1725 Homestead Ln · Cumming, IA 50061

$429,900

2 bd · 2.0 ba · 1,417 sqft · Other · 153 Days on market

Built 2025 3,588 sqft lot $303/sqft · 19% below area Est $530k · 19% under $265/mo HOA · 12% of rent

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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).

• ARV discount +15.0/15.0
• Schools +6.7/10.0
• Appreciation +5.1/10.0
• Livability +3.5/5.0
• Cash flow +2.7/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Introducing our one-story Homestead Townhomes, where luxury meets countryside charm. Inspired by traditional farmhouse design, these townhomes feature timeless architecture that blends seamlessly with the green landscapes of Middlebrook, Iowa's first agrihood. Set among expansive open spaces and agricultural amenities, residents enjoy the perfect balance of rural tranquility and modern convenience. These GEOTHERMAL townhomes offer year-round comfort with efficient, stable temperature control while significantly reducing energy consumption. Inside, vaulted ceilings in the spacious great room create an open, inviting feel. The kitchen features stainless steel appliances, quartz countertops, tile backsplash, and a walk-in pantry. The primary suite includes a private bath with dual vanity, tile shower, and a walk-in closet. Additional highlights include end-unit/duplex-style living, first-floor laundry room close to primary suite, front porch, patio space, landscaping with irrigation, and a two-car garage. Residents also enjoy beautifully landscaped grounds and thoughtfully designed communal gathering spaces.

Key facts

• One story
• Quartz countertops
• Geothermal

Tags

• ONE STORY
• FARMHOUSE DESIGN
• GEOTHERMAL
• VAULTED CEILINGS
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $430k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (49.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (47.7% below list).
• Recommended offer: $219k (49.1% below list) — sets the bar for cash-flow.
• Cap rate 2.2% vs local median 1.7% in Cumming — 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 69/100 on livability (#400 in IA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Norwalk Community School District (suburban): math 76% / reading 76% proficiency, ranked #39 of 289 in IA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 439 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($3k loan paydown + $1k appreciation (0.3% local appreciation)).
• Warren County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, 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 153 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $430k implies a 648% gain — meaningful room to come down on a strong offer.

Recommended offer $218,861 (49.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.52% ✗
• Cap rate: 2.22%
• Cash-on-cash: -14.54%
• DSCR: 0.35
• GRM: 15.9

CMA / ARV

• ARV (median comp): $529,649
• List price: $429,900
• Delta: -18.83%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

0.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.17×
• Total profit: $-99,814
• Equity at exit: $130,632

10-year hold

• IRR: -10.9%
• Equity multiple: -0.19×
• Total profit: $-143,094
• Equity at exit: $161,735

Cash invested: $120,372 (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 50061

• Home prices YoY: 0.1%
• Active inventory: 77
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$2,254
• Tax est. 1.5%: −$537 /mo · $6,448/yr
• Insurance: −$179
• HOA: −$265
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-1,458

Break-even live

Break-even rent $4,096

Max offer price $218,861

Occupancy floor —

Sensitivity live

Price	-10% $-1,161	-5% $-1,310	+0% $-1,458	+5% $-1,607	+10% $-1,756
Rent	-10% $-1,636	-5% $-1,547	+0% $-1,458	+5% $-1,370	+10% $-1,281
Rate	-1.0pp $-1,242	-0.5pp $-1,349	base $-1,458	+0.5pp $-1,570	+1.0pp $-1,683

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: $107,475
• Closing costs: $12,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2486 SE Morningdew Dr West Des Moines, IA	3.0	2.5	1750	$2,250	$1.29	22d	1	1.48mi

HOA detail

• Monthly dues: $265 · $3,180/yr
• Likely covers: landscaping

Listing history 19 events

1. 2026-06-21
   days on market $429,900 Active 153 DOM
2. 2026-06-18
   days on market $429,900 Active 150 DOM
3. 2026-06-17
   days on market $429,900 Active 149 DOM
4. 2026-06-16
   days on market $429,900 Active 148 DOM
5. 2026-06-15
   days on market $429,900 Active 147 DOM
6. 2026-06-14
   days on market $429,900 Active 145 DOM
7. 2026-06-13
   days on market $429,900 Active 144 DOM
8. 2026-06-10
   days on market $429,900 Active 142 DOM
9. 2026-06-09
   days on market $429,900 Active 141 DOM
10. 2026-06-08
    days on market $429,900 Active 140 DOM
11. 2026-06-07
    days on market $429,900 Active 139 DOM
12. 2026-06-05
    days on market $429,900 Active 136 DOM
13. 2026-06-03
    days on market $429,900 Active 135 DOM
14. 2026-06-02
    days on market $429,900 Active 134 DOM
15. 2026-06-01
    days on market $429,900 Active 133 DOM
16. 2026-05-31
    days on market $429,900 Active 132 DOM
17. 2026-05-31
    days on market $429,900 Active 131 DOM
18. 2026-01-16
    listed $429,900 Active 1122-char remark

    Show marketing remark (1122 chars)

    Introducing our one-story Homestead Townhomes, where luxury meets countryside charm. Inspired by traditional farmhouse design, these townhomes feature timeless architecture that blends seamlessly with the green landscapes of Middlebrook, Iowa's first agrihood. Set among expansive open spaces and agricultural amenities, residents enjoy the perfect balance of rural tranquility and modern convenience. These GEOTHERMAL townhomes offer year-round comfort with efficient, stable temperature control while significantly reducing energy consumption. Inside, vaulted ceilings in the spacious great room create an open, inviting feel. The kitchen features stainless steel appliances, quartz countertops, tile backsplash, and a walk-in pantry. The primary suite includes a private bath with dual vanity, tile shower, and a walk-in closet. Additional highlights include end-unit/duplex-style living, first-floor laundry room close to primary suite, front porch, patio space, landscaping with irrigation, and a two-car garage. Residents also enjoy beautifully landscaped grounds and thoughtfully designed communal gathering spaces.

19. 2025-12-22
    soldstatus $57,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$24,081
• − Property taxes: −$6,448
• − Insurance: −$2,150
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − HOA: −$3,180
• − Depreciation: −$12,506
• Taxable loss: −$25,685
• Est. tax savings @ 24.0%: +$6,164
• After-tax cash flow: $-11,337/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: Norwalk Community School District
• NCES district ID: 1921240
• Math proficiency: 76% ▼ -6.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $76,652
• Composite: 66.9/100
• National rank: #401
• State rank: #39 of 289 in IA

Livability — Cumming

• Score: 69/100
• State rank: #400
• US rank: #8514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cumming, IA
• Population (ZIP): 2,327

Population outlook (Warren County) Hauer SSP2

• Today (2025): 54,222 people
• By 2030: 56,863 · +4.9%
• By 2040: 61,691 · +13.8%
• By 2050: 65,939 · +21.6%
• By 2075: 75,626 · +39.5%
• By 2100: 80,425 · +48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 5% Lithuanian 4% American 3%
• Foreign-born: 7% · South Korea, China
• Languages at home: 93% English-only · Russian/Polish/Slavic 5% Chinese 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+20.7) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -21.4pp toward R · 2008: 0.6pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+16.8 2016: R+16.4 2012: R+2.0 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.27%
• Current HPI: 231.7596
• 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

+647.7% since first listed

2 events — show timeline

• 2026-01-16 Listed $429,900 DMMLS
• 2025-12-22 Sold (Public Records) $57,500 Public Records