2026-05-31
    days on market $80,000 Active 20 DOM
15. 2026-05-31
    days on market $80,000 Active 19 DOM
16. 2026-05-07
    listed $80,000 Active 1297-char remark
17. 2024-07-27
    listed $105,000 Active
18. 2023-07-26
    soldstatus $12,750 Closed

    Show marketing remark (207 chars)

    This is a large 4 bedroom two bathroom with two furnace's, large dinning room, living room, front and side porch. This property is in need of a rehab but with it's size and location holds a lot of potential.

19. 2023-07-14
    status Pending

    Show marketing remark (207 chars)

    This is a large 4 bedroom two bathroom with two furnace's, large dinning room, living room, front and side porch. This property is in need of a rehab but with it's size and location holds a lot of potential.

20. 2023-05-31
    price $14,900

    Show marketing remark (207 chars)

    This is a large 4 bedroom two bathroom with two furnace's, large dinning room, living room, front and side porch. This property is in need of a rehab but with it's size and location holds a lot of potential.

21. 2023-04-15
    listed $19,900 Active

    Show marketing remark (207 chars)

    This is a large 4 bedroom two bathroom with two furnace's, large dinning room, living room, front and side porch. This property is in need of a rehab but with it's size and location holds a lot of potential.

ⓘ 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: $776 · $65/mo
• Projected year-2 tax: $1,016 · $85/mo
• Expected delta: +$240/yr (+$20/mo · 30.9%)

ⓘ 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 2/10 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: $15,646
• − Mortgage interest: −$4,481
• − Property taxes: −$776
• − Insurance: −$400
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$2,327
• Taxable income: $5,158
• Est. tax owed @ 24.0%: −$1,238
• After-tax cash flow: $4,912/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: North Tama County Community School District
• NCES district ID: 1921000
• Math proficiency: 56% ▼ -14.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $52,332
• Composite: 52.09/100
• National rank: #1627
• State rank: #234 of 289 in IA

Livability — Traer

• Score: 76/100
• State rank: #185
• US rank: #3274

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Traer, IA
• Population (ZIP): 2,323

Population outlook (Tama County) Hauer SSP2

• Today (2025): 16,690 people
• By 2030: 16,217 · -2.8%
• By 2040: 15,207 · -8.9%
• By 2050: 14,186 · -15.0%
• By 2075: 12,228 · -26.7%
• By 2100: 10,386 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 11% Hispanic / Latino 10% Native American 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Tama

• 2024 margin: Strong R (+26.9) · D 35.7% · R 62.6% · Other 1.7%
• 2008→2024 swing: -39.1pp toward R · 2008: 12.2pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+19.1 2016: R+20.6 2012: D+7.4 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.31%
• Current HPI: 166.7181
• 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

+302.0% since first listed

6 events — show timeline

• 2026-05-07 Listed $80,000 DMMLS
• 2024-07-27 Listed $105,000 IAR
• 2023-07-26 Sold (MLS) $12,750 DMMLS
• 2023-07-14 Pending — DMMLS
• 2023-05-31 Price Changed $14,900 DMMLS
• 2023-04-15 Listed $19,900 DMMLS

Property tax history

+0.9%/yr

Latest (2025): $776 · +5.4% YoY. Source: county tax records.