104 Park St · Garwin, IA 50632

$69,500

3 bd · 3.0 ba · 1,277 sqft · SingleFamily public records · 135 Days on market

Built 1920 0.26 ac lot ↓ 10% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• Schools +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This well cared 4 bedroom, 2 bath home is ready to move into, features include a spacious kitchen, formal dining room, 2 bedrooms on the main floor, nice wood deck and a 18X32 detached garage. Call today for your private showing.

Key facts

• Wood deck
• Formal dining room
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• FORMAL DINING ROOM
• WOOD DECK
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#483 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: amenities F, commute F, health & safety F.
• Gmg Community School District (rural): math 50% / reading 68% proficiency, ranked #247 of 289 in IA (top 86%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 8 active listings in the ZIP; 17 units permitted in Tama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($481 loan paydown + $2k appreciation (2.4% local appreciation)).
• Tama County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
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: 1.53% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $164,733
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Park St	0.00mi	4/2.5 (+1)	1,274 (-0%)	0mo	$58,162	$46	92
212 Park St	0.14mi	3/2.0	1,237 (-3%)	4mo	$59,900	$48	81
203 Park St	0.10mi	3/2.0	1,148 (-10%)	14mo	$144,900	$126	63
512 Rider St	0.45mi	3/2.0	1,154 (-10%)	2mo	$155,000	$134	57
208 Rider St	0.20mi	3/1.5	1,092 (-14%)	17mo	$149,900	$137	46
514 Center St	0.47mi	3/1.5	1,122 (-12%)	13mo	$145,000	$129	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.38×
• Total profit: $26,882
• Equity at exit: $28,811

10-year hold

• IRR: 26.5%
• Equity multiple: 4.58×
• Total profit: $69,582
• Equity at exit: $42,590

Cash invested: $19,460 (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 50632

• Home prices YoY: 1.5%
• Active inventory: 8
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$120 /mo · $1,440/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $326

Break-even live

Break-even rent $650

Max offer price $69,500

Occupancy floor 64%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-07
   status Pending
2. 2026-03-02
   price $69,500
3. 2026-02-09
   status Active
4. 2026-01-07
   price $74,500
5. 2025-11-10
   listed $77,500 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: $1,440 · $120/mo
• Projected year-2 tax: $1,440 · $120/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $12,752
• − Mortgage interest: −$3,893
• − Property taxes: −$1,440
• − Insurance: −$348
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$2,022
• Taxable income: $3,009
• Est. tax owed @ 24.0%: −$722
• After-tax cash flow: $3,191/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: Gmg Community School District
• NCES district ID: 1900060
• Math proficiency: 50% ▼ -18.00%
• Reading proficiency: 68% ▼ -8.00%
• Median HH income: $57,443
• Composite: 50.89/100
• National rank: #1789
• State rank: #247 of 289 in IA

Livability — Garwin

• Score: 67/100
• State rank: #483
• US rank: #10764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garwin, IA
• Population (ZIP): 1,204

Population outlook (Tama County) Hauer SSP2

• Today (2025): 16,690 people
• By 2030: 16,217 · -2.8%
• By 2040: 15,207 · -8.9%
• By 2050: 14,186 · -15.0%
• By 2075: 12,228 · -26.7%
• By 2100: 10,386 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 5%
• Common ancestry: Portuguese 8% Lithuanian 2% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Tama

• 2024 margin: Strong R (+26.9) · D 35.7% · R 62.6% · Other 1.7%
• 2008→2024 swing: -39.1pp toward R · 2008: 12.2pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+19.1 2016: R+20.6 2012: D+7.4 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.37%
• Current HPI: 158.948
• 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

-10.3% since first listed

5 events — show timeline

• 2026-04-07 Pending — IAR
• 2026-03-02 Price Changed $69,500 IAR
• 2026-02-09 Relisted — IAR
• 2026-01-07 Price Changed $74,500 IAR
• 2025-11-10 Listed $77,500 IAR

Property tax history

+2.0%/yr

Latest (2025): $1,440 · +12.1% YoY. Source: county tax records.