2001 1st Ave · Perry, IA 50220

$115,500

3 bd · 2.0 ba · 1,238 sqft · Other public records · 106 Days on market

Built 1890 5,760 sqft lot $93/sqft · 29% below area Est $173k · 33% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +11.3/30.0
• Schools +4.6/10.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This inviting 1.5 story home blends timeless architecture with functional layout. The main level offers a comfortable flow and features a spacious living room, formal dining room, bedroom, a full bath and nice sized kitchen with plenty of workspace. The second floor includes 2 additional bedrooms, and a bath, plus an unfinished basement and attached garage Auction, cash only, no physical access and no showings

Key facts

• Formal dining room
• Unfinished basement
• Functional layout

Tags

• TIMELESS ARCHITECTURE
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• NICE SIZED KITCHEN
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $116k.

Deal economics

• At list price, monthly cash flow is $-42 ($-509/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (10.3% below list).
• Recommended offer: $104k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.9% in Perry — 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 73/100 on livability (#273 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Perry Community School District (town): math 51% / reading 59% proficiency, ranked #266 of 289 in IA (top 92%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 49 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $799 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,617 (10.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — 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. 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?
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: 0.90% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 9.3

CMA / ARV

• ARV (median comp): $173,195
• List price: $115,500
• Delta: -33.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-21,363
• Equity at exit: $17,221

10-year hold

• IRR: -11.2%
• Equity multiple: 0.32×
• Total profit: $-21,860
• Equity at exit: $9,986

Cash invested: $32,340 (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 50220

• Home prices YoY: -30.2%
• Active inventory: 49
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,036 high
• Mortgage (P&I): −$606
• Tax from tax record: −$207 /mo · $2,486/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $-42

Break-even live

Break-even rent $1,090

Max offer price $108,008

Occupancy floor 99%

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1313 1st Ave Perry, IA	2.0	1.0	806	$700	$0.87	43d	1	0.48mi
2709 1st Ave Perry, IA	2.0	1.5	992	$950	$0.96	43d	1	0.65mi
913 Willis Ave Perry, IA	1.0–2.0	1.0–2.0	882	$1,000	$1.13	14d	1	0.70mi
1011 Evelyn St Unit 1 Perry, IA	2.0	2.0	1000	$895	$0.90	14d	1	0.82mi
2105 Willis Ave Perry, IA	3.0	2.5	1029	$1,595	$1.55	43d	1	0.99mi
2103 Willis Ave Perry, IA	3.0	2.5	1029	$1,595	$1.55	23d	1	1.02mi
303 8th St Unit 1 Perry, IA	2.0	1.0	750	$850	$1.13	43d	1	1.36mi
2516 Perry Park Ave Unit A Perry, IA	3.0	1.0	966	$850	$0.88	43d	1	1.38mi

Listing history 27 events

1. 2026-06-18
   days on market $115,500 Active 106 DOM
2. 2026-06-17
   days on market $115,500 Active 105 DOM
3. 2026-06-16
   days on market $115,500 Active 104 DOM
4. 2026-06-15
   days on market $115,500 Active 103 DOM
5. 2026-06-14
   days on market $115,500 Active 101 DOM
6. 2026-06-10
   days on market $115,500 Active 98 DOM
7. 2026-06-09
   days on market $115,500 Active 97 DOM
8. 2026-06-08
   days on market $115,500 Active 96 DOM
9. 2026-06-07
   days on market $115,500 Active 95 DOM
10. 2026-06-05
    days on market $115,500 Active 92 DOM
11. 2026-06-03
    days on market $115,500 Active 91 DOM
12. 2026-06-02
    days on market $115,500 Active 90 DOM
13. 2026-06-01
    days on market $115,500 Active 89 DOM
14. 2026-05-31
    days on market $115,500 Active 88 DOM
15. 2026-05-31
    days on market $115,500 Active 87 DOM
16. 2026-03-03
    listed $115,500 Active 413-char remark

    Show marketing remark (413 chars)

    This inviting 1.5 story home blends timeless architecture with functional layout. The main level offers a comfortable flow and features a spacious living room, formal dining room, bedroom, a full bath and nice sized kitchen with plenty of workspace. The second floor includes 2 additional bedrooms, and a bath, plus an unfinished basement and attached garage Auction, cash only, no physical access and no showings

17. 2024-02-29
    historical
18. 2024-01-31
    price $115,000
19. 2024-01-24
    price $125,000
20. 2024-01-05
    listed $138,000 Active
21. 2018-09-28
    soldstatus $114,875
22. 2018-09-26
    soldstatus $115,000 Sold
23. 2018-09-10
    status Pending
24. 2018-08-20
    listed $115,000 Active
25. 2015-05-07
    soldstatus $73,500
26. 2006-12-08
    soldstatus $68,000
27. 2000-05-26
    soldstatus $45,000

ⓘ 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: $2,486 · $207/mo
• Projected year-2 tax: $2,486 · $207/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,434
• − Mortgage interest: −$6,470
• − Property taxes: −$2,486
• − Insurance: −$578
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$3,360
• Taxable loss: −$2,449
• Est. tax savings @ 24.0%: +$588
• After-tax cash flow: $79/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: Perry Community School District
• NCES district ID: 1922530
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 59% ▲ 3.00%
• Median HH income: $44,382
• Composite: 46.37/100
• National rank: #2460
• State rank: #266 of 289 in IA

Livability — Perry

• Score: 73/100
• State rank: #273
• US rank: #5276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perry, IA
• City population: 9,251
• Population (ZIP): 9,251

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 111,904 people
• By 2030: 127,807 · +14.2%
• By 2040: 160,576 · +43.5%
• By 2050: 194,154 · +73.5%
• By 2075: 271,895 · +143.0%
• By 2100: 326,525 · +191.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 27% Two or more races 8% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Iranian 2% Slovak 2% Portuguese 2%
• Foreign-born: 16% · Canada
• Languages at home: 75% English-only · Spanish 22% German/W. Germanic 1% Arabic 0%

Political lean MEDSL · Dallas

• 2024 margin: Toss-up / Even · D 46.9% · R 51.7% · Other 1.4%
• 2008→2024 swing: +0.8pp no change · 2008: -5.5pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+2.0 2016: R+9.6 2012: R+11.8 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.94%
• Current HPI: 212.8459
• 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

+156.7% since first listed

12 events — show timeline

• 2026-03-03 Listed $115,500 SWIAR
• 2024-02-29 Listing Removed — DMMLS
• 2024-01-31 Price Changed $115,000 DMMLS
• 2024-01-24 Price Changed $125,000 DMMLS
• 2024-01-05 Listed $138,000 DMMLS
• 2018-09-28 Sold (Public Records) $114,875 Public Records
• 2018-09-26 Sold (MLS) $115,000 DMMLS
• 2018-09-10 Pending — DMMLS
• 2018-08-20 Listed $115,000 DMMLS
• 2015-05-07 Sold (Public Records) $73,500 Public Records
• 2006-12-08 Sold (Public Records) $68,000 Public Records
• 2000-05-26 Sold (Public Records) $45,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,486 · +1.3% YoY. Source: county tax records.