521 New York Ave · Creston, IA 50801

$129,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 115 Days on market

Built 1932 5,663 sqft lot $113/sqft · 55% above area

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Why this score? — see what drove the D+ 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 +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.5/10.0
• 1% rule +4.2/10.0
• 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

Large 2 Story Home has 3BR and 1 full bath. Walking distance to grocery stores and local restaurants. Call for your showing today.

Key facts

• 5,663 sq ft lot
• Built 1932
• Listed 115 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $110 ($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 $119k (7.9% below list).
• Recommended offer: $117k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (median comp): $83,464
• List price: $129,000
• Delta: 54.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Russell St	0.26mi	3/2.0	1,144 (0%)	7mo	$140,000	$122	78
103 N Sumner Ave	0.42mi	2/— (-1)	1,146 (+0%)	2mo	$11,000	$10	73
606 S Elm St	0.38mi	3/2.0	1,172 (+2%)	3mo	$165,500	$141	72
411 New York Ave	0.19mi	2/1.0 (-1)	1,085 (-5%)	7mo	$57,000	$53	72
302 N Elm St	0.68mi	3/1.0	1,138 (-0%)	1mo	$75,000	$66	67
700 Hickory St	0.21mi	2/1.0 (-1)	1,260 (+10%)	3mo	$143,650	$114	66
1201 W Jefferson St	0.43mi	3/1.0	1,210 (+6%)	6mo	$39,900	$33	65
506 S Birch St	0.63mi	4/1.0 (+1)	1,126 (-2%)	5mo	$82,500	$73	59
905 W Montgomery St	0.47mi	2/1.0 (-1)	1,018 (-11%)	2mo	$181,500	$178	53
605 S Pine St	0.53mi	3/2.0	1,240 (+8%)	8mo	$183,000	$148	51
105 N Park St	0.60mi	3/2.0	1,270 (+11%)	2mo	$265,000	$209	48
303 W Mills St	0.66mi	2/1.0 (-1)	997 (-13%)	1mo	$60,000	$60	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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-13,949
• Equity at exit: $19,234

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-3,249
• Equity at exit: $11,154

Cash invested: $36,120 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$98 /mo · $1,182/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $110

Break-even live

Break-even rent $1,049

Max offer price $129,000

Occupancy floor 86%

Sensitivity live

Price	-10% $183	-5% $146	+0% $110	+5% $73	+10% $36
Rent	-10% $16	-5% $63	+0% $110	+5% $156	+10% $203
Rate	-1.0pp $174	-0.5pp $142	base $110	+0.5pp $76	+1.0pp $42

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $129,000 Active 115 DOM
2. 2026-06-21
   days on market $129,000 Active 114 DOM
3. 2026-06-18
   days on market $129,000 Active 112 DOM
4. 2026-06-17
   days on market $129,000 Active 111 DOM
5. 2026-06-16
   days on market $129,000 Active 110 DOM
6. 2026-06-15
   days on market $129,000 Active 109 DOM
7. 2026-06-13
   days on market $129,000 Active 107 DOM
8. 2026-06-12
   days on market $129,000 Active 106 DOM
9. 2026-06-09
   days on market $129,000 Active 103 DOM
10. 2026-06-08
    days on market $129,000 Active 102 DOM
11. 2026-06-07
    days on market $129,000 Active 101 DOM
12. 2026-06-07
    days on market $129,000 Active 100 DOM
13. 2026-06-04
    days on market $129,000 Active 97 DOM
14. 2026-06-02
    days on market $129,000 Active 96 DOM
15. 2026-06-01
    days on market $129,000 Active 95 DOM
16. 2026-05-31
    days on market $129,000 Active 94 DOM
17. 2026-05-31
    days on market $129,000 Active 93 DOM
18. 2026-04-06
    price $129,000 130-char remark

    Show marketing remark (130 chars)

    Large 2 Story Home has 3BR and 1 full bath. Walking distance to grocery stores and local restaurants. Call for your showing today.

19. 2026-02-26
    listed $139,000 Active 130-char remark

    Show marketing remark (130 chars)

    Large 2 Story Home has 3BR and 1 full bath. Walking distance to grocery stores and local restaurants. Call for your showing today.

20. 2022-07-18
    soldstatus $120,000

ⓘ 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: $1,182 · $98/mo
• Projected year-2 tax: $1,604 · $134/mo
• Expected delta: +$422/yr (+$35/mo · 35.7%)

ⓘ 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 ≥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: $14,252
• − Mortgage interest: −$7,226
• − Property taxes: −$1,182
• − Insurance: −$645
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,753
• Taxable loss: −$834
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $1,514/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

+7.5% since first listed

3 events — show timeline

• 2026-04-06 Price Changed $129,000 IAR
• 2026-02-26 Listed $139,000 IAR
• 2022-07-18 Sold (Public Records) $120,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,182 · +21.4% YoY. Source: county tax records.