480 W Center St · Britt, IA 50423

$89,500

3 bd · 1.5 ba · 1,696 sqft · SingleFamily public records · 28 Days on market

Built 1890 8,712 sqft lot Est $159k · 44% 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
• Appreciation +10.0/10.0
• 1% rule +9.2/10.0
• Schools +6.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Stately two story home sitting on a corner lot in the heart of Britt! This two story homes features a large entryway which enters into what appears to be the former garage and is now a fully finished "bonus room", with 384 sf of space and a tiled floor and fireplace. To the other end of the entryway, you walk into the kitchen area. A convenient half bath is located on the main level, laundry room, as well as the dining and living room. Beautiful original hardwood floors through parts of the home. The upper level features three bedrooms and the full bath. There is an oversized detached double garage (26x30) for all the storage or workspace you should need. Make your MOVE today!

Key facts

• Shade trees
• Concrete patio
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• SHADE TREES
• CONCRETE PATIO

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two levels; Single-family residence; Residential property
• Construction: Wood siding construction
• Exterior features: Shingle roof; Lot dimensions approximately 66 x 132

Interior

• Kitchen: Range; Cooktop; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Fireplace (1); Basement; Water softener owned

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#121 in IA, #2,262 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• West Hancock Community School District (rural): math 76% / reading 74% proficiency, ranked #77 of 289 in IA (top 27%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 21 active listings in the ZIP; 11 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($619 loan paydown + $9k appreciation (10.0% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $65k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,157 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.87%
• DSCR: 1.88
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $159,424
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 4th St SW	0.29mi	3/1.5	1,688 (-0%)	23mo	$158,000	$94	66
285 Center St W	0.13mi	4/1.5 (+1)	1,520 (-10%)	22mo	$47,000	$31	53
515 1st St SE	0.64mi	3/1.5	1,456 (-14%)	7mo	$77,500	$53	41
907 Golfview Ave	0.66mi	4/3.0 (+1)	1,519 (-10%)	18mo	$300,000	$197	26

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.1%
• Equity multiple: 4.00×
• Total profit: $75,175
• Equity at exit: $80,629

10-year hold

• IRR: 33.7%
• Equity multiple: 9.00×
• Total profit: $200,596
• Equity at exit: $173,879

Cash invested: $25,060 (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 50423

• Home prices YoY: 8.2%
• Active inventory: 21
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$83 /mo · $994/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $415

Break-even live

Break-even rent $746

Max offer price $89,500

Occupancy floor 62%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $89,500 Active 28 DOM
2. 2026-06-17
   days on market $89,500 Active 27 DOM
3. 2026-06-16
   days on market $89,500 Active 26 DOM
4. 2026-06-15
   days on market $89,500 Active 25 DOM
5. 2026-06-13
   days on market $89,500 Active 23 DOM
6. 2026-06-12
   days on market $89,500 Active 22 DOM
7. 2026-06-09
   days on market $89,500 Active 19 DOM
8. 2026-06-08
   days on market $89,500 Active 18 DOM
9. 2026-06-07
   days on market $89,500 Active 17 DOM
10. 2026-06-07
    days on market $89,500 Active 16 DOM
11. 2026-06-04
    days on market $89,500 Active 13 DOM
12. 2026-06-02
    days on market $89,500 Active 12 DOM
13. 2026-06-01
    days on market $89,500 Active 11 DOM
14. 2026-05-31
    days on market $89,500 Active 10 DOM
15. 2026-05-31
    days on market $89,500 Active 9 DOM
16. 2026-05-21
    listed $89,500 Active
17. 2022-05-31
    soldstatus $65,000 695-char remark

    Show marketing remark (695 chars)

    Stately two story home sitting on a corner lot in the heart of Britt! This two story homes features a large entryway which enters into what appears to be the former garage and is now a fully finished "bonus room", with 384 sf of space and a tiled floor and fireplace. To the other end of the entryway, you walk into the kitchen area. A convenient half bath is located on the main level, laundry room, as well as the dining and living room. Beautiful original hardwood floors through parts of the home. The upper level features three bedrooms and the full bath. There is an oversized detached double garage (26x30) for all the storage or workspace you should need. Make your MOVE today!

18. 2021-11-01
    listed $69,900 695-char remark

    Show marketing remark (695 chars)

    Stately two story home sitting on a corner lot in the heart of Britt! This two story homes features a large entryway which enters into what appears to be the former garage and is now a fully finished "bonus room", with 384 sf of space and a tiled floor and fireplace. To the other end of the entryway, you walk into the kitchen area. A convenient half bath is located on the main level, laundry room, as well as the dining and living room. Beautiful original hardwood floors through parts of the home. The upper level features three bedrooms and the full bath. There is an oversized detached double garage (26x30) for all the storage or workspace you should need. Make your MOVE today!

19. 2018-01-26
    soldstatus $54,000
20. 2018-01-18
    soldstatus $54,000 333-char remark

    Show marketing remark (333 chars)

    Three bedroom home with large family room addition. This home has main level laundry, formal dining room, and has many utility updates. Newer shingles 2011, forced air 2012, central air 2012, water heater 2015, water softener, electrical breaker box 2012 and gutters 2015. Exterior will be freshly painted as soon as weather permits.

21. 2017-04-28
    listed $54,000 333-char remark

    Show marketing remark (333 chars)

    Three bedroom home with large family room addition. This home has main level laundry, formal dining room, and has many utility updates. Newer shingles 2011, forced air 2012, central air 2012, water heater 2015, water softener, electrical breaker box 2012 and gutters 2015. Exterior will be freshly painted as soon as weather permits.

22. 2016-03-18
    soldstatus $46,000
23. 2016-03-18
    soldstatus $46,000
24. 2015-10-21
    listed $52,500

ⓘ 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: $994 · $83/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$206/yr (+$17/mo · 20.7%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 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: $15,257
• − Mortgage interest: −$5,013
• − Property taxes: −$994
• − Insurance: −$448
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$2,604
• Taxable income: $3,758
• Est. tax owed @ 24.0%: −$902
• After-tax cash flow: $4,078/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: West Hancock Community School District
• NCES district ID: 1905430
• Math proficiency: 76% ▼ -5.00%
• Reading proficiency: 74% ▼ -1.00%
• Median HH income: $46,779
• Composite: 63.22/100
• National rank: #634
• State rank: #77 of 289 in IA

Livability — Britt

• Score: 79/100
• State rank: #121
• US rank: #2262

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: Britt, IA
• Population (ZIP): 2,401

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 10,462 people
• By 2030: 10,154 · -2.9%
• By 2040: 9,552 · -8.7%
• By 2050: 9,034 · -13.6%
• By 2075: 8,233 · -21.3%
• By 2100: 7,050 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 2% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 11% Iranian 6% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.6pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.9 2016: R+41.1 2012: R+13.6 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.61%
• Current HPI: 245.6369
• 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

+70.5% since first listed

9 events — show timeline

• 2026-05-21 Listed $89,500 IAR
• 2022-05-31 Sold (MLS) $65,000 IAR
• 2021-11-01 Listed $69,900 IAR
• 2018-01-26 Sold (Public Records) $54,000 Public Records
• 2018-01-18 Sold (MLS) $54,000 IAR
• 2017-04-28 Listed $54,000 IAR
• 2016-03-18 Sold (Public Records) $46,000 Public Records
• 2016-03-18 Sold (MLS) $46,000 IAR
• 2015-10-21 Listed $52,500 IAR

Property tax history

+3.2%/yr

Latest (2025): $994 · +3.8% YoY. Source: county tax records.