4081/2 New York Ave · Creston, IA 50801

$72,000

2 bd · 1.0 ba · 928 sqft · SingleFamily · 185 Days on market

Built 1931 Fair condition 5,227 sqft lot Garage $78/sqft · 38% below area Est $117k · 38% under ↓ 3% since listing

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Why this score? — see what drove the B 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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Schools +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Cozy 2 bed room home with a large family room, nice sized dinning room, 3/4 basement with indoor and out side entrance that could be used for a garage. Close to up town for an easy walk. Sellers are willing to give rebate for repairs or closing cost.

Key facts

• Alley entrance
• 5,227 sq ft lot
• Garage

Tags

• ALLEY ENTRANCE
• GARAGE UNDER THE HOME

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $72k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($866 rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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.
• Zoned schools: Creston Elementary School (math 60% / reading 49%, grade C, #462 of 616 statewide, top 79%, 410 students, 55% FRL); Creston Middle School (math 65% / reading 74%, grade A, #113 of 246 statewide, top 49%, 291 students, 60% FRL); Creston High School (math 63% / reading 78%, grade B+, #140 of 336 statewide, top 43%, 532 students, 46% FRL).
• Market conditions: 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% 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 1931 — 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 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. 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: 1.20% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (median comp): $116,921
• List price: $72,000
• Delta: -38.42%
• 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
307 W Mills St	0.45mi	2/1.0	936 (+1%)	3mo	$95,000	$101	75
408 S Elm St	0.28mi	2/1.0	852 (-8%)	7mo	$68,000	$80	68
409 N Oak St	0.57mi	2/1.0	914 (-2%)	4mo	$19,500	$21	67
303 W Mills St	0.46mi	2/1.0	997 (+7%)	6mo	$60,000	$60	62
505 N Pine St	0.71mi	2/2.0	936 (+1%)	1mo	$146,000	$156	60
304 N Birch St	0.66mi	2/1.0	880 (-5%)	6mo	$20,000	$23	55
901 W Adair St	0.48mi	3/1.0 (+1)	864 (-7%)	7mo	$30,000	$35	55
307 N Pine St	0.59mi	2/1.0	1,036 (+12%)	1mo	$65,000	$63	52
1206 W Adair St	0.61mi	3/3.0 (+1)	960 (+3%)	6mo	$235,000	$245	48
208 N Cherry St	0.73mi	3/1.0 (+1)	989 (+7%)	5mo	$50,000	$51	46
204 N Bureau St	0.59mi	3/1.0 (+1)	1,040 (+12%)	3mo	$77,500	$75	45
606 N Elm St	0.72mi	3/1.0 (+1)	1,004 (+8%)	6mo	$115,000	$115	43

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $234
• Equity at exit: $10,735

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $15,565
• Equity at exit: $6,225

Cash invested: $20,160 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 16 under contract
• Months of supply: 4.4 mo (23%/mo absorbed)
• Median asking: $115,000 ($130/sqft)
• Median days on market: 128 d
• This list price: 36% of active listings are priced below it
• ARV vs active asking: -3.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50801

• Home prices YoY: -5.9%
• Active inventory: 133
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $866 medium
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $187

Break-even live

Break-even rent $630

Max offer price $72,000

Occupancy floor 73%

Sensitivity live

Price	-10% $236	-5% $212	+0% $187	+5% $162	+10% $137
Rent	-10% $118	-5% $152	+0% $187	+5% $221	+10% $255
Rate	-1.0pp $223	-0.5pp $205	base $187	+0.5pp $168	+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: $18,000
• Closing costs: $2,160
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 W New York Ave Apt 5 Creston, IA	1.0	1.0	660	$775	$1.17	38d	1	0.08mi
100 S Peterson St Creston, IA	1.0–2.0	1.0	319	$1,515	$4.75	0d	1	0.34mi

Property features AI

Finance

• Other: Directions: From Adams turn on New York Ave; go approximately 2 blocks, house is on the right
• Financial info: Annual property tax approximately $840

Exterior

• Parking: Detached or attached garage with 1 garage space (concrete parking surface)
• Utilities: Public sewer
• Home design: Single-family residenceResidential property
• Construction: Metal siding
• Exterior features: Lot approximately 40 x 135 (0.12 acre)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Basement presentWindow air conditioning unitsForced air heating

Listing history 50 events

1. 2026-11-08
   days on market $72,000 Active 185 DOM
2. 2026-11-07
   days on market $72,000 Active 184 DOM
3. 2026-11-06
   days on market $72,000 Active 183 DOM
4. 2026-11-05
   days on market $72,000 Active 182 DOM
5. 2026-11-04
   days on market $72,000 Active 181 DOM
6. 2026-11-02
   days on market $72,000 Active 179 DOM
7. 2026-11-01
   days on market $72,000 Active 178 DOM
8. 2026-10-31
   days on market $72,000 Active 177 DOM
9. 2026-10-31
   days on market $72,000 Active 176 DOM
10. 2026-10-29
    days on market $72,000 Active 175 DOM
11. 2026-10-28
    days on market $72,000 Active 174 DOM
12. 2026-10-27
    days on market $72,000 Active 173 DOM
13. 2026-10-26
    days on market $72,000 Active 172 DOM
14. 2026-10-25
    days on market $72,000 Active 171 DOM
15. 2026-10-24
    days on market $72,000 Active 170 DOM
16. 2026-10-23
    days on market $72,000 Active 169 DOM
17. 2026-10-22
    days on market $72,000 Active 168 DOM
18. 2026-10-21
    days on market $72,000 Active 167 DOM
19. 2026-10-20
    days on market $72,000 Active 166 DOM
20. 2026-10-19
    days on market $72,000 Active 165 DOM
21. 2026-10-18
    days on market $72,000 Active 164 DOM
22. 2026-10-17
    days on market $72,000 Active 163 DOM
23. 2026-10-16
    days on market $72,000 Active 162 DOM
24. 2026-10-15
    days on market $72,000 Active 161 DOM
25. 2026-10-14
    days on market $72,000 Active 160 DOM
26. 2026-10-14
    days on market $72,000 Active 159 DOM
27. 2026-10-12
    days on market $72,000 Active 158 DOM
28. 2026-10-11
    days on market $72,000 Active 157 DOM
29. 2026-10-10
    days on market $72,000 Active 156 DOM
30. 2026-10-09
    days on market $72,000 Active 155 DOM
31. 2026-10-08
    days on market $72,000 Active 154 DOM
32. 2026-10-07
    days on market $72,000 Active 153 DOM
33. 2026-10-06
    pricedays on market $72,000 Active 152 DOM
34. 2026-10-05
    days on market $77,500 Active 151 DOM
35. 2026-10-04
    days on market $77,500 Active 150 DOM
36. 2026-10-04
    days on market $77,500 Active 149 DOM
37. 2026-10-02
    days on market $77,500 Active 148 DOM
38. 2026-10-01
    days on market $77,500 Active 147 DOM
39. 2026-09-30
    days on market $77,500 Active 146 DOM
40. 2026-09-29
    days on market $77,500 Active 145 DOM
41. 2026-09-28
    days on market $77,500 Active 144 DOM
42. 2026-09-27
    days on market $77,500 Active 143 DOM
43. 2026-09-26
    days on market $77,500 Active 142 DOM
44. 2026-09-25
    days on market $77,500 Active 141 DOM
45. 2026-09-24
    days on market $77,500 Active 140 DOM
46. 2026-09-23
    days on market $77,500 Active 139 DOM
47. 2026-09-21
    days on market $77,500 Active 137 DOM
48. 2026-09-20
    days on market $77,500 Active 136 DOM
49. 2026-09-19
    days on market $77,500 Active 135 DOM
50. 2026-09-18
    days on market $77,500 Active 134 DOM

ⓘ 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 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: $10,393
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$831
• − Management: −$831
• − Depreciation: −$2,095
• Taxable income: $1,163
• Est. tax owed @ 24.0%: −$279
• After-tax cash flow: $1,961/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 · 5 photos

Fair 45/100 Moderate rehab Est. rehab $23,200–$41,760 screening

This property requires significant exterior repairs and maintenance, but has potential for a moderate renovation to increase its value.

Repairs flagged

• Major roof — Signs of wear and tear
• Major siding — Weathered and peeling
• Major landscaping — Cluttered yard with debris

Value-add opportunities

• Both paint exterior — Fresh paint would improve curb appeal and value ↑
• Both landscaping — A well-maintained yard would enhance curb appeal and attract tenants ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

B Composite school gradezoned avg 70/100

Zoned Schools

Elementary Creston Early Childhood Center Middle Creston Middle School A IA #113/246 Nat'l #858/14,009 High Creston High School B+ IA #140/336 Nat'l #2,083/17,239

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

A Composite livability gradescore 81/100

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
• County: Union · 12,536 people
• Population (ZIP): 9,027
• Household income: $55,453
• Rent vs Own: 29.9% rent · 70.1% own

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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%

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Race, ethnicity, and origin ACS 2023

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

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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

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Property features AI

Finance

• Other: Directions: From Adams turn on New York Ave; go approximately 2 blocks, house is on the right
• Financial info: Annual property tax approximately $840

Exterior

• Parking: Detached or attached garage with 1 garage space (concrete parking surface)
• Utilities: Public sewer
• Home design: Single-family residenceResidential property
• Construction: Metal siding
• Exterior features: Lot approximately 40 x 135 (0.12 acre)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Basement presentWindow air conditioning unitsForced air heating

Price history

-3.1% since first listed

2 events — show timeline

• 2026-06-18 Price Changed $77,500 IAR
• 2026-05-06 Listed $80,000 IAR