418 Peterson St · Alta, IA 51002

$135,000

3 bd · 3.0 ba · 1,564 sqft · SingleFamily public records · 6 Days on market

Built 1920 0.29 ac lot Est $131k · at est. ↓ 15% since listing

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Why this score? — see what drove the C- 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 +15.9/30.0
• Appreciation +10.0/10.0
• ARV discount +6.3/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This historic home contains original woodworking, including hardwood floors and a built-in bench in the dining room. The house is sitting on a large corner lot with an extra fenced-in space for a garden or pets. Most of the windows have been replaced, and some have decorative glass.

Key facts

• Large corner lot
• Original woodworking
• Decorative glass

Tags

• ORIGINAL WOODWORKING
• HARDWOOD FLOORS
• BUILT-IN BENCH
• LARGE CORNER LOT
• FENCED-IN SPACE
• DECORATIVE GLASS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $64 ($767/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 $120k (11.1% below list).
• Recommended offer: $120k (11.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#391 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, health & safety D, amenities F.
• Market conditions: 164 units permitted in Buena Vista County in 2024 (71 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Buena Vista County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,033 (11.1% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $131,376
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 Peterson St	0.00mi	3/3.0	1,592 (+2%)	1mo	$133,000	$84	96
517 W Highway Hwy	0.11mi	3/1.5	1,574 (+1%)	21mo	$205,000	$130	70
405 Main St	0.16mi	3/1.5	1,560 (-0%)	20mo	$30,000	$19	69
121 Division St	0.24mi	3/1.5	1,405 (-10%)	1mo	$151,000	$107	65
402 Lake St	0.41mi	3/2.0	1,558 (-0%)	17mo	$51,000	$33	62
901 Cherokee St	0.31mi	2/2.0 (-1)	1,622 (+4%)	16mo	$150,000	$92	57
213 Prospect St	0.27mi	3/1.0	1,380 (-12%)	18mo	$80,000	$58	45

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: 25.7%
• Equity multiple: 3.05×
• Total profit: $77,582
• Equity at exit: $121,619

10-year hold

• IRR: 22.6%
• Equity multiple: 6.96×
• Total profit: $225,243
• Equity at exit: $262,275

Cash invested: $37,800 (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 51002

• Home prices YoY: 9.2%
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $64

Break-even live

Break-even rent $1,119

Max offer price $135,000

Occupancy floor 90%

Sensitivity live

Price	-10% $140	-5% $102	+0% $64	+5% $26	+10% $-13
Rent	-10% $-31	-5% $16	+0% $64	+5% $111	+10% $159
Rate	-1.0pp $132	-0.5pp $98	base $64	+0.5pp $29	+1.0pp $-7

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-06
   status Pending
2. 2026-03-31
   listed $135,000 Active
3. 2025-11-19
   price $154,000
4. 2025-10-17
   listed $159,000 Active

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,781 · $148/mo
• Expected delta: +$339/yr (+$28/mo · 23.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $14,404
• − Mortgage interest: −$7,562
• − Property taxes: −$1,442
• − Insurance: −$675
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$3,927
• Taxable loss: −$1,507
• Est. tax savings @ 24.0%: +$362
• After-tax cash flow: $1,128/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)

No district data.

Livability — Alta

• Score: 69/100
• State rank: #391
• US rank: #8273

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alta, IA
• Population (ZIP): 2,866

Population outlook (Buena Vista County) Hauer SSP2

• Today (2025): 20,775 people
• By 2030: 21,101 · +1.6%
• By 2040: 21,955 · +5.7%
• By 2050: 23,202 · +11.7%
• By 2075: 27,159 · +30.7%
• By 2100: 29,578 · +42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 21% Asian 10% Black 6% Two or more races 5% Pacific Islander 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 4% Iranian 3% Ukrainian 2%
• Foreign-born: 19% · Canada, South Korea, Jamaica
• Languages at home: 67% English-only · Spanish 16% Other Asian/Pacific 12%

Political lean MEDSL · Buena Vista

• 2024 margin: Solid R (+33.3) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: -1.8pp · 2024: -33.3pp
• All cycles: 2024: R+33.3 2020: R+25.6 2016: R+25.0 2012: R+10.4 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.51%
• Current HPI: 266.2229
• 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

-15.1% since first listed

4 events — show timeline

• 2026-04-06 Pending — NWIA
• 2026-03-31 Listed $135,000 NWIA
• 2025-11-19 Price Changed $154,000 NWIA
• 2025-10-17 Listed $159,000 NWIA

Property tax history

+4.4%/yr

Latest (2025): $1,442 · -1.5% YoY. Source: county tax records.