302 Coneflower Ct

Monroe, IA 50170

$279,000D

2 bd · 2.0 ba · 1,338 sqft · Built 2015 · SingleFamily · Active · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,103/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$440
• HOA: −$100
• Vac / Maint / Mgmt: −$232
• Net cashflow: $-1,132/mo
• Annual: $-13,585/yr
• Cap rate: 1.42%
• Cash-on-cash: -17.39%
• DSCR: 0.23
• 1% rule: 0.40%
• Cash to close: $78,120

Investor read

• This is a 2-bed/2.0-bath single-family listed at $279k.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $79k (71.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (60.5% below list).
• It's been on market 118 days — a 9% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (71.7% below list) — sets the bar for cash-flow.
• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (9.3% local appreciation)).
• Location reads 79/100 on livability (#118 in IA, #2,215 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Pcm Community School District (rural): math 65% / reading 75% proficiency, ranked #124 of 289 in IA (top 43%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Prairie City Elementary School (math 72% / reading 77%, grade A, #131 of 616 statewide, top 27%, 320 students, 25% FRL); Pcm Middle School (math 65% / reading 72%, grade A, #126 of 246 statewide, top 53%, 247 students, 29% FRL); Pcm High School (math 64% / reading 83%, grade B+, #108 of 336 statewide, top 33%, 357 students, 21% FRL).
• Market conditions: 36 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 11y 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 $165k; list at $279k implies a 69% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 118 days. Have you received any prior offers? Is the seller open to a 72% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.