323 N 3rd St · Seymour, IA 52590

$42,500

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 51 Days on market

Built 1900 10,019 sqft lot ↓ 55% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity to own this nice size 4 bedroom home in a quaint small town. Newer LVP flooring through out. Beautiful wood work. Full unfinished basement. Located near to the school. Small garage.

Key facts

• Small garage
• First floor laundry
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• FIRST FLOOR LAUNDRY
• DRIVEWAY PARKING
• SMALL GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#374 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D.
• Seymour Community School District (rural): math 55% / reading 45% proficiency, ranked #326 of 330 in IA (top 99%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 6 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($294 loan paydown + $2k appreciation (5.7% local appreciation)).
• Wayne County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask is 38% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $29k; 48% 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 $41,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1900 — 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. 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: 2.50% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.61%
• DSCR: 3.30
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $215,430
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 E Lee St	0.17mi	3/1.0	1,360 (+5%)	3mo	$32,500	$24	80
622 W Main St	0.32mi	3/2.0	1,250 (-3%)	19mo	$209,000	$167	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.9%
• Equity multiple: 4.71×
• Total profit: $44,170
• Equity at exit: $25,938

10-year hold

• IRR: 57.1%
• Equity multiple: 9.80×
• Total profit: $104,681
• Equity at exit: $46,379

Cash invested: $11,900 (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 52590

• Home prices YoY: 3.4%
• Active inventory: 2
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,062 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$87 /mo · $1,042/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $512

Break-even live

Break-even rent $414

Max offer price $42,500

Occupancy floor 47%

Sensitivity live

Price	-10% $536	-5% $524	+0% $512	+5% $500	+10% $488
Rent	-10% $428	-5% $470	+0% $512	+5% $554	+10% $596
Rate	-1.0pp $533	-0.5pp $523	base $512	+0.5pp $501	+1.0pp $490

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-03-17
   soldstatus $28,800 Closed 199-char remark

   Show marketing remark (199 chars)

   Great opportunity to own this nice size 4 bedroom home in a quaint small town. Newer LVP flooring through out. Beautiful wood work. Full unfinished basement. Located near to the school. Small garage.

2. 2026-01-20
   status Pending 199-char remark

   Show marketing remark (199 chars)

   Great opportunity to own this nice size 4 bedroom home in a quaint small town. Newer LVP flooring through out. Beautiful wood work. Full unfinished basement. Located near to the school. Small garage.

3. 2026-01-06
   historical
4. 2026-01-05
   listed $30,750 Active 199-char remark

   Show marketing remark (199 chars)

   Great opportunity to own this nice size 4 bedroom home in a quaint small town. Newer LVP flooring through out. Beautiful wood work. Full unfinished basement. Located near to the school. Small garage.

5. 2025-11-25
   price $36,125
6. 2025-11-21
   status Active
7. 2025-10-17
   status Pending
8. 2025-10-17
   status Pending
9. 2025-09-25
   price $42,500
10. 2025-09-25
    price $42,500
11. 2025-08-27
    listed $50,000 Active
12. 2025-08-27
    listed $50,000 Active
13. 2022-09-12
    soldstatus $59,000
14. 2022-09-09
    soldstatus $59,000
15. 2022-04-04
    listed $64,000

ⓘ 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: $1,042 · $87/mo
• Projected year-2 tax: $1,042 · $87/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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,747
• − Mortgage interest: −$2,381
• − Property taxes: −$1,042
• − Insurance: −$212
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$1,236
• Taxable income: $5,836
• Est. tax owed @ 24.0%: −$1,401
• After-tax cash flow: $4,741/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: Seymour Community School District
• NCES district ID: 1925620
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 45% ▼ -20.00%
• Median HH income: $40,840
• Composite: 43.95/100
• National rank: #6276
• State rank: #326 of 330 in IA

Livability — Seymour

• Score: 70/100
• State rank: #374
• US rank: #7871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seymour, IA
• Population (ZIP): 1,433

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 6,213 people
• By 2030: 6,109 · -1.7%
• By 2040: 5,926 · -4.6%
• By 2050: 5,716 · -8.0%
• By 2075: 5,502 · -11.4%
• By 2100: 4,890 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Iranian 21% Lithuanian 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 65% English-only · German/W. Germanic 34% French/Haitian/Cajun 0%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+57.2) · D 20.6% · R 77.8% · Other 1.6%
• 2008→2024 swing: -50.2pp toward R · 2008: -7.0pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+51.8 2016: R+46.2 2012: R+11.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.71%
• Current HPI: 172.3926
• 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

-55.0% since first listed

15 events — show timeline

• 2026-03-17 Sold (MLS) $28,800 DMMLS
• 2026-01-20 Pending — DMMLS
• 2026-01-06 Listing Removed — DMMLS
• 2026-01-05 Listed $30,750 DMMLS
• 2025-11-25 Price Changed $36,125 DMMLS
• 2025-11-21 Relisted — DMMLS
• 2025-10-17 Pending — IAR
• 2025-10-17 Pending — DMMLS
• 2025-09-25 Price Changed $42,500 IAR
• 2025-09-25 Price Changed $42,500 DMMLS
• 2025-08-27 Listed $50,000 IAR
• 2025-08-27 Listed $50,000 DMMLS
• 2022-09-12 Sold (Public Records) $59,000 Public Records
• 2022-09-09 Sold (MLS) $59,000 IAR
• 2022-04-04 Listed $64,000 IAR

Property tax history

+1.5%/yr

Latest (2025): $1,042 · +3.6% YoY. Source: county tax records.