610 W Montgomery St · Creston, IA 50801

$147,500

4 bd · 1.0 ba · 1,271 sqft · SingleFamily public records · 5 Days on market

Built 1890 7,405 sqft lot Est $105k · 40% over

---

Why this score? — see what drove the D- 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 +13.5/30.0
• Schools +5.5/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD Case #161-228847. Great older 2 story in Creston—lots of space and nice potential. Convenient access to restaurants and conveniences. College town makes great potential investment property as well! School District: Creston Community

Key facts

• Remodeled
• New hvac
• Spacious kitchen

Tags

• REMODELED
• NEW APPLIANCES
• NEW ROOF
• NEW HVAC
• SPACIOUS KITCHEN
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $5 ($60/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 $127k (14.2% below list).
• Recommended offer: $127k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.6% 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.
• Zoned schools: Creston Elementary School (math 60% / reading 49%, grade C, #462 of 616 statewide, top 79%, 410 students, 55% FRL); Creston Middle School (math 65% / reading 74%, grade A, #113 of 246 statewide, top 49%, 291 students, 60% FRL); Creston High School (math 63% / reading 78%, grade B+, #140 of 336 statewide, top 43%, 532 students, 46% FRL).
• Market conditions: 78 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $30k; list at $148k implies a 384% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $126,573 (14.2% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $105,493
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 N Oak St	0.28mi	3/1.0 (-1)	1,320 (+4%)	6mo	$67,000	$51	70
105 N Park St	0.51mi	3/2.0 (-1)	1,270 (-0%)	2mo	$265,000	$209	65
1201 W Jefferson St	0.38mi	3/1.0 (-1)	1,210 (-5%)	6mo	$39,900	$33	64
302 N Elm St	0.31mi	3/1.0 (-1)	1,138 (-10%)	1mo	$75,000	$66	63
213 N Oak St	0.26mi	3/1.5 (-1)	1,402 (+10%)	6mo	$116,000	$83	58
519 New York Ave	0.44mi	3/2.0 (-1)	1,360 (+7%)	2mo	$113,000	$83	57
507 W Prairie St	0.71mi	3/1.0 (-1)	1,296 (+2%)	6mo	$149,750	$116	54
500 N Elm St	0.40mi	3/1.5 (-1)	1,440 (+13%)	2mo	$141,000	$98	50
606 S Elm St	0.57mi	3/2.0 (-1)	1,172 (-8%)	3mo	$165,500	$141	49
506 S Birch St	0.67mi	4/1.0	1,126 (-11%)	5mo	$82,500	$73	45
410 N Pine St	0.48mi	3/1.0 (-1)	1,460 (+15%)	4mo	$73,000	$50	45
1000 N Spruce St St	0.71mi	3/2.0 (-1)	1,382 (+9%)	4mo	$235,000	$170	40

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-23,581
• Equity at exit: $21,993

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-20,110
• Equity at exit: $12,753

Cash invested: $41,300 (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: 78
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$774
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $5

Break-even live

Break-even rent $1,259

Max offer price $147,500

Occupancy floor 95%

Sensitivity live

Price	-10% $88	-5% $47	+0% $5	+5% $-37	+10% $-79
Rent	-10% $-95	-5% $-45	+0% $5	+5% $55	+10% $105
Rate	-1.0pp $79	-0.5pp $42	base $5	+0.5pp $-33	+1.0pp $-72

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-22
   status Pending
2. 2026-04-17
   listed $147,500 Active
3. 2013-05-24
   soldstatus $30,500 242-char remark

   Show marketing remark (242 chars)

   HUD Case #161-228847. Great older 2 story in Creston—lots of space and nice potential. Convenient access to restaurants and conveniences. College town makes great potential investment property as well! School District: Creston Community

4. 2013-01-31
   listed $34,900 242-char remark

   Show marketing remark (242 chars)

   HUD Case #161-228847. Great older 2 story in Creston—lots of space and nice potential. Convenient access to restaurants and conveniences. College town makes great potential investment property as well! School District: Creston Community

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $2,118 · $176/mo
• Expected delta: +$198/yr (+$16/mo · 10.3%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,189
• − Mortgage interest: −$8,262
• − Property taxes: −$1,920
• − Insurance: −$738
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$4,291
• Taxable loss: −$2,452
• Est. tax savings @ 24.0%: +$589
• After-tax cash flow: $648/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

+322.6% since first listed

4 events — show timeline

• 2026-04-22 Pending — IAR
• 2026-04-17 Listed $147,500 IAR
• 2013-05-24 Sold (MLS) $30,500 DMMLS
• 2013-01-31 Listed $34,900 DMMLS

Property tax history

+2.3%/yr

Latest (2025): $1,920 · +19.0% YoY. Source: county tax records.