906 6th Ave · Belle Plaine, IA 52208

$88,900

2 bd · 1.0 ba · 1,180 sqft · SingleFamily public records · 249 Days on market

Built 1910 0.25 ac lot $75/sqft · 9% below area Est $119k · 25% under

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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 +19.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.2/10.0
• Schools +5.9/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very affordable living in BP! Enjoy a metal roof, nice hardwood floors, 1st floor laundry, main level bedroom & bathroom, upstairs is a nice landing area that could be used as another bedroom, office or extra hang out space. Aluminum siding, two single stall garages with alley access, updated breaker panel, 1/4 of an acre yard. See it for yourself!

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/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 $85k (4.4% below list).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.7% in Belle Plaine — 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 75/100 on livability (#215 in IA, #3,962 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Belle Plaine Community School District (rural): math 68% / reading 74% proficiency, ranked #144 of 289 in IA (top 50%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Longfellow Elementary School (math 72% / reading 72%, grade A-, #181 of 616 statewide, top 34%, 286 students, 44% FRL); Belle Plaine Jr/Sr High School (math 62% / reading 77%, grade B, #152 of 336 statewide, top 52%, 193 students, 35% FRL).
• Market conditions: 33 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Benton County population projected at -13% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $11k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $89k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.96% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 8.7

CMA / ARV

• ARV (median comp): $118,579
• List price: $88,900
• Delta: -25.03%
• 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
605 9th St	0.07mi	2/1.0	1,152 (-2%)	10mo	$151,000	$131	84
705 10th St	0.14mi	3/1.5 (+1)	1,176 (-0%)	6mo	$110,000	$94	81
608 6th Ave	0.27mi	2/1.0	1,108 (-6%)	15mo	$136,000	$123	65
409 11th St	0.14mi	3/1.0 (+1)	1,065 (-10%)	12mo	$102,000	$96	62
904 10th St	0.30mi	3/1.5 (+1)	1,093 (-7%)	10mo	$130,000	$119	58
1512 7th Ave	0.45mi	3/2.0 (+1)	1,201 (+2%)	14mo	$87,000	$72	56
1609 11th Ave	0.69mi	2/2.0	1,214 (+3%)	10mo	$105,000	$86	51
1210 8th St	0.59mi	3/2.0 (+1)	1,248 (+6%)	5mo	$185,000	$148	50
1406 4th Ave	0.38mi	3/1.0 (+1)	1,019 (-14%)	13mo	$119,900	$118	44
403 6th St St	0.36mi	3/1.0 (+1)	1,008 (-15%)	14mo	$174,000	$173	42
1502 6th Ave	0.39mi	3/1.5 (+1)	1,020 (-14%)	12mo	$123,500	$121	42
1509 9th Ave	0.54mi	3/2.0 (+1)	1,300 (+10%)	13mo	$270,000	$208	38

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: 27.9%
• Equity multiple: 3.21×
• Total profit: $54,957
• Equity at exit: $80,088

10-year hold

• IRR: 24.3%
• Equity multiple: 7.29×
• Total profit: $156,655
• Equity at exit: $172,713

Cash invested: $24,892 (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 52208

• Home prices YoY: 5.4%
• Active inventory: 33
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$466
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $103

Break-even live

Break-even rent $720

Max offer price $88,900

Occupancy floor 83%

Sensitivity live

Price	-10% $153	-5% $128	+0% $103	+5% $78	+10% $53
Rent	-10% $36	-5% $69	+0% $103	+5% $136	+10% $170
Rate	-1.0pp $148	-0.5pp $126	base $103	+0.5pp $80	+1.0pp $56

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: $22,225
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1307 12th Ave Unit 1409-M03 Belle Plaine, IA	2.0	1.0	800	$850	$1.06	15d	1	0.59mi
1409 12th Ave Apt 2 Belle Plaine, IA	2.0	1.0	700	$850	$1.21	22d	1	0.62mi

Listing history 25 events

1. 2026-06-21
   days on market $88,900 Active 249 DOM
2. 2026-06-21
   days on market $88,900 Active 248 DOM
3. 2026-06-18
   days on market $88,900 Active 246 DOM
4. 2026-06-17
   days on market $88,900 Active 245 DOM
5. 2026-06-16
   days on market $88,900 Active 244 DOM
6. 2026-06-15
   days on market $88,900 Active 243 DOM
7. 2026-06-13
   days on market $88,900 Active 241 DOM
8. 2026-06-12
   days on market $88,900 Active 240 DOM
9. 2026-06-09
   days on market $88,900 Active 237 DOM
10. 2026-06-08
    days on market $88,900 Active 236 DOM
11. 2026-06-07
    days on market $88,900 Active 235 DOM
12. 2026-06-07
    days on market $88,900 Active 234 DOM
13. 2026-06-04
    days on market $88,900 Active 231 DOM
14. 2026-06-02
    days on market $88,900 Active 230 DOM
15. 2026-06-01
    days on market $88,900 Active 229 DOM
16. 2026-05-31
    days on market $88,900 Active 228 DOM
17. 2026-05-31
    days on market $88,900 Active 227 DOM
18. 2026-03-30
    price $88,900 356-char remark

    Show marketing remark (356 chars)

    Very affordable living in BP! Enjoy a metal roof, nice hardwood floors, 1st floor laundry, main level bedroom & bathroom, upstairs is a nice landing area that could be used as another bedroom, office or extra hang out space. Aluminum siding, two single stall garages with alley access, updated breaker panel, 1/4 of an acre yard. See it for yourself!

19. 2025-11-28
    price $89,900 356-char remark

    Show marketing remark (356 chars)

    Very affordable living in BP! Enjoy a metal roof, nice hardwood floors, 1st floor laundry, main level bedroom & bathroom, upstairs is a nice landing area that could be used as another bedroom, office or extra hang out space. Aluminum siding, two single stall garages with alley access, updated breaker panel, 1/4 of an acre yard. See it for yourself!

20. 2025-10-15
    listed $99,900 Active 356-char remark

    Show marketing remark (356 chars)

    Very affordable living in BP! Enjoy a metal roof, nice hardwood floors, 1st floor laundry, main level bedroom & bathroom, upstairs is a nice landing area that could be used as another bedroom, office or extra hang out space. Aluminum siding, two single stall garages with alley access, updated breaker panel, 1/4 of an acre yard. See it for yourself!

21. 2018-01-12
    listed $39,000
22. 2017-02-27
    listed $45,000
23. 2017-02-22
    listed $45,000
24. 2009-06-03
    soldstatus $37,000
25. 1982-08-03
    soldstatus $30,000

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $1,090 · $91/mo
• Expected delta: +$306/yr (+$25/mo · 39.0%)

ⓘ 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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,200
• − Mortgage interest: −$4,980
• − Property taxes: −$784
• − Insurance: −$444
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$2,586
• Taxable loss: −$226
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $1,289/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: Belle Plaine Community School District
• NCES district ID: 1904620
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $42,054
• Composite: 59.42/100
• National rank: #927
• State rank: #144 of 289 in IA

Livability — Belle Plaine

• Score: 75/100
• State rank: #215
• US rank: #3962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belle Plaine, IA
• Population (ZIP): 2,921

Population outlook (Benton County) Hauer SSP2

• Today (2025): 25,078 people
• By 2030: 24,606 · -1.9%
• By 2040: 23,425 · -6.6%
• By 2050: 21,891 · -12.7%
• By 2075: 19,482 · -22.3%
• By 2100: 17,139 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.3%
• 2008→2024 swing: -37.7pp toward R · 2008: 4.5pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+27.5 2016: R+26.0 2012: R+0.6 2008: D+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.07%
• Current HPI: 237.1468
• 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

+196.3% since first listed

8 events — show timeline

• 2026-03-30 Price Changed $88,900 CRAAR, CDRMLS
• 2025-11-28 Price Changed $89,900 CRAAR, CDRMLS
• 2025-10-15 Listed $99,900 CRAAR, CDRMLS
• 2018-01-12 Listed $39,000 CRAAR, CDRMLS
• 2017-02-27 Listed $45,000 CRAAR, CDRMLS
• 2017-02-22 Listed $45,000 IAR
• 2009-06-03 Sold (Public Records) $37,000 Public Records
• 1982-08-03 Sold (Public Records) $30,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $784 · +6.5% YoY. Source: county tax records.