6676 32nd Ave Lot 35 Ave · Shellsburg, IA 52332

$55,900

3 bd · 2.0 ba · 2,440 sqft · Other public records · 122 Days on market

Built 2025 $23/sqft · 36% below area

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Look at the space in this home. You have everything from a fenced in yard to a cute sitting porch. This home is located in Timber Ridge Park and lot rent is 400 a month. In 2025 this home has had new carpet, paint and many touch ups. The shed is staying with the property. The primary bedroom offers a nice ensuite with a large soaking tub and walk in closet. The other 2 bedrooms are good in size. The living room and dining room are very open and overlook the sliding glass door heading to the porch.

Key facts

• Clayton built model
• Large living room
• Walk in closet

Tags

• BRAND NEW HOME
• CLAYTON BUILT MODEL
• LARGE LIVING ROOM
• PRIMARY BEDROOM WITH ENSUITE
• WALK IN CLOSET
• NEW APPLIANCE PACKAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $56k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#344 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Vinton-Shellsburg Community School District (rural): math 79% / reading 77% proficiency, ranked #43 of 289 in IA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 16 active listings in the ZIP; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($386 loan paydown + $3k appreciation (6.2% local appreciation)).
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $3k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $56k implies a 124% gain — meaningful room to come down on a strong offer.

Recommended offer $49,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.29% ✓
• Cap rate: 19.74%
• Cash-on-cash: 48.02%
• DSCR: 3.14
• GRM: 3.6

CMA / ARV

• ARV (median comp): $35,000
• List price: $55,900
• Delta: 59.71%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

6.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.2%
• Equity multiple: 4.62×
• Total profit: $56,689
• Equity at exit: $35,818

10-year hold

• IRR: 53.9%
• Equity multiple: 9.65×
• Total profit: $135,387
• Equity at exit: $65,548

Cash invested: $15,652 (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 52332

• Home prices YoY: 3.2%
• Active inventory: 16
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$293
• Tax est. 1.5%: −$70 /mo · $838/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $626

Break-even live

Break-even rent $489

Max offer price $55,900

Occupancy floor 46%

Sensitivity live

Price	-10% $665	-5% $646	+0% $626	+5% $607	+10% $588
Rent	-10% $525	-5% $576	+0% $626	+5% $677	+10% $728
Rate	-1.0pp $655	-0.5pp $641	base $626	+0.5pp $612	+1.0pp $597

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: $13,975
• Closing costs: $1,677
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on marketlisting id $55,900 Active 122 DOM
2. 2026-06-18
   days on market $55,900 Active 114 DOM
3. 2026-06-18
   days on marketlisting id $55,900 Active 113 DOM
4. 2026-06-17
   days on market $55,900 Active 119 DOM
5. 2026-06-16
   days on market $55,900 Active 118 DOM
6. 2026-06-15
   days on market $55,900 Active 117 DOM
7. 2026-06-13
   days on market $55,900 Active 115 DOM
8. 2026-06-12
   days on market $55,900 Active 114 DOM
9. 2026-06-09
   days on market $55,900 Active 111 DOM
10. 2026-06-08
    days on market $55,900 Active 110 DOM
11. 2026-06-07
    days on market $55,900 Active 109 DOM
12. 2026-06-07
    days on market $55,900 Active 108 DOM
13. 2026-06-04
    days on market $55,900 Active 105 DOM
14. 2026-06-02
    days on market $55,900 Active 104 DOM
15. 2026-06-01
    days on market $55,900 Active 103 DOM
16. 2026-05-31
    days on market $55,900 Active 102 DOM
17. 2026-05-31
    days on market $55,900 Active 101 DOM
18. 2026-05-14
    status Pending 502-char remark

    Show marketing remark (502 chars)

    Look at the space in this home. You have everything from a fenced in yard to a cute sitting porch. This home is located in Timber Ridge Park and lot rent is 400 a month. In 2025 this home has had new carpet, paint and many touch ups. The shed is staying with the property. The primary bedroom offers a nice ensuite with a large soaking tub and walk in closet. The other 2 bedrooms are good in size. The living room and dining room are very open and overlook the sliding glass door heading to the porch.

19. 2026-04-24
    price $55,900 361-char remark

    Show marketing remark (502 chars)

    Look at the space in this home. You have everything from a fenced in yard to a cute sitting porch. This home is located in Timber Ridge Park and lot rent is 400 a month. In 2025 this home has had new carpet, paint and many touch ups. The shed is staying with the property. The primary bedroom offers a nice ensuite with a large soaking tub and walk in closet. The other 2 bedrooms are good in size. The living room and dining room are very open and overlook the sliding glass door heading to the porch.

20. 2026-04-24
    price $35,900 502-char remark

    Show marketing remark (502 chars)

    Look at the space in this home. You have everything from a fenced in yard to a cute sitting porch. This home is located in Timber Ridge Park and lot rent is 400 a month. In 2025 this home has had new carpet, paint and many touch ups. The shed is staying with the property. The primary bedroom offers a nice ensuite with a large soaking tub and walk in closet. The other 2 bedrooms are good in size. The living room and dining room are very open and overlook the sliding glass door heading to the porch.

21. 2026-04-24
    price $55,900

    Show marketing remark (502 chars)

    Look at the space in this home. You have everything from a fenced in yard to a cute sitting porch. This home is located in Timber Ridge Park and lot rent is 400 a month. In 2025 this home has had new carpet, paint and many touch ups. The shed is staying with the property. The primary bedroom offers a nice ensuite with a large soaking tub and walk in closet. The other 2 bedrooms are good in size. The living room and dining room are very open and overlook the sliding glass door heading to the porch.

22. 2026-03-13
    soldstatus $25,000 Closed
23. 2026-02-23
    status Pending
24. 2026-02-18
    listed $59,000 Active 361-char remark

    Show marketing remark (361 chars)

    Welcome to this 3 bedroom 2 bath home. It is a brand new home on the lot. This home is a Clayton built model and offers a large living room, primary bedroom with ensuite and walk in closet. You will be the first to own this home. It is complete with a new appliance package and neutral paint. Leaving for you to add your touch. This home is sold as is/where is.

25. 2026-02-18
    listed $59,000 Active

    Show marketing remark (361 chars)

    Welcome to this 3 bedroom 2 bath home. It is a brand new home on the lot. This home is a Clayton built model and offers a large living room, primary bedroom with ensuite and walk in closet. You will be the first to own this home. It is complete with a new appliance package and neutral paint. Leaving for you to add your touch. This home is sold as is/where is.

26. 2026-02-05
    listed $49,000 Active 502-char remark

    Show marketing remark (502 chars)

    Look at the space in this home. You have everything from a fenced in yard to a cute sitting porch. This home is located in Timber Ridge Park and lot rent is 400 a month. In 2025 this home has had new carpet, paint and many touch ups. The shed is staying with the property. The primary bedroom offers a nice ensuite with a large soaking tub and walk in closet. The other 2 bedrooms are good in size. The living room and dining room are very open and overlook the sliding glass door heading to the porch.

27. 2026-01-29
    listed $25,000 Active
28. 2025-09-30
    price $59,000
29. 2025-09-30
    price $59,000
30. 2025-08-13
    listed $65,000 Active
31. 2025-08-13
    listed $65,000 Active
32. 1992-07-01
    soldstatus $485,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,382
• − Mortgage interest: −$3,131
• − Property taxes: −$838
• − Insurance: −$280
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$1,626
• Taxable income: $7,046
• Est. tax owed @ 24.0%: −$1,691
• After-tax cash flow: $5,825/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: Vinton-Shellsburg Community School District
• NCES district ID: 1929310
• Math proficiency: 79% ▼ -6.00%
• Reading proficiency: 77% ▼ -1.00%
• Median HH income: $52,023
• Composite: 66.21/100
• National rank: #430
• State rank: #43 of 289 in IA

Livability — Shellsburg

• Score: 71/100
• State rank: #344
• US rank: #7017

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,638

Population outlook (Benton County) Hauer SSP2

• Today (2025): 25,078 people
• By 2030: 24,606 · -1.9%
• By 2040: 23,425 · -6.6%
• By 2050: 21,891 · -12.7%
• By 2075: 19,482 · -22.3%
• By 2100: 17,139 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.3%
• 2008→2024 swing: -37.7pp toward R · 2008: 4.5pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+27.5 2016: R+26.0 2012: R+0.6 2008: D+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.19%
• Current HPI: 202.2662
• 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

-88.5% since first listed

15 events — show timeline

• 2026-05-14 Pending — ICAARMLS
• 2026-04-24 Price Changed $55,900 ICAARMLS
• 2026-04-24 Price Changed $55,900 ICAARMLS
• 2026-04-24 Price Changed $35,900 ICAARMLS
• 2026-03-13 Sold (MLS) $25,000 ICAARMLS
• 2026-02-23 Pending — ICAARMLS
• 2026-02-18 Listed $59,000 ICAARMLS
• 2026-02-18 Listed $59,000 ICAARMLS
• 2026-02-05 Listed $49,000 ICAARMLS
• 2026-01-29 Listed $25,000 ICAARMLS
• 2025-09-30 Price Changed $59,000 ICAARMLS
• 2025-09-30 Price Changed $59,000 ICAARMLS
• 2025-08-13 Listed $65,000 ICAARMLS
• 2025-08-13 Listed $65,000 ICAARMLS
• 1992-07-01 Sold (Public Records) $485,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $17,310 · +1.5% YoY. Source: county tax records.