613 Washington St · Eldora, IA 50627

$80,000

4 bd · 1.5 ba · 2,160 sqft · SingleFamily public records · 120 Days on market

Built 1920 0.33 ac lot $37/sqft · 42% below area Est $138k · 42% under

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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
• 1% rule +9.7/10.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks MLS

Step into this charming 2-story home filled with original woodwork and character throughout. The exterior has seen a major upgrade with a brand new roof on both the home and porch, including new plywood, restructured support, and fresh shingles for peace of mind for years to come. Inside, you’ll appreciate the classic layout featuring a formal dining room, a cozy sitting room, and a large living room that offers plenty of space for everyday living and entertaining. Upstairs, you’ll find four comfortable bedrooms and a full bathroom, providing room for everyone. Outside, enjoy relaxing on the inviting wraparound porch that overlooks the spacious yard. A 2-stall garage adds great storage and parking convenience. This property blends timeless character with significant updates, ready for its next owner to make it home.

Key facts

• Spacious yard
• Formal dining room
• Large living room

Tags

• ORIGINAL WOODWORK
• NEW ROOF
• FORMAL DINING ROOM
• LARGE LIVING ROOM
• WRAPAROUND PORCH
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#336 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Eldora-New Providence Community School District (rural): math 60% / reading 66% proficiency, ranked #217 of 289 in IA (top 75%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 6 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hardin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; list at $80k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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 1920 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.47% ✓
• Cap rate: 12.56%
• Cash-on-cash: 22.37%
• DSCR: 2.00
• GRM: 5.7

CMA / ARV

• ARV (median comp): $138,170
• List price: $80,000
• Delta: -42.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1006 11th Ave	0.30mi	3/1.5 (-1)	2,144 (-1%)	1mo	$135,000	$63	79
1009 11th St	0.28mi	3/1.5 (-1)	2,113 (-2%)	9mo	$114,900	$54	71
402 12th St	0.11mi	3/3.5 (-1)	2,242 (+4%)	14mo	$259,900	$116	64
1813 14th Ave	0.62mi	4/1.5	2,124 (-2%)	12mo	$65,000	$31	58
814 10th St	0.21mi	3/2.5 (-1)	2,370 (+10%)	12mo	$170,000	$72	55
1010 12th St	0.25mi	3/2.0 (-1)	1,921 (-11%)	11mo	$165,000	$86	53
1014 12th St	0.27mi	3/2.5 (-1)	1,941 (-10%)	12mo	$139,000	$72	52
1404 10th St	0.50mi	4/2.0	2,320 (+7%)	18mo	$176,000	$76	48
1606 11th St	0.62mi	3/1.0 (-1)	1,916 (-11%)	3mo	$81,000	$42	43
1401 17th Ave Ave	0.68mi	3/3.0 (-1)	1,986 (-8%)	3mo	$156,000	$79	41
1302 4th St	0.72mi	4/3.0	1,840 (-15%)	2mo	$160,000	$87	34
509 9th Ave	0.46mi	5/3.5 (+1)	1,904 (-12%)	20mo	$259,000	$136	29

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: 15.2%
• Equity multiple: 1.61×
• Total profit: $13,625
• Equity at exit: $11,928

10-year hold

• IRR: 23.8%
• Equity multiple: 3.06×
• Total profit: $46,080
• Equity at exit: $6,917

Cash invested: $22,400 (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 50627

• Home prices YoY: -3.7%
• Active inventory: 29
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,176 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$59 /mo · $706/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $418

Break-even live

Break-even rent $648

Max offer price $80,000

Occupancy floor 60%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $80,000 Active 120 DOM
2. 2026-06-17
   days on market $80,000 Active 119 DOM
3. 2026-06-16
   days on market $80,000 Active 118 DOM
4. 2026-06-15
   days on market $80,000 Active 117 DOM
5. 2026-06-13
   days on market $80,000 Active 115 DOM
6. 2026-06-12
   days on market $80,000 Active 114 DOM
7. 2026-06-09
   days on market $80,000 Active 111 DOM
8. 2026-06-08
   days on market $80,000 Active 110 DOM
9. 2026-06-07
   days on market $80,000 Active 109 DOM
10. 2026-06-07
    days on market $80,000 Active 108 DOM
11. 2026-06-04
    days on market $80,000 Active 105 DOM
12. 2026-06-02
    days on market $80,000 Active 104 DOM
13. 2026-06-01
    days on market $80,000 Active 103 DOM
14. 2026-05-31
    days on market $80,000 Active 102 DOM
15. 2026-05-31
    days on market $80,000 Active 101 DOM
16. 2026-04-28
    price $80,000 839-char remark

    Show marketing remark (839 chars)

    Step into this charming 2-story home filled with original woodwork and character throughout. The exterior has seen a major upgrade with a brand new roof on both the home and porch, including new plywood, restructured support, and fresh shingles for peace of mind for years to come. Inside, you’ll appreciate the classic layout featuring a formal dining room, a cozy sitting room, and a large living room that offers plenty of space for everyday living and entertaining. Upstairs, you’ll find four comfortable bedrooms and a full bathroom, providing room for everyone. Outside, enjoy relaxing on the inviting wraparound porch that overlooks the spacious yard. A 2-stall garage adds great storage and parking convenience. This property blends timeless character with significant updates, ready for its next owner to make it home.

17. 2026-04-28
    price $80,000 839-char remark

    Show marketing remark (839 chars)

    Step into this charming 2-story home filled with original woodwork and character throughout. The exterior has seen a major upgrade with a brand new roof on both the home and porch, including new plywood, restructured support, and fresh shingles for peace of mind for years to come. Inside, you’ll appreciate the classic layout featuring a formal dining room, a cozy sitting room, and a large living room that offers plenty of space for everyday living and entertaining. Upstairs, you’ll find four comfortable bedrooms and a full bathroom, providing room for everyone. Outside, enjoy relaxing on the inviting wraparound porch that overlooks the spacious yard. A 2-stall garage adds great storage and parking convenience. This property blends timeless character with significant updates, ready for its next owner to make it home.

18. 2026-02-18
    listed $99,900 Active 839-char remark

    Show marketing remark (839 chars)

    Step into this charming 2-story home filled with original woodwork and character throughout. The exterior has seen a major upgrade with a brand new roof on both the home and porch, including new plywood, restructured support, and fresh shingles for peace of mind for years to come. Inside, you’ll appreciate the classic layout featuring a formal dining room, a cozy sitting room, and a large living room that offers plenty of space for everyday living and entertaining. Upstairs, you’ll find four comfortable bedrooms and a full bathroom, providing room for everyone. Outside, enjoy relaxing on the inviting wraparound porch that overlooks the spacious yard. A 2-stall garage adds great storage and parking convenience. This property blends timeless character with significant updates, ready for its next owner to make it home.

19. 2026-02-18
    listed $99,900 Active 839-char remark

    Show marketing remark (839 chars)

    Step into this charming 2-story home filled with original woodwork and character throughout. The exterior has seen a major upgrade with a brand new roof on both the home and porch, including new plywood, restructured support, and fresh shingles for peace of mind for years to come. Inside, you’ll appreciate the classic layout featuring a formal dining room, a cozy sitting room, and a large living room that offers plenty of space for everyday living and entertaining. Upstairs, you’ll find four comfortable bedrooms and a full bathroom, providing room for everyone. Outside, enjoy relaxing on the inviting wraparound porch that overlooks the spacious yard. A 2-stall garage adds great storage and parking convenience. This property blends timeless character with significant updates, ready for its next owner to make it home.

20. 2025-07-14
    soldstatus $47,000
21. 2025-07-11
    soldstatus $47,000 Closed
22. 2025-07-11
    soldstatus $47,000 Closed
23. 2025-06-14
    status Pending
24. 2025-06-14
    status Pending
25. 2025-06-01
    price $54,900
26. 2025-06-01
    price $54,900
27. 2025-05-01
    listed $63,000 Active
28. 2025-05-01
    listed $63,000 Active

ⓘ 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: $706 · $59/mo
• Projected year-2 tax: $981 · $82/mo
• Expected delta: +$275/yr (+$23/mo · 39.0%)

ⓘ 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 4/10 Moderate
• 🌡 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: $14,116
• − Mortgage interest: −$4,481
• − Property taxes: −$706
• − Insurance: −$400
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$2,327
• Taxable income: $3,943
• Est. tax owed @ 24.0%: −$946
• After-tax cash flow: $4,065/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: Eldora-New Providence Community School District
• NCES district ID: 1910690
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,655
• Composite: 53.42/100
• National rank: #1470
• State rank: #217 of 289 in IA

Livability — Eldora

• Score: 71/100
• State rank: #336
• US rank: #6849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eldora, IA
• City population: 3,431
• Population (ZIP): 3,431

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 17,474 people
• By 2030: 17,369 · -0.6%
• By 2040: 17,018 · -2.6%
• By 2050: 16,454 · -5.8%
• By 2075: 14,665 · -16.1%
• By 2100: 12,404 · -29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Asian 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 4% Iranian 3% Slovak 3%
• Foreign-born: 3% · Vietnam
• Languages at home: 95% English-only · Vietnamese 1% Arabic 1% Spanish 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+38.4) · D 30.3% · R 68.7% · Other 1.1%
• 2008→2024 swing: -39.3pp toward R · 2008: 0.9pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+32.0 2016: R+29.2 2012: R+7.1 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.92%
• Current HPI: 155.9198
• 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

+27.0% since first listed

13 events — show timeline

• 2026-04-28 Price Changed $80,000 IAR
• 2026-04-28 Price Changed $80,000 NEIRBR as distributed by MLS GRID
• 2026-02-18 Listed $99,900 NEIRBR as distributed by MLS GRID
• 2026-02-18 Listed $99,900 IAR
• 2025-07-14 Sold (Public Records) $47,000 Public Records
• 2025-07-11 Sold (MLS) $47,000 IAR
• 2025-07-11 Sold (MLS) $47,000 NEIRBR as distributed by MLS GRID
• 2025-06-14 Pending — NEIRBR as distributed by MLS GRID
• 2025-06-14 Pending — IAR
• 2025-06-01 Price Changed $54,900 NEIRBR as distributed by MLS GRID
• 2025-06-01 Price Changed $54,900 IAR
• 2025-05-01 Listed $63,000 IAR
• 2025-05-01 Listed $63,000 NEIRBR as distributed by MLS GRID

Property tax history

-3.9%/yr

Latest (2025): $706 · +8.3% YoY. Source: county tax records.