406 Washington St · Victor, IA 52347

$99,900

4 bd · 1.5 ba · 2,094 sqft · SingleFamily public records · 70 Days on market

Built 1917 0.31 ac lot

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• Schools +5.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Check out this affordable 4-bedroom, 1.5-bath home offering space and potential on a generous . 31 acre corner lot in Victor. The sale includes two parcels, with the adjacent lot at 408 Washington Street included. The home features an enclosed front porch, back deck, and a detached two-stall garage. While the home is older and could benefit from some updates, the kitchen and upstairs bathroom have been updated more recently, as well as the dining-room windows. A great option for buyers looking for a larger home and yard at an approachable price! Contact Logan to schedule a private showing!

Key facts

• Two parcels
• Back deck
• Updated kitchen

Tags

• CORNER LOT
• TWO PARCELS
• ENCLOSED FRONT PORCH
• BACK DECK
• DETACHED TWO-STALL GARAGE
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/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: $94k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#276 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• H-L-V Community School District (rural): math 62% / reading 65% proficiency, ranked #208 of 289 in IA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 16 active listings in the ZIP; 12 units permitted in Iowa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($691 loan paydown + $3k appreciation (2.6% local appreciation)).
• Iowa County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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 A-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. 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: 1.30% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.58%
• DSCR: 1.60
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $230,340
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Washington St	0.00mi	4/1.5	2,094 (0%)	0mo	$95,000	$45	100
906 4th St	0.17mi	4/2.0	2,280 (+9%)	2mo	$250,000	$110	74
112 Court St	0.41mi	4/2.0	2,276 (+9%)	1mo	$233,900	$103	64
524 Harrison St	0.26mi	3/3.0 (-1)	1,820 (-13%)	10mo	$237,000	$130	47

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

Projected returns pro-forma

2.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.07×
• Total profit: $29,914
• Equity at exit: $42,450

10-year hold

• IRR: 20.9%
• Equity multiple: 3.90×
• Total profit: $81,225
• Equity at exit: $63,561

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 52347

• Home prices YoY: 1.8%
• Active inventory: 16
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,301 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$146 /mo · $1,752/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $317

Break-even live

Break-even rent $901

Max offer price $99,900

Occupancy floor 71%

Sensitivity live

Price	-10% $373	-5% $345	+0% $317	+5% $288	+10% $260
Rent	-10% $214	-5% $265	+0% $317	+5% $368	+10% $419
Rate	-1.0pp $367	-0.5pp $342	base $317	+0.5pp $291	+1.0pp $264

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 2 events

1. 2026-03-25
   status Pending
2. 2026-01-14
   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: $1,752 · $146/mo
• Projected year-2 tax: $1,752 · $146/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,618
• − Mortgage interest: −$5,596
• − Property taxes: −$1,752
• − Insurance: −$500
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$2,906
• Taxable income: $2,365
• Est. tax owed @ 24.0%: −$568
• After-tax cash flow: $3,232/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: H-L-V Community School District
• NCES district ID: 1913380
• Math proficiency: 62% ▼ -3.00%
• Reading proficiency: 65% ▼ -10.00%
• Median HH income: $52,993
• Composite: 54.26/100
• National rank: #1372
• State rank: #208 of 289 in IA

Livability — Victor

• Score: 73/100
• State rank: #276
• US rank: #5345

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victor, IA
• Population (ZIP): 1,351

Population outlook (Iowa County) Hauer SSP2

• Today (2025): 16,503 people
• By 2030: 16,422 · -0.5%
• By 2040: 16,081 · -2.6%
• By 2050: 15,428 · -6.5%
• By 2075: 14,067 · -14.8%
• By 2100: 11,638 · -29.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: English 9% Iranian 4% Serbian 3%
• Foreign-born: 0%

Political lean MEDSL · Iowa

• 2024 margin: Strong R (+27.8) · D 35.4% · R 63.1% · Other 1.6%
• 2008→2024 swing: -27.9pp toward R · 2008: 0.2pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+25.3 2016: R+24.2 2012: R+4.9 2008: D+0.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.56%
• Current HPI: 146.0221
• 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

2 events — show timeline

• 2026-03-25 Pending — IAR
• 2026-01-14 Listed $99,900 IAR

Property tax history

+1.5%/yr

Latest (2025): $1,752 · +4.2% YoY. Source: county tax records.