910 Blackhawk St · Reinbeck, IA 50669

$46,000

3 bd · 1.0 ba · 1,456 sqft · SingleFamily public records · 177 Days on market

Built 1900 0.37 ac lot $32/sqft · 72% below area

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This Property is back on the market at no fault to the seller. This investment property is just waiting to be repaired. This 3-bedroom home has good structure and lots of potential for a remodel. The property is being sold as is. The location is great just a couple blocks from the High School and Elementary School. A large backyard and a two-car garage top off the many potentials that this property has. Newer furnace and A/C worked when owner purchased the property.

Key facts

• Large backyard
• Great location
• 0.37 acre lot

Tags

• LARGE BACKYARD
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#382 in IA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Gladbrook-Reinbeck Community School District (rural): math 76% / reading 74% proficiency, ranked #71 of 289 in IA (top 25%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 14 active listings in the ZIP; 14 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($318 loan paydown + $5k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $34k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $46k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 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 1900 — 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: 2.40% ✓
• Cap rate: 19.99%
• Cash-on-cash: 48.90%
• DSCR: 3.18
• GRM: 3.5

CMA / ARV

• ARV (median comp): $161,721
• List price: $46,000
• Delta: -71.56%
• 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
426 Commercial St	0.37mi	3/1.0	1,440 (-1%)	11mo	$190,000	$132	72
105 Southridge Dr	0.26mi	2/2.0 (-1)	1,436 (-1%)	12mo	$265,000	$185	67
806 3rd St	0.53mi	3/1.0	1,445 (-1%)	12mo	$135,000	$93	64
106 Clark St	0.54mi	2/1.5 (-1)	1,377 (-5%)	2mo	$127,000	$92	57
812 Blackhawk St	0.06mi	4/2.0 (+1)	1,652 (+14%)	11mo	$70,000	$42	57
706 Park St	0.37mi	3/1.5	1,532 (+5%)	21mo	$110,000	$72	54
301 West St	0.47mi	3/1.0	1,248 (-14%)	4mo	$108,000	$87	51
803 Randall St	0.47mi	3/1.0	1,288 (-12%)	11mo	$65,500	$51	49
605 Pioneer Rd	0.38mi	3/3.0	1,600 (+10%)	12mo	$232,500	$145	48
303 Broad St	0.45mi	3/1.5	1,640 (+13%)	10mo	$124,000	$76	48
411 Broad St	0.35mi	4/2.0 (+1)	1,631 (+12%)	22mo	$119,000	$73	36
707 Park St	0.40mi	4/2.0 (+1)	1,640 (+13%)	21mo	$118,000	$72	34

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.7%
• Equity multiple: 5.54×
• Total profit: $58,520
• Equity at exit: $41,440

10-year hold

• IRR: 56.2%
• Equity multiple: 12.34×
• Total profit: $146,112
• Equity at exit: $89,368

Cash invested: $12,880 (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 50669

• Home prices YoY: 4.9%
• Active inventory: 14
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,106 medium
• Mortgage (P&I): −$241
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $525

Break-even live

Break-even rent $441

Max offer price $46,000

Occupancy floor 48%

Sensitivity live

Price	-10% $551	-5% $538	+0% $525	+5% $512	+10% $499
Rent	-10% $438	-5% $481	+0% $525	+5% $569	+10% $612
Rate	-1.0pp $548	-0.5pp $537	base $525	+0.5pp $513	+1.0pp $501

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $46,000 Active 177 DOM
2. 2026-06-18
   days on market $46,000 Active 176 DOM
3. 2026-06-17
   days on market $46,000 Active 175 DOM
4. 2026-06-16
   days on market $46,000 Active 174 DOM
5. 2026-06-15
   days on market $46,000 Active 173 DOM
6. 2026-06-14
   days on market $46,000 Active 171 DOM
7. 2026-06-12
   pricedays on market $46,000 Active 170 DOM
8. 2026-06-09
   days on market $60,000 Active 167 DOM
9. 2026-06-08
   days on market $60,000 Active 166 DOM
10. 2026-06-07
    days on market $60,000 Active 165 DOM
11. 2026-06-05
    days on market $60,000 Active 162 DOM
12. 2026-06-03
    days on market $60,000 Active 161 DOM
13. 2026-06-02
    days on market $60,000 Active 160 DOM
14. 2026-06-01
    days on market $60,000 Active 159 DOM
15. 2026-05-31
    days on market $60,000 Active 158 DOM
16. 2026-05-30
    days on market $60,000 Active 157 DOM
17. 2026-04-29
    status Active 470-char remark

    Show marketing remark (470 chars)

    This Property is back on the market at no fault to the seller. This investment property is just waiting to be repaired. This 3-bedroom home has good structure and lots of potential for a remodel. The property is being sold as is. The location is great just a couple blocks from the High School and Elementary School. A large backyard and a two-car garage top off the many potentials that this property has. Newer furnace and A/C worked when owner purchased the property.

18. 2026-03-11
    status Pending 470-char remark

    Show marketing remark (470 chars)

    This Property is back on the market at no fault to the seller. This investment property is just waiting to be repaired. This 3-bedroom home has good structure and lots of potential for a remodel. The property is being sold as is. The location is great just a couple blocks from the High School and Elementary School. A large backyard and a two-car garage top off the many potentials that this property has. Newer furnace and A/C worked when owner purchased the property.

19. 2026-01-06
    price $60,000 470-char remark

    Show marketing remark (470 chars)

    This Property is back on the market at no fault to the seller. This investment property is just waiting to be repaired. This 3-bedroom home has good structure and lots of potential for a remodel. The property is being sold as is. The location is great just a couple blocks from the High School and Elementary School. A large backyard and a two-car garage top off the many potentials that this property has. Newer furnace and A/C worked when owner purchased the property.

20. 2025-12-03
    price $70,000 470-char remark

    Show marketing remark (470 chars)

    This Property is back on the market at no fault to the seller. This investment property is just waiting to be repaired. This 3-bedroom home has good structure and lots of potential for a remodel. The property is being sold as is. The location is great just a couple blocks from the High School and Elementary School. A large backyard and a two-car garage top off the many potentials that this property has. Newer furnace and A/C worked when owner purchased the property.

21. 2025-11-04
    listed $80,000 Active 470-char remark

    Show marketing remark (470 chars)

    This Property is back on the market at no fault to the seller. This investment property is just waiting to be repaired. This 3-bedroom home has good structure and lots of potential for a remodel. The property is being sold as is. The location is great just a couple blocks from the High School and Elementary School. A large backyard and a two-car garage top off the many potentials that this property has. Newer furnace and A/C worked when owner purchased the property.

22. 2016-08-16
    soldstatus $25,000 199-char remark

    Show marketing remark (199 chars)

    A lot of potential! Spacious 3 bedroom, Oversized double garage on large 1/3 acre lot. Investors and Contract buyers take note. Priced $16000 below assessed value. Walking distance to great schools!

23. 2016-05-12
    listed $34,900 199-char remark

    Show marketing remark (199 chars)

    A lot of potential! Spacious 3 bedroom, Oversized double garage on large 1/3 acre lot. Investors and Contract buyers take note. Priced $16000 below assessed value. Walking distance to great schools!

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,058 · $88/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 ≥102°F today · 16 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: $13,268
• − Mortgage interest: −$2,577
• − Property taxes: −$1,058
• − Insurance: −$230
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$1,338
• Taxable income: $5,942
• Est. tax owed @ 24.0%: −$1,426
• After-tax cash flow: $4,873/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: Gladbrook-Reinbeck Community School District
• NCES district ID: 1912660
• Math proficiency: 76% ▼ -3.00%
• Reading proficiency: 74% ▲ 9.00%
• Median HH income: $55,866
• Composite: 64.09/100
• National rank: #576
• State rank: #71 of 289 in IA

Livability — Reinbeck

• Score: 70/100
• State rank: #382
• US rank: #8130

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reinbeck, IA
• Population (ZIP): 2,447

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 12,452 people
• By 2030: 12,452 · +0.0%
• By 2040: 12,437 · -0.1%
• By 2050: 12,370 · -0.7%
• By 2075: 12,495 · +0.3%
• By 2100: 11,823 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 3% Native American 1%
• Common ancestry: Portuguese 3% Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Grundy

• 2024 margin: Solid R (+41.8) · D 28.3% · R 70.1% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -16.9pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+37.4 2016: R+39.5 2012: R+23.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.93%
• Current HPI: 257.04
• 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

+71.9% since first listed

7 events — show timeline

• 2026-04-29 Relisted — NEIRBR as distributed by MLS GRID
• 2026-03-11 Pending — NEIRBR as distributed by MLS GRID
• 2026-01-06 Price Changed $60,000 NEIRBR as distributed by MLS GRID
• 2025-12-03 Price Changed $70,000 NEIRBR as distributed by MLS GRID
• 2025-11-04 Listed $80,000 NEIRBR as distributed by MLS GRID
• 2016-08-16 Sold (MLS) $25,000 NEIRBR as distributed by MLS GRID
• 2016-05-12 Listed $34,900 NEIRBR as distributed by MLS GRID

Property tax history

+1.4%/yr

Latest (2025): $1,058 · +5.4% YoY. Source: county tax records.