426 N 1st St · West Branch, IA 52358

$183,900

5 bd · 2.0 ba · 2,548 sqft · Other public records · 81 Days on market

Built 1900 0.27 ac lot $72/sqft · 28% below area Est $254k · 28% under ↓ 50% since listing

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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 +15.6/30.0
• ARV discount +15.0/15.0
• Schools +6.0/10.0
• DSCR +4.8/10.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 units. Off street parking. Quiet dead end street location close to downtown. Main Floor unit has enclosed front porch. All 3 units currently occupied on month to month leases. New boiler 2025. Roof(2024)

Key facts

• New boiler
• Roof
• Off street parking

Tags

• OFF STREET PARKING
• QUIET DEAD END STREET
• ENCLOSED FRONT PORCH
• NEW BOILER
• ROOF

🏷️ Possibly a rental listed for sale. The $183,900 price doesn't fit this home's estimated sale value (~$254,094) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $184k.

Deal economics

• At list price, monthly cash flow is $77 ($922/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 $167k (9.3% below list).
• Recommended offer: $167k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.3% in West Branch — 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 84/100 on livability (#29 in IA, #817 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Branch Community School District (rural): math 68% / reading 70% proficiency, ranked #134 of 289 in IA (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 63 active listings in the ZIP; 89 units permitted in Cedar County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Cedar County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

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

Recommended offer $166,837 (9.3% below list)

Questions for the listing agent

1. It's been on market 81 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 1900 — 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: 0.91% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.79%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

• ARV (median comp): $254,094
• List price: $183,900
• Delta: -27.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-24,899
• Equity at exit: $27,420

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-15,353
• Equity at exit: $15,900

Cash invested: $51,492 (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 52358

• Home prices YoY: -17.2%
• Active inventory: 63
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$964
• Tax from tax record: −$200 /mo · $2,402/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $77

Break-even live

Break-even rent $1,571

Max offer price $183,900

Occupancy floor 90%

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: $45,975
• Closing costs: $5,517
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $183,900 Active 81 DOM
2. 2026-06-18
   days on market $183,900 Active 80 DOM
3. 2026-06-17
   days on market $183,900 Active 79 DOM
4. 2026-06-16
   days on market $183,900 Active 78 DOM
5. 2026-06-15
   days on market $183,900 Active 77 DOM
6. 2026-06-14
   days on market $183,900 Active 75 DOM
7. 2026-06-13
   days on market $183,900 Active 74 DOM
8. 2026-06-10
   days on market $183,900 Active 72 DOM
9. 2026-06-09
   days on market $183,900 Active 71 DOM
10. 2026-06-08
    days on market $183,900 Active 70 DOM
11. 2026-06-07
    days on market $183,900 Active 69 DOM
12. 2026-06-05
    days on market $183,900 Active 66 DOM
13. 2026-06-03
    days on market $183,900 Active 65 DOM
14. 2026-06-02
    days on market $183,900 Active 64 DOM
15. 2026-06-01
    days on market $183,900 Active 63 DOM
16. 2026-05-31
    days on market $183,900 Active 62 DOM
17. 2026-05-30
    days on market $183,900 Active 61 DOM
18. 2026-03-30
    listed $183,900 Active 205-char remark

    Show marketing remark (205 chars)

    3 units. Off street parking. Quiet dead end street location close to downtown. Main Floor unit has enclosed front porch. All 3 units currently occupied on month to month leases. New boiler 2025. Roof(2024)

19. 2025-10-01
    listed $185,000 Active
20. 2025-03-04
    listed $189,000 Active
21. 2024-11-16
    price $189,000
22. 2024-06-05
    listed $205,000 Active
23. 2008-05-05
    soldstatus $366,000
24. 2008-05-05
    soldstatus $366,000

ⓘ 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: $2,402 · $200/mo
• Projected year-2 tax: $2,645 · $220/mo
• Expected delta: +$243/yr (+$20/mo · 10.1%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,020
• − Mortgage interest: −$10,301
• − Property taxes: −$2,402
• − Insurance: −$920
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$5,350
• Taxable loss: −$2,155
• Est. tax savings @ 24.0%: +$517
• After-tax cash flow: $1,439/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: West Branch Community School District
• NCES district ID: 1930750
• Math proficiency: 68% ▼ -4.00%
• Reading proficiency: 70% ▲ 1.00%
• Median HH income: $64,511
• Composite: 59.92/100
• National rank: #880
• State rank: #134 of 289 in IA

Livability — West Branch

• Score: 84/100
• State rank: #29
• US rank: #817

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: West Branch, IA
• Population (ZIP): 3,752

Population outlook (Cedar County) Hauer SSP2

• Today (2025): 18,416 people
• By 2030: 18,294 · -0.7%
• By 2040: 17,771 · -3.5%
• By 2050: 16,841 · -8.6%
• By 2075: 14,503 · -21.2%
• By 2100: 11,301 · -38.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 3% Iranian 3% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cedar

• 2024 margin: Strong R (+21.8) · D 38.4% · R 60.1% · Other 1.5%
• 2008→2024 swing: -31.4pp toward R · 2008: 9.6pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+17.0 2016: R+18.1 2012: D+4.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.15%
• Current HPI: 221.5249
• 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

-49.8% since first listed

7 events — show timeline

• 2026-03-30 Listed $183,900 ICAARMLS
• 2025-10-01 Listed $185,000 ICAARMLS
• 2025-03-04 Listed $189,000 ICAARMLS
• 2024-11-16 Price Changed $189,000 ICAARMLS
• 2024-06-05 Listed $205,000 ICAARMLS
• 2008-05-05 Sold (Public Records) $366,000 Public Records
• 2008-05-05 Sold (Public Records) $366,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $2,402 · -6.5% YoY. Source: county tax records.