902 Lincoln St · Pella, IA 50219

$250,000

4 bd · 1.0 ba · 1,533 sqft · SingleFamily public records · 43 Days on market

Built 1912 8,700 sqft lot $163/sqft · 22% below area Est $322k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.3/30.0
• Schools +7.3/10.0
• Rent growth +4.5/5.0
• Livability +4.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FOUR bedroom, Charming and updated two story awaits you! Walking distance to the square, parks and Elementary school! This home has been updated down to the studs! Updates include: new siding-windows-roof-drywall-kitchen-flooring-electrical-light fixtures and more! Two bedrooms, open concept kitchen and living, pantry, laundry and bath on the main level. Upstairs features two additional bedrooms, large closets and a bonus room! Relax on the cozy porch in the front or in the spacious fenced backyard! Call today for your private showing and be sure to ask your agent for the complete list of updates! RESERVED ITEMS: Washer/Dryer, Window Treatments

Key facts

• New siding
• Practical layout
• Updated home

Tags

• UPDATED HOME
• PRACTICAL LAYOUT
• OPEN-CONCEPT LIVING SPACE
• NEW ROOF
• NEW SIDING
• NEW SOFFIT

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Cement siding; Block and stone foundation; Asphalt shingle roof
• Exterior features: Deck; Concrete road access; Rectangular lot (approximately 0.2 acres, 58 x 150)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Unfinished basement
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-331 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (23.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (34.0% below list).
• Recommended offer: $165k (34.0% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.0% in Pella — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 90/100 on livability (#6 in IA, #101 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: commute F.
• Pella Community School District (town): math 85% / reading 85% proficiency, ranked #8 of 289 in IA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Madison Elementary School (math 82% / reading 67%, grade A, #131 of 616 statewide, top 27%, 490 students, 23% FRL); Jefferson Intermediate (math 80% / reading 85%, grade A+, #16 of 246 statewide, top 8%, 526 students, 19% FRL); Pella High School (math 85% / reading 89%, grade A, #9 of 336 statewide, top 3%, 764 students, 14% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 244 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 122 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Marion County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,922 (34.0% 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. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.66% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.67%
• DSCR: 0.75
• GRM: 12.6

CMA / ARV

• ARV (median comp): $322,441
• List price: $250,000
• Delta: -22.47%
• 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
1125 Oakwood Dr	0.26mi	3/2.0 (-1)	1,500 (-2%)	3mo	$425,000	$283	73
1009 W 1st St	0.05mi	3/1.0 (-1)	1,380 (-10%)	7mo	$207,000	$150	70
1114 Marion Ave	0.08mi	3/2.0 (-1)	1,717 (+12%)	4mo	$298,000	$174	64
905 E First St	0.32mi	3/1.5 (-1)	1,624 (+6%)	8mo	$325,000	$200	62
1112 Liberty St	0.42mi	3/2.5 (-1)	1,620 (+6%)	1mo	$262,000	$162	59
1412 Broadway St	0.59mi	4/2.0	1,448 (-6%)	1mo	$335,000	$231	58
307 Columbus St	0.53mi	4/1.5	1,415 (-8%)	3mo	$290,000	$205	58
1006 Monroe St	0.26mi	3/2.5 (-1)	1,741 (+14%)	2mo	$415,200	$238	52
409 Washington St	0.47mi	3/2.5 (-1)	1,664 (+8%)	3mo	$318,000	$191	50
1006 Union St	0.45mi	3/2.0 (-1)	1,352 (-12%)	2mo	$275,000	$203	48
400 Washington St	0.49mi	4/2.0	1,722 (+12%)	6mo	$283,000	$164	48
102 Jackson St	0.71mi	5/3.5 (+1)	1,512 (-1%)	11mo	$365,000	$241	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.24×
• Total profit: $-52,897
• Equity at exit: $37,276

10-year hold

• IRR: -6.2%
• Equity multiple: 0.52×
• Total profit: $-33,657
• Equity at exit: $21,615

Cash invested: $70,000 (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 50219

• Home prices YoY: -33.5%
• Rents YoY: 8.2%
• Active inventory: 244
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$218 /mo · $2,622/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-331

Break-even live

Break-even rent $2,068

Max offer price $191,561

Occupancy floor —

Sensitivity live

Price	-10% $-189	-5% $-260	+0% $-331	+5% $-402	+10% $-472
Rent	-10% $-461	-5% $-396	+0% $-331	+5% $-266	+10% $-201
Rate	-1.0pp $-205	-0.5pp $-267	base $-331	+0.5pp $-396	+1.0pp $-461

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1209 Boone St Unit 1/2 Pella, IA	3.0	1.5	1100	$1,595	$1.45	45d	1	0.15mi
1428 Edgewood Dr Pella, IA	4.0	3.0	1451	$2,200	$1.52	25d	1	0.70mi
406 E 15th St Unit 406D Pella, IA	3.0	1.5	1100	$1,395	$1.27	16d	1	1.38mi
410 E 15th St Unit 410C Pella, IA	3.0	1.5	1100	$1,395	$1.27	25d	1	1.38mi
410 E 15th St Unit 410C Pella, IA	3.0	1.5	1100	$1,395	$1.27	16d	1	1.38mi

Listing history 22 events

1. 2026-06-07
   statusdays on market $250,000 Pending 43 DOM
2. 2026-06-03
   days on market $250,000 Active 42 DOM
3. 2026-06-02
   days on market $250,000 Active 41 DOM
4. 2026-06-01
   days on market $250,000 Active 40 DOM
5. 2026-05-31
   days on market $250,000 Active 39 DOM
6. 2026-05-30
   days on market $250,000 Active 38 DOM
7. 2026-05-04
   price $257,000 680-char remark
8. 2026-04-22
   listed $265,000 Active 680-char remark
9. 2021-08-18
   soldstatus $170,500
10. 2020-10-16
    soldstatus $147,000
11. 2020-10-14
    soldstatus $147,000 Closed

    Show marketing remark (654 chars)

    FOUR bedroom, Charming and updated two story awaits you! Walking distance to the square, parks and Elementary school! This home has been updated down to the studs! Updates include: new siding-windows-roof-drywall-kitchen-flooring-electrical-light fixtures and more! Two bedrooms, open concept kitchen and living, pantry, laundry and bath on the main level. Upstairs features two additional bedrooms, large closets and a bonus room! Relax on the cozy porch in the front or in the spacious fenced backyard! Call today for your private showing and be sure to ask your agent for the complete list of updates! RESERVED ITEMS: Washer/Dryer, Window Treatments

12. 2020-08-17
    status Pending

    Show marketing remark (654 chars)

    FOUR bedroom, Charming and updated two story awaits you! Walking distance to the square, parks and Elementary school! This home has been updated down to the studs! Updates include: new siding-windows-roof-drywall-kitchen-flooring-electrical-light fixtures and more! Two bedrooms, open concept kitchen and living, pantry, laundry and bath on the main level. Upstairs features two additional bedrooms, large closets and a bonus room! Relax on the cozy porch in the front or in the spacious fenced backyard! Call today for your private showing and be sure to ask your agent for the complete list of updates! RESERVED ITEMS: Washer/Dryer, Window Treatments

13. 2020-07-29
    price $149,900

    Show marketing remark (654 chars)

    FOUR bedroom, Charming and updated two story awaits you! Walking distance to the square, parks and Elementary school! This home has been updated down to the studs! Updates include: new siding-windows-roof-drywall-kitchen-flooring-electrical-light fixtures and more! Two bedrooms, open concept kitchen and living, pantry, laundry and bath on the main level. Upstairs features two additional bedrooms, large closets and a bonus room! Relax on the cozy porch in the front or in the spacious fenced backyard! Call today for your private showing and be sure to ask your agent for the complete list of updates! RESERVED ITEMS: Washer/Dryer, Window Treatments

14. 2020-07-23
    price $156,900

    Show marketing remark (654 chars)

    FOUR bedroom, Charming and updated two story awaits you! Walking distance to the square, parks and Elementary school! This home has been updated down to the studs! Updates include: new siding-windows-roof-drywall-kitchen-flooring-electrical-light fixtures and more! Two bedrooms, open concept kitchen and living, pantry, laundry and bath on the main level. Upstairs features two additional bedrooms, large closets and a bonus room! Relax on the cozy porch in the front or in the spacious fenced backyard! Call today for your private showing and be sure to ask your agent for the complete list of updates! RESERVED ITEMS: Washer/Dryer, Window Treatments

15. 2020-07-15
    listed $159,900 Active

    Show marketing remark (654 chars)

    FOUR bedroom, Charming and updated two story awaits you! Walking distance to the square, parks and Elementary school! This home has been updated down to the studs! Updates include: new siding-windows-roof-drywall-kitchen-flooring-electrical-light fixtures and more! Two bedrooms, open concept kitchen and living, pantry, laundry and bath on the main level. Upstairs features two additional bedrooms, large closets and a bonus room! Relax on the cozy porch in the front or in the spacious fenced backyard! Call today for your private showing and be sure to ask your agent for the complete list of updates! RESERVED ITEMS: Washer/Dryer, Window Treatments

16. 2020-06-05
    soldstatus $117,000
17. 2016-04-11
    soldstatus $82,500
18. 2016-01-01
    historical
19. 2015-07-30
    historical
20. 2015-07-01
    listed $85,000
21. 2015-07-01
    listed $85,000
22. 2015-07-01
    listed $85,000

ⓘ 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: $2,622 · $218/mo
• Projected year-2 tax: $3,274 · $273/mo
• Expected delta: +$652/yr (+$54/mo · 24.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $19,791
• − Mortgage interest: −$14,004
• − Property taxes: −$2,622
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$7,273
• Taxable loss: −$8,524
• Est. tax savings @ 24.0%: +$2,046
• After-tax cash flow: $-1,924/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: Pella Community School District
• NCES district ID: 1922470
• Math proficiency: 85% ▼ -1.00%
• Reading proficiency: 85% ▬ 0.00%
• Median HH income: $65,821
• Composite: 73.32/100
• National rank: #183
• State rank: #8 of 289 in IA

Livability — Pella

• Score: 90/100
• State rank: #6
• US rank: #101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pella, IA
• County: Marion County · 25,533 people
• City population: 14,416
• Metro: Pella, IA
• Population (ZIP): 14,416
• Household income: $86,807
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 374.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 32,883 people
• By 2030: 32,685 · -0.6%
• By 2040: 31,892 · -3.0%
• By 2050: 30,691 · -6.7%
• By 2075: 27,610 · -16.0%
• By 2100: 23,851 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Iranian 31% Portuguese 4% Italian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+37.8) · D 30.4% · R 68.2% · Other 1.4%
• 2008→2024 swing: -27.0pp toward R · 2008: -10.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+33.7 2016: R+31.2 2012: R+13.3 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.86%
• Current HPI: 227.7361
• Rent YoY: ▲ 8.16%
• Metro: Pella, IA
• 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

+194.1% since first listed

18 events — show timeline

• 2026-06-04 Pending — DMMLS
• 2026-05-19 Price Changed $250,000 DMMLS
• 2026-05-04 Price Changed $257,000 DMMLS
• 2026-04-22 Listed $265,000 DMMLS
• 2021-08-18 Sold (Public Records) $170,500 Public Records
• 2020-10-16 Sold (Public Records) $147,000 Public Records
• 2020-10-14 Sold (MLS) $147,000 DMMLS
• 2020-08-17 Pending — DMMLS
• 2020-07-29 Price Changed $149,900 DMMLS
• 2020-07-23 Price Changed $156,900 DMMLS
• 2020-07-15 Listed $159,900 DMMLS
• 2020-06-05 Sold (Public Records) $117,000 Public Records
• 2016-04-11 Sold (Public Records) $82,500 Public Records
• 2016-01-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-30 Listing Removed — DMMLS
• 2015-07-01 Listed $85,000 DMMLS
• 2015-07-01 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-01 Listed $85,000 IAR

Property tax history

+5.7%/yr

Latest (2025): $2,622 · +4.1% YoY. Source: county tax records.