505 N Chestnut St · Creston, IA 50801

$90,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 3 Days on market

Built 1910 8,276 sqft lot $94/sqft · 5% below area Est $121k · 26% under

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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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.5/10.0
• Schools +5.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a L@@K at this 2 bedroom, 1 bathroom home with nice detached 2 car heated garage. Updated electric, newer furnace and roof. Situated in north Creston with plenty of shade. Showings require a 24 hour notice, so call now to set up your private showing!

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1910

Property features AI

Exterior

• Parking: Detached heated garage with garage door opener, storage space; Gravel and concrete parking surfaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Single-family residence
• Construction: Frame construction with HardiPlank-type and metal siding
• Exterior features: Privacy fencing; Shingle roof; Publicly maintained city street frontage; Lot approximately 0.19 acres (60 x 140); Residential single-family zoning

Interior

• Kitchen: Range; Exhaust fan; Dishwasher
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central air
• Interior features: Blinds; Double-pane windows; Window screens; Basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($945 rent vs $90k).
• Cap rate 7.8% vs local median 4.6% in Creston — 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 81/100 on livability (#76 in IA, #1,607 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• Creston Community School District (town): math 63% / reading 69% proficiency, ranked #195 of 289 in IA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 78 active listings in the ZIP; 5 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.

Risks & watch-outs

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

Recommended offer $90,000

Questions for the listing agent

1. Built in 1910 — 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 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?
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: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• GRM: 7.9

CMA / ARV

• ARV (median comp): $121,147
• List price: $90,000
• Delta: -25.71%
• 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
605 N Cedar St	0.12mi	2/2.0	960 (0%)	0mo	$163,000	$170	90
208 N Cherry St	0.32mi	3/1.0 (+1)	989 (+3%)	0mo	$50,000	$51	75
304 N Birch St	0.38mi	2/1.0	880 (-8%)	2mo	$20,000	$23	67
303 W Mills St	0.65mi	2/1.0	997 (+4%)	1mo	$60,000	$60	62
907 N Walnut St	0.52mi	2/2.0	988 (+3%)	7mo	$95,000	$96	62
619 N Walnut St	0.42mi	3/1.0 (+1)	1,036 (+8%)	4mo	$87,500	$84	59
606 N Elm St	0.60mi	3/1.0 (+1)	1,004 (+5%)	1mo	$115,000	$115	58
500 Levy St	0.73mi	3/1.0 (+1)	960 (0%)	4mo	$78,000	$81	58
505 N Walnut St	0.38mi	3/1.5 (+1)	1,040 (+8%)	4mo	$96,000	$92	58
309 N Birch St	0.35mi	2/1.0	1,088 (+13%)	6mo	$79,000	$73	56
707 N Birch St	0.40mi	3/1.0 (+1)	1,064 (+11%)	3mo	$133,000	$125	56
405 S Vine St	0.69mi	2/1.0	826 (-14%)	3mo	$86,000	$104	42

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-7,362
• Equity at exit: $13,419

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $2,947
• Equity at exit: $7,782

Cash invested: $25,200 (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 50801

• Home prices YoY: -5.9%
• Active inventory: 78
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $945 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $113

Break-even live

Break-even rent $801

Max offer price $90,000

Occupancy floor 83%

Sensitivity live

Price	-10% $164	-5% $139	+0% $113	+5% $88	+10% $62
Rent	-10% $38	-5% $76	+0% $113	+5% $150	+10% $188
Rate	-1.0pp $158	-0.5pp $136	base $113	+0.5pp $90	+1.0pp $66

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-10
   status Pending 471-char remark
2. 2026-05-07
   listed $90,000 Active 471-char remark
3. 2021-11-29
   soldstatus $70,000 255-char remark

   Show marketing remark (255 chars)

   Take a L@@K at this 2 bedroom, 1 bathroom home with nice detached 2 car heated garage. Updated electric, newer furnace and roof. Situated in north Creston with plenty of shade. Showings require a 24 hour notice, so call now to set up your private showing!

4. 2021-11-29
   soldstatus $70,000

   Show marketing remark (255 chars)

   Take a L@@K at this 2 bedroom, 1 bathroom home with nice detached 2 car heated garage. Updated electric, newer furnace and roof. Situated in north Creston with plenty of shade. Showings require a 24 hour notice, so call now to set up your private showing!

5. 2021-09-28
   listed $79,000 255-char remark

   Show marketing remark (255 chars)

   Take a L@@K at this 2 bedroom, 1 bathroom home with nice detached 2 car heated garage. Updated electric, newer furnace and roof. Situated in north Creston with plenty of shade. Showings require a 24 hour notice, so call now to set up your private showing!

6. 2017-02-10
   soldstatus $54,875
7. 2017-02-07
   soldstatus $55,000

   Show marketing remark (169 chars)

   1 Story 2 bedroom, 1 bath home with newer kitchen cabinets. new counter top, main floor laundry, new hot water heater, newer furnace, double detached garage with heater.

8. 2016-05-21
   listed $56,000

   Show marketing remark (169 chars)

   1 Story 2 bedroom, 1 bath home with newer kitchen cabinets. new counter top, main floor laundry, new hot water heater, newer furnace, double detached garage with heater.

9. 2013-12-19
   soldstatus $45,000

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $1,484 · $124/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 3/10 Moderate 7 d/yr ≥103°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: $11,335
• − Mortgage interest: −$5,041
• − Property taxes: −$1,484
• − Insurance: −$450
• − Repairs & maintenance: −$907
• − Management: −$907
• − Depreciation: −$2,618
• Taxable loss: −$73
• Est. tax savings @ 24.0%: +$17
• After-tax cash flow: $1,374/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: Creston Community School District
• NCES district ID: 1908310
• Math proficiency: 63% ▬ 0.00%
• Reading proficiency: 69% ▲ 4.00%
• Median HH income: $42,292
• Composite: 55.29/100
• National rank: #1263
• State rank: #195 of 289 in IA

Livability — Creston

• Score: 81/100
• State rank: #76
• US rank: #1607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, IA
• Population (ZIP): 9,027

Population outlook (Union County) Hauer SSP2

• Today (2025): 12,536 people
• By 2030: 12,561 · +0.2%
• By 2040: 12,583 · +0.4%
• By 2050: 12,543 · +0.1%
• By 2075: 12,816 · +2.2%
• By 2100: 12,754 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+36.2) · D 31.2% · R 67.4% · Other 1.3%
• 2008→2024 swing: -39.9pp toward R · 2008: 3.7pp · 2024: -36.2pp
• All cycles: 2024: R+36.2 2020: R+31.5 2016: R+27.8 2012: D+3.9 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.71%
• Current HPI: 217.2057
• 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

+88.9% since first listed

11 events — show timeline

• 2026-06-03 Sold (Public Records) $85,000 Public Records
• 2026-06-03 Sold (MLS) $85,000 IAR
• 2026-05-10 Pending — IAR
• 2026-05-07 Listed $90,000 IAR
• 2021-11-29 Sold (Public Records) $70,000 Public Records
• 2021-11-29 Sold (MLS) $70,000 IAR
• 2021-09-28 Listed $79,000 IAR
• 2017-02-10 Sold (Public Records) $54,875 Public Records
• 2017-02-07 Sold (MLS) $55,000 IAR
• 2016-05-21 Listed $56,000 IAR
• 2013-12-19 Sold (Public Records) $45,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,484 · +24.1% YoY. Source: county tax records.