614 1st St · Traer, IA 50675

$134,900

5 bd · 1.0 ba · 1,860 sqft · SingleFamily public records · 114 Days on market

Built 1900 0.29 ac lot $73/sqft · 24% below area Est $177k · 24% under ↓ 4% since listing

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Why this score? — see what drove the C+ 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Schools +5.2/10.0
• 1% rule +4.9/10.0
• 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

Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

Key facts

• 0.29 acre lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (1.2% below list).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

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 $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $122,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 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 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?
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: 0.99% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (median comp): $177,030
• List price: $134,900
• Delta: -23.80%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 North St	0.06mi	4/1.5 (-1)	2,000 (+8%)	22mo	$175,000	$88	59
903 Walnut St	0.64mi	4/2.0 (-1)	1,832 (-2%)	3mo	$180,000	$98	56
212 Vista St	0.48mi	4/2.5 (-1)	1,920 (+3%)	10mo	$175,000	$91	53

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-10,562
• Equity at exit: $20,114

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $5,308
• Equity at exit: $11,664

Cash invested: $37,772 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,332 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$111 /mo · $1,336/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $178

Break-even live

Break-even rent $1,108

Max offer price $134,900

Occupancy floor 82%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $134,900 Active 114 DOM
2. 2026-06-17
   days on market $134,900 Active 113 DOM
3. 2026-06-16
   days on market $134,900 Active 112 DOM
4. 2026-06-15
   days on market $134,900 Active 111 DOM
5. 2026-06-13
   days on market $134,900 Active 109 DOM
6. 2026-06-12
   days on market $134,900 Active 108 DOM
7. 2026-06-09
   days on market $134,900 Active 105 DOM
8. 2026-06-08
   days on market $134,900 Active 104 DOM
9. 2026-06-07
   days on market $134,900 Active 103 DOM
10. 2026-06-07
    days on market $134,900 Active 102 DOM
11. 2026-06-04
    days on market $134,900 Active 99 DOM
12. 2026-06-02
    days on market $134,900 Active 98 DOM
13. 2026-06-01
    days on market $134,900 Active 97 DOM
14. 2026-05-31
    days on market $134,900 Active 96 DOM
15. 2026-05-31
    days on market $134,900 Active 95 DOM
16. 2026-05-18
    status Active 926-char remark

    Show marketing remark (926 chars)

    Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

17. 2026-04-28
    historical Active Under Contract 926-char remark

    Show marketing remark (926 chars)

    Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

18. 2026-03-24
    price $134,900 926-char remark

    Show marketing remark (926 chars)

    Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

19. 2026-03-24
    price $134,900 926-char remark

    Show marketing remark (926 chars)

    Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

20. 2026-02-24
    listed $139,900 Active 926-char remark

    Show marketing remark (926 chars)

    Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

21. 2026-02-24
    listed $139,900 Active 926-char remark

    Show marketing remark (926 chars)

    Move-in ready! This amazing 1,860 sqft 5 bedroom, 1 bath, 2 story home in Traer features many updates throughout! From the minute you walk in, you will feel right at home! Stepping inside to the front entry making it the perfect dropping zone, heading to the foyer area where you can head upstairs or continue to the living room or dining room. The living room features ample natural light, fireplace, and built in shelving. The dining room is off the kitchen making it very convenient. The kitchen has ample amount of newer cabinetry and counter space. Off the kitchen is the laundry room with access to the back deck. off the laundry room is the full bathroom. Finishing off the main floor is a large bedroom with private access to the bathroom. Heading upstairs there are four spacious bedrooms. There is a partial basement. Outside amenities include a 1 stall garage, large backyard, and deck. Schedule your showing today!

ⓘ 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: $1,336 · $111/mo
• Projected year-2 tax: $1,727 · $144/mo
• Expected delta: +$391/yr (+$33/mo · 29.3%)

ⓘ 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: $15,989
• − Mortgage interest: −$7,556
• − Property taxes: −$1,336
• − Insurance: −$674
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$3,924
• Taxable loss: −$61
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $2,146/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

-3.6% since first listed

6 events — show timeline

• 2026-05-18 Relisted — IAR
• 2026-04-28 Contingent — IAR
• 2026-03-24 Price Changed $134,900 IAR
• 2026-03-24 Price Changed $134,900 NEIRBR as distributed by MLS GRID
• 2026-02-24 Listed $139,900 NEIRBR as distributed by MLS GRID
• 2026-02-24 Listed $139,900 IAR

Property tax history

-0.1%/yr

Latest (2025): $1,336 · +5.2% YoY. Source: county tax records.