613 3rd Ave SW · Britt, IA 50423

$100,000

4 bd · 2.0 ba · 1,798 sqft · SingleFamily public records · 52 Days on market

Built 1920 8,712 sqft lot $56/sqft · 39% below area Est $126k · 21% under ↓ 13% since listing

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Why this score? — see what drove the A+ 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
• Appreciation +10.0/10.0
• 1% rule +9.8/10.0
• Schools +6.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Handyman Special. .. this spacious home needs some TLC. Located on a corner lot this 3 bedroom/2bath home has a ton of potential. Open style floor plan; kitchen, dining room & living room are wide open. Two bedrooms on the main and upstairs has a sizable loft that opens into the 3rd bedroom. Addition of a recreation/ flex room (no heat) is located off of the kitchen and garage. There is cold storage on the back side of the garage. Oversized attached garage (26 x 30-), spacious yard and space for a deck to be added off of the dining room patio doors. Basement has a 200amp breaker box, sump pump & beaver system, egress window and 3/4 bath that will need to be redone. Property is b

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Attached garage with storage; Concrete driveway; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: One and one-half story single-family home; Residential property
• Construction: Metal siding; Vinyl siding
• Exterior features: Lot approximately 0.2 acres (66 x 132)

Interior

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

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#121 in IA, #2,262 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Hancock Community School District (rural): math 76% / reading 74% proficiency, ranked #77 of 289 in IA (top 27%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 22 active listings in the ZIP; 11 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Hancock County population projected at -14% 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.51%
• DSCR: 2.05
• GRM: 5.6

CMA / ARV

• ARV (median comp): $126,087
• List price: $100,000
• Delta: -20.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 4th St SW	0.24mi	3/1.5 (-1)	1,688 (-6%)	23mo	$158,000	$94	52
112 1st St SE	0.41mi	3/2.0 (-1)	2,052 (+14%)	9mo	$160,000	$78	45

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: 41.9%
• Equity multiple: 4.19×
• Total profit: $89,380
• Equity at exit: $90,088

10-year hold

• IRR: 36.2%
• Equity multiple: 9.42×
• Total profit: $235,689
• Equity at exit: $194,278

Cash invested: $28,000 (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 50423

• Home prices YoY: 8.2%
• Active inventory: 22
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,477 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$52 /mo · $624/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $549

Break-even live

Break-even rent $782

Max offer price $100,000

Occupancy floor 58%

Sensitivity live

Price	-10% $605	-5% $577	+0% $549	+5% $520	+10% $492
Rent	-10% $432	-5% $490	+0% $549	+5% $607	+10% $665
Rate	-1.0pp $599	-0.5pp $574	base $549	+0.5pp $523	+1.0pp $496

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $100,000 Active 52 DOM
2. 2026-06-18
   days on market $100,000 Active 50 DOM
3. 2026-06-17
   days on market $100,000 Active 49 DOM
4. 2026-06-16
   days on market $100,000 Active 48 DOM
5. 2026-06-15
   days on market $100,000 Active 47 DOM
6. 2026-06-13
   days on market $100,000 Active 45 DOM
7. 2026-06-12
   days on market $100,000 Active 44 DOM
8. 2026-06-09
   days on market $100,000 Active 41 DOM
9. 2026-06-08
   days on market $100,000 Active 40 DOM
10. 2026-06-07
    days on market $100,000 Active 39 DOM
11. 2026-06-07
    pricedays on market $100,000 Active 38 DOM
12. 2026-06-04
    days on market $115,000 Active 35 DOM
13. 2026-06-02
    days on market $115,000 Active 34 DOM
14. 2026-06-01
    days on market $115,000 Active 33 DOM
15. 2026-05-31
    days on market $115,000 Active 32 DOM
16. 2026-05-31
    days on market $115,000 Active 31 DOM
17. 2026-04-28
    listed $115,000 Active 740-char remark

ⓘ 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: $624 · $52/mo
• Projected year-2 tax: $1,097 · $91/mo
• Expected delta: +$473/yr (+$39/mo · 75.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $17,722
• − Mortgage interest: −$5,602
• − Property taxes: −$624
• − Insurance: −$500
• − Repairs & maintenance: −$1,418
• − Management: −$1,418
• − Depreciation: −$2,909
• Taxable income: $5,251
• Est. tax owed @ 24.0%: −$1,260
• After-tax cash flow: $5,323/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 Hancock Community School District
• NCES district ID: 1905430
• Math proficiency: 76% ▼ -5.00%
• Reading proficiency: 74% ▼ -1.00%
• Median HH income: $46,779
• Composite: 63.22/100
• National rank: #634
• State rank: #77 of 289 in IA

Livability — Britt

• Score: 79/100
• State rank: #121
• US rank: #2262

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: Britt, IA
• Population (ZIP): 2,401

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 10,462 people
• By 2030: 10,154 · -2.9%
• By 2040: 9,552 · -8.7%
• By 2050: 9,034 · -13.6%
• By 2075: 8,233 · -21.3%
• By 2100: 7,050 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 11% Iranian 6% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.6pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.9 2016: R+41.1 2012: R+13.6 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.61%
• Current HPI: 245.6369
• 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

-13.0% since first listed

2 events — show timeline

• 2026-06-04 Price Changed $100,000 IAR
• 2026-04-28 Listed $115,000 IAR

Property tax history

-3.2%/yr

Latest (2025): $624 · -8.5% YoY. Source: county tax records.