1007 Central Ave

Bedford, IA 50833

$189,900D

4 bd · 2.0 ba · 2,086 sqft · Built 1921 · SingleFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,241/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$349
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $-365/mo
• Annual: $-4,374/yr
• Cap rate: 3.99%
• Cash-on-cash: -8.23%
• DSCR: 0.63
• 1% rule: 0.65%
• Cash to close: $53,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-365 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (33.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (34.6% below list).
• It's been on market 104 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (34.6% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Location reads 82/100 on livability (#50 in IA, #1,245 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Bedford Community School District (rural): math 81% / reading 85% proficiency, ranked #23 of 289 in IA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Bedford Elementary School (math 87% / reading 87%, grade A+, #16 of 616 statewide, top 3%, 292 students, 45% FRL); Bedford High School (math 77% / reading 87%, grade A, #20 of 336 statewide, top 7%, 243 students, 35% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; 4 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 12y 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 $72k; list at $190k implies a 164% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.