317 Main St · Pierson, IA 51048

$80,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 92 Days on market

Built 1915 0.29 ac lot $79/sqft · 6% below area Est $85k · 6% 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 +27.4/30.0
• ARV discount +10.1/15.0
• DSCR +9.6/10.0
• 1% rule +6.7/10.0
• Appreciation +6.7/10.0
• Schools +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for an affordable 3 bedroom home with tons of potential, here it is! Yes it needs work but the block basement is solid and dry. Newer roof, vinyl windows, newer furnace and central air too. Come take a look with an open mind.

Key facts

• Vinyl windows
• Newer furnace
• Newer roof

Tags

• BLOCK BASEMENT
• NEWER ROOF
• VINYL WINDOWS
• NEWER FURNACE
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#615 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities F.
• Kingsley-Pierson Community School District (rural): math 68% / reading 73% proficiency, ranked #125 of 289 in IA (top 43%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 5 active listings in the ZIP; 170 units permitted in Woodbury County in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($553 loan paydown + $3k appreciation (3.5% local appreciation)).
• At projected returns (3.5% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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 1915 — 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 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?
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: 1.17% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.51%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (median comp): $85,000
• List price: $80,000
• Delta: -5.88%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Summit	0.25mi	2/1.0	1,017 (+1%)	20mo	$90,000	$88	70
302 4th St	0.14mi	2/2.0	936 (-7%)	23mo	$75,000	$80	59

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

Projected returns pro-forma

3.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 2.19×
• Total profit: $26,625
• Equity at exit: $38,237

10-year hold

• IRR: 21.1%
• Equity multiple: 4.19×
• Total profit: $71,351
• Equity at exit: $60,753

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 51048

• Home prices YoY: 3.0%
• Active inventory: 5
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $939 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$56 /mo · $668/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $233

Break-even live

Break-even rent $644

Max offer price $80,000

Occupancy floor 70%

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 9 events

1. 2026-06-04
   days on market $80,000 Active 92 DOM
2. 2026-06-02
   days on market $80,000 Active 91 DOM
3. 2026-06-01
   days on market $80,000 Active 90 DOM
4. 2026-05-31
   days on market $80,000 Active 89 DOM
5. 2026-05-31
   days on market $80,000 Active 88 DOM
6. 2026-03-02
   listed $80,000 Active 233-char remark

   Show marketing remark (233 chars)

   Looking for an affordable 3 bedroom home with tons of potential, here it is! Yes it needs work but the block basement is solid and dry. Newer roof, vinyl windows, newer furnace and central air too. Come take a look with an open mind.

7. 2022-09-28
   soldstatus $81,000
8. 2016-07-22
   soldstatus $15,000
9. 2005-02-15
   soldstatus $31,500

ⓘ 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: $668 · $56/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: +$294/yr (+$24/mo · 44.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $11,271
• − Mortgage interest: −$4,481
• − Property taxes: −$668
• − Insurance: −$400
• − Repairs & maintenance: −$902
• − Management: −$902
• − Depreciation: −$2,327
• Taxable income: $1,591
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $2,420/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: Kingsley-Pierson Community School District
• NCES district ID: 1915750
• Math proficiency: 68% ▼ -7.00%
• Reading proficiency: 73% ▲ 1.00%
• Median HH income: $55,579
• Composite: 60.3/100
• National rank: #852
• State rank: #125 of 289 in IA

Livability — Pierson

• Score: 64/100
• State rank: #615
• US rank: #14195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pierson, IA
• Population (ZIP): 465

Population outlook (Woodbury County) Hauer SSP2

• Today (2025): 103,226 people
• By 2030: 103,060 · -0.2%
• By 2040: 102,533 · -0.7%
• By 2050: 102,788 · -0.4%
• By 2075: 107,227 · +3.9%
• By 2100: 113,980 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 5% German 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Woodbury

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.9% · Other 1.3%
• 2008→2024 swing: -22.5pp toward R · 2008: -0.5pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+15.5 2016: R+19.9 2012: R+0.2 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.50%
• Current HPI: 120.5442
• 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

+154.0% since first listed

4 events — show timeline

• 2026-03-02 Listed $80,000 NWIA
• 2022-09-28 Sold (Public Records) $81,000 Public Records
• 2016-07-22 Sold (Public Records) $15,000 Public Records
• 2005-02-15 Sold (Public Records) $31,500 Public Records

Property tax history

+8.9%/yr

Latest (2025): $668 · +2.1% YoY. Source: county tax records.