217 N Main St · Halbur, IA 51444

$129,900

4 bd · 1.5 ba · 2,046 sqft · SingleFamily public records · 307 Days on market

Built 1915 0.29 ac lot $63/sqft · 46% below area Est $243k · 46% under

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• Appreciation +6.1/10.0
• Schools +6.1/10.0
• 1% rule +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Perfect home for a growing family on a larger corner lot. 5 roomy bedrooms, 2 bathe areas. Newer furnace, A/C, roof & electric service. All freshly painted with gorgeous wood throughout. Main floor laundry.

Key facts

• Newer furnace
• Newer roof
• Newer a/c

Tags

• CORNER LOT
• NEWER FURNACE
• NEWER A/C
• NEWER ROOF
• NEWER ELECTRIC SERVICE
• MAIN FLOOR LAUNDRY

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/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 $124k (4.2% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#559 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Carroll Community School District (town): math 72% / reading 72% proficiency, ranked #113 of 289 in IA (top 39%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 2 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($898 loan paydown + $3k appreciation (2.2% local appreciation)).
• Carroll County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 307 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $130k implies a 441% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 307 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 1915 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.96% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (median comp): $242,716
• List price: $129,900
• Delta: -46.48%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.62×
• Total profit: $22,378
• Equity at exit: $52,481

10-year hold

• IRR: 14.0%
• Equity multiple: 2.91×
• Total profit: $69,480
• Equity at exit: $76,541

Cash invested: $36,372 (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 51444

• Home prices YoY: 1.5%
• Active inventory: 2
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$54 /mo · $642/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $194

Break-even live

Break-even rent $999

Max offer price $129,900

Occupancy floor 79%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $129,900 Active 307 DOM
2. 2026-06-17
   days on market $129,900 Active 306 DOM
3. 2026-06-16
   days on market $129,900 Active 305 DOM
4. 2026-06-15
   days on market $129,900 Active 304 DOM
5. 2026-06-13
   days on market $129,900 Active 302 DOM
6. 2026-06-12
   days on market $129,900 Active 301 DOM
7. 2026-06-09
   days on market $129,900 Active 298 DOM
8. 2026-06-08
   days on market $129,900 Active 297 DOM
9. 2026-06-07
   days on market $129,900 Active 296 DOM
10. 2026-06-07
    days on market $129,900 Active 295 DOM
11. 2026-06-04
    days on market $129,900 Active 292 DOM
12. 2026-06-02
    days on market $129,900 Active 291 DOM
13. 2026-06-01
    days on market $129,900 Active 290 DOM
14. 2026-05-31
    days on market $129,900 Active 289 DOM
15. 2026-05-31
    days on market $129,900 Active 288 DOM
16. 2026-02-12
    status Active 212-char remark

    Show marketing remark (212 chars)

    Perfect home for a growing family on a larger corner lot. 5 roomy bedrooms, 2 bathe areas. Newer furnace, A/C, roof & electric service. All freshly painted with gorgeous wood throughout. Main floor laundry.

17. 2026-02-12
    price $129,900 212-char remark

    Show marketing remark (212 chars)

    Perfect home for a growing family on a larger corner lot. 5 roomy bedrooms, 2 bathe areas. Newer furnace, A/C, roof & electric service. All freshly painted with gorgeous wood throughout. Main floor laundry.

18. 2025-11-06
    price $139,900 212-char remark

    Show marketing remark (212 chars)

    Perfect home for a growing family on a larger corner lot. 5 roomy bedrooms, 2 bathe areas. Newer furnace, A/C, roof & electric service. All freshly painted with gorgeous wood throughout. Main floor laundry.

19. 2025-08-11
    listed $149,900 Active 212-char remark

    Show marketing remark (212 chars)

    Perfect home for a growing family on a larger corner lot. 5 roomy bedrooms, 2 bathe areas. Newer furnace, A/C, roof & electric service. All freshly painted with gorgeous wood throughout. Main floor laundry.

20. 2015-05-11
    soldstatus $24,000 336-char remark

    Show marketing remark (336 chars)

    This historic Victorian home has a world of potential, but it needs some love. The home features fine woodwork and paneling. The door opens to a spiral stairway to the 2nd floor. The bedrooms are all large with walk-in closets. There is a large kitchen, large dining room, living room, and family room. There is also an attached garage.

21. 2014-10-30
    listed $29,900 336-char remark

    Show marketing remark (336 chars)

    This historic Victorian home has a world of potential, but it needs some love. The home features fine woodwork and paneling. The door opens to a spiral stairway to the 2nd floor. The bedrooms are all large with walk-in closets. There is a large kitchen, large dining room, living room, and family room. There is also an attached garage.

ⓘ 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: $642 · $54/mo
• Projected year-2 tax: $1,341 · $112/mo
• Expected delta: +$699/yr (+$58/mo · 108.8%)

ⓘ 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 ≥102°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: $14,928
• − Mortgage interest: −$7,276
• − Property taxes: −$642
• − Insurance: −$650
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$3,779
• Taxable income: $192
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $2,281/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: Carroll Community School District
• NCES district ID: 1906330
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $50,124
• Composite: 61.04/100
• National rank: #793
• State rank: #113 of 289 in IA

Livability — Halbur

• Score: 65/100
• State rank: #559
• US rank: #12609

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Halbur, IA
• Population (ZIP): 307

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,745 people
• By 2030: 19,244 · -2.5%
• By 2040: 18,251 · -7.6%
• By 2050: 17,223 · -12.8%
• By 2075: 16,258 · -17.7%
• By 2100: 15,591 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Iranian 5% Italian 3%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+41.9) · D 28.4% · R 70.3% · Other 1.4%
• 2008→2024 swing: -45.6pp toward R · 2008: 3.6pp · 2024: -41.9pp
• All cycles: 2024: R+41.9 2020: R+37.8 2016: R+31.8 2012: R+6.3 2008: D+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 148.2415
• 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

+334.4% since first listed

6 events — show timeline

• 2026-02-12 Relisted — IAR
• 2026-02-12 Price Changed $129,900 IAR
• 2025-11-06 Price Changed $139,900 IAR
• 2025-08-11 Listed $149,900 IAR
• 2015-05-11 Sold (MLS) $24,000 IAR
• 2014-10-30 Listed $29,900 IAR

Property tax history

+0.6%/yr

Latest (2025): $642 · +345.8% YoY. Source: county tax records.