213 7th St St · Gladbrook, IA 50635

$132,000

3 bd · 1.0 ba · 1,285 sqft · SingleFamily public records · 2 Days on market

Built 1956 2.07 ac lot Est $117k · 13% over

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Why this score? — see what drove the D- 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 +12.5/30.0
• Schools +6.4/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks

MUST SEE to appreciate this completely remodeled 1285 sq ft Cape Cod style home with small town living in Gladbrook. From the new concrete drive, new entry stoops with new entry doors, all new vinyl windows with newly painted aluminium siding. Main level has all new flooring and freshly painted. Kitchen is all new with a new countertop, new kitchen cabinets, and all new appliances (refrigerator, stove, microwave, dishwasher and garbage disposal), 2 bedrooms with new carpet, full bathroom and living room. Upper level is 1 large bedroom with wood flooring and fresh paint. Lower level has freshly painted walls with flake epoxy floors and a large room for multiple uses like family room or rec r

Key facts

• New entry stoops
• Completely remodeled
• New flooring

Tags

• COMPLETELY REMODELED
• NEW CONCRETE DRIVE
• NEW ENTRY STOOPS
• NEW ENTRY DOORS
• NEW VINYL WINDOWS
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $-20 ($-243/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (19.5% below list).
• Recommended offer: $106k (19.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#599 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, amenities F.
• Gladbrook-Reinbeck Community School District (rural): math 76% / reading 74% proficiency, ranked #71 of 289 in IA (top 25%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 16 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 $913 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,201 (19.5% below list)

Questions for the listing agent

1. 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?
2. Built in 1956 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 0.80% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.66%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $116,935
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 7th St St	0.00mi	3/2.0	1,285 (0%)	3mo	$135,000	$105	93
210 7th St	0.03mi	3/1.5	1,365 (+6%)	7mo	$152,500	$112	80
113 Johnston St	0.30mi	3/1.0	1,300 (+1%)	5mo	$25,000	$19	80
511 Lincoln St	0.10mi	2/1.0 (-1)	1,202 (-6%)	3mo	$75,000	$62	77
207 1st St	0.43mi	4/1.5 (+1)	1,352 (+5%)	7mo	$58,200	$43	58
115 W 2nd St	0.41mi	3/2.0	1,440 (+12%)	9mo	$128,000	$89	49
110 1st St	0.41mi	3/2.0	1,184 (-8%)	19mo	$154,000	$130	48
516 Garfield St	0.13mi	2/2.0 (-1)	1,120 (-13%)	21mo	$165,000	$147	46
701 5th St	0.41mi	3/1.5	1,474 (+15%)	23mo	$134,000	$91	35

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-22,695
• Equity at exit: $19,682

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-21,489
• Equity at exit: $11,413

Cash invested: $36,960 (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 50635

• Home prices YoY: -18.1%
• Active inventory: 16
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,062 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$112 /mo · $1,344/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-20

Break-even live

Break-even rent $1,088

Max offer price $128,425

Occupancy floor 97%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-19
   soldstatus $135,000
2. 2026-02-04
   status Pending
3. 2026-02-02
   listed $132,000 Active
4. 2024-12-04
   soldstatus $30,500
5. 2010-09-16
   soldstatus $54,500

ⓘ 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: $1,344 · $112/mo
• Projected year-2 tax: $1,708 · $142/mo
• Expected delta: +$364/yr (+$30/mo · 27.1%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,744
• − Mortgage interest: −$7,394
• − Property taxes: −$1,344
• − Insurance: −$660
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$3,840
• Taxable loss: −$2,533
• Est. tax savings @ 24.0%: +$608
• After-tax cash flow: $365/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: Gladbrook-Reinbeck Community School District
• NCES district ID: 1912660
• Math proficiency: 76% ▼ -3.00%
• Reading proficiency: 74% ▲ 9.00%
• Median HH income: $55,866
• Composite: 64.09/100
• National rank: #576
• State rank: #71 of 289 in IA

Livability — Gladbrook

• Score: 64/100
• State rank: #599
• US rank: #13664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladbrook, IA
• Population (ZIP): 1,470

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 (96%)
• Race & ethnicity: White 96% Black 2% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Portuguese 2% Hungarian 1%
• Foreign-born: 1%

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: ▼ -35.47%
• Current HPI: 160.84
• 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

+147.7% since first listed

5 events — show timeline

• 2026-03-19 Sold (Public Records) $135,000 Public Records
• 2026-02-04 Pending — IAR
• 2026-02-02 Listed $132,000 IAR
• 2024-12-04 Sold (Public Records) $30,500 Public Records
• 2010-09-16 Sold (Public Records) $54,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,344 · +21.5% YoY. Source: county tax records.