2098 60th Street Drive Dr · Vinton, IA 52349

$119,000

4 bd · 1.5 ba · 3,999 sqft · SingleFamily · 68 Days on market

Built 1900 Poor condition 5.24 ac lot $30/sqft · 80% 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 +13.9/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

Key facts

• 5.24 acre lot
• Built 1900
• Listed 67 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $119k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $14 ($164/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 $106k (11.1% below list).
• Recommended offer: $106k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 1.9% in Vinton — 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 80/100 on livability (#88 in IA, #1,848 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: employment C-, amenities F, commute 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: 61 active listings in the ZIP; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $105,831 (11.1% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 0.89% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $605,000
• List price: $119,000
• Delta: -80.33%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-18,396
• Equity at exit: $17,743

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-14,832
• Equity at exit: $10,289

Cash invested: $33,320 (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 52349

• Home prices YoY: -29.0%
• Active inventory: 61
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $14

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 94%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $119,000 Active 68 DOM
2. 2026-06-17
   days on market $119,000 Active 67 DOM
3. 2026-06-16
   days on market $119,000 Active 66 DOM
4. 2026-06-15
   days on market $119,000 Active 65 DOM
5. 2026-06-13
   days on market $119,000 Active 63 DOM
6. 2026-06-12
   days on market $119,000 Active 62 DOM
7. 2026-06-09
   days on market $119,000 Active 59 DOM
8. 2026-06-08
   days on market $119,000 Active 58 DOM
9. 2026-06-07
   days on market $119,000 Active 57 DOM
10. 2026-06-07
    days on market $119,000 Active 56 DOM
11. 2026-06-04
    days on market $119,000 Active 53 DOM
12. 2026-06-02
    days on market $119,000 Active 52 DOM
13. 2026-06-01
    days on market $119,000 Active 51 DOM
14. 2026-05-31
    days on market $119,000 Active 50 DOM
15. 2026-05-31
    days on market $119,000 Active 49 DOM
16. 2026-05-12
    status Active 173-char remark

    Show marketing remark (173 chars)

    Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

17. 2026-05-12
    status Active 173-char remark

    Show marketing remark (173 chars)

    Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

18. 2026-03-14
    status Pending 173-char remark

    Show marketing remark (173 chars)

    Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

19. 2026-03-14
    status Pending 173-char remark

    Show marketing remark (173 chars)

    Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

20. 2026-02-12
    listed $119,000 Active 173-char remark

    Show marketing remark (173 chars)

    Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

21. 2026-02-12
    listed $119,000 Active 173-char remark

    Show marketing remark (173 chars)

    Great investment property! A secluded 5.24 acres with the possibility of building your dream home. When viewing property, please enter at your own risk and park on the road.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $12,700
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$3,462
• Taxable loss: −$1,840
• Est. tax savings @ 24.0%: +$442
• After-tax cash flow: $606/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.

Condition & rehab AI · 3 photos

Poor 20/100 Extensive rehab

This property is in a state of abandonment and requires extensive repairs and maintenance to be considered habitable.

Repairs flagged

• Major roof — Structural damage or missing roof
• Major exterior siding — Overgrown vegetation and possible structural issues
• Major interior walls — No visible interior
• Major flooring — No visible interior
• Major HVAC/mechanicals — No visible interior

Value-add opportunities

• Both Clear overgrown vegetation and assess roof and exterior for structural integrity — Improves safety and curb appeal
• Both Inspect interior for structural damage and assess HVAC systems — Improves safety and functionality
• Both Repair or replace roof and siding — Improves safety and curb appeal
• Both Replace flooring and interior walls — Improves safety and functionality
• Both Install new HVAC system — Improves safety and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Structural damage or missing roof	Major	$15,000–50,000
exterior siding · Overgrown vegetation and possible structural issues	Major	$15,000–50,000
interior walls · No visible interior	Major	$15,000–50,000
flooring · No visible interior	Major	$15,000–50,000
HVAC/mechanicals · No visible interior	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Clear overgrown vegetation and assess roof and exterior for structural integrity — Improves safety and curb appeal ↑
• Both Inspect interior for structural damage and assess HVAC systems — Improves safety and functionality ↑
• Both Repair or replace roof and siding — Improves safety and curb appeal ↑
• Both Replace flooring and interior walls — Improves safety and functionality ↑
• Both Install new HVAC system — Improves safety and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Vinton

• Score: 80/100
• State rank: #88
• US rank: #1848

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,745

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 7% Italian 3% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

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: ▼ -80.56%
• Current HPI: 197.3164
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-12 Relisted — CRAAR, CDRMLS
• 2026-05-12 Relisted — NEIRBR as distributed by MLS GRID
• 2026-03-14 Pending — CRAAR, CDRMLS
• 2026-03-14 Pending — NEIRBR as distributed by MLS GRID
• 2026-02-12 Listed $119,000 NEIRBR as distributed by MLS GRID
• 2026-02-12 Listed $119,000 CRAAR, CDRMLS