302 1st Ave · Audubon, IA 50025

$29,950

2 bd · 1.0 ba · 1,307 sqft · SingleFamily public records · 43 Days on market

Built 1905 7,405 sqft lot $23/sqft · 73% 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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located on a corner lot with over 1,300sf of living space. The home features a covered porch, deck, fireplace, high efficiency furnace, and breaker box. Some TLC will go a long way.

Key facts

• Covered porch
• Breaker box
• Corner lot

Tags

• CORNER LOT
• COVERED PORCH
• HIGH EFFICIENCY FURNACE
• BREAKER BOX

Property features AI

Exterior

• Parking: 1-car garage (off-site parking indicated)
• Utilities: Public water; Public sewer
• Home design: Two-level single-family home; Wood siding construction
• Construction: Wood siding
• Exterior features: Lot approximately 0.17 acres (50 x 150)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Fireplace (1); Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#95 in IA, #1,992 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Audubon Community School District (rural): math 73% / reading 80% proficiency, ranked #64 of 289 in IA (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 24 active listings in the ZIP; 4 units permitted in Audubon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($208 loan paydown + $3k appreciation (10.0% local appreciation)).
• Audubon County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,051 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.54% ✓
• Cap rate: 31.52%
• Cash-on-cash: 90.09%
• DSCR: 5.01
• GRM: 2.4

CMA / ARV

• ARV (median comp): $112,631
• List price: $29,950
• Delta: -73.41%
• 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
702 E Division St	0.35mi	2/1.0	1,302 (-0%)	4mo	$95,000	$73	79
505 South St	0.15mi	2/2.0	1,320 (+1%)	10mo	$175,000	$133	79
613 Tracy St	0.27mi	2/1.0	1,204 (-8%)	0mo	$117,000	$97	74
1012 N Division St	0.36mi	3/2.0 (+1)	1,248 (-4%)	9mo	$232,000	$186	59
619 Tracy St	0.28mi	3/2.0 (+1)	1,218 (-7%)	11mo	$117,500	$96	57
708 1st Ave	0.37mi	3/1.5 (+1)	1,440 (+10%)	2mo	$74,000	$51	57
911 Broadway St	0.17mi	3/2.0 (+1)	1,144 (-12%)	8mo	$165,000	$144	55
1111 Broadway St	0.34mi	3/2.0 (+1)	1,188 (-9%)	12mo	$165,000	$139	50
303 Pacific Ave	0.69mi	3/1.5 (+1)	1,238 (-5%)	3mo	$154,000	$124	50
206 5th Ave	0.35mi	3/2.0 (+1)	1,152 (-12%)	8mo	$140,000	$122	48
720 3rd Ave	0.38mi	3/2.0 (+1)	1,465 (+12%)	12mo	$320,000	$218	43
313 Mantz Ave	0.46mi	3/2.0 (+1)	1,123 (-14%)	4mo	$175,000	$156	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 99.1%
• Equity multiple: 7.73×
• Total profit: $56,428
• Equity at exit: $26,981

10-year hold

• IRR: 94.4%
• Equity multiple: 17.06×
• Total profit: $134,667
• Equity at exit: $58,186

Cash invested: $8,386 (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 50025

• Home prices YoY: 5.4%
• Active inventory: 24
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $449/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $630

Break-even live

Break-even rent $262

Max offer price $29,950

Occupancy floor 36%

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: $7,488
• Closing costs: $898
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $29,950 Active 43 DOM
2. 2026-06-17
   days on market $29,950 Active 42 DOM
3. 2026-06-16
   days on market $29,950 Active 41 DOM
4. 2026-06-15
   days on market $29,950 Active 40 DOM
5. 2026-06-13
   days on market $29,950 Active 38 DOM
6. 2026-06-12
   days on market $29,950 Active 37 DOM
7. 2026-06-09
   days on market $29,950 Active 34 DOM
8. 2026-06-08
   days on market $29,950 Active 33 DOM
9. 2026-06-07
   days on market $29,950 Active 32 DOM
10. 2026-06-05
    days on market $29,950 Active 30 DOM
11. 2026-06-04
    days on market $29,950 Active 28 DOM
12. 2026-06-02
    days on market $29,950 Active 27 DOM
13. 2026-06-01
    days on market $29,950 Active 26 DOM
14. 2026-05-31
    days on market $29,950 Active 25 DOM
15. 2026-05-31
    days on market $29,950 Active 24 DOM
16. 2026-05-06
    listed $29,950 Active 181-char remark

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,708
• − Mortgage interest: −$1,678
• − Property taxes: −$449
• − Insurance: −$150
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$871
• Taxable income: $7,526
• Est. tax owed @ 24.0%: −$1,806
• After-tax cash flow: $5,749/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: Audubon Community School District
• NCES district ID: 1903960
• Math proficiency: 73% ▲ 4.00%
• Reading proficiency: 80% ▲ 7.00%
• Median HH income: $45,632
• Composite: 64.32/100
• National rank: #552
• State rank: #64 of 289 in IA

Livability — Audubon

• Score: 79/100
• State rank: #95
• US rank: #1992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Audubon, IA
• Population (ZIP): 2,893

Population outlook (Audubon County) Hauer SSP2

• Today (2025): 5,157 people
• By 2030: 4,837 · -6.2%
• By 2040: 4,241 · -17.8%
• By 2050: 3,679 · -28.7%
• By 2075: 2,917 · -43.4%
• By 2100: 2,408 · -53.3%

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: Iranian 3% Portuguese 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Audubon

• 2024 margin: Solid R (+38.4) · D 29.9% · R 68.3% · Other 1.7%
• 2008→2024 swing: -41.5pp toward R · 2008: 3.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+35.8 2016: R+31.2 2012: R+5.6 2008: D+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.14%
• Current HPI: 217.58
• 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

1 event — show timeline

• 2026-05-06 Listed $29,950 IAR

Property tax history

+2.7%/yr

Latest (2025): $1,808 · +50.9% YoY. Source: county tax records.