104 S Sumner Ave · Creston, IA 50801

$22,900

3 bd · 1.5 ba · 1,620 sqft · SingleFamily public records · 262 Days on market

Built 1892 6,250 sqft lot $14/sqft · 73% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

Key facts

• 6,250 sq ft lot
• Garage
• Built 1892

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.
• Cap rate 49.5% vs local median 5.0% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 77 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $158 of loan paydown is wiped out by about $687 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $7k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $23k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.55% ✓
• Cap rate: 49.45%
• Cash-on-cash: 154.13%
• DSCR: 7.86
• GRM: 1.5

CMA / ARV

• ARV (median comp): $85,254
• List price: $22,900
• Delta: -73.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 W Montgomery St	0.20mi	4/2.0 (+1)	1,510 (-7%)	0mo	$144,000	$95	72
1010 W Montgomery St	0.14mi	4/1.5 (+1)	1,776 (+10%)	2mo	$168,000	$95	71
1100 W Jefferson St	0.14mi	4/2.0 (+1)	1,802 (+11%)	5mo	$260,000	$144	64
409 N Pine St N	0.71mi	3/2.0	1,605 (-1%)	7mo	$25,000	$16	58
404 W De Voe St	0.73mi	3/2.0	1,596 (-2%)	10mo	$200,000	$125	53
500 N Elm St	0.60mi	3/1.5	1,440 (-11%)	2mo	$141,000	$98	52
1445 170th St	0.67mi	3/2.0	1,700 (+5%)	9mo	$308,000	$181	51
213 N Oak St	0.47mi	3/1.5	1,402 (-14%)	6mo	$116,000	$83	50
410 N Pine St	0.68mi	3/1.0	1,460 (-10%)	4mo	$73,000	$50	47
606 S Pine St	0.72mi	4/1.0 (+1)	1,581 (-2%)	12mo	$145,000	$92	46
804 Goldenshores Lot 4	0.73mi	3/2.0	1,736 (+7%)	12mo	$97,000	$56	42
605 N Maple St	0.73mi	4/2.5 (+1)	1,718 (+6%)	6mo	$85,000	$49	42

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: —
• Equity multiple: 8.61×
• Total profit: $48,777
• Equity at exit: $3,414

10-year hold

• IRR: —
• Equity multiple: 18.18×
• Total profit: $110,153
• Equity at exit: $1,980

Cash invested: $6,412 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 77
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$120
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $824

Break-even live

Break-even rent $229

Max offer price $22,900

Occupancy floor 30%

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: $5,725
• Closing costs: $687
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $22,900 Active 262 DOM
2. 2026-06-17
   days on market $22,900 Active 261 DOM
3. 2026-06-16
   days on market $22,900 Active 260 DOM
4. 2026-06-15
   days on market $22,900 Active 259 DOM
5. 2026-06-13
   days on market $22,900 Active 257 DOM
6. 2026-06-12
   days on market $22,900 Active 256 DOM
7. 2026-06-09
   days on market $22,900 Active 253 DOM
8. 2026-06-08
   days on market $22,900 Active 252 DOM
9. 2026-06-07
   days on market $22,900 Active 251 DOM
10. 2026-06-07
    days on market $22,900 Active 250 DOM
11. 2026-06-04
    days on market $22,900 Active 247 DOM
12. 2026-06-02
    pricedays on market $22,900 Active 246 DOM
13. 2026-06-01
    days on market $24,900 Active 245 DOM
14. 2026-05-31
    days on market $24,900 Active 244 DOM
15. 2026-05-31
    days on market $24,900 Active 243 DOM
16. 2026-03-06
    price $24,900 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

17. 2025-12-22
    status Active 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

18. 2025-10-31
    price $28,000 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

19. 2025-06-30
    status Active 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

20. 2024-11-06
    price $36,000 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

21. 2024-11-06
    historical 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

22. 2024-11-06
    historical 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

23. 2024-08-15
    listed $30,000 Active 522-char remark

    Show marketing remark (522 chars)

    This old house is looking for an investor, contractor or gifted handyman who will return it to its once grand Victorian character. From the front door, there is an open stairway, a formal living room formal dining room, possible study or den. The large kitchen has many options to make it a very usable and great space to cook. A main floor bathroom completes the lower level. Upstairs, there are three bedrooms and another bath. The demo is complete and ready to finish. Electrical has some updating and furnace is newer.

24. 2020-11-02
    soldstatus $11,000
25. 2020-10-30
    soldstatus $11,000 456-char remark

    Show marketing remark (456 chars)

    Located on busy street, this Victorian has much of the original wood trim. 2 sets of oak colonades separate the foyer from the living room. Fancy glass front window and leaded window on open staircase wall. Both bathroom floors need attention. Large open front wrap around porch needs some work on the floor. 3 bedrooms upstairs. Detached garage and drive could be made through to the alley so you don't have to back up to get out. AGENT: SEE AGENT REMARKS

26. 2020-08-07
    listed $20,000 456-char remark

    Show marketing remark (456 chars)

    Located on busy street, this Victorian has much of the original wood trim. 2 sets of oak colonades separate the foyer from the living room. Fancy glass front window and leaded window on open staircase wall. Both bathroom floors need attention. Large open front wrap around porch needs some work on the floor. 3 bedrooms upstairs. Detached garage and drive could be made through to the alley so you don't have to back up to get out. AGENT: SEE AGENT REMARKS

ⓘ 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: $614 · $51/mo
• Projected year-2 tax: $614 · $51/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,257
• − Mortgage interest: −$1,283
• − Property taxes: −$614
• − Insurance: −$114
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$666
• Taxable income: $10,138
• Est. tax owed @ 24.0%: −$2,433
• After-tax cash flow: $7,450/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

Amenities F Commute C 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: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

+24.5% since first listed

11 events — show timeline

• 2026-03-06 Price Changed $24,900 DMMLS
• 2025-12-22 Relisted — DMMLS
• 2025-10-31 Price Changed $28,000 DMMLS
• 2025-06-30 Relisted — DMMLS
• 2024-11-06 Listing Removed — DMMLS
• 2024-11-06 Listing Removed — DMMLS
• 2024-11-06 Price Changed $36,000 DMMLS
• 2024-08-15 Listed $30,000 DMMLS
• 2020-11-02 Sold (Public Records) $11,000 Public Records
• 2020-10-30 Sold (MLS) $11,000 IAR
• 2020-08-07 Listed $20,000 IAR

Property tax history

-4.5%/yr

Latest (2025): $614 · -9.4% YoY. Source: county tax records.