702 2nd St · Redfield, IA 50233

$62,000

3 bd · 1.0 ba · 1,108 sqft · Other public records · 91 Days on market

Built 1900 0.43 ac lot $56/sqft · 51% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Appreciation +5.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investor special! This property has lots of potential! The home has been gutted and needs a full remodel. New HVAC, new windows and new framing. The garage is HUGE and could be used for storage, mechanical repair shop, or any other hobby you may have. There is also a one-of-a-kind concrete bunker built into the hill on the . 43 acre lot. House is being sold "AS IS" and cash only buyers.

Key facts

• New framing
• New hvac
• Huge garage

Tags

• NEW HVAC
• NEW WINDOWS
• NEW FRAMING
• CONCRETE BUNKER
• HUGE GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $62k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $56k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#414 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• West Central Valley Community School District (rural): math 68% / reading 75% proficiency, ranked #115 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 1,503 units permitted in Dallas County in 2024 (630 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($429 loan paydown + $784 appreciation (1.3% local appreciation)).
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $50k; 24% 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 $56,420 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.63% ✓
• Cap rate: 13.59%
• Cash-on-cash: 26.05%
• DSCR: 2.16
• GRM: 5.1

CMA / ARV

• ARV (median comp): $127,684
• List price: $62,000
• Delta: -51.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.50×
• Total profit: $25,983
• Equity at exit: $22,025

10-year hold

• IRR: 31.1%
• Equity multiple: 4.82×
• Total profit: $66,230
• Equity at exit: $29,946

Cash invested: $17,360 (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 50233

• Home prices YoY: 0.7%
• Active inventory: 8
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,012 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$72 /mo · $858/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $377

Break-even live

Break-even rent $535

Max offer price $62,000

Occupancy floor 58%

Sensitivity live

Price	-10% $412	-5% $394	+0% $377	+5% $359	+10% $342
Rent	-10% $297	-5% $337	+0% $377	+5% $417	+10% $457
Rate	-1.0pp $408	-0.5pp $393	base $377	+0.5pp $361	+1.0pp $344

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $62,000 Active 91 DOM
2. 2026-06-17
   days on market $62,000 Active 90 DOM
3. 2026-06-16
   days on market $62,000 Active 89 DOM
4. 2026-06-15
   days on market $62,000 Active 88 DOM
5. 2026-06-14
   days on market $62,000 Active 86 DOM
6. 2026-06-10
   days on market $62,000 Active 83 DOM
7. 2026-06-09
   days on market $62,000 Active 82 DOM
8. 2026-06-08
   days on market $62,000 Active 81 DOM
9. 2026-06-07
   days on market $62,000 Active 80 DOM
10. 2026-06-03
    days on market $62,000 Active 76 DOM
11. 2026-06-02
    days on market $62,000 Active 75 DOM
12. 2026-06-01
    days on market $62,000 Active 74 DOM
13. 2026-05-31
    days on market $62,000 Active 73 DOM
14. 2026-05-31
    days on market $62,000 Active 72 DOM
15. 2026-03-25
    status Active 399-char remark

    Show marketing remark (399 chars)

    Investor special! This property has lots of potential! The home has been gutted and needs a full remodel. New HVAC, new windows and new framing. The garage is HUGE and could be used for storage, mechanical repair shop, or any other hobby you may have. There is also a one-of-a-kind concrete bunker built into the hill on the . 43 acre lot. House is being sold "AS IS" and cash only buyers.

16. 2026-03-24
    status Pending 399-char remark

    Show marketing remark (399 chars)

    Investor special! This property has lots of potential! The home has been gutted and needs a full remodel. New HVAC, new windows and new framing. The garage is HUGE and could be used for storage, mechanical repair shop, or any other hobby you may have. There is also a one-of-a-kind concrete bunker built into the hill on the . 43 acre lot. House is being sold "AS IS" and cash only buyers.

17. 2026-03-18
    listed $62,000 Active 399-char remark

    Show marketing remark (399 chars)

    Investor special! This property has lots of potential! The home has been gutted and needs a full remodel. New HVAC, new windows and new framing. The garage is HUGE and could be used for storage, mechanical repair shop, or any other hobby you may have. There is also a one-of-a-kind concrete bunker built into the hill on the . 43 acre lot. House is being sold "AS IS" and cash only buyers.

18. 2026-03-17
    price $62,000
19. 2025-11-17
    historical
20. 2025-09-19
    price $69,000
21. 2025-09-19
    price $6,900
22. 2025-07-07
    price $79,000
23. 2025-03-27
    listed $85,000 Active
24. 2023-04-03
    soldstatus $50,000
25. 2023-03-31
    soldstatus $50,000 Closed
26. 2023-02-21
    status Pending
27. 2023-02-15
    listed $60,000 Active
28. 2006-01-17
    soldstatus $65,000
29. 2005-08-22
    soldstatus $22,000
30. 2005-06-20
    listed $29,900
31. 1988-03-16
    soldstatus $19,000

ⓘ 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: $858 · $72/mo
• Projected year-2 tax: $916 · $76/mo
• Expected delta: +$58/yr (+$5/mo · 6.7%)

ⓘ 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 ≥104°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: $12,142
• − Mortgage interest: −$3,473
• − Property taxes: −$858
• − Insurance: −$310
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$1,804
• Taxable income: $3,755
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $3,621/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: West Central Valley Community School District
• NCES district ID: 1927500
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 75% ▲ 4.00%
• Median HH income: $53,933
• Composite: 60.96/100
• National rank: #803
• State rank: #115 of 289 in IA

Livability — Redfield

• Score: 69/100
• State rank: #414
• US rank: #8866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redfield, IA
• Population (ZIP): 1,385

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 (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 6% Portuguese 3% Slovak 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · Spanish 4%

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: ▲ 1.27%
• Current HPI: 181.6624
• 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

+226.3% since first listed

17 events — show timeline

• 2026-03-25 Relisted — DMMLS
• 2026-03-24 Pending — DMMLS
• 2026-03-18 Listed $62,000 DMMLS
• 2026-03-17 Price Changed $62,000 DMMLS
• 2025-11-17 Listing Removed — DMMLS
• 2025-09-19 Price Changed $69,000 DMMLS
• 2025-09-19 Price Changed $6,900 DMMLS
• 2025-07-07 Price Changed $79,000 DMMLS
• 2025-03-27 Listed $85,000 DMMLS
• 2023-04-03 Sold (Public Records) $50,000 Public Records
• 2023-03-31 Sold (MLS) $50,000 DMMLS
• 2023-02-21 Pending — DMMLS
• 2023-02-15 Listed $60,000 DMMLS
• 2006-01-17 Sold (Public Records) $65,000 Public Records
• 2005-08-22 Sold (Public Records) $22,000 Public Records
• 2005-06-20 Listed $29,900 DMMLS
• 1988-03-16 Sold (Public Records) $19,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $858 · +4.9% YoY. Source: county tax records.