615 Woodlawn St · Traer, IA 50675

$75,000

2 bd · 1.5 ba · 1,060 sqft · SingleFamily public records · 10 Days on market

Built 1900 7,405 sqft lot Est $136k · 45% 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home would be a great starter home or addition to your rental portfolio. Many updates throughout! Taking a step inside you are greeted by the back porch. Perfect dropping zone before entering the kitchen. The kitchen has an ample amount of cabinetry and an island opening into the dining room. Off the dining room is the living room. The main floor finishes with two bedrooms, bathroom, and enclosed front porch. The laundry hook ups are located on the main floor. There is a full basement. Outside amenities include an oversized two stall detached garage. Schedule your showing today!

Key facts

• Metal roof
• Fire pit
• Updated furnace

Tags

• EAT-IN RUSTIC STYLE KITCHEN
• METAL ROOF
• FIRE PIT
• UPDATED FURNACE
• CENTRAL AIR

Property features AI

Exterior

• Parking: Detached gravel garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence
• Construction: Metal siding
• Exterior features: Lot approx. 0.17 acres (70 x 107)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $75k).

Location & tenants

• Location reads 76/100 on livability (#185 in IA, #3,274 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Tama County Community School District (rural): math 56% / reading 66% proficiency, ranked #234 of 289 in IA (top 81%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 35 active listings in the ZIP; 17 units permitted in Tama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tama 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 $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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.
• Current owner paid $54k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1900 — 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 A-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: 1.31% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.91%
• DSCR: 1.62
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $135,680
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Woodlawn Ave	0.04mi	3/1.0 (+1)	1,120 (+6%)	10mo	$150,000	$134	73
625 1st St	0.14mi	2/1.0	992 (-6%)	11mo	$126,900	$128	71
407 3rd St	0.42mi	3/2.0 (+1)	1,050 (-1%)	21mo	$167,000	$159	54
411 5th St	0.51mi	2/2.0	1,165 (+10%)	12mo	$126,900	$109	48
409 Taylor St	0.45mi	2/1.0	936 (-12%)	14mo	$95,000	$101	46
307 5th St	0.57mi	2/1.0	948 (-11%)	16mo	$117,500	$124	40

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $3,373
• Equity at exit: $11,183

10-year hold

• IRR: 13.7%
• Equity multiple: 2.09×
• Total profit: $22,991
• Equity at exit: $6,485

Cash invested: $21,000 (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 50675

• Home prices YoY: -9.9%
• Active inventory: 35
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $243

Break-even live

Break-even rent $672

Max offer price $75,000

Occupancy floor 70%

Sensitivity live

Price	-10% $286	-5% $265	+0% $243	+5% $222	+10% $201
Rent	-10% $166	-5% $205	+0% $243	+5% $282	+10% $321
Rate	-1.0pp $281	-0.5pp $262	base $243	+0.5pp $224	+1.0pp $204

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $75,000 Active 10 DOM
2. 2026-06-18
   days on market $75,000 Active 8 DOM
3. 2026-06-17
   days on market $75,000 Active 7 DOM
4. 2026-06-16
   days on market $75,000 Active 6 DOM
5. 2026-06-15
   days on market $75,000 Active 5 DOM
6. 2026-06-13
   days on market $75,000 Active 3 DOM
7. 2026-06-12
   remarks 433-char remark
8. 2026-06-12
   listed $75,000 Active 2 DOM

ⓘ 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: $1,272 · $106/mo
• Projected year-2 tax: $1,272 · $106/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $11,757
• − Mortgage interest: −$4,201
• − Property taxes: −$1,272
• − Insurance: −$375
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$2,182
• Taxable income: $1,846
• Est. tax owed @ 24.0%: −$443
• After-tax cash flow: $2,478/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: North Tama County Community School District
• NCES district ID: 1921000
• Math proficiency: 56% ▼ -14.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $52,332
• Composite: 52.09/100
• National rank: #1627
• State rank: #234 of 289 in IA

Livability — Traer

• Score: 76/100
• State rank: #185
• US rank: #3274

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Traer, IA
• Population (ZIP): 2,323

Population outlook (Tama County) Hauer SSP2

• Today (2025): 16,690 people
• By 2030: 16,217 · -2.8%
• By 2040: 15,207 · -8.9%
• By 2050: 14,186 · -15.0%
• By 2075: 12,228 · -26.7%
• By 2100: 10,386 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 11% Hispanic / Latino 10% Native American 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Tama

• 2024 margin: Strong R (+26.9) · D 35.7% · R 62.6% · Other 1.7%
• 2008→2024 swing: -39.1pp toward R · 2008: 12.2pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+19.1 2016: R+20.6 2012: D+7.4 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.31%
• Current HPI: 166.7181
• 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

+15.4% since first listed

13 events — show timeline

• 2026-06-11 Listed $75,000 IAR
• 2023-09-20 Sold (Public Records) $54,000 Public Records
• 2023-09-20 Sold (MLS) $54,000 IAR
• 2023-09-20 Sold (MLS) $54,000 NEIRBR as distributed by MLS GRID
• 2023-08-26 Pending — IAR
• 2023-08-25 Delisted — IAR
• 2023-08-11 Pending — IAR
• 2023-08-11 Pending — NEIRBR as distributed by MLS GRID
• 2023-08-10 Relisted — NEIRBR as distributed by MLS GRID
• 2023-08-10 Delisted — IAR
• 2023-08-10 Delisted — NEIRBR as distributed by MLS GRID
• 2023-08-07 Listed $65,000 IAR
• 2023-08-07 Listed $65,000 NEIRBR as distributed by MLS GRID

Property tax history

+3.5%/yr

Latest (2025): $1,272 · +27.2% YoY. Source: county tax records.