206 Winter St St · Calamus, IA 52729

$119,000

3 bd · 1.0 ba · 1,132 sqft · SingleFamily public records · 11 Days on market

Built 1955 9,191 sqft lot Est $138k · 14% under

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Why this score? — see what drove the C 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 +15.7/30.0
• ARV discount +13.7/15.0
• Appreciation +6.9/10.0
• Schools +5.9/10.0
• DSCR +4.8/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover quality living and small-town charm at 206 Winter St in Calamus. This 1,132 sq ft ranch home offers a peaceful, community-oriented lifestyle. The convenient single-level layout features 3 comfortable bedrooms, a full bath, and a welcoming eat-in kitchen. The generous 9,200 sq ft lot is perfect for gardening and recreation. The true highlight is the location within the highly-regarded Calamus-Wheatland Community School District, praised for its academic excellence, small class sizes, and strong community involvement. Enjoy a safe, welcoming environment with an outstanding educational foundation. This isn't just a house; it's your opportunity to find a true home.

Key facts

• Generous lot
• 9,191 sq ft lot
• Garage

Tags

• WELCOMING EAT-IN KITCHEN
• GENEROUS LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $52 ($629/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (11.8% below list).
• Recommended offer: $105k (11.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#555 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools A, housing A; Watch: amenities F, commute F, health & safety F.
• Calamus-Wheatland Community School District (rural): math 71% / reading 67% proficiency, ranked #150 of 289 in IA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 116 units permitted in Clinton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($823 loan paydown + $5k appreciation (3.9% local appreciation)).
• Clinton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,945 (11.8% below list)

Questions for the listing agent

1. Built in 1955 — 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 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?
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: 0.88% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $138,104
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Grove St	0.32mi	2/1.0 (-1)	1,284 (+13%)	8mo	$157,000	$122	51

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

Projected returns pro-forma

3.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.70×
• Total profit: $23,409
• Equity at exit: $59,621

10-year hold

• IRR: 13.3%
• Equity multiple: 3.16×
• Total profit: $71,817
• Equity at exit: $96,949

Cash invested: $33,320 (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 52729

• Home prices YoY: 2.5%
• Active inventory: 14
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,049 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $52

Break-even live

Break-even rent $983

Max offer price $119,000

Occupancy floor 90%

Sensitivity live

Price	-10% $120	-5% $86	+0% $52	+5% $19	+10% $-15
Rent	-10% $-30	-5% $11	+0% $52	+5% $94	+10% $135
Rate	-1.0pp $112	-0.5pp $83	base $52	+0.5pp $22	+1.0pp $-10

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-12-03
   soldstatus $125,000
2. 2025-10-22
   status Pending
3. 2025-10-11
   listed $119,000 Active

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: +$316/yr (+$26/mo · 25.6%)

ⓘ 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 3/10 Moderate 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,593
• − Mortgage interest: −$6,666
• − Property taxes: −$1,236
• − Insurance: −$595
• − Repairs & maintenance: −$1,007
• − Management: −$1,007
• − Depreciation: −$3,462
• Taxable loss: −$1,380
• Est. tax savings @ 24.0%: +$331
• After-tax cash flow: $960/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: Calamus-Wheatland Community School District
• NCES district ID: 1906000
• Math proficiency: 71% ▼ -6.00%
• Reading proficiency: 67% ▼ -3.00%
• Median HH income: $54,711
• Composite: 59.01/100
• National rank: #962
• State rank: #150 of 289 in IA

Livability — Calamus

• Score: 65/100
• State rank: #555
• US rank: #12527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calamus, IA
• Population (ZIP): 834

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 44,817 people
• By 2030: 43,090 · -3.9%
• By 2040: 39,513 · -11.8%
• By 2050: 36,209 · -19.2%
• By 2075: 31,888 · -28.8%
• By 2100: 30,382 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Asian 9% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Italian 3% English 3% Iranian 2%
• Foreign-born: 9% · China
• Languages at home: 91% English-only · Chinese 9%

Political lean MEDSL · Clinton

• 2024 margin: R (+18.9) · D 39.8% · R 58.6% · Other 1.6%
• 2008→2024 swing: -41.9pp toward R · 2008: 23.0pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+10.3 2016: R+5.1 2012: D+22.9 2008: D+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.90%
• Current HPI: 157.408
• 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

+5.0% since first listed

3 events — show timeline

• 2025-12-03 Sold (Public Records) $125,000 Public Records
• 2025-10-22 Pending — CRAAR, CDRMLS
• 2025-10-11 Listed $119,000 CRAAR, CDRMLS

Property tax history

+1.3%/yr

Latest (2025): $1,236 · +0.7% YoY. Source: county tax records.