2842 285 Ave · Hopkinton, IA 52237

$409,000

3 bd · 2.0 ba · 2,304 sqft · SingleFamily public records · 41 Days on market

Built 2020 $178/sqft · 29% below area Est $577k · 29% 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
• Appreciation +7.3/10.0
• Schools +6.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Just what you are looking for! A shouse on 9.86 peaceful acres in Delaware County, just minutes from Hopkinton. This 5-bed, 2-bath home features an open layout and is heated with a wood-burning stove. Large overhead garage door provides excellent storage for equipment or recreational vehicles. Walk-up loft offers additional space ready to be finished for a game room, studio, or hobby area. Attached spray-foam-insulated barn is ideal for animals of all kinds! A great opportunity for country living with room to grow.

Key facts

• Country living
• Wood-burning stove
• Walk-up loft

Tags

• WOOD-BURNING STOVE
• LARGE OVERHEAD GARAGE DOOR
• WALK-UP LOFT
• SPRAY-FOAM-INSULATED BARN
• COUNTRY LIVING

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Well water; Septic tank
• Home design: Single-family detached residence; Two-story home; Residential zoning
• Construction: Steel siding; Slab foundation; Built area above grade: 2,304
• Exterior features: Porch; Fenced lot; Metal roof

Interior

• Kitchen: Range
• Bedrooms: One main-level bedroom
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Propane heating; Other heating; No central cooling
• Interior features: Window treatments; No fireplace
• Laundry & utility: No laundry room listed; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $409k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (71.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (71.0% below list).
• Recommended offer: $117k (71.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 71/100 on livability (#334 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Maquoketa Valley Community School District (rural): math 79% / reading 83% proficiency, ranked #27 of 289 in IA (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Delhi Elementary School (math 82% / reading 77%, grade A, #71 of 616 statewide, top 15%, 148 students, 29% FRL); Maquoketa Valley Middle School (math 82% / reading 82%, grade A+, #22 of 246 statewide, top 12%, 159 students, 30% FRL); Maquoketa Valley Senior High School (math 77% / reading 92%, grade A, #14 of 336 statewide, top 4%, 191 students, 29% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: 8 active listings in the ZIP; 48 units permitted in Delaware County in 2024 (24 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($3k loan paydown + $19k appreciation (4.7% local appreciation)).
• Delaware County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($397k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $300k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $116,618 (71.5% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 71% concession, seller financing, or rate buy-down credit?
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: 0.29% ✗
• Cap rate: 1.44%
• Cash-on-cash: -17.34%
• DSCR: 0.23
• GRM: 28.8

CMA / ARV

• ARV (median comp): $577,381
• List price: $409,000
• Delta: -29.16%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

4.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-19,184
• Equity at exit: $223,358

10-year hold

• IRR: 1.7%
• Equity multiple: 1.32×
• Total profit: $36,870
• Equity at exit: $378,701

Cash invested: $114,520 (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 52237

• Home prices YoY: 2.8%
• Active inventory: 8
• Price-to-rent: 28.8×

Monthly cashflow live

• Estimated rent: $1,185 medium
• Mortgage (P&I): −$2,145
• Tax from tax record: −$276 /mo · $3,312/yr
• Insurance: −$170
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-1,655

Break-even live

Break-even rent $3,280

Max offer price $116,618

Occupancy floor —

Sensitivity live

Price	-10% $-1,424	-5% $-1,539	+0% $-1,655	+5% $-1,771	+10% $-1,887
Rent	-10% $-1,749	-5% $-1,702	+0% $-1,655	+5% $-1,608	+10% $-1,561
Rate	-1.0pp $-1,449	-0.5pp $-1,551	base $-1,655	+0.5pp $-1,761	+1.0pp $-1,869

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: $102,250
• Closing costs: $12,270
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $409,000 Active 41 DOM
2. 2026-06-21
   days on market $409,000 Active 40 DOM
3. 2026-06-21
   days on market $409,000 Active 39 DOM
4. 2026-06-18
   days on market $409,000 Active 37 DOM
5. 2026-06-17
   days on market $409,000 Active 36 DOM
6. 2026-06-16
   days on market $409,000 Active 35 DOM
7. 2026-06-15
   days on market $409,000 Active 34 DOM
8. 2026-06-13
   days on market $409,000 Active 32 DOM
9. 2026-06-12
   days on market $409,000 Active 31 DOM
10. 2026-06-09
    days on market $409,000 Active 28 DOM
11. 2026-06-08
    days on market $409,000 Active 27 DOM
12. 2026-06-07
    days on market $409,000 Active 26 DOM
13. 2026-06-07
    days on market $409,000 Active 25 DOM
14. 2026-06-04
    days on market $409,000 Active 22 DOM
15. 2026-06-03
    price $409,000 Active 21 DOM
16. 2026-06-02
    days on market $429,000 Active 21 DOM
17. 2026-06-01
    days on market $429,000 Active 20 DOM
18. 2026-05-31
    days on market $429,000 Active 19 DOM
19. 2026-05-31
    days on market $429,000 Active 18 DOM
20. 2026-05-12
    listed $429,000 Active 520-char remark
21. 2024-12-23
    soldstatus $300,000
22. 2023-06-16
    soldstatus $139,000
23. 2019-12-26
    soldstatus $100,000
24. 2016-03-24
    listed $239,000

ⓘ 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: $3,312 · $276/mo
• Projected year-2 tax: $4,867 · $406/mo
• Expected delta: +$1,555/yr (+$130/mo · 46.9%)

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

Taxation est. · year 1

• Rental income: $14,220
• − Mortgage interest: −$22,910
• − Property taxes: −$3,312
• − Insurance: −$2,045
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$11,898
• Taxable loss: −$28,221
• Est. tax savings @ 24.0%: +$6,773
• After-tax cash flow: $-13,088/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: Maquoketa Valley Community School District
• NCES district ID: 1918540
• Math proficiency: 79% ▼ -8.00%
• Reading proficiency: 83% ▼ -8.00%
• Median HH income: $53,569
• Composite: 68.82/100
• National rank: #332
• State rank: #27 of 289 in IA

Livability — Hopkinton

• Score: 71/100
• State rank: #334
• US rank: #6838

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,526
• Population (ZIP): 1,526

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 16,718 people
• By 2030: 16,267 · -2.7%
• By 2040: 15,277 · -8.6%
• By 2050: 14,198 · -15.1%
• By 2075: 12,804 · -23.4%
• By 2100: 11,678 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Polish 15% Lithuanian 6%
• Languages at home: 87% English-only · German/W. Germanic 10% Spanish 3%

Political lean MEDSL · Delaware

• 2024 margin: Solid R (+39.6) · D 29.4% · R 69.1% · Other 1.5%
• 2008→2024 swing: -45.6pp toward R · 2008: 6.0pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+35.1 2016: R+29.8 2012: R+0.2 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.66%
• Current HPI: 169.4116
• 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

+71.1% since first listed

6 events — show timeline

• 2026-06-03 Price Changed $409,000 ECIMLS
• 2026-05-12 Listed $429,000 ECIMLS
• 2024-12-23 Sold (Public Records) $300,000 Public Records
• 2023-06-16 Sold (Public Records) $139,000 Public Records
• 2019-12-26 Sold (Public Records) $100,000 Public Records
• 2016-03-24 Listed $239,000 ECIMLS

Property tax history

+9.1%/yr

Latest (2025): $3,312 · +3.4% YoY. Source: county tax records.