907 6th Ave · Belle Plaine, IA 52208

$149,900

2 bd · 1.5 ba · 958 sqft · MultiFamily public records · 76 Days on market

Built 1925 8,640 sqft lot $156/sqft · 108% above area Est $144k · at est.

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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 +23.6/30.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• Schools +5.9/10.0
• ARV discount +5.7/15.0
• 1% rule +5.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Updated investment opportunity! Updates include the entire bathroom, flooring, kitchen updates, and more! This property is move-in ready, features a steel roof, and there's street parking and off-street parking in the back, off the alley. Vinyl siding, a steel roof, vinyl windows, and so many maintenance-free features. The back unit is rented out for $700/m, and the front unit has just recently been completed with the updates and will be rented out for $750/m. Ready for its new owner and turn-key!

Key facts

• 8,640 sq ft lot
• Built 1925
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#215 in IA, #3,962 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Belle Plaine Community School District (rural): math 68% / reading 74% proficiency, ranked #144 of 289 in IA (top 50%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 31 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 34 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Benton County population projected at -13% 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $28k; list at $150k implies a 445% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 1925 — 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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (median comp): $143,987
• List price: $149,900
• Delta: 4.11%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.2%
• Equity multiple: 3.37×
• Total profit: $99,604
• Equity at exit: $135,042

10-year hold

• IRR: 26.1%
• Equity multiple: 7.65×
• Total profit: $279,088
• Equity at exit: $291,223

Cash invested: $41,972 (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 52208

• Home prices YoY: 5.4%
• Active inventory: 31
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $1,546 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$90 /mo · $1,082/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $283

Break-even live

Break-even rent $1,188

Max offer price $149,900

Occupancy floor 77%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,546
Total (2 units)			$1,546

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1307 7th Ave Unit 14 Belle Plaine, IA	1.0	1.0	550	$475	$0.86	43d	1	0.28mi
1307 12th Ave Unit 1409-M03 Belle Plaine, IA	2.0	1.0	800	$850	$1.06	13d	1	0.59mi
1409 12th Ave Apt 1 Belle Plaine, IA	1.0	1.0	650	$650	$1.00	20d	1	0.62mi
1409 12th Ave Apt 2 Belle Plaine, IA	2.0	1.0	700	$850	$1.21	20d	1	0.62mi

Listing history 20 events

1. 2026-06-18
   days on market $149,900 Active 76 DOM
2. 2026-06-17
   days on market $149,900 Active 75 DOM
3. 2026-06-16
   days on market $149,900 Active 74 DOM
4. 2026-06-15
   days on market $149,900 Active 73 DOM
5. 2026-06-13
   days on market $149,900 Active 71 DOM
6. 2026-06-12
   days on market $149,900 Active 70 DOM
7. 2026-06-09
   days on market $149,900 Active 67 DOM
8. 2026-06-08
   days on market $149,900 Active 66 DOM
9. 2026-06-07
   days on market $149,900 Active 65 DOM
10. 2026-06-07
    days on market $149,900 Active 64 DOM
11. 2026-06-04
    days on market $149,900 Active 61 DOM
12. 2026-06-02
    days on market $149,900 Active 60 DOM
13. 2026-06-01
    days on market $149,900 Active 59 DOM
14. 2026-05-31
    days on market $149,900 Active 58 DOM
15. 2026-05-31
    days on market $149,900 Active 57 DOM
16. 2026-04-03
    listed $149,900 Active 502-char remark

    Show marketing remark (503 chars)

    Updated investment opportunity! Updates include the entire bathroom, flooring, kitchen updates, and more! This property is move-in ready, features a steel roof, and there's street parking and off-street parking in the back, off the alley. Vinyl siding, a steel roof, vinyl windows, and so many maintenance-free features. The back unit is rented out for $700/m, and the front unit has just recently been completed with the updates and will be rented out for $750/m. Ready for its new owner and turn-key!.

17. 2026-04-03
    listed $149,900 Active 503-char remark

    Show marketing remark (503 chars)

    Updated investment opportunity! Updates include the entire bathroom, flooring, kitchen updates, and more! This property is move-in ready, features a steel roof, and there's street parking and off-street parking in the back, off the alley. Vinyl siding, a steel roof, vinyl windows, and so many maintenance-free features. The back unit is rented out for $700/m, and the front unit has just recently been completed with the updates and will be rented out for $750/m. Ready for its new owner and turn-key!.

18. 2019-10-11
    soldstatus $27,500
19. 2009-09-23
    soldstatus $207,000
20. 1998-10-30
    soldstatus $16,500

ⓘ 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: $1,082 · $90/mo
• Projected year-2 tax: $1,718 · $143/mo
• Expected delta: +$636/yr (+$53/mo · 58.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 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: $18,552
• − Mortgage interest: −$8,397
• − Property taxes: −$1,082
• − Insurance: −$750
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − Depreciation: −$4,361
• Taxable income: $995
• Est. tax owed @ 24.0%: −$239
• After-tax cash flow: $3,153/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: Belle Plaine Community School District
• NCES district ID: 1904620
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $42,054
• Composite: 59.42/100
• National rank: #927
• State rank: #144 of 289 in IA

Livability — Belle Plaine

• Score: 75/100
• State rank: #215
• US rank: #3962

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

• Census place: Belle Plaine, IA
• Population (ZIP): 2,921

Population outlook (Benton County) Hauer SSP2

• Today (2025): 25,078 people
• By 2030: 24,606 · -1.9%
• By 2040: 23,425 · -6.6%
• By 2050: 21,891 · -12.7%
• By 2075: 19,482 · -22.3%
• By 2100: 17,139 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+33.2) · D 32.8% · R 66.0% · Other 1.3%
• 2008→2024 swing: -37.7pp toward R · 2008: 4.5pp · 2024: -33.2pp
• All cycles: 2024: R+33.2 2020: R+27.5 2016: R+26.0 2012: R+0.6 2008: D+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.07%
• Current HPI: 237.1468
• 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

+808.5% since first listed

5 events — show timeline

• 2026-04-03 Listed $149,900 ICAARMLS
• 2026-04-03 Listed $149,900 CRAAR, CDRMLS
• 2019-10-11 Sold (Public Records) $27,500 Public Records
• 2009-09-23 Sold (Public Records) $207,000 Public Records
• 1998-10-30 Sold (Public Records) $16,500 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,082 · +6.5% YoY. Source: county tax records.