904 Diagonal Ave · Armstrong, IA 50514

$89,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 109 Days on market

Built 1950 9,750 sqft lot $68/sqft · 25% below area Est $119k · 25% under ↓ 2% since listing

---

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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.5/10.0
• Appreciation +7.3/10.0
• Schools +6.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice ranch home with a double attached garage. Complete main level living is offered with this home. Walk in from the attached garage into the bright kitchen that includes the appliances and a nice area for dining, the living room offers great natural light through the bay window. There are 3 bedrooms and a spacious full bath. The main level finishes with the laundry that includes the washer/dryer. Vinyl siding, electric heat. Offered at a great price, this is a great home for anyone.

Key facts

• Bright kitchen
• Main level living
• Natural light

Tags

• MAIN LEVEL LIVING
• BRIGHT KITCHEN
• NATURAL LIGHT
• VINYL SIDING
• ELECTRIC HEAT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#352 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• North Union Community School District (rural): math 68% / reading 83% proficiency, ranked #73 of 289 in IA (top 25%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 6 active listings in the ZIP; 11 units permitted in Emmet County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($615 loan paydown + $4k appreciation (4.6% local appreciation)).
• Emmet County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $9k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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 1950 — 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: 1.25% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• GRM: 6.7

CMA / ARV

• ARV (median comp): $118,633
• List price: $89,000
• Delta: -24.98%
• 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
907 A Ave	0.08mi	3/1.5	1,352 (+4%)	2mo	$165,000	$122	86
407 4th Ave	0.50mi	2/1.0 (-1)	1,224 (-6%)	2mo	$144,000	$118	60
800 A Ave	0.14mi	3/2.0	1,152 (-11%)	19mo	$83,000	$72	55

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

Projected returns pro-forma

4.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.34×
• Total profit: $33,341
• Equity at exit: $48,503

10-year hold

• IRR: 21.4%
• Equity multiple: 4.58×
• Total profit: $89,140
• Equity at exit: $82,155

Cash invested: $24,920 (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 50514

• Home prices YoY: 2.8%
• Active inventory: 6
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$142 /mo · $1,708/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $229

Break-even live

Break-even rent $818

Max offer price $89,000

Occupancy floor 74%

Sensitivity live

Price	-10% $280	-5% $255	+0% $229	+5% $204	+10% $179
Rent	-10% $142	-5% $186	+0% $229	+5% $273	+10% $317
Rate	-1.0pp $274	-0.5pp $252	base $229	+0.5pp $206	+1.0pp $183

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $89,000 Active 109 DOM
2. 2026-06-18
   days on market $89,000 Active 107 DOM
3. 2026-06-17
   days on market $89,000 Active 106 DOM
4. 2026-06-16
   days on market $89,000 Active 105 DOM
5. 2026-06-15
   days on market $89,000 Active 104 DOM
6. 2026-06-13
   days on market $89,000 Active 102 DOM
7. 2026-06-12
   days on market $89,000 Active 101 DOM
8. 2026-06-09
   days on market $89,000 Active 98 DOM
9. 2026-06-08
   days on market $89,000 Active 97 DOM
10. 2026-06-07
    days on market $89,000 Active 96 DOM
11. 2026-06-07
    days on market $89,000 Active 95 DOM
12. 2026-06-04
    days on market $89,000 Active 92 DOM
13. 2026-06-02
    days on market $89,000 Active 91 DOM
14. 2026-06-01
    days on market $89,000 Active 90 DOM
15. 2026-05-31
    days on market $89,000 Active 89 DOM
16. 2026-05-31
    days on market $89,000 Active 88 DOM
17. 2026-03-02
    listed $98,000 Active 489-char remark

    Show marketing remark (489 chars)

    Nice ranch home with a double attached garage. Complete main level living is offered with this home. Walk in from the attached garage into the bright kitchen that includes the appliances and a nice area for dining, the living room offers great natural light through the bay window. There are 3 bedrooms and a spacious full bath. The main level finishes with the laundry that includes the washer/dryer. Vinyl siding, electric heat. Offered at a great price, this is a great home for anyone.

18. 2025-04-30
    price $99,900
19. 2025-03-04
    price $105,000
20. 2025-01-22
    listed $110,000 Active
21. 2022-09-01
    soldstatus $95,000
22. 2022-04-08
    listed $100,000

ⓘ 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: $1,708 · $142/mo
• Projected year-2 tax: $1,708 · $142/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,299
• − Mortgage interest: −$4,985
• − Property taxes: −$1,708
• − Insurance: −$445
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$2,589
• Taxable income: $1,443
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $2,406/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 Union Community School District
• NCES district ID: 1903850
• Math proficiency: 68% ▲ 8.00%
• Reading proficiency: 83% ▲ 8.00%
• Median HH income: $49,521
• Composite: 63.83/100
• National rank: #592
• State rank: #73 of 289 in IA

Livability — Armstrong

• Score: 71/100
• State rank: #352
• US rank: #7186

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: Armstrong, IA
• Population (ZIP): 1,190

Population outlook (Emmet County) Hauer SSP2

• Today (2025): 9,084 people
• By 2030: 8,626 · -5.0%
• By 2040: 7,751 · -14.7%
• By 2050: 6,991 · -23.0%
• By 2075: 5,854 · -35.6%
• By 2100: 5,563 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Portuguese 12% Slovak 2% Iranian 1%
• Foreign-born: 1%

Political lean MEDSL · Emmet

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5% · Other 1.0%
• 2008→2024 swing: -48.0pp toward R · 2008: 3.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+36.0 2016: R+37.5 2012: R+8.9 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.64%
• Current HPI: 170.7437
• 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

-2.0% since first listed

6 events — show timeline

• 2026-03-02 Listed $98,000 IAR
• 2025-04-30 Price Changed $99,900 IAR
• 2025-03-04 Price Changed $105,000 IAR
• 2025-01-22 Listed $110,000 IAR
• 2022-09-01 Sold (MLS) $95,000 Iowa Great Lakes BOR
• 2022-04-08 Listed $100,000 Iowa Great Lakes BOR

Property tax history

+27.7%/yr

Latest (2025): $1,708 · -0.7% YoY. Source: county tax records.