402 E Union St · Edgewood, IA 52042

$99,900

3 bd · 1.0 ba · 1,832 sqft · SingleFamily public records · 15 Days on market

Built 1899 1.89 ac lot

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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 +20.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +6.4/10.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits! This property offers a chance to build equity and make it your own. Being sold as-is. With a little vision and work, this could be a great home or investment!

Key facts

• 1.89 acre lot
• 2 parking spots
• Built 1899

Property features AI

Finance

• Financial info: Annual tax amount listed (not included per instructions)

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Vinyl siding; Built with block basement
• Exterior features: Shingle roof; Lot size about 1.89 acres; Zoned A-1

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Has cooling (type: Other)
• Interior features: No fireplace; Block basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#413 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: health & safety C-, employment D+, amenities F.
• Edgewood-Colesburg Community School District (rural): math 68% / reading 65% proficiency, ranked #178 of 289 in IA (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 48 units permitted in Clayton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Clayton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.14% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $221,672
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 N Chestnut St	0.49mi	3/2.0	1,900 (+4%)	24mo	$230,000	$121	47
302 N Chestnut St	0.50mi	3/1.5	1,600 (-13%)	18mo	$178,000	$111	39
209 Woods Edge Dr	0.64mi	3/2.0	1,564 (-15%)	6mo	$265,000	$169	37

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 3.23×
• Total profit: $62,359
• Equity at exit: $89,998

10-year hold

• IRR: 24.5%
• Equity multiple: 7.35×
• Total profit: $177,581
• Equity at exit: $194,084

Cash invested: $27,972 (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 52042

• Home prices YoY: 8.4%
• Active inventory: 3
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,141 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$212 /mo · $2,548/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $124

Break-even live

Break-even rent $985

Max offer price $99,900

Occupancy floor 84%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-07
   statusdays on market $99,900 Pending 15 DOM
2. 2026-06-04
   days on market $99,900 Active 14 DOM
3. 2026-06-02
   days on market $99,900 Active 13 DOM
4. 2026-06-01
   days on market $99,900 Active 12 DOM
5. 2026-05-31
   days on market $99,900 Active 11 DOM
6. 2026-05-31
   days on market $99,900 Active 10 DOM
7. 2026-05-20
   listed $99,900 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: $2,548 · $212/mo
• Projected year-2 tax: $2,548 · $212/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 ≥99°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: $13,695
• − Mortgage interest: −$5,596
• − Property taxes: −$2,548
• − Insurance: −$500
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$2,906
• Taxable loss: −$46
• Est. tax savings @ 24.0%: +$11
• After-tax cash flow: $1,496/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: Edgewood-Colesburg Community School District
• NCES district ID: 1910500
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 65% ▲ 8.00%
• Median HH income: $52,197
• Composite: 56.7/100
• National rank: #1128
• State rank: #178 of 289 in IA

Livability — Edgewood

• Score: 69/100
• State rank: #413
• US rank: #8827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, IA
• Population (ZIP): 1,898

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 16,656 people
• By 2030: 15,986 · -4.0%
• By 2040: 14,554 · -12.6%
• By 2050: 13,187 · -20.8%
• By 2075: 11,131 · -33.2%
• By 2100: 9,733 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Polish 19% Portuguese 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 74% English-only · German/W. Germanic 26% Other Indo-European 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid R (+34.5) · D 32.2% · R 66.7% · Other 1.2%
• 2008→2024 swing: -51.7pp toward R · 2008: 17.2pp · 2024: -34.5pp
• All cycles: 2024: R+34.5 2020: R+28.8 2016: R+22.8 2012: D+6.9 2008: D+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.12%
• Current HPI: 283.92
• 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

1 event — show timeline

• 2026-05-20 Listed $99,900 NEIRBR as distributed by MLS GRID

Property tax history

+4.9%/yr

Latest (2025): $2,548 · +27.5% YoY. Source: county tax records.