303 5th Ave. Ave NE · Belmond, IA 50421

$90,000

5 bd · 2.0 ba · 2,080 sqft · SingleFamily public records · 187 Days on market

Built 1895 10,560 sqft lot Est $154k · 42% under ↓ 18% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Five bedroom, 2 bath, two story home with updated floor coverings and kitchen cabinets/countertop. Most windows have been updated with vinyl replacements. There are some handy man projects to complete on this property, priced accordingly.

Key facts

• 0.24 acre lot
• Garage
• Built 1895

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#96 in IA, #1,995 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Belmond-Klemme Community School District (rural): math 60% / reading 67% proficiency, ranked #212 of 289 in IA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 23 units permitted in Wright County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wright County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 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 1895 — 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: 1.45% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.96%
• DSCR: 1.71
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $153,920
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 5th Ave. Ave NE	0.00mi	5/2.0	2,080 (0%)	2mo	$88,000	$42	99
408 3rd Ave SE	0.39mi	6/2.0 (+1)	2,063 (-1%)	14mo	$90,000	$44	64
1103 3rd St NE	0.39mi	5/3.0	1,968 (-5%)	16mo	$185,000	$94	56
807 8th Ave NE	0.39mi	4/2.5 (-1)	2,370 (+14%)	3mo	$175,000	$74	50

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $6,822
• Equity at exit: $13,419

10-year hold

• IRR: 16.3%
• Equity multiple: 2.34×
• Total profit: $33,683
• Equity at exit: $7,782

Cash invested: $25,200 (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 50421

• Home prices YoY: -27.0%
• Active inventory: 20
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,303 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$185 /mo · $2,220/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $335

Break-even live

Break-even rent $879

Max offer price $90,000

Occupancy floor 69%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-23
   status Pending
2. 2026-03-25
   historical Active Under Contract
3. 2026-02-03
   status Active
4. 2025-10-23
   status Pending
5. 2025-08-13
   price $90,000
6. 2025-07-07
   listed $110,000 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: $2,220 · $185/mo
• Projected year-2 tax: $2,220 · $185/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 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: $15,639
• − Mortgage interest: −$5,041
• − Property taxes: −$2,220
• − Insurance: −$450
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$2,618
• Taxable income: $2,807
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $3,347/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: Belmond-Klemme Community School District
• NCES district ID: 1904680
• Math proficiency: 60% ▼ -2.00%
• Reading proficiency: 67% ▲ 7.00%
• Median HH income: $46,566
• Composite: 53.63/100
• National rank: #1435
• State rank: #212 of 289 in IA

Livability — Belmond

• Score: 79/100
• State rank: #96
• US rank: #1995

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belmond, IA
• City population: 3,142
• Population (ZIP): 3,142

Population outlook (Wright County) Hauer SSP2

• Today (2025): 12,154 people
• By 2030: 11,770 · -3.2%
• By 2040: 10,981 · -9.7%
• By 2050: 10,313 · -15.1%
• By 2075: 9,217 · -24.2%
• By 2100: 8,084 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 14% Two or more races 12%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 14% Iranian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Wright

• 2024 margin: Solid R (+36.5) · D 31.0% · R 67.5% · Other 1.4%
• 2008→2024 swing: -35.0pp toward R · 2008: -1.5pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+34.2 2016: R+31.9 2012: R+8.3 2008: R+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.41%
• Current HPI: 109.3779
• 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

-18.2% since first listed

6 events — show timeline

• 2026-04-23 Pending — IAR
• 2026-03-25 Contingent — IAR
• 2026-02-03 Relisted — IAR
• 2025-10-23 Pending — IAR
• 2025-08-13 Price Changed $90,000 IAR
• 2025-07-07 Listed $110,000 IAR

Property tax history

+6.1%/yr

Latest (2025): $2,220 · +6.9% YoY. Source: county tax records.