303 S Station St · Mingo, IA 50168

$67,000

3 bd · 1.0 ba · 1,236 sqft · SingleFamily public records · 230 Days on market

Built 1895 0.34 ac lot $54/sqft · 72% below area

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Schools +5.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your paint brush and tool belt this property is full of potential! Featuring 3 bedrooms and 1 bathroom, this home offers the possibility of adding a 4th bedroom with a little imagination. Situated on a great-sized lot in the heart of Mingo, there’s plenty of outdoor space to enjoy or expand. Perfect opportunity for a buyer looking to build sweat equity and make it their own.

Key facts

• 0.34 acre lot
• Built 1895
• Listed 230 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#835 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: employment D, schools D-, amenities F.
• Colfax-Mingo Community School District (rural): math 59% / reading 66% proficiency, ranked #213 of 289 in IA (top 74%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 16 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($463 loan paydown + $3k appreciation (4.5% local appreciation)).
• Jasper County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, 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 230 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y ago; this cycle's ask has dropped $16k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — 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 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?
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: 1.66% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.89%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $237,803
• List price: $67,000
• Delta: -71.83%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Davenport St	0.39mi	4/3.0 (+1)	1,256 (+2%)	20mo	$280,000	$223	49
103 Everett Cir	0.34mi	4/3.0 (+1)	1,366 (+10%)	6mo	$364,500	$267	48

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

Projected returns pro-forma

4.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.6%
• Equity multiple: 3.16×
• Total profit: $40,518
• Equity at exit: $36,150

10-year hold

• IRR: 34.3%
• Equity multiple: 6.34×
• Total profit: $100,229
• Equity at exit: $60,937

Cash invested: $18,760 (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 50168

• Home prices YoY: 3.1%
• Active inventory: 31
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,110 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$77 /mo · $928/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $420

Break-even live

Break-even rent $578

Max offer price $67,000

Occupancy floor 57%

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $67,000 Active 230 DOM
2. 2026-06-17
   days on market $67,000 Active 229 DOM
3. 2026-06-16
   days on market $67,000 Active 228 DOM
4. 2026-06-15
   price $67,000 Active 227 DOM
5. 2026-06-15
   days on market $69,500 Active 227 DOM
6. 2026-06-14
   days on market $69,500 Active 225 DOM
7. 2026-06-13
   days on market $69,500 Active 224 DOM
8. 2026-06-10
   days on market $69,500 Active 222 DOM
9. 2026-06-09
   days on market $69,500 Active 221 DOM
10. 2026-06-08
    days on market $69,500 Active 220 DOM
11. 2026-06-07
    days on market $69,500 Active 219 DOM
12. 2026-06-05
    days on market $69,500 Active 216 DOM
13. 2026-06-03
    days on market $69,500 Active 215 DOM
14. 2026-06-02
    days on market $69,500 Active 214 DOM
15. 2026-06-01
    days on market $69,500 Active 213 DOM
16. 2026-05-31
    days on market $69,500 Active 212 DOM
17. 2026-05-31
    days on market $69,500 Active 211 DOM
18. 2026-05-06
    price $69,500 389-char remark

    Show marketing remark (389 chars)

    Bring your paint brush and tool belt this property is full of potential! Featuring 3 bedrooms and 1 bathroom, this home offers the possibility of adding a 4th bedroom with a little imagination. Situated on a great-sized lot in the heart of Mingo, there’s plenty of outdoor space to enjoy or expand. Perfect opportunity for a buyer looking to build sweat equity and make it their own.

19. 2026-04-14
    price $74,500 389-char remark

    Show marketing remark (389 chars)

    Bring your paint brush and tool belt this property is full of potential! Featuring 3 bedrooms and 1 bathroom, this home offers the possibility of adding a 4th bedroom with a little imagination. Situated on a great-sized lot in the heart of Mingo, there’s plenty of outdoor space to enjoy or expand. Perfect opportunity for a buyer looking to build sweat equity and make it their own.

20. 2026-02-11
    price $76,500 389-char remark

    Show marketing remark (389 chars)

    Bring your paint brush and tool belt this property is full of potential! Featuring 3 bedrooms and 1 bathroom, this home offers the possibility of adding a 4th bedroom with a little imagination. Situated on a great-sized lot in the heart of Mingo, there’s plenty of outdoor space to enjoy or expand. Perfect opportunity for a buyer looking to build sweat equity and make it their own.

21. 2026-01-14
    price $79,950 389-char remark

    Show marketing remark (389 chars)

    Bring your paint brush and tool belt this property is full of potential! Featuring 3 bedrooms and 1 bathroom, this home offers the possibility of adding a 4th bedroom with a little imagination. Situated on a great-sized lot in the heart of Mingo, there’s plenty of outdoor space to enjoy or expand. Perfect opportunity for a buyer looking to build sweat equity and make it their own.

22. 2025-10-31
    listed $82,500 Active 389-char remark

    Show marketing remark (389 chars)

    Bring your paint brush and tool belt this property is full of potential! Featuring 3 bedrooms and 1 bathroom, this home offers the possibility of adding a 4th bedroom with a little imagination. Situated on a great-sized lot in the heart of Mingo, there’s plenty of outdoor space to enjoy or expand. Perfect opportunity for a buyer looking to build sweat equity and make it their own.

23. 2025-06-18
    soldstatus $58,000
24. 2025-06-12
    soldstatus $58,000 Closed 78-char remark

    Show marketing remark (78 chars)

    3 bedroom 1 bathroom home located near the center of Mingo! Full of potential!

25. 2025-05-03
    listed $58,000 78-char remark

    Show marketing remark (78 chars)

    3 bedroom 1 bathroom home located near the center of Mingo! Full of potential!

26. 2025-05-03
    historical 78-char remark

    Show marketing remark (78 chars)

    3 bedroom 1 bathroom home located near the center of Mingo! Full of potential!

27. 2016-04-05
    soldstatus $45,000
28. 2016-04-01
    soldstatus $45,000
29. 2016-04-01
    soldstatus $45,000
30. 2016-04-01
    soldstatus $45,000
31. 2016-01-10
    listed $50,000
32. 2016-01-10
    listed $50,000
33. 2016-01-01
    historical
34. 2015-08-18
    listed $50,000
35. 2014-10-20
    historical
36. 2014-10-15
    listed $50,000
37. 2014-01-31
    listed $47,700

ⓘ 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: $928 · $77/mo
• Projected year-2 tax: $990 · $82/mo
• Expected delta: +$62/yr (+$5/mo · 6.7%)

ⓘ 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 ≥104°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: $13,321
• − Mortgage interest: −$3,753
• − Property taxes: −$928
• − Insurance: −$335
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$1,949
• Taxable income: $4,224
• Est. tax owed @ 24.0%: −$1,014
• After-tax cash flow: $4,030/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: Colfax-Mingo Community School District
• NCES district ID: 1900009
• Math proficiency: 59% ▼ -2.00%
• Reading proficiency: 66% ▲ 7.00%
• Median HH income: $53,956
• Composite: 53.51/100
• National rank: #1450
• State rank: #213 of 289 in IA

Livability — Mingo

• Score: 60/100
• State rank: #835
• US rank: #19238

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mingo, IA
• Population (ZIP): 829

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 36,216 people
• By 2030: 35,730 · -1.3%
• By 2040: 34,727 · -4.1%
• By 2050: 33,802 · -6.7%
• By 2075: 33,382 · -7.8%
• By 2100: 32,761 · -9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Iranian 4% Portuguese 4% Romanian 4%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Jasper

• 2024 margin: Strong R (+27.6) · D 35.4% · R 63.0% · Other 1.5%
• 2008→2024 swing: -35.1pp toward R · 2008: 7.5pp · 2024: -27.6pp
• All cycles: 2024: R+27.6 2020: R+21.5 2016: R+18.4 2012: D+7.1 2008: D+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.55%
• Current HPI: 152.6455
• 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

+45.7% since first listed

20 events — show timeline

• 2026-05-06 Price Changed $69,500 DMMLS
• 2026-04-14 Price Changed $74,500 DMMLS
• 2026-02-11 Price Changed $76,500 DMMLS
• 2026-01-14 Price Changed $79,950 DMMLS
• 2025-10-31 Listed $82,500 DMMLS
• 2025-06-18 Sold (Public Records) $58,000 Public Records
• 2025-06-12 Sold (MLS) $58,000 DMMLS
• 2025-05-03 Listing Removed — DMMLS
• 2025-05-03 Listed $58,000 DMMLS
• 2016-04-05 Sold (Public Records) $45,000 Public Records
• 2016-04-01 Sold (MLS) $45,000 IAR
• 2016-04-01 Sold (MLS) $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-01 Sold (MLS) $45,000 DMMLS
• 2016-01-10 Listed $50,000 IAR
• 2016-01-10 Listed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-01 Listing Removed — DMMLS
• 2015-08-18 Listed $50,000 DMMLS
• 2014-10-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-15 Listed $50,000 DMMLS
• 2014-01-31 Listed $47,700 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2025): $928 · +0.7% YoY. Source: county tax records.