25 Rainbow Dr · Humboldt, IA 50548

$122,900

3 bd · 2.5 ba · 1,845 sqft · SingleFamily public records

Built 1955 $67/sqft · 45% below area Est $169k · 27% under ↓ 3% 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 +20.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• Schools +6.2/10.0
• 1% rule +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1.5 story home has a kitchen, bath with shower, a bedroom that has been turned into a laundry room, a bedroom, and living room on the main floor. The seller would give a $3000 carpet allowance for the living room and the northwest bedroom. The upstairs has a large bedroom with a bath with a sink and a stool with an attached one car garage. The washer, dryer, refrigerator, and stove stay. The basement is not finished but could redone into additional living. There is a furnace that is approximately 10 years old. There is a electric fireplace in the basement wall that stays, a water softener(seller has never used it) and a firepit in the front yard that stays. There is vinyl siding on the house that is approximately 20 years old, asphalt shingles reroofed in 2017. There is a shed out back that is staying. This house is being sold as is.

Key facts

• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).
• Cap rate 7.8% vs local median 3.4% in Humboldt — 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 83/100 on livability (#34 in IA, #1,000 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Humboldt Community School District (town): math 75% / reading 72% proficiency, ranked #92 of 289 in IA (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Taft Elementary School (math 82% / reading 67%, grade A, #131 of 616 statewide, top 27%, 396 students, 42% FRL); Humboldt Middle School (math 74% / reading 71%, grade A, #90 of 246 statewide, top 38%, 440 students, 40% FRL); Humboldt High School (math 72% / reading 75%, grade B+, #108 of 336 statewide, top 33%, 496 students, 36% FRL).
• Market conditions: 64 active listings in the ZIP; 13 units permitted in Humboldt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Humboldt County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,900

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: 1.05% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 7.9

CMA / ARV

• ARV (median comp): $168,992
• List price: $122,900
• Delta: -29.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 10th St N	0.32mi	3/2.0	1,886 (+2%)	2mo	$203,000	$108	78
11 Rainbow Dr	0.06mi	3/1.5	1,918 (+4%)	18mo	$175,000	$91	72
1507 Creekside Dr	0.23mi	3/2.0	1,689 (-8%)	12mo	$354,000	$210	63
512 9th St N	0.54mi	3/2.5	1,730 (-6%)	2mo	$174,900	$101	62
612 5th St. St N	0.74mi	3/2.0	1,892 (+2%)	2mo	$186,500	$99	58
902 10th Street St N	0.30mi	3/1.0	1,697 (-8%)	14mo	$243,000	$143	55
1005 8th Avenue North Ave	0.33mi	4/1.0 (+1)	1,716 (-7%)	15mo	$125,000	$73	50
1114 7th Ave N	0.38mi	3/1.5	1,578 (-14%)	6mo	$172,000	$109	49
607 8th St N	0.58mi	3/2.0	1,608 (-13%)	7mo	$135,000	$84	44
409 8th St. St S	0.68mi	4/2.0 (+1)	1,680 (-9%)	5mo	$143,500	$85	42
1906 W River Dr	0.59mi	3/3.0	2,105 (+14%)	8mo	$324,900	$154	40
1911 W River Dr	0.61mi	3/2.0	2,092 (+13%)	14mo	$525,000	$251	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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-9,870
• Equity at exit: $18,325

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $4,425
• Equity at exit: $10,626

Cash invested: $34,412 (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 50548

• Home prices YoY: -20.0%
• Active inventory: 64
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $157

Break-even live

Break-even rent $1,098

Max offer price $122,900

Occupancy floor 83%

Sensitivity live

Price	-10% $227	-5% $192	+0% $157	+5% $122	+10% $88
Rent	-10% $55	-5% $106	+0% $157	+5% $208	+10% $260
Rate	-1.0pp $219	-0.5pp $188	base $157	+0.5pp $125	+1.0pp $93

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   pricedays on marketlisting id $122,900 Pending
2. 2026-05-19
   status Pending 851-char remark

   Show marketing remark (851 chars)

   This 1.5 story home has a kitchen, bath with shower, a bedroom that has been turned into a laundry room, a bedroom, and living room on the main floor. The seller would give a $3000 carpet allowance for the living room and the northwest bedroom. The upstairs has a large bedroom with a bath with a sink and a stool with an attached one car garage. The washer, dryer, refrigerator, and stove stay. The basement is not finished but could redone into additional living. There is a furnace that is approximately 10 years old. There is a electric fireplace in the basement wall that stays, a water softener(seller has never used it) and a firepit in the front yard that stays. There is vinyl siding on the house that is approximately 20 years old, asphalt shingles reroofed in 2017. There is a shed out back that is staying. This house is being sold as is.

3. 2026-03-02
   price $119,900 851-char remark

   Show marketing remark (851 chars)

   This 1.5 story home has a kitchen, bath with shower, a bedroom that has been turned into a laundry room, a bedroom, and living room on the main floor. The seller would give a $3000 carpet allowance for the living room and the northwest bedroom. The upstairs has a large bedroom with a bath with a sink and a stool with an attached one car garage. The washer, dryer, refrigerator, and stove stay. The basement is not finished but could redone into additional living. There is a furnace that is approximately 10 years old. There is a electric fireplace in the basement wall that stays, a water softener(seller has never used it) and a firepit in the front yard that stays. There is vinyl siding on the house that is approximately 20 years old, asphalt shingles reroofed in 2017. There is a shed out back that is staying. This house is being sold as is.

4. 2026-02-11
   listed $122,900 Active 851-char remark

   Show marketing remark (851 chars)

   This 1.5 story home has a kitchen, bath with shower, a bedroom that has been turned into a laundry room, a bedroom, and living room on the main floor. The seller would give a $3000 carpet allowance for the living room and the northwest bedroom. The upstairs has a large bedroom with a bath with a sink and a stool with an attached one car garage. The washer, dryer, refrigerator, and stove stay. The basement is not finished but could redone into additional living. There is a furnace that is approximately 10 years old. There is a electric fireplace in the basement wall that stays, a water softener(seller has never used it) and a firepit in the front yard that stays. There is vinyl siding on the house that is approximately 20 years old, asphalt shingles reroofed in 2017. There is a shed out back that is staying. This house is being sold as is.

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $2,056 · $171/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 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: $15,559
• − Mortgage interest: −$6,884
• − Property taxes: −$2,056
• − Insurance: −$614
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$3,575
• Taxable loss: −$61
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $1,901/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: Humboldt Community School District
• NCES district ID: 1914370
• Math proficiency: 75% ▼ -5.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $48,318
• Composite: 62.13/100
• National rank: #707
• State rank: #92 of 289 in IA

Livability — Humboldt

• Score: 83/100
• State rank: #34
• US rank: #1000

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Humboldt, IA
• City population: 5,482
• Population (ZIP): 5,482

Population outlook (Humboldt County) Hauer SSP2

• Today (2025): 9,265 people
• By 2030: 9,141 · -1.3%
• By 2040: 8,904 · -3.9%
• By 2050: 8,448 · -8.8%
• By 2075: 7,742 · -16.4%
• By 2100: 6,414 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Portuguese 14% Iranian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Humboldt

• 2024 margin: Solid R (+50.0) · D 24.4% · R 74.4% · Other 1.2%
• 2008→2024 swing: -35.7pp toward R · 2008: -14.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+44.6 2016: R+46.0 2012: R+22.1 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.69%
• Current HPI: 206.5373
• 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

-3.2% since first listed

7 events — show timeline

• 2026-06-18 Listing Removed — DMMLS
• 2026-06-16 Sold (MLS) $119,000 IAR
• 2026-06-16 Sold (MLS) $119,000 DMMLS
• 2026-05-19 Pending — IAR
• 2026-05-15 Listed $122,900 DMMLS
• 2026-03-02 Price Changed $119,900 IAR
• 2026-02-11 Listed $122,900 IAR

Property tax history

+4.2%/yr

Latest (2025): $2,056 · +0.4% YoY. Source: county tax records.