1920 W Main St · Washington, IA 52353

$165,000

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 96 Days on market

Built 2001 9,148 sqft lot

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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).

• Cash flow +11.2/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 3-bedroom, 2-bathroom manufactured home, perfectly situated for easy access to Highway 1! Offering a comfortable and functional layout, this home features a spacious living area filled with natural light, a well-appointed kitchen with ample cabinet space, and a cozy dining area ideal for everyday living or entertaining. The primary suite includes a private full bathroom, while two additional bedrooms provide flexibility for family, guests, or a home office. Enjoy the convenience of a detached 2-car garage, offering plenty of room for parking, storage, or a workshop. Outside, the corner lot provides extra space and added privacy, with room to garden, relax, or create your own outdoor retreat. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this property offers great potential and value. Don’t miss your chance to make this inviting home your own!

Key facts

• Cozy dining area
• Spacious living area
• Corner lot

Tags

• CORNER LOT
• DETACHED GARAGE
• SPACIOUS LIVING AREA
• WELL-APPOINTED KITCHEN
• COZY DINING AREA
• PRIVATE FULL BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-63 ($-750/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (22.8% below list).
• Recommended offer: $127k (22.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.2% in Washington — 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 79/100 on livability (#114 in IA, #2,173 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, commute F.
• Washington Community School District (town): math 53% / reading 62% proficiency, ranked #254 of 289 in IA (top 88%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stewart Elementary School (481 students, 48% FRL); Washington Middle School (math 52% / reading 62%, grade B, #196 of 246 statewide, top 80%, 350 students, 53% FRL); Washington High School (math 55% / reading 67%, grade C+, #258 of 336 statewide, top 78%, 471 students, 48% FRL).
• Market conditions: 70 active listings in the ZIP; 42 units permitted in Washington County in 2024 (12 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 $5k of value loss. Plan a longer hold.
• Washington County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $18k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $165k implies a 106% gain — meaningful room to come down on a strong offer.

Recommended offer $127,303 (22.8% 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 96 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.62%
• DSCR: 0.93
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $63,544
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1005 W Madison St	0.71mi	2/1.5 (-1)	1,163 (-14%)	15mo	$55,000	$47	24

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: -19.0%
• Equity multiple: 0.33×
• Total profit: $-30,743
• Equity at exit: $24,602

10-year hold

• IRR: -11.6%
• Equity multiple: 0.31×
• Total profit: $-31,998
• Equity at exit: $14,266

Cash invested: $46,200 (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 52353

• Home prices YoY: -9.8%
• Active inventory: 70
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$134 /mo · $1,610/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-63

Break-even live

Break-even rent $1,352

Max offer price $153,959

Occupancy floor 100%

Sensitivity live

Price	-10% $31	-5% $-16	+0% $-63	+5% $-109	+10% $-156
Rent	-10% $-163	-5% $-113	+0% $-63	+5% $-12	+10% $38
Rate	-1.0pp $21	-0.5pp $-21	base $-63	+0.5pp $-105	+1.0pp $-149

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   days on market $165,000 Active 96 DOM
2. 2026-06-21
   days on market $165,000 Active 95 DOM
3. 2026-06-21
   days on market $165,000 Active 94 DOM
4. 2026-06-18
   days on market $165,000 Active 92 DOM
5. 2026-06-17
   days on market $165,000 Active 91 DOM
6. 2026-06-16
   days on market $165,000 Active 90 DOM
7. 2026-06-15
   days on market $165,000 Active 89 DOM
8. 2026-06-13
   days on market $165,000 Active 87 DOM
9. 2026-06-12
   days on market $165,000 Active 86 DOM
10. 2026-06-09
    days on market $165,000 Active 83 DOM
11. 2026-06-08
    days on market $165,000 Active 82 DOM
12. 2026-06-07
    days on market $165,000 Active 81 DOM
13. 2026-06-04
    pricedays on market $165,000 Active 77 DOM
14. 2026-06-02
    days on market $182,900 Active 76 DOM
15. 2026-06-01
    days on market $182,900 Active 75 DOM
16. 2026-05-31
    days on market $182,900 Active 74 DOM
17. 2026-05-31
    days on market $182,900 Active 73 DOM
18. 2026-03-18
    listed $182,900 Active 933-char remark

    Show marketing remark (933 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom manufactured home, perfectly situated for easy access to Highway 1! Offering a comfortable and functional layout, this home features a spacious living area filled with natural light, a well-appointed kitchen with ample cabinet space, and a cozy dining area ideal for everyday living or entertaining. The primary suite includes a private full bathroom, while two additional bedrooms provide flexibility for family, guests, or a home office. Enjoy the convenience of a detached 2-car garage, offering plenty of room for parking, storage, or a workshop. Outside, the corner lot provides extra space and added privacy, with room to garden, relax, or create your own outdoor retreat. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this property offers great potential and value. Don’t miss your chance to make this inviting home your own!

19. 2026-03-18
    listed $182,900 Active 933-char remark

    Show marketing remark (933 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom manufactured home, perfectly situated for easy access to Highway 1! Offering a comfortable and functional layout, this home features a spacious living area filled with natural light, a well-appointed kitchen with ample cabinet space, and a cozy dining area ideal for everyday living or entertaining. The primary suite includes a private full bathroom, while two additional bedrooms provide flexibility for family, guests, or a home office. Enjoy the convenience of a detached 2-car garage, offering plenty of room for parking, storage, or a workshop. Outside, the corner lot provides extra space and added privacy, with room to garden, relax, or create your own outdoor retreat. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this property offers great potential and value. Don’t miss your chance to make this inviting home your own!

20. 2024-04-05
    price $80,000
21. 2020-07-29
    soldstatus $80,000
22. 2020-07-24
    soldstatus $80,000
23. 2020-07-24
    soldstatus $80,000
24. 2020-06-30
    price $89,000
25. 2020-06-22
    listed $89,000
26. 2020-06-19
    listed $89,000
27. 2015-05-01
    listed $84,000

ⓘ 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: $1,610 · $134/mo
• Projected year-2 tax: $2,100 · $175/mo
• Expected delta: +$490/yr (+$41/mo · 30.5%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,276
• − Mortgage interest: −$9,243
• − Property taxes: −$1,610
• − Insurance: −$825
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$4,800
• Taxable loss: −$3,645
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $125/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: Washington Community School District
• NCES district ID: 1930240
• Math proficiency: 53% ▲ 2.00%
• Reading proficiency: 62% ▲ 3.00%
• Median HH income: $49,190
• Composite: 48.89/100
• National rank: #2078
• State rank: #254 of 289 in IA

Livability — Washington

• Score: 79/100
• State rank: #114
• US rank: #2173

Category grades

Amenities C Commute F 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: Washington, IA
• City population: 9,072
• Population (ZIP): 9,072

Population outlook (Washington County) Hauer SSP2

• Today (2025): 23,102 people
• By 2030: 23,487 · +1.7%
• By 2040: 24,164 · +4.6%
• By 2050: 24,595 · +6.5%
• By 2075: 25,969 · +12.4%
• By 2100: 24,700 · +6.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 3% Portuguese 2% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 7% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+24.4) · D 37.2% · R 61.6% · Other 1.2%
• 2008→2024 swing: -23.7pp toward R · 2008: -0.7pp · 2024: -24.4pp
• All cycles: 2024: R+24.4 2020: R+20.5 2016: R+20.6 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.25%
• Current HPI: 231.7933
• 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

+117.7% since first listed

10 events — show timeline

• 2026-03-18 Listed $182,900 IAR
• 2026-03-18 Listed $182,900 ICAARMLS
• 2024-04-05 Price Changed $80,000 ICAARMLS
• 2020-07-29 Sold (Public Records) $80,000 Public Records
• 2020-07-24 Sold (MLS) $80,000 IAR
• 2020-07-24 Sold (MLS) $80,000 ICAARMLS
• 2020-06-30 Price Changed $89,000 ICAARMLS
• 2020-06-22 Listed $89,000 IAR
• 2020-06-19 Listed $89,000 ICAARMLS
• 2015-05-01 Listed $84,000 ICAARMLS

Property tax history

+1.8%/yr

Latest (2025): $1,610 · +2.7% YoY. Source: county tax records.