4081/2 New York Ave · Creston, IA 50801

$77,500

2 bd · 1.0 ba · 928 sqft · SingleFamily · 42 Days on market

Built 1931 Fair condition 5,227 sqft lot $84/sqft · 20% below area Est $97k · 20% under ↓ 3% since listing

---

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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.2/10.0
• Schools +5.5/10.0
• 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

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 residence; Residential property
• Construction: Metal siding
• Exterior features: Lot approximately 40 x 135 (0.12 acre)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Basement present; Window air conditioning units; Forced air heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($943 rent vs $78k).
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 $536 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $75,175 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.59%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $97,359
• List price: $77,500
• Delta: -20.40%
• 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
103 N Sycamore St	0.25mi	2/1.0	960 (+3%)	8mo	$120,000	$125	76
510 Wyoming Ave	0.22mi	2/1.0	886 (-4%)	9mo	$115,000	$130	75
408 S Elm St	0.28mi	2/1.0	852 (-8%)	2mo	$68,000	$80	71
303 W Mills St	0.46mi	2/1.0	997 (+7%)	1mo	$60,000	$60	65
905 W Montgomery St	0.36mi	2/1.0	1,018 (+10%)	2mo	$181,500	$178	65
304 N Birch St	0.66mi	2/1.0	880 (-5%)	2mo	$20,000	$23	59
901 W Adair St	0.48mi	3/1.0 (+1)	864 (-7%)	2mo	$30,000	$35	59
500 Levy St	0.64mi	3/1.0 (+1)	960 (+3%)	4mo	$78,000	$81	56
1206 W Adair St	0.61mi	3/3.0 (+1)	960 (+3%)	1mo	$235,000	$245	52
405 S Vine St	0.61mi	2/1.0	826 (-11%)	3mo	$86,000	$104	51
208 N Cherry St	0.73mi	3/1.0 (+1)	989 (+7%)	0mo	$50,000	$51	50
606 N Elm St	0.72mi	3/1.0 (+1)	1,004 (+8%)	1mo	$115,000	$115	47

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $808
• Equity at exit: $11,556

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $17,955
• Equity at exit: $6,701

Cash invested: $21,700 (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: 6.8×

Monthly cashflow live

• Estimated rent: $943 medium
• Mortgage (P&I): −$406
• Tax est. 1.5%: −$97 /mo · $1,162/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $210

Break-even live

Break-even rent $678

Max offer price $77,500

Occupancy floor 73%

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   remarks 250-char remark
2. 2026-06-18
   price $77,500 Active 42 DOM
3. 2026-06-18
   days on market $80,000 Active 42 DOM
4. 2026-06-17
   days on market $80,000 Active 41 DOM
5. 2026-06-16
   days on market $80,000 Active 40 DOM
6. 2026-06-15
   days on market $80,000 Active 39 DOM
7. 2026-06-13
   days on market $80,000 Active 37 DOM
8. 2026-06-12
   days on market $80,000 Active 36 DOM
9. 2026-06-09
   days on market $80,000 Active 33 DOM
10. 2026-06-08
    days on market $80,000 Active 32 DOM
11. 2026-06-07
    days on market $80,000 Active 31 DOM
12. 2026-06-07
    days on market $80,000 Active 30 DOM
13. 2026-06-04
    days on market $80,000 Active 27 DOM
14. 2026-06-02
    days on market $80,000 Active 26 DOM
15. 2026-06-01
    days on market $80,000 Active 25 DOM
16. 2026-05-31
    days on market $80,000 Active 24 DOM
17. 2026-05-31
    days on market $80,000 Active 23 DOM
18. 2026-05-06
    listed $80,000 Active 305-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 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: $11,320
• − Mortgage interest: −$4,341
• − Property taxes: −$1,162
• − Insurance: −$388
• − Repairs & maintenance: −$906
• − Management: −$906
• − Depreciation: −$2,255
• Taxable income: $1,363
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $2,189/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and tear	Major	$15,000–50,000
siding · Weathered and peeling	Major	$15,000–50,000
landscaping · Cluttered yard with debris	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

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

ⓘ 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: 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

-3.1% since first listed

2 events — show timeline

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