656 N Cedar St · Monticello, IA 52310

$79,900

2 bd · 1.0 ba · 918 sqft · SingleFamily public records · 74 Days on market

Built 1900 8,448 sqft lot $87/sqft · 27% below area Est $109k · 27% under

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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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Schools +6.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in a convenient location.

Key facts

• 8,448 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($968 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.6% in Monticello — 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 78/100 on livability (#149 in IA, #2,739 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Monticello Community School District (town): math 68% / reading 73% proficiency, ranked #131 of 289 in IA (top 45%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 47 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 25 units permitted in Jones County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jones County population projected to shrink 8% 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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. 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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $109,183
• List price: $79,900
• Delta: -26.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 N Cedar Street St	0.06mi	2/2.0	908 (-1%)	8mo	$115,000	$127	85
746 N Cedar Street St	0.11mi	3/1.0 (+1)	971 (+6%)	1mo	$39,500	$41	79
244 Arminda Ave	0.50mi	3/2.0 (+1)	988 (+8%)	3mo	$178,000	$180	53
834 N Sycamore Street St	0.22mi	2/1.0	816 (-11%)	23mo	$85,000	$104	52
141 N Maple St	0.45mi	2/1.0	1,012 (+10%)	21mo	$68,000	$67	45

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $508
• Equity at exit: $11,913

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $17,812
• Equity at exit: $6,908

Cash invested: $22,372 (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 52310

• Home prices YoY: -25.9%
• Active inventory: 47
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $968 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $211

Break-even live

Break-even rent $701

Max offer price $79,900

Occupancy floor 73%

Sensitivity live

Price	-10% $256	-5% $234	+0% $211	+5% $188	+10% $166
Rent	-10% $135	-5% $173	+0% $211	+5% $249	+10% $288
Rate	-1.0pp $251	-0.5pp $231	base $211	+0.5pp $190	+1.0pp $169

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 E 1st St Unit 301 Monticello, IA	2.0	1.0	949	$1,100	$1.16	0d	1	0.66mi
715 Ridgeview Rd Monticello, IA	2.0	1.0	925	$760	$0.82	0d	1	1.07mi

Listing history 5 events

1. 2026-06-02
   days on market $79,900 Active 74 DOM
2. 2026-06-01
   days on market $79,900 Active 73 DOM
3. 2026-05-31
   days on market $79,900 Active 72 DOM
4. 2026-05-31
   days on market $79,900 Active 71 DOM
5. 2026-03-20
   listed $79,900 Active 54-char remark

   Show marketing remark (54 chars)

   Great investment opportunity in a convenient location.

ⓘ 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: $1,218 · $102/mo
• Projected year-2 tax: $1,236 · $103/mo
• Expected delta: +$18/yr (+$2/mo · 1.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,617
• − Mortgage interest: −$4,476
• − Property taxes: −$1,218
• − Insurance: −$400
• − Repairs & maintenance: −$929
• − Management: −$929
• − Depreciation: −$2,324
• Taxable income: $1,341
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $2,210/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: Monticello Community School District
• NCES district ID: 1919650
• Math proficiency: 68% ▼ -3.00%
• Reading proficiency: 73% ▬ 0.00%
• Median HH income: $52,768
• Composite: 60.03/100
• National rank: #872
• State rank: #131 of 289 in IA

Livability — Monticello

• Score: 78/100
• State rank: #149
• US rank: #2739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, IA
• Population (ZIP): 6,384

Population outlook (Jones County) Hauer SSP2

• Today (2025): 20,023 people
• By 2030: 19,702 · -1.6%
• By 2040: 19,007 · -5.1%
• By 2050: 18,396 · -8.1%
• By 2075: 17,955 · -10.3%
• By 2100: 17,448 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Iranian 1% Lithuanian 1% Portuguese 1%
• Foreign-born: 0% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Jones

• 2024 margin: Strong R (+26.3) · D 36.0% · R 62.3% · Other 1.7%
• 2008→2024 swing: -36.7pp toward R · 2008: 10.4pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+21.5 2016: R+19.4 2012: D+7.7 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.44%
• Current HPI: 196.1405
• 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

1 event — show timeline

• 2026-03-20 Listed $79,900 NEIRBR as distributed by MLS GRID

Property tax history

+4.9%/yr

Latest (2025): $1,218 · -28.9% YoY. Source: county tax records.