1918 Warford St · Perry, IA 50220

$145,000

3 bd · 2.0 ba · 1,292 sqft · SingleFamily public records · 51 Days on market

Built 1910 7,000 sqft lot $112/sqft · 20% below area Est $181k · 20% under

---

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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +4.6/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely remodeled and ready to welcome you home! This 3-bedroom, 1-bath home offers a fresh, modern feel with thoughtful updates throughout. You’ll love the open floor plan featuring new wood floors, brand new carpet, and a beautifully updated kitchen with new cabinets and appliances. The spacious layout includes a dedicated laundry room and a bonus attic space—perfect for a home office, playroom, or extra storage. A new addition on the back nearly doubles the living space, giving you plenty of room to spread out and enjoy. Outside, you’ll find great curb appeal with new siding, a charming front porch with cedar accents and new railing, plus a back deck ideal for relaxing or entertaining. The large yard and 1-car garage complete the package. This move-in ready home blends modern updates with comfortable living—come take a look!

Key facts

• Open floor plan
• New siding
• Front porch

Tags

• OPEN FLOOR PLAN
• UPDATED KITCHEN
• DEDICATED LAUNDRY ROOM
• BONUS ATTIC SPACE
• NEW SIDING
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/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 $129k (11.3% below list).
• Recommended offer: $129k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.9% in Perry — 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 73/100 on livability (#273 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Perry Community School District (town): math 51% / reading 59% proficiency, ranked #266 of 289 in IA (top 92%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 49 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,503 units permitted in Dallas County in 2024 (630 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.
• Dallas County population projected at +74% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $145k implies a 458% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,572 (11.3% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.89% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (median comp): $181,172
• List price: $145,000
• Delta: -19.97%
• 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
1924 Lucinda St	0.07mi	4/1.0 (+1)	1,308 (+1%)	3mo	$169,000	$129	83
2223 Warford St	0.18mi	4/2.0 (+1)	1,312 (+2%)	7mo	$217,000	$165	78
2416 Taft St	0.30mi	3/2.0	1,344 (+4%)	3mo	$130,000	$97	77
1718 Otley Ave	0.21mi	3/1.5	1,344 (+4%)	8mo	$196,000	$146	75
2611 Lucinda St	0.43mi	3/2.0	1,217 (-6%)	1mo	$208,000	$171	70
1819 Otley Ave	0.19mi	2/2.0 (-1)	1,443 (+12%)	0mo	$175,500	$122	67
2750 Donna Dr	0.61mi	3/1.5	1,259 (-3%)	4mo	$227,900	$181	62
2423 Iowa St	0.48mi	3/1.5	1,382 (+7%)	6mo	$265,000	$192	58
1812 Evelyn St	0.24mi	2/1.0 (-1)	1,152 (-11%)	5mo	$155,000	$135	58
1811 Iowa St	0.36mi	3/2.0	1,098 (-15%)	2mo	$245,000	$223	56
1306 Evelyn St	0.50mi	2/2.0 (-1)	1,436 (+11%)	2mo	$150,000	$104	51
1904 6th St	0.55mi	2/3.0 (-1)	1,141 (-12%)	10mo	$160,000	$140	38

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-16,084
• Equity at exit: $21,620

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-4,584
• Equity at exit: $12,537

Cash invested: $40,600 (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 50220

• Home prices YoY: -30.2%
• Active inventory: 49
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,286 high
• Mortgage (P&I): −$760
• Tax from tax record: −$78 /mo · $934/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $117

Break-even live

Break-even rent $1,138

Max offer price $145,000

Occupancy floor 86%

Sensitivity live

Price	-10% $199	-5% $158	+0% $117	+5% $76	+10% $35
Rent	-10% $16	-5% $66	+0% $117	+5% $168	+10% $219
Rate	-1.0pp $190	-0.5pp $154	base $117	+0.5pp $79	+1.0pp $41

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 Willis Ave Perry, IA	3.0	2.5	1029	$1,595	$1.55	44d	1	0.16mi
2103 Willis Ave Perry, IA	3.0	2.5	1029	$1,595	$1.55	24d	1	0.19mi
2516 Perry Park Ave Unit A Perry, IA	3.0	1.0	966	$850	$0.88	44d	1	0.56mi
1011 Evelyn St Unit 1 Perry, IA	2.0	2.0	1000	$895	$0.90	15d	1	0.70mi
913 Willis Ave Perry, IA	1.0–2.0	1.0–2.0	882	$1,000	$1.13	15d	1	0.72mi
2908 Kading Rd Perry, IA	3.0	1.0	1008	$920	$0.91	15d	5	0.83mi
2902 Iowa St Unit 6 Perry, IA	2.0	1.0	960	$695	$0.72	15d	1	0.85mi
2902 Iowa St Unit 13 Perry, IA	4.0	2.0	1100	$825	$0.75	15d	1	0.85mi
3307 Mc Kinley St Perry, IA	2.0	2.0	989	$1,150	$1.16	15d	1	1.11mi
2709 1st Ave Perry, IA	2.0	1.5	992	$950	$0.96	44d	1	1.35mi

Listing history 15 events

1. 2026-06-14
   status $145,000 Pending 51 DOM
2. 2026-06-10
   days on market $145,000 Active 51 DOM
3. 2026-06-09
   days on market $145,000 Active 50 DOM
4. 2026-06-08
   days on market $145,000 Active 49 DOM
5. 2026-06-07
   days on market $145,000 Active 48 DOM
6. 2026-06-05
   days on market $145,000 Active 45 DOM
7. 2026-06-03
   pricedays on market $145,000 Active 44 DOM
8. 2026-06-02
   days on market $155,000 Active 43 DOM
9. 2026-06-01
   days on market $155,000 Active 42 DOM
10. 2026-05-31
    days on market $155,000 Active 41 DOM
11. 2026-05-31
    days on market $155,000 Active 40 DOM
12. 2026-04-20
    listed $160,000 Active 866-char remark

    Show marketing remark (866 chars)

    Completely remodeled and ready to welcome you home! This 3-bedroom, 1-bath home offers a fresh, modern feel with thoughtful updates throughout. You’ll love the open floor plan featuring new wood floors, brand new carpet, and a beautifully updated kitchen with new cabinets and appliances. The spacious layout includes a dedicated laundry room and a bonus attic space—perfect for a home office, playroom, or extra storage. A new addition on the back nearly doubles the living space, giving you plenty of room to spread out and enjoy. Outside, you’ll find great curb appeal with new siding, a charming front porch with cedar accents and new railing, plus a back deck ideal for relaxing or entertaining. The large yard and 1-car garage complete the package. This move-in ready home blends modern updates with comfortable living—come take a look!

13. 2021-09-23
    soldstatus $26,000 Closed 32-char remark

    Show marketing remark (32 chars)

    Handyman special. Selling As-Is.

14. 2021-08-24
    status Pending 32-char remark

    Show marketing remark (32 chars)

    Handyman special. Selling As-Is.

15. 2021-08-20
    listed $20,000 Active 32-char remark

    Show marketing remark (32 chars)

    Handyman special. Selling 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: $934 · $78/mo
• Projected year-2 tax: $1,605 · $134/mo
• Expected delta: +$671/yr (+$56/mo · 71.9%)

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

Taxation est. · year 1

• Rental income: $15,429
• − Mortgage interest: −$8,122
• − Property taxes: −$934
• − Insurance: −$725
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,218
• Taxable loss: −$1,039
• Est. tax savings @ 24.0%: +$249
• After-tax cash flow: $1,654/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: Perry Community School District
• NCES district ID: 1922530
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 59% ▲ 3.00%
• Median HH income: $44,382
• Composite: 46.37/100
• National rank: #2460
• State rank: #266 of 289 in IA

Livability — Perry

• Score: 73/100
• State rank: #273
• US rank: #5276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perry, IA
• City population: 9,251
• Population (ZIP): 9,251

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 111,904 people
• By 2030: 127,807 · +14.2%
• By 2040: 160,576 · +43.5%
• By 2050: 194,154 · +73.5%
• By 2075: 271,895 · +143.0%
• By 2100: 326,525 · +191.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 27% Two or more races 8% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Iranian 2% Slovak 2% Portuguese 2%
• Foreign-born: 16% · Canada
• Languages at home: 75% English-only · Spanish 22% German/W. Germanic 1% Arabic 0%

Political lean MEDSL · Dallas

• 2024 margin: Toss-up / Even · D 46.9% · R 51.7% · Other 1.4%
• 2008→2024 swing: +0.8pp no change · 2008: -5.5pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+2.0 2016: R+9.6 2012: R+11.8 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.94%
• Current HPI: 212.8459
• 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

+700.0% since first listed

4 events — show timeline

• 2026-04-20 Listed $160,000 DMMLS
• 2021-09-23 Sold (MLS) $26,000 DMMLS
• 2021-08-24 Pending — DMMLS
• 2021-08-20 Listed $20,000 DMMLS

Property tax history

+12.3%/yr

Latest (2025): $934 · -7.2% YoY. Source: county tax records.