507 W Howard St · Creston, IA 50801

$130,000

5 bd · 2.5 ba · 2,038 sqft · SingleFamily public records · 73 Days on market

Built 1917 7,405 sqft lot $64/sqft · at area comps Est $129k · at est. ↓ 4% since listing

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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 +22.2/30.0
• ARV discount +7.2/15.0
• DSCR +7.1/10.0
• Schools +5.5/10.0
• 1% rule +5.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Traditional Two-Story home shows off the craftsmanship of early 1900 with custom built-ins and woodwork - in excellent condition throughout the home. It starts at the Entry foyer with open staircase and divided light French doors into the large Living Room with tons of natural light. Formal dining room with wood-trimmed window seat and craftsmen display cabinets. Solid wood interior doors and custom built wardrobes and closets. Master Bedroom, Full Bathroom and Laundry Room on the Main Level. Kitchen with eating area and access to Sunroom porch. Upper Level Bathroom with 4 additional Bedrooms and large closets - notice beautiful hardwood below the carpet! The full basement with plumbing - sink, toilet & shower and Exit to backyard and Garage. New Roof 2023. New electric service and Panel updated 2026.A home full of possibilities and warmth - and a history that could be brought to life again. Located in central Creston and a short walk to Uptown parades and activities!

Key facts

• Open staircase
• Entry foyer
• Natural light

Tags

• ENTRY FOYER
• OPEN STAIRCASE
• DIVIDED LIGHT FRENCH DOORS
• LARGE LIVING ROOM
• NATURAL LIGHT
• WOOD-TRIMMED WINDOW SEAT

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $130k.

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 ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.0% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 77 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($122k) 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.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1917 — 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 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: 1.01% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (median comp): $129,250
• List price: $130,000
• Delta: 0.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Levy St	0.18mi	5/1.0	1,956 (-4%)	14mo	$84,000	$43	67
102 N Sycamore St	0.25mi	4/1.5 (-1)	1,896 (-7%)	2mo	$86,000	$45	66
511 W Adams St	0.25mi	4/1.5 (-1)	2,086 (+2%)	13mo	$32,000	$15	64
220 N Walnut St	0.38mi	6/2.0 (+1)	2,128 (+4%)	6mo	$200	—	63
402 N Pine St	0.29mi	4/2.0 (-1)	1,916 (-6%)	9mo	$165,000	$86	62
400 N Birch St	0.42mi	4/2.0 (-1)	1,798 (-12%)	1mo	$140,000	$78	52
1010 W Montgomery St	0.45mi	4/1.5 (-1)	1,776 (-13%)	2mo	$168,000	$95	47
300 N Vine St	0.49mi	4/2.0 (-1)	2,208 (+8%)	11mo	$125,000	$57	47
1101 N Walnut St	0.67mi	4/3.0 (-1)	1,848 (-9%)	2mo	$289,000	$156	45
1100 W Jefferson St	0.54mi	4/2.0 (-1)	1,802 (-12%)	5mo	$260,000	$144	44
1022 Crest Dr	0.68mi	4/2.0 (-1)	2,128 (+4%)	13mo	$234,000	$110	43
1100 N Division St	0.56mi	4/3.0 (-1)	1,774 (-13%)	12mo	$389,900	$220	36

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-7,640
• Equity at exit: $19,383

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $10,569
• Equity at exit: $11,240

Cash invested: $36,400 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 77
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$91 /mo · $1,096/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $211

Break-even live

Break-even rent $1,047

Max offer price $130,000

Occupancy floor 79%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $130,000 Active 73 DOM
2. 2026-06-17
   days on market $130,000 Active 72 DOM
3. 2026-06-16
   days on market $130,000 Active 71 DOM
4. 2026-06-16
   price $130,000 Active 70 DOM
5. 2026-06-15
   days on market $135,000 Active 70 DOM
6. 2026-06-13
   days on market $135,000 Active 68 DOM
7. 2026-06-12
   days on market $135,000 Active 67 DOM
8. 2026-06-09
   days on market $135,000 Active 64 DOM
9. 2026-06-08
   days on market $135,000 Active 63 DOM
10. 2026-06-07
    days on market $135,000 Active 62 DOM
11. 2026-06-07
    days on market $135,000 Active 61 DOM
12. 2026-06-04
    days on market $135,000 Active 58 DOM
13. 2026-06-02
    days on market $135,000 Active 57 DOM
14. 2026-06-01
    days on market $135,000 Active 56 DOM
15. 2026-05-31
    days on market $135,000 Active 55 DOM
16. 2026-05-31
    days on market $135,000 Active 54 DOM
17. 2026-04-06
    listed $135,000 Active 994-char remark

    Show marketing remark (994 chars)

    This Traditional Two-Story home shows off the craftsmanship of early 1900 with custom built-ins and woodwork - in excellent condition throughout the home. It starts at the Entry foyer with open staircase and divided light French doors into the large Living Room with tons of natural light. Formal dining room with wood-trimmed window seat and craftsmen display cabinets. Solid wood interior doors and custom built wardrobes and closets. Master Bedroom, Full Bathroom and Laundry Room on the Main Level. Kitchen with eating area and access to Sunroom porch. Upper Level Bathroom with 4 additional Bedrooms and large closets - notice beautiful hardwood below the carpet! The full basement with plumbing - sink, toilet & shower and Exit to backyard and Garage. New Roof 2023. New electric service and Panel updated 2026.A home full of possibilities and warmth - and a history that could be brought to life again. Located in central Creston and a short walk to Uptown parades and activities!

18. 2025-12-17
    listed $140,000 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: $1,096 · $91/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$472/yr (+$39/mo · 43.1%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,773
• − Mortgage interest: −$7,282
• − Property taxes: −$1,096
• − Insurance: −$650
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$3,782
• Taxable income: $440
• Est. tax owed @ 24.0%: −$106
• After-tax cash flow: $2,429/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

-3.6% since first listed

2 events — show timeline

• 2026-04-06 Listed $135,000 IAR
• 2025-12-17 Listed $140,000 IAR

Property tax history

+3.5%/yr

Latest (2018): $1,096 · -1.8% YoY. Source: county tax records.